NLC Loans Increased Conversion Rate by 57% Within 6 Months of Using Tenfold
- Founded in 2003
- Headquartered in Columbus, Ohio
- NLC Loans helps customers find financing solutions to support their personal goals and provide their family with the life they want, and deserve
- Streamlining process for connecting with clients
- Eliminating manual data entry
- Improving response times to incoming leads
- Increasing calls per day to 175+ per sales rep
- Tenfold Next
- Lead Tracking
- SMS Response Tracking
- Automated Real-Time Reporting
- Saved 1.75 minutes per call
- Sales reps increased daily outbound calls to more than 175, an improvement of 136%
- Conversion rate increased from 35% to 55%
Millions of Americans dream of owning a home – either for space, establishment of a family, or personal growth. Most home buyers can’t afford a home out of pocket. It’s important to secure a mortgage loan that fits your needs, is affordable and doesn’t have any hidden loopholes.
Choosing the right mortgage loan company is vital. Mortgage loans shouldn’t be one size fits all. We offer innovating lending solutions that fit your life and support your financial goals.
At NLC Loans, our goal is to provide you with more than just a mortgage: We want to guide you towards financial freedom and the life you deserve to live. That’s what home should feel like.
While NLC Loans faced a few challenges, the central focus was to improve their ability to connect, and convert with a higher percentage of incoming leads. In an increasingly digital world, consumers expect to find solutions almost instantaneously, thus, companies must have lightning fast response times.
Unfortunately, due to their antiquated manual data entry system, which required approximately 20 clicks per file, NLC’s reps were taking too long to respond to leads.
This added time spent on manual data entry not only caused NLC to miss out on promising leads due to response times, but it also significantly reduced the number of outbound calls they could make per day.
Once NLC had identified their primary objectives, they began researching solutions, and turned to a software that claimed it would be able to integrate with their CRM system.
After running tests on that competing platform, NLC determined that the product was too slow, clunky, and was in fact, unable to fully integrate with their CRM. Tasked with starting from scratch, NLC conducted another round of research, and found themselves at Tenfold.
The first step in NLC’s solution was to switch from their previous CRM supplier to Salesforce. “We knew the transition to Salesforce would be an eventuality, given the growth we were experiencing, and the evolution of our primarily B2B business model.”
Tenfold then provided special customizations for NLC, including lead tracking, SMS response tracking, automated real time reporting, and punch cards that allowed managers to gain detailed insights into individual phone calls made by their sales reps.
Almost immediately, NLC experienced an increase in their call volume and conversion rates. Their outbound calls increased by 136%, from 74 to over their goal of 175. “By implementing click-to-dial, smart syntax notes, and lead dispositions, we were able to cut our time per file down to simply the time it takes to call and leave a voicemail.”
With Tenfold, NLC is no longer handcuffed by the need to manually enter information. They’re now reacting to leads in real time, through voice and SMS messaging, giving them a significant competitive advantage. NLC is “seeing much more volume team by team” and they now have the “ability to drill down to a granular level on an agent by agent basis.”
After implementing Tenfold, NLC experienced an increase of 77% in units closed, from the summer months of 2015, to 2016.
In addition to the increase in outbound calls, and units sold, Tenfold has made day to day operations at NLC much more enjoyable for their sales reps, improving their work culture.
“Having all of our notes at the tip of our fingers, as well as seeing the record for an incoming call immediately as it comes in makes for a less stressful work environment and overall better morale for everyone on the team.”
Tenfold’s product has given NLC’s sales reps more time to make quality connections, and expand their licensure to accommodate a larger number of borrowers in more states than they previously were able to manage.
“Using the CRM without Tenfold is such a hassle at this point…From a management perspective, the analytics page makes my job so much easier to keep track of my teams progress on a day to day as well as an overall basis.”
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