TY - JOUR
T1 - Continuous Improvement Model for the Increase in the Conversion Rate of Digital Sales Opportunities of Mortgage Loans
AU - Collao Diaz, Martin Fidel
AU - Quiroz Flores, Juan Carlos
AU - Ali, Ahad
PY - 2023/12/18
Y1 - 2023/12/18
N2 - This article discusses using digital media by banks to promote the sale of mortgage loans. It highlights the importance of the conversion rate, which compares the number of customers who purchased a mortgage loan to the number of potential customers who submitted their applications. The article proposes a continuous improvement model to increase the conversion rate by addressing capacity issues and redesigning the lead nurturing process. It also emphasizes the importance of employee development, lead management, and process standardization. The model is based on the PDCA cycle and incorporates various tools and techniques. The approach was implemented by hiring new sales filters, training, and acquiring the necessary resources. This resulted in an 8% conversion rate increase and improved lead nurturing efficiency. The model fits the current market needs and can be applied to any organization with high lead demand.
AB - This article discusses using digital media by banks to promote the sale of mortgage loans. It highlights the importance of the conversion rate, which compares the number of customers who purchased a mortgage loan to the number of potential customers who submitted their applications. The article proposes a continuous improvement model to increase the conversion rate by addressing capacity issues and redesigning the lead nurturing process. It also emphasizes the importance of employee development, lead management, and process standardization. The model is based on the PDCA cycle and incorporates various tools and techniques. The approach was implemented by hiring new sales filters, training, and acquiring the necessary resources. This resulted in an 8% conversion rate increase and improved lead nurturing efficiency. The model fits the current market needs and can be applied to any organization with high lead demand.
U2 - 10.1109/CONIITI61170.2023.10324034
DO - 10.1109/CONIITI61170.2023.10324034
M3 - Original Article
JO - 2023 9th International Conference on Innovation and Trends in Engineering, CONIITI 2023 - Proceedings
JF - 2023 9th International Conference on Innovation and Trends in Engineering, CONIITI 2023 - Proceedings
T2 - 2023 9th International Conference on Innovation and Trends in Engineering, CONIITI 2023 - Proceedings
Y2 - 4 October 2023 through 6 October 2023
ER -