Jul 15, 2021

What's Your Shopping Experience?

What is the mortgage shopping experience like on your website?

That’s a new way to think about your mortgage website.  Most website visitors are exploring your brand for the first time and are there to "shop."  If you think about your favorite online or offline shopping experience it probably includes browsing inventory (loan programs), reviewing prices (rates & fees), and allowing for a quick check out (customized rates). 

A positive mortgage shopping experience will turn more of your website traffic into high-quality leads.  Change the mindset from lead conversion (generate leads by any means necessary) to mortgage shopping.  When you look at your mortgage website experience from the lens of the shopping experience it will become a place that adds value to your customers and past clients.

Here are 3 top ways to improve your website shopping experience.

1. Offer Customized Rate Quoting

The mortgage shopping experience starts with a clear way to “Get A Quote”.  We see lenders promoting “custom offers” on their website but when you complete the form the user does not receive their actual rate offer. 

The integration to show rates starts with your pricing engine.  BankingBridge supports Optimal Blue and Mortech users and provides a seamless experience directly on your website.

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2. Compare Products & Rates

It's not that you want to remove the loan officer totally from the process.  Loan officers are there to help navigate the process, educate, and inform but most of the shopping can be done without human assistance.  Shopping starts on your website and should promote the user's ability to review loan products, prices, fees, and rates all in real-time.  

We all want to review several different types of shoes or t-shirts on your favorite brand's website. Your website visitors are wanting to do the same on your website. This requires you to have a page dedicated to comparing rates and products that add value back to the visitor. 

3. Mobile Experience

Have you reviewed your mobile mortgage website shopping experience?  

Mobile design experience can be overlooked in the mortgage industry.  Top-of-the-funnel website visitors are looking for a shopping experience that feels similar to what they might find on Amazon or any Shopify website.  As you review your mobile experience, invest the time into where you can improve your shopping experience. 

We believe the mortgage shopping experience begins with comparing rates, showing multiple loan products and pricing, and allowing a visitor to receive a custom rate quote without talking to a loan officer. 

The BankingBridge mission is to help small to mid-sized mortgage lenders level the playing fields against the industry giants.  We work with top mortgage lenders who advertise on Bankrate, Lending Tree, and Nerd Wallet to deliver a modern website experience, lower cost per lead, and improved ROI.

Learn how Optimal Blue & MorTech users are converting more leads with BankingBridge.

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