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The real estate business is not immune to the advancement of technology, as digitalization starts taking over all aspects of human life. Real estate companies, however, should not resist the change, but rather embrace it and integrate it into their daily routines.
Technology is shaping the new-age customer experience by providing conveniences and capabilities that were previously impossible. An important fact is that companies are not the ones driving the development, but rather the customers themselves. To stay relevant in their respective industries, businesses are required to adapt to the shifting paradigm of the customer experience, or else be left behind and unable to catch up to the rapidly changing environment.
Marketing, like many aspects of the property sector, is taking advantage of technology for the benefit of both companies and their clients. Here is how digital transformation is changing the landscape of real estate marketing.
Seamless Communication
The development of technology has enabled seamless communication between real estate companies and their clients, allowing firms to reach out to interested customers through their websites and forums, and people to ask businesses any question that they may have in mind.
In comparison, real estate marketing previously relied on face-to-face meetings, such as in kiosks in public places and open houses. While these methods are still used for certain advantages, real estate companies will be able to enjoy expanded marketing initiatives by leveraging the various communication channels that are available to them.
On the other hand, customers in the digital age expect to easily reach businesses for their queries. This means that real estate companies should establish their preferred communication channels and inform their potential clients so that there will be no missed opportunities.
Data Gathering
Gone are the days when gathering data about the target market or a set of customers is done through face-to-face surveys and information sheets. Websites and apps are capable of collecting data faster and more completely, to provide real estate companies with the insight that they need for their marketing efforts.
Technology not only simplifies data gathering but also makes storage and analysis much easier too. Softwares may be leveraged to process information into easy-to-read data, to show companies any trends that they may have missed and any opportunities that they may act upon.
Of course, companies will need to follow privacy guidelines when collecting information from customers, including making sure that clients are aware of what will be done with the data, and protecting them from misuse.
Personalized Experiences
The customers of today want to be treated as unique individuals, and with the available technology for seamless communication and data gathering, real estate companies will be able to deliver.
People are more likely to become customers if the company recognizes them by name, knows their purchase history, and makes recommendations based on their past investments.
Real estate marketing will feel more personalized if representatives remember the properties that customers have purchased, and reach out to them once similar properties are available. For new clients, the personalization will come from gathering all the data about them and making a recommendation based on that information.
Process Automation
Automation, which places tasks on autopilot, simplifies repetitive and tedious tasks by placing them under the control of computers.
Examples of automation in action are automated phone systems to direct callers to the proper department, chatbots on websites and apps to answer frequently asked questions, and accounting software that will generate regular reports on the company’s finances.
It should be noted, however, that the automation of processes does not mean that human employees will be replaced. By eliminating the need to oversee these tasks, the employees of real estate firms will be able to focus on more productive tasks that automation is not capable of handling, such as the development of marketing plans and implementation of marketing initiatives.
Social Media
Arguably the most important thing to happen to marketing this century is the propagation of social media, namely Facebook, Instagram, Twitter, and the like.
Social media has created new avenues for businesses to share content, speak with customers, and learn about their target market. For real estate companies, photos and videos of properties that are uploaded online now supplement flyers and open houses. Through the reach of social media, marketing initiatives and materials easily have a worldwide audience.
For potential clients, social media provides an entry point into an industry, a product, or a company, allowing them to decide on real estate as an investment, the type of property that they want, and the developer that meets their needs.
Lastly, social media expands the customer experience beyond the point-of-sale more than any other channel, empowering clients and keeping businesses on their toes.
New-Age Customer Experience at The Outlook Conference 2019
New-Age Customer Experience: Transforming Real Estate Marketing in the Age of Disruption is one of the topics at the upcoming The Outlook Conference 2019 by Lamudi. It will be the perfect venue for real estate firms to learn more about the future of marketing in the industry
The Outlook Conference 2019 will be held at the Makati Shangri-La on October 17, featuring five sessions on various aspects of the booming real estate industry in the Philippines. In addition to New-Age Customer Experience, the other sessions at the conference are titled Smart Planning: Creating Value in New Markets; Fresh Perspectives: Mapping the New Sales Matrix; Paradigm Shifts: The Future of Sharing Economy; and Changing Face: Uncovering Alternative Ways to Invest in Real Estate.
Real estate companies who would like to send representatives to the annual event, which will look to highlight key trends and initiate important conversations on the current state of the property sector, may send an email to theoutlook@lamudi.com.ph.
Sources: Forbes, Medium
Read our previous journal to know more about The Outlook Conference.
