The only way to capture and measure trends is through primary scientific surveys - done every year. Purchase 2010 report.
MORTECH 2010 Mortgage Industry Report
Business and Information Technology Use In the Mortgage Industry: Understanding the MORTECH Series of Studies
Technology vendors want a platform for building marketing and a communications platform to reach mortgage lenders. Sponsoring MORTECH and working with us is just the ticket. We are happy to share how we build our business and technology survey.
Our data comes from a scientifically-designed survey of mortgage lenders. The quality of the survey allows us to look confidently at the data from so many different angles. Our ability to analyze the data and make recommendations outstrips the ability of other sources.
MORTECH is designed to support strategic marketing. We answer questions such as:
- How many potential buyers are in the market (for selected systems)?
- What demographic, attitudinal and behavioral characteristics describe the prospects in the pipeline?
- What is the average technology spending for these prospects?
- If they are automated, what vendors do they use now – which vendors are vulnerable to shopping?
- What information channels do the shoppers use to get information about technology?
Our sponsors can use the information that we develop to build marketing strategies:
- Based on lender behavior, which marketing channels are preferable for executing a marketing strategy?
- What message is most likely to resonate with our audience of prospects?
- In view of what we learn about prospects, what firm capabilities and traits should be highlighted?
The mortgage industry is heterogeneous. Through MORTECH we can see into segments of lenders and help target marketing. And, with the data, it is possible to establish and verify the revenue objectives and sales quotas. How can this be done? With MORTECH, we show data on lender activity levels (e.g., propensity to shop for a new LOS). From this data, we calculate the population of lenders from which a vendor will draw sales prospects. A vendor can then benchmark a number of possible new customers for its product; a vendor can also assume an increased share of market or a stable share of market and calculate the number of “systems shoppers” the vendor's team might close. MORTECH provides an objective check on the explicit or implicit assumptions that underlie marketing plans.
Other than MORTECH, we know of no other service that has provided such insight over a long period of time. Most survey questionnaires are not coherent in their logic or do not have a consistently representative sample from which to work.
MORTECH contemplates supporting a strategic marketing model rather than a sales planning model.
The entire MORTECH 2010 report is available. MORTECH, LLC is briefing research clients on the 2010 edition of its annual study. We have spent 1,000 hours collecting data in the field. The result: unique, scientific, statistically reliable research on lender attitudes and behavior and their use of technology.