Challenge we faced: To craft a customized lead dashboard which delivers insights into home buyer trends and track loan officer performance

About Project

Period: July – August 2023

Client: Freedom Capital

Subject: Lead Dashboard

Freedom Capital, a prominent mortgage firm in the United States, has established itself as a leader in the industry by leveraging the power of Salesforce as its Customer Relationship Management (CRM) platform. Salesforce, the cloud-based CRM solution, plays a crucial role in streamlining and enhancing various aspects of Freedom Capital’s operations. Salesforce facilitates a 360-degree view of customer interactions, enabling Freedom Capital to understand client needs and preferences better.

Our Task Was

Our objective is to create a user-friendly and visually engaging dashboard within the Salesforce platform, tailored to provide comprehensive and pertinent information for the Senior Loan Officers at our mortgage bank. The design focuses on simplicity and interactivity, ensuring that critical insights are readily accessible.

 

 

Process

Salesforce’s robust lead management features help Freedom Capital generate, track, and convert leads effectively. This ensures a streamlined process from lead acquisition to successful mortgage transactions. The CRM’s analytics and reporting features empower Freedom Capital to gain insights into its operations, track key performance indicators, and make data-driven decisions. Customizable dashboards provide a visual representation of critical metrics, offering a quick overview of the company’s performance.

We have designed a lead dashboard to track key performance indicators. We customized salesforce standard reports to track the following key metrics:

  • Average Lead Conversion Time Report: The average days to convert a lead are computed using a formula field and graphed against lead sources associated with different lead owners. This analysis provides insights into the efficiency of lead conversion processes across various channels.
  • Lead Conversion Rate Tracking Report: Lead source conversion rates are calculated monthly using a formula, depicting the percentage of converted leads for each lead owner. This report enables monitoring of conversion performance over time and across different lead sources.
  • Unique Loan Officers Involved in Lead Conversion Report: Utilizing a custom formula field, this report quantifies the unique number of loan officers actively engaged in lead conversion. It assists in assessing team involvement and identifying key contributors in the conversion process.
  • Lead Scoring Analysis: Lead scores are calculated based on multiple inputs, and the distribution of leads with distinct scores from each lead source is tracked. This analysis aids in identifying lead sources that generate the highest number of high-quality leads.
  • Leads Categorized by Loan Purpose: For each loan officer, this report illustrates the distribution of leads based on their expressed loan purposes. It offers insights into the types of loans prospects are interested in and helps tailor marketing efforts accordingly.
  • Lead Status Distribution Report: The number of lead records under each status is tracked, categorized by the user who created them. This report provides visibility into the progression of leads through different stages of the conversion pipeline.
  • Daily Leads Report: This report presents the volume of leads generated on a daily basis, offering a granular view of lead acquisition trends over time.
  • Weekly Leads View: Filtered to display leads on a weekly scale within the current quarter, this widget provides a concise overview of lead generation trends and patterns.
  • Monthly Leads Chart: This bar chart visualizes lead generation metrics on a monthly basis within the current year, facilitating trend analysis and performance comparison across months.
  • Leads Trend Analysis by State: This report examines lead trends across different states, offering insights into regional variations in borrower interest for various loan products. It helps in understanding geographical market dynamics and targeting strategies effectively.

Result

  • We’ve developed a comprehensive lead dashboard tailored to facilitate seamless analysis of prospective borrower data. This dashboard serves as a powerful tool for tracking loan officers’ performance across various metrics, providing valuable insights to enhance their effectiveness.
  • By offering a visual representation of lead trends, the dashboard empowers loan officers to identify patterns and make informed decisions to optimize their communication strategies. This enables them to adapt and refine their approaches in real-time, ultimately improving their interactions with potential borrowers and increasing conversion rates.

Screenshots from Salesforce Setting

Conclusion

 

The tailored dashboard we crafted for Freedom Capital has proven instrumental in monitoring and analyzing a plethora of key performance indicators (KPIs). This robust tool serves as a cornerstone for educating loan officers and driving significant improvements in productivity across the board.

By providing a holistic view of prospective home buyers, the dashboard empowers the loan team to delve deeper into borrower insights. Armed with this comprehensive understanding, loan officers can strategically prioritize high-quality leads, thereby optimizing their efforts for maximum impact.

Moreover, the dashboard serves as a dynamic platform for staying attuned to evolving borrower trends. By continually tracking and interpreting KPIs, the loan team gains valuable insights into shifting market dynamics and borrower preferences. This, in turn, enables them to adapt and diversify their business strategies in alignment with current trends, ensuring they remain agile and responsive to the ever-changing landscape of the mortgage industry.

In essence, the customized dashboard not only facilitates informed decision-making but also fosters a culture of continuous improvement within Freedom Capital. It serves as a catalyst for enhancing operational efficiency, refining communication strategies, and ultimately driving sustainable growth and success for the organization.