Ellie Mae Study Finds That Sellers Plan to Accelerate Use of Text Messaging to Meet Shifting Consumer Preferences
March 13 2018 - 9:00AM
Business Wire
The substantial gap between consumer
expectations and seller text use is narrowing, with 87% of sales
professionals planning to increase their use of text over the next
five years
Consumers detail current preferences and
most appropriate reasons for a sales-generated text
Ellie Mae® (NYSE: ELLI), the leading cloud-based platform
provider for the mortgage finance industry today announced the
results of its newest study titled, “Great TEXTpectations: The
Text Messaging Playbook for Sellers.” Ellie Mae surveyed more
than 500 consumers and more than 350 sales professionals to better
understand shifting consumer expectations for text messaging during
the buying process and how sellers’ use of text measures up against
those expectations.
“Consumers have been telling us that text messaging is well
suited for their on-the-go, digital lives,” said Nick Hedges,
Senior Vice President, Consumer Engagement Strategy at Ellie Mae.
“And while consumers expressed a nearly universal expectation for
text communications from sellers, there were a number of surprises
regarding the appropriateness of texting them for different
reasons. This detailed feedback can be invaluable for sales
professionals looking to make smarter decisions about integrating
text messaging into their digital lead generation and sales
workflows.”
The survey found both consumers and sales professionals voiced
confidence in text’s potential to improve the buying experience by
speeding up key processes. But consumer responses also show that
text messaging can hurt sales efforts if not used in an appropriate
fashion. Consider that less than one-third of consumers feel it’s
appropriate for a seller to text for the following reasons:
- Promotions or special programs
(29%)
- Happy birthday wishes (26%)
- Just to say hello (19%)
Over time, however, a growing proportion of consumers have
become open to the idea of receiving a text for the reasons above.
Respondents were the most open to receiving texts for appointment
reminders, deadline reminders, and four other reasons detailed in
the report.
“Sales professionals have a tremendous opportunity to improve
engagement and outcomes by integrating and synchronizing text with
other communication channels,” continued Hedges. “They can deliver
a more optimal consumer experience by aligning text use and other
efforts to individualized preferences.”
Previous Ellie Mae research established that all buyers,
regardless of age, have a strong preference for more online and
digital interaction with their seller. The survey finds another
compelling trend: the overall upward movement for text, and
downward trend for email. Emailing is becoming less popular as the
number of consumers who find email intrusive has grown over the
last 5-10 years. The survey shows that text is already preferred
over email for important and urgent methods.
“Though it has a long way to go, the widespread upward trend of
preference for text raises the possibility that text might someday
become the preferred method of communication,” said Hedges. “But
for the foreseeable future, consumers prefer text on a situational
basis and there is no contact strategy that is
one-size-fits-all.”
Sellers cite three main challenges to implementing text:
- Compliance concerns (56%)
- No tool available (50%)
- Don’t want to use personal cell
(34%)
Pain points like these are some of the major forces driving
Ellie Mae’s latest enhancement to Velocify LeadManager Text
Messaging, announced last week. The new Velocify LeadManager SMS
Texting features provide lenders and other sales professionals with
a seamless and easier way to send automated and individual texts
from within Velocify LeadManager to mobile phones. Velocify
LeadManager helps ensure that texts lenders send are highly
relevant and reach the right person, at the right time, and in the
right way. No other technology delivers such powerful mobile
communications integrated into a centralized lead management
solution.
For more insight on appropriate and effective ways to
incorporate text and provide consumers a better mortgage
experience, read the full report “Great TEXTpectations: The Text
Messaging Playbook for Sellers.”
About Ellie Mae
Ellie Mae (NYSE:ELLI) is the leading cloud-based platform
provider for the mortgage finance industry. Ellie Mae’s technology
solutions enable lenders to originate more loans, lower origination
costs, and reduce the time to close, all while ensuring the highest
levels of compliance, quality and efficiency. Visit EllieMae.com or
call (877) 355-4362 to learn more.
About Velocify by Ellie Mae
Velocify® by Ellie Mae is a sales acceleration software platform
that helps high-velocity sales teams turn more prospects into
customers. More than 1,500 companies streamline, automate and
optimize their sales processes using Velocify. Velocify’s software
delivers a prescriptive approach to selling and surfaces actionable
performance insights to ensure salespeople stay focused on
activities that lead to more sales. Visit Velocify.com or call
(888) 843-1777 to learn more.
© 2018 Ellie Mae, Inc. Ellie
Mae®, Encompass®, AllRegs®, the Ellie Mae logo and other
trademarks or service marks of Ellie Mae, Inc. appearing herein are
the property of Ellie Mae, Inc. or its subsidiaries. All rights
reserved. Other company and product names may be trademarks or
copyrights of their respective owners.
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Ellie Mae, Inc.Erica Harvill,
925-227-5913Erica.harvill@elliemae.comorAllison+PartnersAlexandra
Gardell Kreuter, 646-428-0618EllieMae@allisonpr.com
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