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Welcome to the Ultimate Guide on the Best Cloud CRM for Mortgage Brokers
If you’re a mortgage broker, you know how hectic and time-consuming it can be to manage your clients, leads, deals, and paperwork. But what if there was a solution that could streamline your workflow, enhance your customer relationships, and increase your profits? That’s where CRM comes into play.
Customer Relationship Management (CRM) refers to software that helps businesses manage their interactions with customers, automate their sales and marketing processes, and analyze their data to make informed decisions. In recent years, cloud-based CRM has gained popularity among mortgage brokers for its flexibility, scalability, accessibility, and cost-effectiveness. In this article, we’ll explore the best cloud CRM solutions for mortgage brokers and help you choose the one that fits your needs and goals.
Why Do Mortgage Brokers Need a Cloud CRM?
Before we dive into the details of the best cloud CRM for mortgage brokers, let’s first understand why CRM is so crucial for this industry. Here are some of the reasons why you should consider using a cloud CRM for your mortgage business:
1️⃣ To Manage Your Clients Efficiently
As a mortgage broker, you deal with a wide range of clients who have different needs, preferences, and backgrounds. Keeping track of their information, communication, and progress can be overwhelming, especially if you rely on spreadsheets, emails, and phone calls. With a cloud CRM, you can centralize all your client data in one place, customize your fields and tags, set up alerts and reminders, and create automated workflows that save you time and reduce errors. You can also segment your clients based on various criteria, such as location, loan type, interest rate, and more, and personalize your marketing campaigns accordingly.
2️⃣ To Generate More Leads and Deals
One of the primary goals of any mortgage broker is to attract new leads and convert them into loyal clients. However, this can be a daunting task if you don’t have a systematic and targeted approach. A cloud CRM can help you capture leads from various sources, such as your website, social media, referrals, and events, and qualify them based on their quality, intent, and timeline. You can also track your sales pipeline, set up automatic follow-ups, and use analytics to identify your best-performing channels and tactics. Moreover, a CRM can help you collaborate with your team members, assign tasks and responsibilities, and monitor their performance and progress.
3️⃣ To Enhance Your Customer Service and Retention
Your clients are the lifeblood of your business, and keeping them happy and loyal is key to your success. However, this can be challenging if you don’t have a clear view of their needs, concerns, and feedback. A cloud CRM can help you provide exceptional customer service by enabling you to communicate with your clients through multiple channels, such as email, SMS, chat, and phone. You can also integrate your CRM with other tools, such as email marketing, survey, and feedback systems, to gather insights and improve your service quality. Finally, a CRM can help you identify and reward your top clients, upsell and cross-sell your services, and create long-term relationships that benefit both parties.
4️⃣ To Monitor Your Business Performance and Growth
Running a mortgage business requires not only hard work and dedication but also strategic planning and analysis. A cloud CRM can help you gain a holistic view of your business by providing you with real-time and accurate data on your sales, revenue, expenses, profits, and forecasts. You can also create customized reports, dashboards, and metrics that track your key performance indicators (KPIs) and help you identify areas for improvement and opportunities for growth. Moreover, a CRM can help you stay compliant with the regulatory requirements and standards that govern your industry, such as the Mortgage Brokerage, Lenders, and Administrators Act (MBLAA) and the Mortgage Broker Regulators’ Council of Canada (MBRCC).
5️⃣ To Stay Competitive and Innovative
In today’s fast-paced and dynamic business environment, staying ahead of the curve is critical for survival and success. A cloud CRM can help you keep up with the latest trends, technologies, and best practices in your industry by providing you with a wide range of integrations, add-ons, and updates that enhance your capabilities and efficiency. You can also join online communities, attend webinars, and read blogs and articles that share insights and experiences from other mortgage brokers who use cloud CRM.
