Rate’s Proactive Approach to Feedback Fosters Stronger Client Relationships in Mortgage Services

During the 2020 surge in mortgage demand, Rate saw an influx of loan applications as interest rates dropped to historic lows. This unprecedented volume led to a slight dip in Rate’s customer satisfaction metrics, which had always been a point of pride. Rate sought to maintain high satisfaction and capitalize on positive experiences by transforming satisfied customers into advocates. The team needed a solution to automate feedback collection and streamline operations for Rate’s 2,500 loan officers.

To efficiently manage customer feedback at scale, Rate needed a solution that integrates with their CRM, Total Expert. Birdeye’s advanced tools enable Rate to automate the scheduling and management of review and survey requests, significantly reducing the team’s workload.

This automation allows loan officers to concentrate more on nurturing client relationships, which ensures a steady flow of positive reviews and valuable feedback. By streamlining the feedback collection process, Rate can effectively monitor customer sentiment in real-time without overwhelming staff.

Birdeye helps Rate capture feedback during pivotal moments in the customer journey, particularly after loan funding when customers are most satisfied. By leveraging Reviews AI, Rate automates review requests through both email and SMS, engaging customers when they are most likely to share positive experiences.

To further enhance these interactions, Rate's loan officers include QR codes on thank-you cards so customers can easily leave reviews. This effective blend of automation and personalized outreach maximizes customer engagement and ensures that Rate consistently gathers meaningful feedback.

As a result of the streamlined process, Rate has experienced a 12% increase in review frequency, significantly enhancing its online reputation.

To maximize the value of customer feedback, Rate leverages Birdeye's Insights AI. The tool aggregates and analyzes responses to provide a comprehensive understanding of customer sentiment across all locations and branches. The AI-powered summaries and analytical tools highlight recurring themes and trends, offering Rate actionable insights that enable continuous quality optimization.

This dual approach of capturing and analyzing feedback has proven highly effective: Rate collected 3,800 new reviews in just ten months while maintaining an impressive average rating of 4.9 stars. 

The increased review volume not only enhances Rate's online reputation but also positively impacts local SEO, which improves visibility to prospective customers across key platforms. By transforming customer feedback into scalable data, Rate is well-equipped to make informed decisions that drive service improvements and customer satisfaction.

In a competitive market, personalized engagement is crucial, and Rate leverages Birdeye’s customizable workflows and AI-driven response features to connect with customers on a deeper level. With Birdeye's AI-driven response suggestions, loan officers can quickly craft thoughtful, personalized replies to customer feedback.

This streamlined approach to engagement has been instrumental in helping Rate build stronger relationships with customers. Birdeye’s user-friendly features have led to a 14% increase in response rates, showcasing Rate's effectiveness in engaging its clientele. The ability to connect with customers has resulted in improved satisfaction and higher retention rates.

To monitor customer satisfaction throughout the loan process, Rate has implemented mid-process surveys that capture insights at critical milestones, such as the underwriting stage. 

The feedback collected from these surveys is instantly accessible to loan officers, enabling them to address concerns proactively before the loan process is finalized. With a Net Promoter Score (NPS) of 88.2, Rate demonstrates the success of this approach.

Furthermore, Birdeye’s Insights AI aggregates survey and review feedback, allowing Rate’s leadership team to analyze performance at both branch and individual levels. This data is used in monthly roundtables to identify trends, celebrate achievements, and implement strategic improvements across the organization. These advanced AI tools help Rate stay responsive to customer needs and continually enhance processes.

With Birdeye, Rate has transformed customer feedback into a powerful engine for growth. By harnessing automation, customization, and proactive insights, Rate improved customer satisfaction, review engagement, and their online reputation. Birdeye’s scalable solutions empower Rate to foster stronger relationships with clients and reinforce their leadership in the mortgage industry.

Are you ready to elevate your customer experience? Contact us today at 1-800-561-3357 ext. 1 or email sales@birdeye.com to discover how Birdeye can help your business thrive!