370% INCREASE IN
CUSTOMER RETENTION
SUCCESS STORIES
A Leading Mortgage Lender concerned with high rate of churn on portfolio in a volatile rate environment.
1 minutes read
Situation
Ditech LLC continued to witness portfolio drain despite building their servicing portfolio through third-party originations and portfolio acquisitions. Multi-channel marketing with heavy investments in technology were not able to stop the bleeding. Irrespective of the management commitment and sales efforts, a volatile rate environment and changing borrower preference, could not improve portfolio recapture over 15%.
6
DURATION
MONTHS
10
TECH
INTEGRATIONS
Solution
Synergi’s team stepped in with data analytics solutions focused on borrower benefit maximization. Following a two-pronged approach of (a) identifying borrower likely to payoff; (b) what benefit was a borrower seeking from payoff; the portfolio was easily sliced into targetable segments and offers that each segment would respond to.
Solutions Used
Synergi is a rockstar. Their solutions increased our market cap by 150%."
VP, Consumer Home Lending
Execution
At the onset all the multiple data feeds from various tech solutions were centralized to create a marketing data mart. Using a combination of trained ML models on portfolio prepayment and marketing response analysis, multi-channel campaigns were launched with personalized benefit communication to borrowers that were likely to payoff. Entire funnel was tracked against forecasted performance of the campaigns always keeping recapture rate as the only measurable KPI. What we termed as One-Click Campaigns then, the focus was to keep tuning each variable to find the optimum balance. Client’s marketing team was provided with dashboards that updated over-night and were trained to take decisions based on insights.
Integrations
The Results
52%
Over the next 6 months One-Click campaign generated an average portfolio recapture of 52% up from the starting base line of 14%.
370%
A net improvement of 370%.
The program ran over three years, consistently maintaining recapture rate with highest margins on funded volume in client’s history.
Omnichannel Marketing
Elevate borrower engagement through our Omnichannel Marketing Platform
Response-Driven Marketing
Boost marketing ROI with our targeted analytics and response models.
See more of our work
INSIGHTS REPOSITORY
Leveraging Data to Build a Direct-To-Consumer Home Lending Unit
A Leading Credit Union, with a large member-base wanted to scale Home Lending D2C operations to increase cross-sell opportunities for mortgages using existing members.
JOURNEY MAPPING
Setting up a Credit Trigger Program for Member Tracking
Increase member engagement for members who are in the market for a mortgage product and offer solutions that would resonate with them.
TRAFFIC ANALYTICS
Tracking Borrower Digital Engagement
Understanding pre-funnel digital behavior to maximize lead opportunity and application conversion.