These days, quite a bit has been written regarding the customer’s journey as it relates to funneling potential buyers into a retail space and converting them to paying customers.
These days, quite a bit has been written regarding the customer’s journey as it relates to funneling potential buyers into a retail space and converting them to paying customers. Similar to how “The Hero’s Journey” can be used to dissect the structure of stories ranging from “Star Wars” to “Finding Nemo”, the underlying principles of how “potential” customers become “paying” customers holds the same across multiple fields. Whether the discussion is about selling shoes or retirement plans, the main points hold true, however, because the significant costs and potential upheaval involved in buying or selling property, that journey becomes a little rockier.
To understand how estate agents can help clients navigate this path we should start by defining that path. There are basically 6 phases along the customer journey. They are:
Consideration/defining the need. The customer has only just realised that they have a need and now they must decide how to address that need.
Discover/search. Now they must gather information that they will use further along in the process.
Select/compare. Once they have the necessary information, they will now make decisions regarding where to buy, what to buy, which agency to use, etc.
Verify/choose. During this phase, they begin to enter the final stretch. Documents must be gathered and a mortgage must be approved.
Purchase/contract. This is typically the final phase of the customer’s journey where paperwork is completed and contracts exchanged.
Complete/move. The old place is cleaned out and everything now moves into the new place. This journey is complete.
At each phase of this journey, the enterprising estate agent can use their marketing activities to target specific areas in order to increase revenues, improve the client experience, and create a more valuable customer relationship. We will take a look at each step in depth and discuss how Rezi can provide unique opportunities along the way.
In this first phase, the potential customer has just decided that they need to buy or sell a property. Unlike normal retail transactions, this decision is not entered into lightly and there is little chance that they will change their mind. Few things in life are as fraught as buying a home. It is therefore crucial that during this phase, your estate agency be seen as trustworthy, competent, and attentive.
First time buyers especially will want someone who is willing to take them by the hand and lead them through the rest of the journey. Before they ever see your website, Rezi can be at work behind the scenes making sure your agency puts its best face forward no matter what marketing channel is being utilised.
We’ve mentioned before the need for consistent branding and it is even more important during this phase. This is the first time that a potential client will start paying attention and when they do, they need to see a consistent, trustworthy brand image. Rezi can make sure that all of your email campaigns, brochures, mailers, and anything else you produce look like they came from the same place. “Consistency breeds respectability” is a common marketing proverb for a reason. If it doesn’t look like you can keep your own house in order, how can you be expected to help someone else with their’s?
The other opportunity during this phase is to pitch yourself as a “one stop solution” to everything they might need. From mortgages to removals, if your agency is seen as a single, dependable solution that can address a myriad of needs, well that’s one less thing to worry about. With so many third party apps able to connect to Rezi, the sky really is the limit when it comes to adding arrows to your quiver. Home buying and selling is one of the most stressful times in the average person’s life and being able to get everything in one place certainly has its advantages.
Use of the word “select” here is slightly misleading. Most people will continue comparing and changing their mind right up until they sign paperwork. Particularly now with so many online options available, they will likely choose more than one “just to see what’s available.”
For many homebuyers in the UK, 41% to be precise, most of the options they are given DO NOT fit their listed criteria. Rezi solves this problem by using more sophisticated algorithms to match clients only with properties they actually want to see. Besides being simply smarter, this also translates to the customer feeling that they are being hear. In other words, they are receiving personalised, expert customer service rather than being bombarded with information on properties they don’t want or need.
Now documents must be gathered and approval on mortgages must be obtained. For Rezi users and their nearly limitless ability to connect with other service providers, there are numerous opportunities for integration. Referrals for legal advice, mortgage providers, conveyancing, and more, the enterprising agent can extract more value from their customer by receiving commissions on any successful referrals.
This ability doesn’t just apply to those aspects of the journey that customers face now, but because Rezi can “future proof” your business, no matter what comes down the pike, the prepared agency can find a way to maximise value in the future, as well.
During this fraught phase, the customer is likely losing sleep at night wondering who has what paperwork and where they are in the process. With Rezi, however, the answers to those questions are just a few clicks away. From the 24/7 availability of Rezi Anytime to partnerships with apps like Signable, customers can see in an instant where everyone else is.
By keeping everyone on the same page and in the loop, nerves are calmed and peace is restored. Those well-rested customers will now be able to say how their agent kept them up-to-date on the progress of their sale no matter what time of day or night. This kind of positive word-of-mouth will translate into more customers all seeking that same level of personalised service, and with Rezi, it will be no challenge at all to provide it.
“The old place has to be cleaned out. We need to hire a truck for the move. AND we have a few small repairs to perform. Who do we know that can do all that?” With Rezi, you can fill your central database with anything you can think of to help your clients move house. Then when they ask, or preferably before that, you can provide a wealth of information to help them with a smooth transition.
Here, again, referrals and commissions can help your business extract the maximum value from your customers while also helping them. No one wants to spend all day looking for a good truck hire company or a cleaner. If you’ve done your job well and have established yourself as a trusted business, why wouldn’t you capitalise on your contacts and expertise? It just makes sense. That adds up to pounds.
At every phase, Rezi is designed to help you find more opportunities for revenue while still providing expert customer service. From vertical integration to third party applications, Rezi is bound only by your imagination and built to adapt to almost anything you can think of. To learn more about how finding new revenue stream.
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