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Top Five Ways to Demonstrate Financial Impact of Marketing

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Only 36 percent of Chief Marketing Officers (CMOs) said they could prove the impact of marketing using quantitative metrics according to the 2019 CMO Survey by Deloitte, Duke University and the American Marketing Association. In fact, a whopping 64 percent of marketers cited “demonstrating the impact of marketing actions on financial outcomes” as their number one challenge when communicating internally with C-level executives. Here are five ways you can leverage the data in your enterprise CRM to measure and demonstrate marketing ROI in mortgage banking:

1: How many pre-quals, applications, and fundings resulted from our marketing efforts?
For example, one of our mid-size mortgage banking clients was able to generate $79,409,951 in extra loan volume during their first year of implementing our Momentifi Mortgage CRM. Here’s a sample enterprise-level report that you can create in our CRM in order to clearly demonstrate the financial impact of your marketing efforts:



2: What are the open and click-through rates of various emails and marketing campaigns?
Understanding the open and click-through rates of various emails allows you to pivot and make adjustments in your marketing messages. If people aren’t opening or clicking on your emails, you’ll have a much harder time engaging them in your buyer’s journey. This can also be tracked in the Momentifi Mortgage CRM via enterprise-level reports and user-level reports.

3: What’s our lead-to-funding conversion rate per loan officer?
Tracking conversion rates pre-marketing vs. post-marketing is an incredibly effective way of demonstrating the impact of your efforts to everyone in your organization, from loan officers in the field to executive management in the C-suite. You can also make yourself an invaluable resource to the sales team by providing sales managers with the reports they need to identify which LO’s are under-performing and which LO’s are hitting it out of the park. Remember, even a small 2% or 3% improvement in overall lead conversion can translate into millions of dollars in additional fundings.

4: What’s our lead-to-funding conversion rate per each referral source?
Momentifi Mortgage CRM allows you to track and measure the lead-to-funding conversion rate for each referral source. This gives your loan officers actionable data to determine which partnerships are performing well, and which partnerships need adjustments in terms of time, energy or effort.

5: What’s our client retention rate?
In other words, what percentage of borrowers in our database did a repeat loan with us in the past 12 months? Generally, 5% - 10% of your database does a new loan every year. The question is, are they doing a loan with you? If your client retention rate is anything less than 5%, you’re leaving a tremendous amount of money on the table. Momentifi Mortgage CRM helps you measure client retention as a whole, and per loan officer so that you can make improvements as necessary.

Are you ready to start demonstrating the financial impact of your marketing efforts?  Schedule a demo today!