PennyMac had a goal to accelerate its consumer-direct business, but the resources weren’t yet in place to help guarantee success. Leads were acquired and tracked individually by salespeople and marketing activities were dispersed among several vendors. They purchased HubSpot to help integrate all of their online marketing quickly. What they also found was a platform that would help propel them onto the national stage.
increase in leads year-over-year
increase in web traffic year-over-year
PennyMac Loan Services, LLC, is a U.S. residential mortgage company that was founded in 2008 to help distressed borrowers stay in their homes. It has since grown into one of the ten largest mortgage originators in the US. It is the principal mortgage banking subsidiary of PennyMac Financial Services, Inc.
When Jeremy Bachmann, Vice President of Online Marketing, first started at PennyMac, the company was looking to grow by rapidly expanding its direct-to-consumer lending business.
Just as the company was expanding its customer acquisition efforts, PennyMac faced two main obstacles in achieving its growth goals: Marketing activities were spread among different vendors and there was no centralized platform for lead management.
Each salesperson maintained his or her own lead list, an external web agency handled PennyMac’s website, and another vendor managed all of their email campaigns. Every marketing campaign was labor-intensive. This limited their ability to create content efficiently and see the results of their marketing efforts all in one place, since they had to piece together data from multiple sources.
PennyMac purchased HubSpot to help anchor their marketing around a single platform and help them to scale rapidly.
VP of Online Marketing
“We bought HubSpot along with some consulting hours, but I wanted to get started right away,” says Jeremy. He spent the first few weeks watching HubSpot Academy webinars, setting up landing pages, and exploring different tools. “HubSpot is self-evident, and the learning curve is surprisingly short. There are also a lot of resources available to help you. HubSpot is like a mini-university because our team learned more about inbound marketing the more we used the software.”
HubSpot allowed Jeremy to build out an integrated inbound marketing strategy that he could execute in one place. He now had a robust CRM to house his Contacts, the ability to send targeted Emails, and the flexibility to build custom Landing Page templates quickly and with multiple variations. In addition, HubSpot allowed PennyMac to implement a content creation strategy through its SEO and Blogging tools.
“We didn’t have a blog before HubSpot. Now it’s the focal point of our content strategy,” Jeremy reveals. In fact, PennyMac has become a blogging powerhouse in their industry, which has propelled them to the top of search engines and more than doubled traffic to their website. The blog has allowed PennyMac to greater understand each customer’s needs and interests, based on the content they engage with. Furthermore, Jeremy’s team now has the power to implement most of their online marketing through HubSpot (including email, blogging, and automation) and he has access to in-depth Analytics to help him monitor performance more easily.
After seeing such success in attracting more visitors to PennyMac’s website, Jeremy and his team began to build more custom landing pages to better convert those visitors into leads. “We were growing fast and I wondered whether or not HubSpot would scale with us”. Jeremy wanted to make sure his inbound marketing strategy and tools could keep up with the growth rate of the business.
- Jeremy Bachmann
In May 2013, PennyMac launched an IPO and debuted on the New York Stock Exchange. As of October 31, 2013, PennyMac's servicing portfolio was $52.9 billion, up 19 percent from the previous quarter. The company has grown exponentially since purchasing HubSpot a year and half ago, but HubSpot still remains their main go-to platform to support all their online marketing activities.
As the Vice President of a much larger enterprise, Jeremy has seen HubSpot successfully scale with his business. They have built custom integrations and are also early adopters of HubSpot’s Signals sales tool.
“I’ve been approached by other companies who sell marketing automation software but, I have no reason to leave HubSpot”, says Jeremy. “I already have everything I need.”
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