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Experience Management for Real Estate: How Online Reviews Can Make Or Break Your Company

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The road to customer experience excellence is paved with customer insights. Understanding how online reviews can make or make your brand. This presentation is for brokers, and real estate leaders.

Published in: Real Estate
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Experience Management for Real Estate: How Online Reviews Can Make Or Break Your Company

  1. 1. Experience Management! How Online Reviews Can Make or Break Your Company Laura Monroe, Director of Marketing, RealSatisfied @LauraMonroe
  2. 2. 88% Of Consumers Trust Online Reviews As Much As Personal Recommendations Consumers read an average of 10 reviews before making a decision
  3. 3. 78% of sellers still find their agent based on the referral of a friend or family member, or by having previously done business with the agent or broker. ! *RealSatisfied Seller Survey Results FACT
  4. 4. The real estate industry has only just BEGUN to incorporate online ratings & reviews But they don’t own the customer experience – you do
  5. 5. The Road to CX Excellence Is Paved with Customer Insights 80% of companies say they’re customer centric, yet only 8% of customers agree. ! !
  6. 6. Managing Your and Your Agent’s Online Reputation Means Managing Your Customer’s Experience Not Just Reviews
  7. 7. While the vast majority of people read reviews online, only a very small minority write them.
  8. 8. Bad reviews will usually come Where and When you least expect it.
  9. 9. Customers Want to be Valued and Heard How many of your customers do you think would agree that you are customer centric? Do you know for sure?
  10. 10. From the moment a customer walks in the door or picks up the phone, you can have very specific protocols aligned with your visions around how that customer will be treated.
  11. 11. Facebook is the leading resource for positive reviews
  12. 12. “Absence of feedback is not a sign of satisfaction”
  13. 13. Customer Experience Leadership Can & should be a part of your culture
  14. 14. “I think its very important to have a feedback loop, where you are constantly thinking about what you've done, and how you could be doing it better.” Elon Musk, TESLA
  15. 15. The testimonial! Customer feedback!
  16. 16. Minimize negative reviews by adding a layer to the review process – one that you control. Craft a valuable customer survey
  17. 17. All closed transactions should be surveyed.
  18. 18. Provide agents with the proper training and tools •  Equip agents to inform clients during listing presentations or interviews •  Provide email templates that they can personalize to help them do this
  19. 19. Clarity of Data Leads to Effective Action •  Where is your business coming from? (web, portals, etc.) •  What “factors of influence” are used to choose an agent? •  What improvements can be made to agent performance? •  What is the return rate for testimonials and reviews? •  What do clients love about their agent? •  What insight on coaching or training opportunities? !
  20. 20. Collect Feedback from First Time Customers •  Say thank you •  Give a perk – gift card, coffee, etc. •  When collecting testimonials by email !
  21. 21. Collect Feedback from Repeat Clients •  These are your brand ambassadors •  Client thank you events •  Give them something awesome to share on social media or otherwise !
  22. 22. Missed Opportunities •  Lost listings •  Welcome emails •  When collecting testimonials •  Online website visitors •  Un-opened emails from subscribers •  Non-returning customers •  Website leads who return but haven’t been contacted !
  23. 23. Competition Drives Improvement •  Create benchmarks of excellence (recruiting) •  Reward & celebrate agents on performance (retention)! •  Broker involvement on social media to amplify great reviews
  24. 24. “Whilst many of us see the future of our industry in technology leadership, if we don't do the basics right we will not earn the right to a future. Asking our customers for feedback, is not a revolutionary concept. The challenge for everyone is having the courage to listen and change.” Grant Herrod, CEO LJ Hooker, Australia

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