Customer engagement is critical to the success of any financial institution, and mortgage providers are no exception. According to Gallup, engaged mortgage customers are 4X more likely to become retail customers of the bank providing their mortgage than non-engaged customers are. Furthermore, engaged mortgage customers were 31X more likely to recommend their mortgage provider to a friend or family! The data leaves no room for debate – customer engagement is critical to the bottom line.
The bad news is that customer engagement with mortgage providers is low, even when compared with other complex financial services such as insurance. In fact, only one in five mortgage customers is actively engaged with their provider. That’s a huge problem.
Luckily, there is a solution: Idomoo Personalized Videos are proven to drive unparalleled customer engagement in the mortgage space. We work with leading mortgage lenders worldwide to ensure that the customers are engaged and happy. The data doesn’t lie:
68%
Of customers take action after watching a mortgage PV
22x
Higher engagement than standard communications
25%
Uplift in end-of-term conversion
200%
ROI within 3 months
85%
Of customers view their video to the end
ONBOARDING
Buying a house marks the single biggest purchase most people will make in their lives, and that can be scary and confusing! Personalized Videos are a great way to turn a stressful moment into a positive and engaging customer experience.
ESCROW ANALYSIS
For most people, escrow statements might as well be written in Dothraki – they would be able to make about as much sense of them. Personalized Videos offer a great way to explain these statements and avoid surprises, resulting in happy and engaged customers.
END OF TERM
A rate change in a variable rate mortgage can be a delicate topic if not handled with care. Proactively explaining upcoming rate changes and providing options using Personalized Video is a proven way to avoid unpleasant surprise and help customers make the best decisions.
CROSS-SELL AND UPSELL
A happy and engaged mortgage customer is much more likely to also become a retail customer. Help your customers see the value in contracting additional products or services by explaining them in context.
CUSTOMER ACQUISITION
Personalized quote videos generated in real time are a great way to acquire new customers. Also, Dynamic Video Ads on Facebook beat out all legacy video formats, delivering vast improvements to CTRs and Brand Recall.
