One positive impact of the pandemic is that originators have been forced to connect with customers via video conferencing. Before Covid-19 restrictions, some originators incorporated video into their sales process but many producers had not. With the rise of remote working, video conferencing has become a primary tool for personal interaction. Even sales leaders are using video to connect with employees. While many originators are hoping that in-person meetings will eventually return, I believe video is here to stay!
In my view, the old ways of selling are on life support. This will significantly affect how mortgage sales organizations reach out to customers and referral sources in the future. Video presentation skills will be mandatory for originators moving forward.
While face-to-face meetings have long been the standard for sales organizations around the world, how salespeople connect and generate trust has been fundamentally redefined. To understand the growing influence of online interaction, consider that 40% of couples met their partners online vs. through mutual friends, according to a Stanford University 2019 study. If finding a partner in today’s world can happen through online interaction, why can’t the same techniques apply when making the investment of a lifetime, purchasing a home?
The power of video as a sales tool is undeniable. In the past few years, demand for video content has increased exponentially. According to Nielsen’s 2018 Total Audience Report, the average U.S. adult spends nearly six hours per day watching video across a variety of devices including televisions, laptops, smartphones, and tablets. There is no question that video is a normal aspect of daily life, especially for younger generations.
While some originators may be uncomfortable with online presentations, mastering this format will be critical if producers want to connect with prospects and referral sources. When you think about it, the idea of selling online is not that unusual. If movie actors can cultivate a strong following, why shouldn’t originators be able to do the same and develop their own followers or “tribes.”
The bottom-line? Selling is moving to video whether lenders and their originators are ready or not. Sales leaders should be hiring individuals who are skilled in this medium and are willing to use it. The pandemic has only accelerated the need for originators who can deliver excellent sales presentations — both in-person and online.
Has your company embraced video sales culture? Don’t wait!