Three Ways to Compete with Rocket Mortgage (& other direct-to-consumer solutions)

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Whether or not you’re in the real estate industry, you’ve likely heard of Rocket Mortgage. While many may view this as a convenient new company in the market, lenders may see a formidable force. From their Super Bowl commercials to the recently announced slew of partnerships, Rocket’s direct-to-consumer model seems to be doing something right. In fact, the company brought in an impressive $9.5 billion in 2020 profits.

What is it About Rocket Mortgage?

Developed by Quicken Loans, Rocket Mortgage came on the scene in 2016. Since then, its star has been rising. The app promises fast and easy mortgages for consumers. The company promotes this easy loan process with the slogan: “Push Button. Get Mortgage”. Sounds pretty easy right? And it’s just a Google search away. As brand awareness grows, more and more home buyers are heading Rocket’s way. This type of dominant player in the market should be concerning to even the most successful of lenders. Additionally, even those outside of the real estate industry should consider the rise of Rocket and how a similar solution might affect their own industry.

Keep it Simple

In order to compete with these types of direct-to-consumer offerings, it’s critical to provide an easy solution. One of the appealing things about Rocket is the ability to get a mortgage loan quickly and with the click of a button. If your existing sales process isn’t already set up to give customers more control, it’s time to fix that.

Customers are increasingly wanting more control of the sales process. They not only want an easy way to access solutions but to research and move through a sales process as well. This flexibility gives them more control and creates a more enjoyable customer experience. The CardTapp solution is an ideal way to create a simple and engaging sales process. From in-app docs to customized buttons, CardTapp can make your sales process approachable to customers.

Respond Quickly

However, an easy process may not be enough. Indeed, consumers not only like how easy Rocket Mortgage is to use, but they like the speed. They get pre-qualified quickly so that they can start the home buying process when they want to. Although your process may not have all of the bells and whistles that allow you to get things turned around quickly, consider how you can streamline the process.

Identify key requests clients make and develop a way to accelerate those tasks. The engagement insights from your CardTapp solution can help with this as well. Not only do you receive real-time notifications of how clients interact with your tools, resources, and sales process, but you can follow-up immediately. With TappTracker, it’s easy to reply to registered app users with the click of a button.

Differentiate with a Personal Touch

Although CardTapp helps you provide an easy and fast sales process that can compete with Rocket Mortgage, it’s probably not going to be enough. In order to excel beyond the direct-to-consumer giants in any field will likely require more. Even though customers like autonomy and independence, there’s really no substitute for that personal touch. Ultimately, the ability to balance an efficient, customer-guided sales process with powerful customer service is what will set you apart from others.

The best salespeople strike the perfect balance of sales and service. Reviewing CardTapp engagement insights for meaningful outreach opportunities as well as sales opportunities can help make that personal connection. Indeed, the ability to anticipate clients’ questions and needs can create an incredibly memorable customer journey experience.

Photo by Keira Burton from Pexels

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