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Experience Management : 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 : 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 review s 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 BEGU N 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 Insi 80% of companies say they’re customer centric, yet only 8% of customers agree.
  6. 6. Managing Your and Your Agent’s On line Reputation Means Managing Yo ur 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 expec t it
  9. 9. Customers Want to be Valued and He ardHow many of your customers do you thin k would agree that you are customer centric? Do you know for sure?
  10. 10. From the moment a customer walks in the door or pi cks 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 re views
  12. 12. “Absence of feedback is not a sign of satisfac tion”
  13. 13. Customer Experience Leadership Can & should be a part of your culture
  14. 14. “I think its very important to have a feedbac k loop, where you are constantly thinking about what you've done, and how you coul d be doing it better.” Elon Musk, TESLA
  15. 15. The testimonial Customer feedback
  16. 16. Minimize negative reviews by adding a lay er to the review process – one that you control . Craft a valuable customer survey
  17. 17. All closed transactions should be surve yed
  18. 18. Provide agents with the proper training and to ols• 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 Act ion • 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 revie ws
  24. 24. “Whilst many of us see the future of our industry i n 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 th e courage to listen and change.” Grant Herrod, CEO LJ Hooker, Australia
  25. 25. © 2015 Coldwell Banker Real Estate LLC. All Rights Reserved. Coldwell Banker Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Coldwell Banker and the Coldwell Banker Logo are registered service marks owned by Coldwell Banker Real Estate LLC. Each sales representative and broker is responsible for complying with any consumer disclosure laws or regulations. Nothing in this document is intended to create an employment relationship with the Coldwell Banker office or Coldwell Banker Real Estate LLC. Any affiliation by you as an agent with Coldwell Banker is intended to be that of an independent contractor sales associate. THANK YOU!