Build dynamic workflows based on milestone updates.
Milestones are one of the most powerful functions in the Daily AI CRM. They allow robust workflows to be triggered based on a manual milestone update or an automated update. This is a more advanced guide to show best practices and give specific examples of how to best leverage the milestone functionality. If you have not yet read the “Getting Started with Daily AI Milestones,” please review that article before reading this guide.
Tip: Milestones can also be called statuses — the two are interchangeable.
Optimizing Prospect Milestones
Prospect milestones are designed to help convert and manage leads before there is a tangible transaction associated with them. As such this section will focus on optimizing lead conversion, and referral partner engagement.
Consider the following scenario: (1) A referral partner gives you a lead, (2) you try to engage the lead but they do not respond, (3) you get busy and forget to keep reaching out to the lead and the referral partner reaches out wondering what is going on. Ever happen to you?
Here is how you can make sure that never happens again.
Tip: Many accounts will have this workflow already built in. This is to explain how to create it from scratch.
- Create a milestone “Called Left Voicemail” and “No reply to outreach.”
- Create a “high touch” drip campaign designed to reach out to a lead several times over a week.
- Create a “low touch” drip campaign designed to engage a lead with less frequency over the span of a year or multiple years, such as sending an sms/email every few weeks.
- In the “high touch” campaign: scroll the bottom and select “update status upon completion.” Select “No reply to outreach” and save. This will automatically adjust the status of the contact to no reply to outreach if they do not reply to the “high touch” campaign.
- For the milestone “Called Left Voicemail” add the “high touch” drip campaign to the borrower, and also create an sms to go out to the referral partner.
- Remember - milestones work like this. “Action” - what do you want to have happen (sms, email, task, mms, drip). “Share with” - who do you want this to go to (borrower, referral partner).
- For the milestone “no reply to outreach” add the “low touch” campaign to the borrower, and also add a new sms action to the referral partner letting the referral partner know you have tried reaching out multiple times and have not heard from them.
Tip: Drip campaigns can update the status of a contact upon completion. This allows you to notify the referral partner each time a status is completed and assign the borrower to a new drip campaign.
Optimizing In-process Milestones
In process milestones work similarly to prospect milestones, but have a few more “bells and whistles.” We will discuss the concept of designations and workflows to help you get the most out of the in process milestone functionality.
First, designations allow you to segment your team into different roles associated with a transaction. For instance, a loan officer may have a processor, assistant, marketing manager, or even multiple team members.
The In Process milestones allow you to “share with” additional parties and to also “share from” different team members. Consider the following example:
A file moves to “Conditional Approval.” In this instance, the loan officer may want to send an sms to the buying and listing agent, but would prefer their assistant or processor to send an sms to the borrower/co borrower.
To accomplish this you would:
- Select action “sms”
- Select Share with “buying agent” and “listing agent”
- Specify the content you wish to share and specify the “loan assignee”
- Select action “sms”
- Select share with “borrower” and “co borrower”
- Select share from “loan officer assistant” or “loan processor”
Tip: Loan Assignee will be the file owner in the LOS system.
Tip: A “loan officer assistant” must be manually assigned in the transaction, or else it will not know who to send the sms from.
Moving on to workflows:
After clicking on “in process” you will see “Primary Workflow” and “Secondary Workflow” at the top of the screen. You will also see “Loan Purpose” on the top right.
This will allow you to segment workflows based on the “Loan Purpose” field. For example, a primary workflow may be “Purchase” while a Secondary workflow may be “Refinance.” This will allow you to customize the content based on whether the loan is a purchase or a refinance.
Similarly, certain clients use this functionality to denote a “spanish speaker” or an “english speaker” to trigger different workflows based off the purpose of the loan. Speak with your Daily AI account representative for more information on how to set this up.
Note: The Loan Purpose field must exactly match the purpose you assign to each workflow.
Lastly, the “stop communication” button will allow you to not send communication if it is within a certain date. For example, if the transaction is “clear to close” the same day as the “funded date” you may want to not send out communication to the buying/listing agent.
In this event you may specify only to notify the buying/listing agent that a transaction is “clear to close” if it is before 3 days of the “funded date.”
The date functionality allows you to set up task assignments based on key dates in a transaction.
For example, you may create a task to trigger 7 days before the “lock expiration date” for the loan officer assistant to check in with the borrower. Additionally, you may create a task to trigger one day after “funded date” to send a gift to the borrower and co borrower.
You may specify task assignee based on the designation (processor, marketing manager, etc.) or based on a specific user on your team.
We do not have the ability to trigger actions (sms, etc.) based on dates at this point in time. However, this functionality is being worked on and will be released in the coming months.
If you have further questions on how to optimize milestones for your account, please feel free to contact your Customer Success Manager.