ALTA recently held its annual ALTA ONE conference virtually and in-person in New Orleans, Louisiana. After a whirlwind year for the title industry with a historic level of transactions, ALTA ONE provided a chance to reconnect with colleagues from across the country to discuss trends and opportunities in the industry. Across the four-day ALTA ONE event, there were dozens of quality sessions to attend. While team Qualia couldn’t attend every session, we captured a few common themes consistent across several panels and presentations. Read on for our top takeaways from ALTA ONE 2021.
Regardless of your growth strategy, the right technology is key
There is quite a bit of conversation surrounding M&A in the title space right now, and ALTA ONE was no exception. The Omni Session “M&A Activity in the Title Industry: What Happens After the Deal is Struck?” was a well-attended and lively panel. Much of the conversation focused on the role of technology in powering successful mergers and acquisitions. We recently touched on this topic, and the speakers validated a point that’s often forgotten when executing a deal: your technology can be a major advantage. Not to mention, for SMB title companies looking to position themselves well for a sale, technology can be a big value add. With the right technology, a company can prove their value through detailed reporting & analytics on their sources of business and true-up their security practices with best-in-class systems.
ALTA ONE sessions also touched on the value of technology for organic growth. During the session “Beyond the Hype: Understanding Technologies’ Potential for Your Business,” panelists discussed the value of automation in reducing tasks such as clicking, rekeying, and manually scanning documents. Using technology to create efficiencies and deepen partnerships (by meeting SLAs) will be key for title companies looking to remain competitive.
Personalization is crucial for successful marketing
Marketing services and attracting new business can be challenging to balance when managing day-to-day operations at a title company, especially because title businesses must market themselves to both consumers and business partners such as lenders and real estate agents. A few sessions focused on marketing tips for business and brand growth. In the Engagement Lab “No More Snorytelling,” speakers encouraged attendees to personalize their marketing efforts to help their audience learn more about them. Finding a unique and human-centered marketing angle can help businesses elevate their storytelling to attract new business as well as new employees.
Companies must evolve to meet employee demands
In a post-pandemic world, many companies are struggling with employee engagement and retention—especially in a remote setting. The session “Company Culture…Does it matter? You bet it does!” validated that company culture is no longer an HR buzzword but a must-have for top companies. In looking for ways to increase company culture, title companies can offer professional development, flexible work schedules, and volunteer opportunities to support their employees. Even casual lunches as a team can increase employee engagement and help individuals feel more connected.
We recently previewed Tim Hooper’s ALTA ONE engagement lab on company culture, and our team was able to attend his live session at ALTA ONE. Hooper explained that company culture is not just something created by management. Instead, each member of an organization contributes to company culture—something he referred to as “every member culture.” To build a strong company culture, Hooper encouraged companies to offer mentorship opportunities, connect with employees during one-on-ones, and be consistent with training and career development.
