One of the biggest struggles we hear from lenders as they are rolling out new technology is they don’t know how to create an effective plan that will quickly get adoption.

Unfortunately, there isn’t a ‘one size fits all’ approach here. However, along the way, we have heard some big ideas that may work for your organization.  These ideas can be used for any new technology, but have also specifically worked for lenders that have implemented our digital mortgage solution:

  • Plan around a large company event. Have an upcoming company Sales meeting? Reward trip? All-hands? If you can get your top producers together in person, this is the best approach. At this meeting have your executives explain the investment they are making in your team, and share stories from other lenders and the success they are having with the technology you are rolling out. Share an upbeat video and define actions that your team can start immediately.  Don’t forget the swag. Lots of swag.
  • Pick a diverse group to be your pilot. Cherry-pick 5-10 loan originators (LOs) that you can follow for the first few weeks. Similar to a focus group, select some who are super tech-savvy, a few top producers, and a couple of average-to-underperforming LOs. You can then use their feedback and extract quotes about the type of success they are having. Their input is invaluable to identify what processes you want to tweak, and how to improve their experience to make the platform successful for everyone.
  • Internal Webinars. Include group members on webinars or phone conferences and have them share their experiences and lessons-learned with the entire Sales force to share their experiences. Hearing from your peers is powerful, especially in competitive teams.
  • Don’t forget your operations team. It is easy to get caught up in borrower- and LO-facing technology by only training your LOs. Schedule dedicated training sessions for processors, LOAs, admins, and marketing. Often, these valuable team members are the drivers for success and engagement–especially if your technology has a borrower-facing component. They are also the members of your team that will push those LOs who might be slower to adopt anything other than the paper-and-pen method to take a loan application.
  • Leaderboards and Reminders. Send weekly leaderboard emails to branches, regions, or company-wide that shows top adopters of your new tool (and don’t forget to get some quotes about their success and strategies from them.) Use analytics to define key performance indicators (KPIs) and what success looks like for your organization, then share these milestones company-wide to promote individual achievements. Sharing progress reports is also a great vehicle to provide short training videos (90-seconds max) with best-practices and tips covering the various functions of your platform.
  • Host a competition. Throw a highly visible contest to see who is using the software the most, and in what ways they are using it. For example, shares with borrowers, loan applications taken, borrower documents uploaded, or realtor partners added. The competition’s prize(s) should be something meaningful, like extra bps on their next three loans for example.
  • Get on the road. Webinars are easy to attend wherever you are. If you are in your team’s office, for example, they can’t ignore you! Host a “road show” for your branches to do in-person training for their LOs and processors.
  • Enlist marketing help. Don’t forget to focus on marketing, and not only externally. Some suggestions include:
    • Branding your new platform to align with your company’s guidelines.
    • Producing internal marketing pieces that help your team understand the value the new technology has for their success.
    • Keeping things light-hearted and fun will win every time.

If you don’t have capacity internally, find a consultant that can help you.

Ready to take the first step toward offering the power of a top end-to-end mortgage solution? We would love to speak with you about your digital mortgage strategy and how we can help to maximize your investment and build loyalty with your team, borrowers, and realtor partners.