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Customer Stories

Leader Bank saves $164K over three years with Calendly

READ TIME: 5 MINUTES

The lending team struggled to keep up with client demand during the pandemic. Calendly helped them better manage their time and open new sales funnels.

Use case

Customer Service

Industries

Technology

Team size

100-500 employees

Product features

Collective, Website Embed, Managed Events, Integrations

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Customer Stories

Leader Bank saves $164K over three years with Calendly

READ TIME: 5 MINUTES

The lending team struggled to keep up with client demand during the pandemic. Calendly helped them better manage their time and open new sales funnels.

Challenges

Updating processes to serve an influx of new clients

Leader Bank, a financial institution based in Massachusetts, is dedicated to helping clients achieve financial prosperity. 

For their Residential Lending team, this means providing one-on-one support to those looking to obtain or refinance a mortgage. 

“Mortgages are daunting for clients who are making one of their biggest life decisions,” says Eric Prue, First Vice President of Residential Lending Innovation. “People want to talk to us and be reassured they are making the best decision possible.” 

Part of Eric’s role is to manage the technology used in Leader Bank’s mortgage division. 

In 2018, Eric set his sights on making it easier to schedule meetings. Loan officers used email to manually plan and schedule meetings with clients. Lengthy email back-and-forths took up officers’ valuable time — time they could spend securing the best loans for clients. 

Calendly promised to speed up this process by letting clients schedule meetings with loan officers in just a few clicks. 

Eric set up a three-week pilot with top loan officers but they received pushback. The team felt using Calendly made them seem hard to contact directly. They wanted clients to know they were accessible and ready to engage with them.   

Then, in 2020, the COVID-19 pandemic struck, and interest rates lowered. As a result, mortgage rates skyrocketed and the team at Leader Bank was, in Eric’s words, “trying to drink from a fire hose.” 

A vast number of new and existing clients wanted to take advantage of new rates, yet struggled to find a time to meet with everyone. 

“We wanted to help loan officers manage their time,” says Eric. “It took about five emails to schedule every appointment and we wanted to eliminate that.”

Remembering Calendly offered self-serve and time-blocking features, Eric signed up to help the team during an extraordinarily busy time.

Solution

Serving thousands of clients with intuitive self-serve scheduling

At first, Eric’s team used Calendly very simply. Loan officers sent Calendly links to existing clients who wanted to schedule meetings. 

Using Calendly during such a busy time allowed staff to control their calendars and still provide a personalized client experience. 

Calendly eliminated back-and-forth emails, and loan officers saw that Calendly actually provided a better client experience. “It surprised us that clients started using the cancel and reschedule features without any coaching. Calendly is intuitive enough for them to figure it out.”

As client volume started to wind down, Eric took the opportunity to automate more workflows and use Calendly to help build a pipeline for new business. 

Using Round Robin events to manage prospects  

Calendly’s Round Robin feature helps prospective clients book meetings at the best time for them. 

Here’s how it works:

The Leader Bank in-house sales team booking page is embedded on the website. The page shows three home loan divisions: Refinance, Home Purchase or Pre-Approval, and Home Equity Line of Credit.

Visitors choose the topics they’d like to discuss, and Calendly shows a calendar with the combined availability of all Leader Bank team members, so prospective clients have more time slots to choose from.

The visitor chooses which time works best for them, and Calendly automatically assigns the meeting to a team member available at that time.

“Most people choose to schedule an appointment with us [through Calendly], even though we have a phone number clearly displayed on our website. The ratio is 20 to 1,” says Eric.

Prospects can also book meetings directly with the Leader Bank team from a Round Robin booking page embedded on the website of one of Leader Bank’s top referral partners.  Multiple available time slots mean more opportunities to drive conversion. “We have an exclusive, nationwide mortgage referral partner and we use Calendly to drive our digital workflow.”

Booking one-on-one events with clients 

Individual loan officers have their own personal scheduling links to book meetings with prospects and existing clients. Scheduling links are added to email and CRM signatures and on Leader Bank’s mobile app. 

Loan officers use custom questions on the booking page to gather context before calls, helping create a more personal, customized client experience. Calendly integrates with Zoom and Microsoft 365, so officers can take meetings from anywhere, anytime.

Results

$164K cost savings and 2,750 hours saved 

Over the last three years, the Leader Bank Residential Lending team has saved 2,750 hours with Calendly.  

Using Calendly has sped up scheduling, making it easier for prospects and clients to connect with brokers. It used to take about five emails to schedule one meeting. Now it takes seconds to make an appointment.

“In times of high volume, Calendly is a major time saver. We’ve had around 11,000 appointments booked since we joined. That's a ton of emails we haven’t had to send,” says Eric. 

Calendly has also made it easier for Leader Bank to manage its relationship with a top referral partner. “Calendly is the backbone of our mortgage referral partner program,” says Eric. “It’s made a huge impact because clients can book meetings whenever they want.”  

Overall, using Calendly has led to a cost saving of $164K and counting and a 764% return on investment. One of the biggest impacts has been using Calendly to convert prospects at all hours. “Calendly allows us to open up sales funnels that are always on. We can book meetings with prospects even if we aren’t actively talking to them,” says Eric.

Ready to explore what Calendly can do for your bottom line? Get in touch with an expert today.

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Share your Calendly link right from your browser, so you can schedule meetings without the back-and-forth