The last two years of the mortgage market have been unusual. As the refinance market plummets and the purchase market sees significant reductions in volume, lenders are faced with the challenge of finding more business. The best way to do so is to retain your current customers.
CoreLogic’s Precision Marketing helps lenders connect with their customers, understand their needs and be there for them. Lenders can then use that connection to drive and grow their business.
CoreLogic developed best-in-class analytics around property and insights, with almost 100% coverage across all the properties in the country. And, the company invested in proprietary customer analytics, allowing them to ingest a lender’s customer’s portfolio and drive augmented information.
By combining these two abilities, CoreLogic can use a lender’s portfolio to identify customers with home purchase intent. This provides lenders with insight into who is in a home purchase pattern within their customer base, allowing them to engage that customer in conversation and be there for them.
Lenders today spend about $400-700 trying to retain existing customers and upwards of $1000 to acquire new customers. By using Precision Marketing, lenders can drive down the cost of customer retention significantly. It also helps lenders have the first-move advantage with their previous customers, helping them convert.
To learn more about Precision Marketing, visit www.corelogic.com/.
