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Thought Leadership

A place to keep up-to-date with the latest marketing trends

Customer Experience

The Property Republic team recently unpacked the Customer Experience Company’s annual Global CX Trends webinar, which brought together two CX leaders with over 25 years of experience. The panel featured the Founder and Managing Director of The Customer Experience Company, Raj Mendes and Founder of The CX Academy, Ireland, Michael Killeen.

 

Together they joined forces to discuss the emerging trends in the Customer Experience world and provide tips on how companies can turn these trends into opportunities. 

 

Trend one explores how organisations are facing more complexity.

 

As panelist Raj Mendes said, “It’s no accident [that] ‘complex’ begins with C and ends in X”

 

Here’s what was discussed:

 

Today, organisations are facing more complexity than ever before as the global economy undergoes the greatest technology transformation in history. 

 

There are at least 5 innovation platforms that are highly advanced and working in parallel: 

  • machine learning / artificial intelligence, 

  • genomics, 

  • robotics, 

  • energy storage, and 

  • blockchain.

 

These platforms are making this one of the most transformative periods in history, just like but bigger than the late 19th century with the emergence of internal combustion engines, electricity and radio. It’s exciting, but it is also incredibly challenging for many industries and organisations, and as we have already seen, many organisations will adopt these technologies but execute on them poorly, leading to a poor customer experience.  

 

These platforms will do one of two things, either they will have a great positive impact, pushing industries and experiences forward into the future, or they will be destructive. The stakes are high and you’ll either see a compounding effect with exponential pain or, if you get it right, you will achieve exponential gain. 

 

To stay ahead of this complexity, you need to understand gaps in the market you play in, what your customers need, and what they value before fulfilling them. Remember also that your ‘customers’ are not just those who purchase or use your offering. Define your ‘customer’ as anyone who your organisation offers value to; the customers themselves, your stakeholders, employees, suppliers. Each and every of these customers’ needs and values can be innovated for. 

 

Starting by understanding those needs and values will allow you to use these platforms in the right way to enable the development of new products, services, and experiences that deliver value back to your customers. 

 

Key considerations for your property business:

 

1. What are the gaps in the market, and how can you fill them?

2. What do your customers need, and how can you meet these needs?

3. What do your customers value, and how can you deliver on these values?

Remember – customers aren’t just people who have purchased from your brand. The term encompasses anyone who your property business offers value to.

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Strategy

The Property Republic team recently read and unpacked the 2022 Trend Hunter Report to see how property brands can stay ahead of the curve and respond to changing expectations and behaviours. Here are the report’s top 5 sustainability trends, insights and key takeaways your property business needs to be aware of:

 

1. Waste Reduction

B2B waste-reduction platforms, initiatives and collaborations are on the rise.

 

Trend: As brands look to become more environmentally friendly, they’re increasingly turning to businesses that specialise in waste-reduction. Everything from food waste to textile waste is now being addressed and repurposed by emerging B2B businesses.

Insight: As consumers become more eco-friendly, they’re putting more pressure on brands to do the same, and to help them adapt their lifestyles to reduce their personal impact. Brands that make these adjustments in authentic ways appeal to the growing demographic of eco-conscious consumers.

 

Takeaway: How can you better prioritise eco-friendly operations?

 

2. Eco Retailer

Brands offer eco-friendly in-store designs and solutions.

 

Trend: To show their commitment to environmental issues, some brands are implementing eco-friendly designs and solutions in their stores. These include everything from plastic bans to using solar-powered energy.

Insight: As consumers’ concern for climate change and its consequences grows, they’re turning their expectations onto brands rather than just themselves in making a positive change. Understanding that ecological issues are caused more by institutional factors than they are individual actions, consumers are increasingly expecting that brands make changes to lessen their impact on the environment.

 

Takeaway: How is your brand lessening its environmental impact?

 

3. Solar energy Powered Retail

Solar energy is increasingly utilised by the retail and restaurant industries.

 

Trend: Retail and dining establishments are moving brick-and-mortar spaces that are fully powered by solar energy. In doing so, companies are successful in minimising harmful energy use, while simultaneously catering to the concerns of the eco consumer.

Insight: Many consumers—especially Millennials and Gen Z—are conscious about the state of the environment, and the threat of pollution and climate change. As such, individuals are continuously emphasising the importance of sustainable decisions and are taking it upon themselves to hold brands accountable. Through this activism, consumers are experiencing peace of mind for taking care of the environment, and as a result, are drawn to brands that reflect similar values.

