Adobe and Econsultancy’s Digital Trends Report 2019 is out, and we’re intrigued – but not surprised – by the findings! Among others, the report’s main findings indicate a strong correlation between company success and the delivery of a first-class, personalised customer experience.
Take a look at some of the latest digital trends for 2019 and how they relate to the property industry:
1. Focus on customer experience
The report found that only one in ten organisations view themselves as ‘very advanced’ when it comes to customer experience. In fact, over 50 per cent of companies still categorise themselves as ‘not very advanced’ and even ‘immature’ where CX is involved. This is concerning, but also presents a great opportunity for your property business to get ahead of the competition!
Organisations who classified themselves as ‘very advanced’ at customer experience are almost three times more likely to have exceeded their top 2018 business goal by a significant margin, indicating that exceptional CX and business success is closely correlated.
What property leaders need to understand is that the customer experience must be consistently prioritised at every level of the business. It doesn’t matter how much we try and sell a product if we don’t understand what our customers need, and don’t provide an exceptional experience. And the only way to advance in this area is by dedicating time and resources towards it.
2. Data is the new everything
Companies that treat their data as a valuable and critical competitive asset – while taking care to respect consumer privacy – can use it to help drive their commercial strategies through the development of a tailored and optimised customer experience.
The report found that effective audience segmentation and targeting is where most (55%) marketers will place increased emphasis over the coming years. The second most popular choice for marketers is ‘improving customer intelligence and insights for a holistic customer view’ (42%).
We need to understand who our customers are, how they behave and what they want in order communicate and market to them effectively.
3. Customer journey management holds the key to personalisation
A key requirement for delivering an enhanced customer experience is understanding the journeys taken by each user and what we can do to improve them. Ensuring high-quality experiences both online and in–person is a must in today’s world. It’s not enough to just have a nice display suite and a pleasant sales force anymore. We need to start looking towards the future – and the future is all about technology.
Why not offer potential customers something they haven’t experienced before, like a virtual reality tour of your new homes? Or something as simple as communicating with them via Facebook Messenger (about 15 million Australian’s use it on a regular basis).
By analysing data, keeping up to date with new technologies, and pushing the consumer–first agenda, we have the potential to better understand and connect with customers at the right time.
4. Control of data and security
In the aftermath of Cambridge Analytica and stricter consumer data protection laws, data safety and privacy have never been more important. Consumers expect their private data to be treated as just that – private.
As marketers, we collect data on the daily. We need to ensure that this data is secure and doesn’t end up in the wrong hands. We also need to convey that consumers can enjoy great benefits from sharing data with us, and it’s our responsibility to make sure there’s value in that exchange.
5. AI continues to grow
Artificial intelligence and machine learning are bigger than ever and there doesn’t seem to be a deceleration in its development anytime soon. We can assume that most homebuyers don’t want to buy property off a robot, but there are areas where AI can help out in our industry.
AI can enhance data analysis, which will enable more efficient mining and examination of the large quantities of data. Instead of spending hours trying to make sense of data, AI can do it for us, while we focus on what’s more important – the customer! Those in senior roles should make it their business to know how automation can improve business performance and encourage their teams to educate themselves on the topic.
To read the full report, click here.
At Property Republic, we’re experts at digital marketing. If you need help implementing an effective and future-forward marketing strategy, get in touch!