The Top 5 Cloud CRM Solutions for Mortgage Brokers: Features, Benefits, and Pricing
Now that you know why you need a cloud CRM for your mortgage business, let’s explore the best options on the market. Based on our research and analysis, we’ve selected the following top five cloud CRM solutions for mortgage brokers:
| CRM | Features and Benefits | Pricing |
|---|---|---|
| 1. HubSpot CRM |
|
Free, Starter at $50/month, Professional at $800/month, Enterprise at $3,200/month |
| 2. Salesforce CRM |
|
Essentials at $25/user/month, Professional at $75/user/month, Enterprise at $150/user/month, Unlimited at $300/user/month |
| 3. Zoho CRM |
|
Free, Standard at $18/user/month, Professional at $30/user/month, Enterprise at $45/user/month, Ultimate at $55/user/month |
| 4. Pipedrive CRM |
|
Essential at $15/user/month, Advanced at $29/user/month, Professional at $59/user/month, Enterprise at $99/user/month |
| 5. Freshworks CRM |
|
Free, Growth at $29/user/month, Pro at $69/user/month, Enterprise at $125/user/month |
1️⃣ HubSpot CRM
HubSpot CRM is a popular and powerful cloud-based CRM solution that offers a free plan with basic features and paid plans with advanced functionalities. It’s ideal for small to medium-sized mortgage brokers who want to automate their marketing and sales processes, integrate their tools, and measure their ROI. Here are some of the key features and benefits of HubSpot CRM:
Contact and Pipeline Management
HubSpot CRM allows you to store and organize your contacts in a centralized database that tracks their information, activity, and history. You can also create custom properties and fields that fit your business needs, such as loan amount, credit score, or preferred communication channel. Moreover, you can set up and customize your sales pipeline, create deals and tasks, and move them across stages, such as prospecting, qualification, proposal, and closing.
Email Tracking and Templates
HubSpot CRM provides you with a powerful email tracking system that allows you to monitor your email opens, clicks, and replies, and get notified when your leads are ready to engage with you. You can also create and personalize your email templates, add attachments and links, and schedule your emails for optimal timing. Furthermore, HubSpot CRM integrates with your Gmail or Outlook account, so you can use it seamlessly without switching between tabs or apps.
Website Chat and Forms
HubSpot CRM enables you to engage with your website visitors and capture their information through live chat, chatbots, and forms. You can create your own chat widget, customize your chatflows, and route your chats to the right team members. You can also create forms that embed in your website, blog, or landing pages, and collect data that enriches your customer profiles. Finally, you can automate your chat and form submissions with workflows, so you don’t miss any opportunities.
Marketing and Sales Automation
HubSpot CRM offers you a suite of tools that automate your marketing and sales processes, such as email marketing, social media management, ad tracking, and analytics. You can create and schedule your campaigns, track your leads’ behavior and interests, and segment them into lists based on their engagement level. You can also use HubSpot CRM’s workflows to automate repetitive tasks, such as data entry, lead nurturing, and deal updates. And if you’re using other HubSpot tools, such as Marketing Hub, Sales Hub, or Service Hub, you can enjoy seamless integration and synchronization.
Integrations with Other HubSpot Tools
HubSpot CRM integrates with over 500 other apps and services, such as Zapier, Slack, Shopify, and WordPress, via its API or pre-built connectors. This means you can extend your CRM’s capabilities and leverage other tools that you’re already using. For example, you can add leads to your CRM from Facebook Lead Ads or LinkedIn Sales Navigator, create tasks from Trello or Asana, or sync your contacts with Mailchimp or Constant Contact.
Pricing
HubSpot CRM offers a free plan that includes basic features, such as contact and pipeline management, email tracking, and live chat. However, if you want more advanced features, such as custom fields, automation, and reporting, you’ll need to upgrade to a paid plan. HubSpot CRM offers three paid plans: Starter, Professional, and Enterprise. The Starter plan costs $50/month per user and includes features such as predictive lead scoring, custom reports, and email sequences. The Professional plan costs $800/month per user and includes features such as multiple currencies, calculated properties, and custom bots. The Enterprise plan costs $3,200/month per user and includes features such as partitioning, advanced permissions, and event-based segmentation. HubSpot CRM also offers a 14-day free trial for its paid plans.