 

Takeaway: How can your brand better cater to the eco consumer?

 

4. Repurposed Species

Brands use invasive species to create products and help the environment.

 

Trend: Invasive species in bodies of water can severely impact biodiversity, and some brands are aiming to do something about it with products that use these species in their ingredients or materials. Everything from pet food to tiling is now incorporating invasive species to reduce their environmental impact.

Insight: As consumers become more aware of the many ways in which environmental damage is occurring around the world, they increasingly appreciate brands that promise to alleviate some of those issues. Moving forward, more consumers will prioritise sustainability in their lifestyles and purchase decisions.

 

Takeaway: How is your brand prioritising sustainability?

 

5. Printed Climate-Proof

3D-printed housing prioritises protection from the elements.

 

Trend: As climate change becomes an important factor in how new homes around the world are built, 3D-printed housing is making the process of designing natural disaster-proof housing easier. These homes offer sustainable and protective construction that avoids structural issues in the case of extreme weather.

Insight: As consumers become increasingly concerned about how current and impending weather changes will impact their lives, more are turning to longer term investments and choices that guarantee them some level of protection when it comes to the consequences of climate change. These changes can exist in everything from housing to where people choose to live.

 

Takeaway: How is your brand prioritising long-term sustainability and protection for customers?
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Customer Experience, Strategy

The Property Republic team recently read and unpacked the 2022 Trend Hunter Report to see how property brands can stay ahead of the curve and respond to changing expectations and behaviours. Here are the report’s top 4 consumer priorities trends, insights and key takeaways your property business needs to be aware of:

 

1. WFH Prosumer

Consumers who are working from home are opting-in for more powerful tech products.

 

Trend: Prior to the COVID-19 pandemic, specialised tech appealed to prosumers and professionals in the tech sector. Now, these products are becoming more accessible to everyday consumers who find themselves working from home for extended periods of time.

Insight: As many consumers continue to work from home due to the ongoing health pandemic, they are looking for ways to enhance their experience. This is connected to a desire to be comfortable in one’s productivity, while also minimising the risk of common issues pertaining to connectivity and presentation. Succeeding in this allows consumers to feel more confident in their day-to-day and to stay motivated during a difficult time.

 

Takeaway: How can your property brand assist consumers working from home?

 

2. Boomer Tech

Apps that are typically used by younger demographics see a boost among seniors.

 

Trend: With COVID-19 being risky for senior citizens in particular, stay-at-home orders are especially important to keep this demographic safe. Thus, they’re having to adapt just as much as everyone else when it comes to staying healthy and connected with others. As a result, brands that offer online services like virtual exercise and conferencing are seeing a boost in senior engagement.

Insight: In many ways, senior citizens have been hit harder than other demographics when it comes to the COVID-19 pandemic. On top of being more likely to face serious consequences as a result of contracting the virus, they’ve also been more psychologically harmed by the isolation that’s been imposed on people around the world, particularly those who live in care homes. Thus, those who have the capacity to engage in the platforms that are keeping people entertained and connected are going to be a priority for this older generation as well.

 

Takeaway: How is your property business engaging Baby Boomers, and what more can you do?

 

3. Next Gen Care

Oral hygiene brands are appealing to Gen Z via design and marketing.

 

Trend: Emerging oral hygiene brands are working harder to appeal to Gen Z demographics, with marketing and branding that features youthful aesthetics similar to those of the skincare and beauty space.

Insight: Gen Z has now emerged as the next generation to take charge of pop culture and design trends, and this generation has more diverse preferences and needs that need to be met before they’re loyal to a brand. Everything from inclusion to social media influences this generation’s purchase decisions, and brands are having to adapt to this shift.

 

Takeaway: How is your brand working to appeal to Gen Z?

 

4. Comfort Commercial

Ad campaigns take on more positive and soothing themes.

 

Trend: As the world gradually lifts pandemic-related restrictions, brands are increasingly prioritising “wellness” to help ease people’s lingering anxieties. This includes ad campaigns that focus on comforting and relaxing themes that offer a more positive outlook on the future than what has been seen in the last year.

Insight: Consumer stress has been at an all time high in recent months, with everything from social restrictions to financial upheavals having an impact. As people slowly grow accustomed to life going back to “normal,” they seek out brands that help that process along – whether it’s emotionally, financially, or recreationally.

 

Takeaway: Property brands generally do this well. What post pandemic priorities are you focusing on?
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