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.
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Experience Management : How Online Reviews Can Make or Break Your Company
- 1. Experience Management How Online Reviews Can Make or Break Your Company Laura Monroe, Director of Marketing, RealSatisfied @LauraMonroe
- 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. 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. 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. 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. Managing Your and Your Agent’s On line Reputation Means Managing Yo ur Customer’s Experience Not Just Reviews
- 7. While the vast majority of people read reviews online, only a very small minority write them.
- 8. Bad reviews will usually come Where and When you least expec t it
- 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. 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. Facebook is the leading resource for positive re views
- 12. “Absence of feedback is not a sign of satisfac tion”
- 13. Customer Experience Leadership Can & should be a part of your culture
- 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
- 16. Minimize negative reviews by adding a lay er to the review process – one that you control . Craft a valuable customer survey
- 17. All closed transactions should be surve yed
- 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. 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. Collect Feedback from First Time Customers • Say thank you • Give a perk – gift card, coffee, etc. • When collecting testimonials by email
- 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. 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. Competition Drives Improvement • Create benchmarks of excellence (recruiting) • Reward & celebrate agents on performance (retention) • Broker involvement on social media to amplify great revie ws
- 26. “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
- 27. © 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!
Notas do Editor
- Reviews have become the digital and social currency of trust and a happy customer experience. In an age when consumers feel like they have all the information they need to enter the housing market – their life jackets – they will look for the best person to guide them down the river. Reading reviews is a part of the their information gathering – and most, without a referral- will read up to 10 reviews before making a decision.
- What happens when they have reviews AND a referral? 78% of those sellers will choose an agent based on those referrals. 1) Who publicly loves our your brand? Make a list of people who are passionate about your service and ask them to get involved. 2) What are the things about our brand that customers love? Ask the previously identified cheerleaders as well as your internal team. What do you offer that no other brand does? When you talk to your customers, what gets them most excited? Why do they want to do business with you instead of someone else? 3) What would you want people to share? Brainstorm on what types of things you want people to talk about more than others. The more specific questions you ask, the better. 4) How can you make it easier for people to share information about what they love? Once you decide what you want customers to share, think about how you can make it easy for them. Is there an obvious social platform on which you can build this community? Or should you have something on your website? 5) How can you delight your brand fans? Remember: You not only want to get, but you need to continue to give. Think about your best customers and also those who are new and may appreciate the unexpected surprise from you. 6) How will you measure success? Like anything, you need to be able to measure what you are creating so you can understand the return on your investment and time. As these people are customers, you should be able to track their involvement with you.
- The subject of fake reviews has had a lot of news coverage and is clearly in the consciousness of the average consumer. It’s likely that they will only become more discerning in their trust of reviews as this issue becomes more prevalent.
- With the right framework, and a little strategic thinking, you’ll be gathering feedback from all manner of leads & customers. If you actually act upon the feedback you collect, it can be used to influence & transform your business on every level.
- I like to call this Experience Management: Today we’ll talk about ways to be pro-actively involved with your agents to manage the customer experience, your agent’s performance- and your companies glowing rep
- While we know that consumers use online reviews to determine trust – only a small few write them. (without being asked) But the goal for any one here- as an agent or a broker- is to go for the ultimate: amazingly delighted, and amazed clients.
- You may be here in this room to get a better understanding of how to use online reviews to build business. We’ll get to that, but let’s talk a bit about how they can work against you.
- Real estate is transactional by nature. It’s a numbers game – list price, mortgage rates, sales price, commission percentage – close. They are the milestones of a transaction- the goals that are reached- and the primary measurement of a successful customer and agent experience. But is it the true measurement of the maximum satisfaction of clients who will return and again and again, referral after referral? Do you have a way of measuring the percentage of agents who have happy clients?
- The wants, needs, and expectations of the customer should influence every decision your brand makes. Smart companies factor the customer into every company equation. In order to put the customer at the center of everything, change must come from the top and trickle down to the location level. Intelligent organizations align company culture with company goals.
- At it’s core, a feedback loop is a system that helps companies to gather external information about their services/products, add to that their own internal hunches and insights and in the end improve the service/product they were offering in the first place.
- Surveys, feedback system ,ask how are we doing?
- Surveys, feedback system ,ask how are we doing?
- Surveys, feedback system ,ask how are we doing?
- Depending on the goals of your feedback loop, this insight might be used to reduce churn & improve customer lifetime value, preemptively address major customer service issues, improve ux & design flows, convert more leads into customers, or rework your value proposition to further distinguish you from the competition. ::ahem:: This seems to be an appropriate time to remind you to stop putting off segmenting your customer database. market insights help your brand discover business opportunities and develop appropriate customer experience initiatives moving forward.
- market insights help your brand discover business opportunities and develop appropriate customer experience initiatives moving forward.
- market insights help your brand discover business opportunities and develop appropriate customer experience initiatives moving forward.
- market insights help your brand discover business opportunities and develop appropriate customer experience initiatives moving forward.
- Digital and web feedback. What’s converting- what is not?