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Digital transformation in Real Estate

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Jo Caudron spoke about managing digital transformation in Real Estate at CIB Vastgoedcongres 2015.

No sector is safe from disruption, you have to start acting today to transform your company for a digital-first future.

Published in: Real Estate

Digital transformation in Real Estate

  1. 1. Managing Digital Transformation November 2015 jo.caudron@duvalunion.com / @jcaudron / +32 475 43 80 98
  2. 2. @jcaudron • we are a digital and innovative marketing consulting company • founded in 2009 as Dearmedia, now the nucleus of the Duval Union ecosystem • we work for large European clients • we have a strong vision on the impact of digital and act accordingly • we are advisors, writers, coaches and entrepreneurs
  3. 3. Hi, I’m Jo Caudron Active in digital since 1993 Internet entrepreneur involved in 20+ start-ups. Founding Partner of Are you an active social media user? Do you embrace new technology? Do you get your kicks from new business models? Who are you?
  4. 4. Digital disruption is real. Expect a smack in the face…
  5. 5. who is your…
  6. 6. @jcaudron Waves of Digital Disruption 1995+ Music Photography Video Rental … 2005+ Print Media TV Travel Real-Estate HR … 2015+ Finance Healthcare Automotive Real-Estate Retail Education Telco … 2020+ All Safe havens will be subject to digital disruption …
  7. 7. Lack of understanding creates fear
  8. 8. Putting things in a frame creates insights
  9. 9. @jcaudron What can we learn?
  10. 10. Transparency Accountability Proximity Responsiveness Bi-directional Humanization Authenticity The Glass House The relationship is changing. This metaphor describes the changing relationship between the organization and the outside world.
  11. 11. Transparency Accountability Proximity Responsiveness Bi-directional Humanization Authenticity The Glass House
  12. 12. Transparency Accountability Proximity Responsiveness Bi-directional Humanization Authenticity The Glass House
  13. 13. Product, services and packages are changing. From bundling to unbundling. This metaphor describes the evolution of unbundling and how this changes the products and services you offer and your go- to market. Monolithic vs. atomic APPification Long Tail Personalized Experience Speed Price (Self-)service Scalability The Package
  14. 14. Monolithic vs. atomic APPification Long Tail Personalized Experience Speed Price (Self-)service Scalability The Package
  15. 15. Monolithic vs. atomic APPification Long Tail Personalized Experience Speed Price (Self-)service Scalability The Package versus
  16. 16. Monolithic vs. atomic APPification Long Tail Personalized Experience Speed Price (Self-)service Scalability The Package
  17. 17. This metaphor describes the by-passing that you are subject to or that you can perform yourself, leading to a change in the existing value chain. The position in the value chain is challenged. Bypassing Virtualization Fragmentation of touchpoints The Frog
  18. 18. The Frog Bypassing Virtualization Fragmentation of touchpoints
  19. 19. The Frog Bypassing Virtualization Fragmentation of touchpoints
  20. 20. This metaphor describes the change of opinion making, of leadership, the entrance of new players that dominate the attention of the people. New gatekeepers Recommendations “Good is good enough” Ambassadorship The Gatekeeper Opinion making is challenged.
  21. 21. New gatekeepers Recommendations “Good is good enough” Ambassadorship The Gatekeeper The traditional gatekeeper Crowd-sourced opinions Peers as news distributors Automatic algorithms New “experts” +
  22. 22. New gatekeepers Recommendations “Good is good enough” Ambassadorship The Gatekeeper
  23. 23. This metaphor describes the change of location and place, the emergence of hybrid models that merge online and offline, to create a consistent user experience and customer journey. The Traveller Place Utility Empowered self Instant gratification New way of working Contextual awareness Primary location and place of consumption is changing
  24. 24. The Traveller Place Utility Empowered self Instant gratification New way of working Contextual awareness