2️⃣ Salesforce CRM
Salesforce CRM is a widely used and sophisticated cloud-based CRM solution that caters to businesses of all sizes and industries. It’s ideal for mortgage brokers who want to leverage the power of AI, automation, and integration to optimize their sales and marketing performance. Here are some of the key features and benefits of Salesforce CRM:
Customizable and Scalable to Any Size
Salesforce CRM offers you a highly customizable and scalable platform that adapts to your business needs and goals. You can create custom objects, fields, and relationships that fit your workflow and terminology, and configure your layouts and dashboards to suit your preferences. You can also use Salesforce CRM’s AppExchange marketplace to browse and install thousands of pre-built apps, integrations, and components that enhance your CRM’s functionality and value. Moreover, Salesforce CRM supports multiple languages, currencies, and time zones, making it a global solution for your mortgage business.
Lead and Opportunity Management
Salesforce CRM allows you to manage your leads and opportunities in a seamless and intuitive way that aligns with your sales process. You can create and assign leads to your team members, track their activity and engagement, and qualify them based on your criteria. You can also create and customize your opportunity stages, such as needs analysis, proposal, negotiation, and closed won, and collaborate with your team members to move them forward. Furthermore, Salesforce CRM provides you with artificial intelligence (AI) tools, such as Einstein Lead Scoring and Einstein Next Best Action, that analyze your data and give you insights and recommendations on how to optimize your lead and opportunity management.
AI-Powered Insights and Predictions
Salesforce CRM offers you a suite of AI-powered features that help you make smarter decisions and actions based on your data. For example, you can use Einstein Analytics to create custom dashboards and reports that visualize your KPIs and metrics in real-time and in a user-friendly way. You can also use Einstein Discovery to uncover hidden patterns and trends in your data and get predictive insights on your revenue, churn, and customer behavior. Moreover, you can use Einstein Voice to interact with your CRM by speaking to it, using natural language commands and queries.
Marketing and Sales Automation
Salesforce CRM provides you with a comprehensive set of tools that automate your marketing and sales processes, such as email marketing, social media management, lead nurturing, and analytics. You can create and execute your campaigns across multiple channels, such as email, social media, SMS, and ads, and measure their effectiveness and ROI. You can also use Salesforce CRM’s Sales Cloud to automate your sales processes, such as lead routing, opportunity tracking, and quote generation. And if you’re using other Salesforce tools, such as Marketing Cloud, Pardot, or Einstein, you can enjoy full integration and synergy.
Third-Party Integrations and AppExchange Marketplace
Salesforce CRM integrates with thousands of third-party apps and services, such as Google Apps, Microsoft Office, Dropbox, and Slack, via its AppExchange marketplace. This means you can connect your CRM to other tools that you’re using and streamline your workflow and collaboration. For example, you can integrate your CRM with your accounting software, your project management tool, or your e-commerce platform, and get a unified view of your business. Moreover, you can use the Salesforce API to build your own integrations and customizations that fit your unique requirements.
Mobile App for iOS and Android
Salesforce CRM offers you a mobile app that allows you to access your CRM on the go and stay connected with your team and clients. You can use the app to view and update your records, such as leads, opportunities, and accounts, from your smartphone or tablet. You can also use the app to collaborate with your team members, share files and documents, and communicate with your clients through phone, email, or chat. Finally, you can use the app to scan business cards, create tasks and events, and track your location and activities.
Pricing
Salesforce CRM offers four paid plans: Essentials, Professional, Enterprise, and Unlimited. The Essentials plan costs $25/user/month and includes features such as lead and opportunity management, contact and account management, and customizable reports. The Professional plan costs $75/user/month and includes features such as forecasting, team collaboration, and campaign management. The Enterprise plan costs $150/user/month and includes features such as workflow automation, advanced analytics, and integrations. The Unlimited plan costs $300/user/month and includes features such as unlimited customization, API access, and 24/7 support. Salesforce CRM also offers add-on packages, such as Sales Cloud, Service Cloud, and Marketing Cloud, that enhance your CRM’s functionality and value. Salesforce CRM offers a free trial for its paid plans.
3️⃣ Zoho CRM
Zoho CRM is a budget-friendly and user-friendly cloud-based CRM solution that caters to small and medium-sized businesses. It’s ideal for mortgage brokers who want a straightforward and robust tool that covers their basic needs, such as lead management, automation, and reporting. Here are some of the key features and benefits of Zoho CRM:
Affordable and User-Friendly
Zoho CRM offers you a simple and intuitive interface that makes it easy to navigate and use.
