VRM Mortgage Services

Overview


REO Asset Management Company Seeks Innovative Advertising & Marketing to Transform Business

Industry: Financial Services / Mortgage Services Company

ABOUT VRM MORTGAGE SERVICES

VRM Mortgage Services is a company that provides a variety of services to support the servicing of performing and non-performing loans. VRM delivers support services that provide an operational lift and performance excellence for its clients. With proven processes, the industry’s best real estate professionals and our proprietary technology platform, we provide a scalable outsourcing platform that helps lenders, servicers, investors and government financial institutions reduce operational and reputational risk while helping to dramatically reduce operating costs.

The hands-on approach of this branding and marketing consulting arrangement took place over two months. The process and result is as follow:

Phase One: Market Research

In this capacity, we conducted market research, facilitated interviews with staff, partners, and customers, profiled VRM’s ideal customers with descriptors and narrative, and analyzed the market for key information required in development of a digital marketing strategy.

This market analysis provided us with deep understanding of the market, the consumers purchasing patterns, and opportunities to establish a powerful digital presence for VRM. By leveraging the company’s core competencies, the desires of ideal customers, and the competitive landscape, we are able to ensure that efforts to grow the online channels are optimized for efficient lead generation, deeper market penetration, and overall revenue growth.

Selecting the correct online channels and communicating with the audience with a clear, compelling value proposition is vital for effective digital marketing. Additionally, defining the target audience in descriptive and narrative form is empowering to all internal marketing and sales staff and efforts, both currently developed and in the future. This provides consistency for the brand in all communications – whether direct, in-person selling, on the website, or otherwise.

Phase Two: Digital Strategy Development

Armed with the market intelligence from our initial analysis and findings, we worked with the VRM team to develop a digital strategy, including elements such as the digital sales funnel, content marketing & social media marketing, paid search advertising, social advertising, search engine marketing and optimization, user experience changes, and marketing technology recommendations.

The digital marketing strategy is the core of our digital efforts, providing us with a clear methodology of targeting our audience, acquiring qualified leads, nurturing leads, and converting leads into customers. It was important to VRM to shift interactions from transactional into relationship-based touchpoints that act as the beginning of long-term connections with loyal brand ambassadors.

The Strategy


Jared Scroggins, VRM Mortgage Services employee

The mortgage industry is heavily regulated, requiring integration of information technology/security and legal departments with all marketing initiatives. Nonetheless, VRM was determined to innovate in this laggard industry by positioning themselves as a digitally-savvy and capable organization, focused on consumers ease of communication and positive customer journeys. With that in mind, they reached out to Social Xccess to assist in a digital transformation.

Solutions


Cheryl Travis-Johnson and Phyllis Wright of VRM Mortgage Services

Social Xccess was involved on a deep basis with VRM, learning about their consumers, their business operations and processes, past marketing initiatives, technological and regulatory limitations, and resources to execute initiatives. At the conclusion of these two phases of digital transformation, VRM Mortgage Services was provided with a complete, comprehensive plan that was co-created with input of internal staff members, external partners, and customers. The action items and deliverables were plug-and-play, ready to be implemented immediately, or were accompanied with instructions and guidance on how to execute effectively, whether requiring internal or external resources. This was not merely a plan or report left on a desk, but the first step to transforming a business, which requires further guidance on proper resource allocation, implementation, training, and execution while maintaining best practices. With the business developed on the back of traditional sales and marketing efforts, the digital initiatives and focus is a paradigm shift in how VRM will organize itself and perform long-term as it aligns to the modern company and consumer's mind and behaviors.

Scoreboard

  • +10.32% sessions
  • +17.48% average session duration
  • +36.32% pageviews
  • -27.75% bounce rate
  • +8.65% pages per session
  • +50.32% website visitors

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