  25. 25. PLACE OnlinePoS Hybrid Omnichannel (digital entering PoS) (all functions go digital too) The Traveller Place Utility Empowered self Instant gratification New way of working Contextual awareness
  26. 26. The Traveller Place Utility Empowered self Instant gratification New way of working Contextual awareness
  27. 27. This metaphor describes the importance of the crowd, the power that it represents for the good or the bad of the organization. The Participant Community Gamification Collaboration The power of the crowd Sharing economy Consumers are uniting and creating powerful communities
  28. 28. The Participant Community Gamification Collaboration The power of the crowd Sharing economy Sharing economy
  29. 29. The Participant Community Gamification Collaboration The power of the crowd Sharing economy
  30. 30. This metaphor describes the fact that we are just at the beginning of the digital revolution, which means that all of the change that is already happening is probably just scratching the surface. The Cyborg Internet of Things Wearables Quantified self Robotics Data Monitoring Technology keeps progressing.
  31. 31. The Cyborg Internet of Things Wearables Quantified self Robotics Data Monitoring
  32. 32. The Cyborg Internet of Things Wearables Quantified self Robotics Data Monitoring
  33. 33. So now that you understand Digital Disruption, how do you start the actual Transformation?
  34. 34. Stop talking, start doing! Sold in over 30 countries
  35. 35. You’ll need Digital Leadership
  36. 36. You’ll need balance between your traditional strengths and real innovations versus
  37. 37. You’ll need a strong vision on your future
  38. 38. You’ll need a plan with real actions, a Digital Agenda, a roadmap for the future
  39. 39. So, do the following examples scare you or inspire you?
  40. 40. The trade is going digital
  41. 41. The easiest way to launch a real estate website
  42. 42. Explore properties in virtual reality
  43. 43. Periscope-based visits to apartments you might want to rent
  44. 44. Using Drones for Real Estate Photography But watch out….
  45. 45. But, watch out for new players
  46. 46. Google search has a built-in mortgage calculator
  47. 47. Google ‘house prices’ plug-in
  48. 48. Find the agent who meet your needs
  49. 49. Discover homes that match your lifestyle and taste Find the best agent for you. Data- driven, unbiased, personalized and free.
  50. 50. Find unlisted homes
  51. 51. Buy a home without a real estate agent
  52. 52. Even in Belgium…
  53. 53. Brokerage app has lured top talent from tech giants like Google and Twitter. Market valuation: USD 800.000.000
  54. 54. New Ways of Financing
  55. 55. Finances real estate through a form of crowdfunding
  56. 56. Real Estate Crowdfunding
  57. 57. Get a real estate loan. No bank required. “We believe a technology-enabled marketplace that brings together borrowers and investors is the future of mortgage.”
  58. 58. New Business Models
  59. 59. Flatbook pays your rent while you're away
  60. 60. A subscription service that provides care and repair for your home
  61. 61. New B2B Business Models
  62. 62. Find and rent a workspace for anytime for any duration
  63. 63. Online marketplace for office spaces
  64. 64. Data, Threat or Opportunity?
  65. 65. Commercial real estate data analytics & research platform
  66. 66. Data Management & Analysis for Real Estate Developers
  67. 67. Crowdsourced Data Exchange for Commercial Real Estate
  68. 68. Democratizing data for the real-estate consumer
  69. 69. Find out if anyone died in your apartment
  70. 70. Is this really happening?
  71. 71. So, did these examples scare you or inspire you?
  72. 72. Go for new business models and revenue streams! Claim Back Native Assets Copy leading markets (US …) Learn from other industries Future Ideas Current Strength Future Strength +
  73. 73. What is your digital future? Understand Digital Impact1 Get Digital Leadership2 Create a Vision of the Future3 Build a Digital Roadmap4 Go for new business and revenue streams5
  74. 74. Managing Digital Transformation November 2015 jo.caudron@duvalunion.com / @jcaudron / +32 475 43 80 98

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