OpenClose had one of its best years in sales while continuing to enhance its product offering to meet the needs of the residential mortgage banking industry. Perhaps the greatest testament to our mortgage software and service is that many of our customers’ contracts came up for renewal last year and all re-signed.
Keeping compliance in the forefront, OpenClose has continued to make the loan process easier to use across platforms. Most notably it released OC Optics: a new Enterprise Reporting System that combines configurable management dashboard tools with a powerful graph and reporting solution to be used with its loan origination software.
A matured LOS, OpenClose continues with the spirit of innovators and continued to make strides in burgeoning areas through our social media management software as well as a being a recognized as a financial social media influencer through our blog. According to one recent study, about 52% of U.S. adults now use social media - 81% of people ages 18 to 24, 67% of 25-to-34-year-olds and 59% of 35-to-44-year-olds. In the next 5 years 70% of mortgage originations will come from Gen X and Gen Y consumers. OpenClose anticipates the needs of the industry rather than waits to catch up.
According to the latest research from a syndicated research report published by the Auriemma Consulting Group, Inc. (ACG), while businesses of all types are still learning to navigate the social media frontier, it seems that banks and credit card companies are lagging a bit behind other major business categories. The ACG study states that banks and/or credit card companies are connected to just 9% of the social media population.
Certainly, hesitancy by the industry as a whole can be expected based upon history. First of all, banks are notorious for being late to the game when it comes to integrating new technologies -- granted often for good reason. There are so many branches, offices, and far reaching effects that when banks make a change they want to make sure it's for the right reasons and will not require another change anytime soon.
Then there is the issue of security and safety of its depositors.
The good news is that now banks, credit unions, and mortgage lenders have a viable option when it comes to social media marketing with OpenClose Social. Viable because it eliminates all of the issues that lenders have seen as red flags.
OpenClose Social allows banks to safely and securely interact with their depositors and potential clients in a way they will feel secure. It includes, social media monitoring, competitive analysis, posting, Facebook apps and much more.
Someone's About to Ruin Your Company's Social Media Campaign:You
New Social Media eBook Warns Marketers About the "Sophomore Slump" and How to Avoid It
West Palm Beach, Fla. Jun 07, 2012 -- According to a new social media eBook from OpenClose, the most imminent danger to derailing your successful social media campaign is falling into the sophomore slump: a malaise or weariness that can fall upon the marketers who run them. "Avoiding the Social Media Sophomore Slump" helps marketers recognize the signs of a strategy in jeopardy, and then offers some innovative, next-step solutions to make future campaigns succeed.
"Many marketers have spent the past two years immersed in learning social media, then selling it first to the boardroom, then finally to the public," says author Frank Bocchino, vice president marketing & social media of OpenClose. "But even if you knocked the ball out of the park, you're likely weary and your enthusiasm has been replaced with information overload, more work, and demotivation while the world is hungry for what's next. Our next-step game plans for Facebook, Twitter, and LinkedIn will help that."
The eBook dubs the syndrome as the sophomore slump of social media: subsequent efforts that fail to live up to the standards of a first one due to bad habits and/or overexposure. Used to describe the apathy of second year high school or college student, the sophomore year is often characterized by frustration, lack of motivation -- even backlash against the system. "The good news is if you're a social media marketing executive questioning your motives, then you're actually ahead of the game and the slump can be avoided," adds Bocchino.
"Avoiding the Social Media Sophomore Slump" is available for free download here.
About OpenClose OpenClose is a pioneer of Software as a Service (SaaS) computing solutions for the financial industry since 1999. With OpenClose social media for banks, its social media management software users can easily create and post social media content simultaneously on Facebook, Twitter, YouTube, LinkedIn, corporate websites and blogs. It allows marketers to automatically aggregate pertinent news and content for writing, reposting, and distribution. Administrators can then monitor, track and analyze what's being said about their company, and competitors. Options include group discussion (forums), blogging; lead management, and multiple accounts posting. Visit the company's Web site at www.openclose.com
Tip 1: Start looking. There are a many vendors who say they are wen-based but actually require users to install software preventing "anywhere computing. In truth there are just a few true web-based loan software vendors.
Call OpenClose for loan origination, loan pricing, consumer websites and social media marketing including Facebook apps geared specifically to financial institutions. Ask about which part of our mortgage banking software solution is right for you. No need to get what you don't need. You can use all or some of the lending solution.
Tip 2: Stop looking ;) because there is no other vendor that offers a complete, end-to-end web-based mortgage lending solution. No one.
Why choose a single vendor? You eliminate incompatible software systems and the finger pointing that often goes with it. Secondly, you eliminate rekeying of data that often results in mistakes, and/or prolongs the approval process. With an OpenClose solution you can create inbound marketing by generating leads through social networks, capture prospect info on your website, provide an online 1003, and move the loan through origination, processing, underwriting, all the way through post closing.
Though our loan origination software is reserved for those companies doing 30 or more residential mortage loans per month, financial institutions of any size can take advantage of our social media offering or Facebook apps.