Bob Armour's CMO, Guaranteed Rate, presentation for the Chicago AMA Sunrise Executive Series titled: Revolutionizing Life's Biggest Purchase.

1. Revolutionizing
Life’s Biggest Purchase
Bob Armour
Chief Marketing Officer

8. Recent study highlights dissatisfaction
“Pet peeves… slow execution… difficult communication… inability to track
status of an application.”
Source: “Stress-Free Service Ranks High”, March 3, 2013

9. Recent study highlights dissatisfaction
“Pet peeves… slow execution… difficult communication… inability to track
status of an application.”
“1/3 of consumers are willing to pay more for a mortgage… with superior
customer service and less stress”
Source: “Stress-Free Service Ranks High”, March 3, 2013

10. Recent study highlights dissatisfaction
“Pet peeves… slow execution… difficult communication… inability to track
status of an application.”
“1/3 of consumers are willing to pay more for a mortgage… with superior
customer service and less stress”
“70% of homeowners and renters cited reputation of institution as a major influence on
choice. Cost competitiveness scored lower – 62%.”
Source: “Stress-Free Service Ranks High”, March 3, 2013

11. Recent study highlights dissatisfaction
“Pet peeves… slow execution… difficult communication… inability to track
status of an application.”
“1/3 of consumers are willing to pay more for a mortgage… with superior
customer service and less stress”
“70% of homeowners and renters cited reputation of institution as a major influence on
choice. Cost competitiveness scored lower – 62%.”
1 in 3 would consider Walmart if it offered mortgages. While hypothetical, the response indicates the power of
trust in brand.”
Source: “Stress-Free Service Ranks High”, March 3, 2013

12. Our mission:
Revolutionize
Life’s Biggest Purchase

13. Our recipe
• Very low rates and fees
• Simple, fast, easy-to-understand process
• Fanatical, expert customer service

14. $14.7 billion
funded loans, 2012
vs. $6.9 billion, 2011
(53,411 loans)

15. #1 mortgage lender
in Illinois

16. #10 overall in US

17. 2,537 employees
149 branches
49 states

18. 1-866-934-7283

27. Final Score: Great Experience 21 - Low Rates 3
1. “great experience” (2x)
2. “efficient, professional, communicated every
step”
3. “simple and seamless”
4. “great to work with”
5. “promptly returned calls”
6. “absolute professionals” 1. “sweet rate”
7. “incredibly smooth” 2. “highly competitive rates”
8. “experienced no horror” 3. “amazing deals”
9. “smooth and awesome experience”
10. “less stressful”
11. “kept us informed every step” (2x)
12. “super easy to work with”
13. “on time and with our interests in mind”
14. “complete SUCCESS”
15. “made it painless” (2x)
16. “pleasure to work with”
17. “get the job done fast”
18. “first class service”

28. Low rates and fees are important
Source: GuaranteedRate.com 3/14/13

29. The “3 B’s”
Blow away expectations with a great experience
Be memorable for the right reasons – friendly, expert, fast
Build trust with every single interaction

30. Great experience wins
1st timers –
Knowledgeable Low rate
• Scared
• Overwhelmed
• Managing lots of 3rd Counseling Low fees
parties (parents,
friends, real estate Strong advisor Highly efficient
agents, lawyers),
• Lots of strange new Patient Communicative
terms (escrow, PMI,
title insurance, etc.)

31. Great experience wins over and over
1st timers –
Knowledgeable Low rate 2nd+ timers –
• Scared
• Overwhelmed
• Managing lots of 3rd Counseling Low fees
Speed Been there,
parties (parents, Efficient done that. Let’s
friends, real estate Strong advisor Highly efficient get it over with.
agents, lawyers),
• lots of strange new Patient Communicative
terms (escrow, PMI,
title insurance, etc.)

32. Only one thing really matters
Knowledgeable Low rate
Trust
Counseling
Strong advisor
Patient
Low fees
Highly efficient
Communicative

33. Great people build trust
• Launched in January last year
• 100 loan officers trained in 2012
• 300 to be trained in 2013
• More loan officers in top 300, more in
top 1%, than any other bank or
mortgage company1
• Voted a top workplace in Chicago
1
Mortgage Executive Magazine 3/2013 and Scotsman Guide, 2013

34. Mortgages for Dummies – our version
Free downloadable e-books - Easy-to-understand – objective -- shareable

35. The Loan Process

36. The Loan Process - continued

37. The Loan Process – I’m not kidding
53 steps – if done perfectly
But that’s not the real problem…

38. Here’s the real problem

39. “…to keep you up to date on the
status of your order…”

40. Our “Pizza Tracker” - accessed from our site

41. Pizza Tracker PLUS proactive, friendly communication

42. Making the process faster
Step 1: Apply, choose loan, Step 2: Get free credit Step 3: Automated
customize rate reports, scores Approval
Application to approval in 15 minutes on GuaranteedRate.com

43. Making the process easier
Digital document sharing Electronic signatures

44. Follow the “3B’s” with the “3 A’s”
Blow away customers’ expectations with a great experience
Be memorable for the right reasons
Build trust with every single interacttion
Accelerate building trust
Amplify word of mouth opportunities
Authentically thank customers

45. Circles of trust
First hand
experience

46. Circles of trust
First hand
Friends,
experience Family
experience

47. Circles of trust
First hand
Friends, Trusted
Family
experience experts
experience

48. Circles of trust
Real
Friends, Trusted
First hand
experience Family
experts
Estate
experience Agents

49. Partner Xchange – free business driving tools for real
estate professionals
Guaranteedrate.com/agent
Shareable, fresh content
Online profiles
Loan status monitor Flyers, mortgage
(i.e. “pizza tracker”) education material

50. First hand Friends, Real people
Family Trusted
experience
experts who I can
experience relate to

51. Amplify word of mouth, ask for referrals
“I’d really value the referral”
“please post a review of
your experience on our
Facebook page…”

52. Survey – 3 mandatory questions

53. 77%
Net Promoter Score
Banking
industry avg.
72% 70% 18%
Source: Satmetrix 2011 Net Promoter Benchmark Study of US Consumers; Bain Analysis

54. 96%
of our clients would use us again

55. Surveys generate word of mouth

56. 40% + survey response rate
50%
40%
30%
20%
10%
21.0%
17.0%
11.0%
16.0%
11.0%
11.0%
10.0%
11.0%
34.7%
40.4%
42.2%
41.2%
43.3%
0%
JAN FEB MAR APR MAY JUN JUL AUG SEPT OCT NOV DEC JAN
Q1 Q2 Q3 Q4 Q1

57. Narrowed gap between closing and survey
Old: 2 – 6 weeks
New: 1 – 3 days

60. A memorable thank you
“Thank you for trusting us to assist you with
Life’s Biggest Purchase.”
“We value your business, and we would
appreciate any referral of friends and family
members who may need assistance with a
home purchase or refinancing.”

61. Blow away expectations
Be memorable
Build trust
Accelerate trust
Amplify word of mouth
Authentically thank customers

62. ..

63. Thank you
Bob Armour
bob.armour@guaranteedrate.com
@bobarmour