As society steers towards a healthier and more sustainable lifestyle, trends such as farm-to-table dining or programming have gained considerable traction. The concept of farm-to-table has found its way into various consumer sectors, creating a fresh wave of consumers who value sustainability and authenticity. One such sector experiencing this transformative wave is the lending industry. Today, we delve into the heart of this transformation via an interview with an industry influencer, Matt Van Fossen.
Matt Van Fossen is a remarkable figure in the lending industry, particularly for his revolutionary contributions to Total Expert. Total Expert is a purpose-led company on a mission to empower individuals to utilize their expertise, thereby influencing their personal growth and the growth of their affiliated organizations. Matt’s role at Total Expert has been instrumental in shaping the farm-to-table concept within the lending industry.
According to Matt, farm-to-table is an expression of controlling production, from the raw materials cultivated on the farm to the final product that graces the table. In the lending industry, it pertains to maintaining control over the entire lending process, from sourcing potential leads to closing transactions. Van Fossen believes that farm-to-table programming can provide a platform to keep everything in house, cutting out middlemen, and thereby enhancing efficiency and value for the customers.
As many lending organizations integrate this philosophy, it will become the norm rather than the exception. Lenders will have total control over their client’s journey, around-the-clock. Organizations can quickly respond to changing market conditions, such as interest rates fluctuations, and provide better service to clients in need of immediate assistance.
With his litigation background, Matt emphasizes the importance of compliance in the lending sector. He suggests that with a holistic system, lenders would have complete transparency into the lending process, which further enhances compliance. This view is echoed across the industry, with many experts stressing that a comprehensive view of operations ensures better quality control, risk management practices, and improved legal/compliance measures.
Customer experience is another crucial aspect touched by farm-to-table programming. In today’s digital world, consumers expect immediate responses and 24/7 connectivity. The farm-to-table approach allows organizations to meet these expectations more effectively. They can track, monitor, and respond to customer queries, needs, or concerns in real-time, leading to better satisfaction rates. Furthermore, a holistic approach gives lenders the ability to continually adapt their strategies based on evolving consumer preferences.
In terms of technology, Matt’s perspective is that data is the new “soil” that provides nourishment to any business looking to grow. Utilizing data efficiently and ethically has the potential to boost every growth strategy. Data analytics provides insights into customer behaviors and market trends, allowing organizations to stay ahead of the curve. Lenders can leverage targeted marketing techniques to reach potential clients and offer personalized lending solutions.
For lenders looking to adopt a farm-to-table approach, Matt suggests implementing a CRM (Customer Relationship Management) system. CRM system enables you to manage your relationships with your customers efficiently. It allows you to organize, track, and manage all your customer information and interactions in one place. A CRM can serve as a potent tool, streamlining communication channels, improving customer service, and assisting in the personalization of marketing endeavors.
Regarding leadership, Matt elaborates that cultivating a culture of growth and agility is essential to remain ahead in today’s rapidly evolving world. Successful leaders foster a growth mindset within their teams, promoting experimentation and learning. Van Fossen places great importance on learning, emphasizing that learning often occurs more rapidly when mistakes are made.
Scalability is another topic that Matt discusses at length. By adopting scalable practices, businesses can ensure their ability to handle an increasing amount of workload or expand in response to demand. Matt is an advocate of scalable practices being integral to the farm-to-table approach in lending.
Engaging customers effectively is key to developing a rich clientele. Matt suggests using educational content to engage new potential clients. When done right, educational content can empower the customers, making them feel knowledgeable and confident about their decisions.
To conclude, the farm-to-table approach brings a lot of possibilities, visibility, and control to the lending sector. Through this concept, lending organizations can better assist customers and adapt to changing market conditions, while ensuring the longevity and success of their ventures. With advocates like Matt Van Fossen, a whole new era is set to dawn on the lending industry, enhanced by data-driven decision making, customer-centric policies, and agile methodologies. This philosophy, while promising convenience and engagement for customers, also reaffirms their trust and loyalty with the organization. It’s surely a growing trend to watch!
