The Power of Secret Shopping Your Experience

At STRATMOR, we believe that prioritizing the customer experience and tracking business results is not only worth the time, but crucial for driving more revenue growth. Secret shopping is the best way for lenders to remove the disconnection between perception and reality and pave the way for meaningful improvements in customer experience. It can be used to explain why consumers might feel a certain way about a business, or more importantly why they might choose not to finish a transaction with a lender. When done discreetly, and well, it provides an unbiased audit of products, services and employees that can generate actionable data to use to improve overall experience and brand performance.

What is Secret Shopping?

Secret shopping, also known as mystery shopping, is a powerful tool that allows a lender to see the business through the eyes of the borrower. It involves hiring highly skilled industry professionals to interact with your loan officers, evaluate your service, and provide you with invaluable, detailed feedback.

The insights found allow the lender to:

Drive more volume from existing opportunities
See the reality of their sales process from initial conversation to any follow up
Compare the reality of the experience to sales leadership’s expectations
Analyze the marketing and messaging for alignment with consumers’ needs and wants
Test consumer-facing technology to identify gaps and technical issues
Provide recommendations for change to enhance the consumer experience and employee productivity

Why Secret Shop?

Objective feedback on your actual experience
Evaluate employee performance
Analyze your competitors simultaneously
Add qualitative data to your quantitative metrics
Protect your brand

The STRATMOR Solution

STRATMOR has created a best-in-class approach to secret shopping lenders which allows the lender to tailor the experience to meet their unique needs.

Detailed Reports: STRATMOR produces thorough slide decks which include executive summaries, screenshots of all email and text messages, voicemail recordings, shop timelines with all interactions and individual shop reports outlining highlights and lowlights.
Comprehensive Evaluation Criteria: By leveraging a consistent set of evaluation criteria, STRATMOR can compare all client shops for benchmarking purposes. This allows our advisors to offer additional perspective and insight by leveraging a large sample size of data points.
Actionable Insights: The goal is to produce tangible findings that executive leaders can use to improve. When loan officers receive feedback on reality, they are more inclined to make changes to their approach.
Ongoing Support: Our findings typically uncover workflow and other technical issues beyond just the 1:1 interaction with loan officers. STRATMOR can advise the lender on best practices to take corrective actions.

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What Our Clients Are Saying

The STRATMOR Group has the competency and discipline to assess current performance metrics relative to industry peers, and the experience to provide thoughtful considerations to maximize your mortgage team's future opportunities.
Andrew Guzzo - Chief Banking Officer and President, Merchants Bank
Absolutely loved our experience with STRATMOR. Every member of the team is knowledgeable, responsive and kind. Every aspect of the project was managed well, and we were delighted with the final results. I honestly can't say enough good things about the team and the service they provide!
Michael Murphy - Product Marketing, Reggora
The STRATMOR Team is highly professional, collaborative, and very responsive. The partnership began with the STRATMOR Team thoroughly understanding our needs, perceived issues, and potential problems. STRATMOR brought expertise to the table at every turn, and their solutions were sound and executable.
John Stocchetti - EVP, Group Head, Mortgage Partnership Finance® Program, FHLB Chicago
Through a fast-paced yet comprehensive dive into our Consumer Direct Division, STRATMOR helped Arvest chart the course to the next level. They understood our technology-minded goals and listened to our customer-focused priorities, to provide a highly actionable strategy document to help us navigate the path to even greater success.
Shawn Karnes - Executive Director, Mortgage Sales and Development, Arvest
Any bank struggling to make mortgage lending work should contact STRATMOR. They can help put together a strategy to improve efficiencies and profitability to make mortgage banking successful. And, if you already have a good mortgage lending team, STRATMOR can help identify ways to take it to the next level.
Paul Peterson - SVP, Director of Mortgage Banking, Glacier Bancorp Inc.

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