Exclusive minutes from Propteq Europe 2018 session on Marketing to the Enabled Customer.
Property Marketing: Who is an Enabled Customer?
PropTech startup Founder: The enabled customer is not just tech enabled, but also enabling the customers to make a decision by providing them with enough relevant information and maintaining a balance to allow selling and giving the customer what they desire. Therefore essentially giving the tools to help the customer.
Attendee: The enabled customer mainly relates to millennials who browse properties and want to make fast decisions. The term also refers to the use of machine learning that provides data and prediction of what the consumer would want to buy and whether they can afford it.
Attendee: There is a demand for fast information and information tailored to the customers need. Data on chatbox usage found that customers are not ready to keep checking the website for a response, but instead it is preferred that the messaging is done instantaneously through automation. This helps with Property Marketing.
PropTech startup CEO: The amount of data available to the end customer is large. We’ve developed technology that allows customers to select the best area for a property. It takes open data across 25 variables and it asks the customer what is important to them, for example, local schools, transport, or bars/restaurants. Then the software provides a heat map of ideal places to live and provides data to enable that decision. In essence it provides data to the customer to influence their decision in buying a property.
PropTech startup Founder: 30-40% of our customers are abroad and it would be difficult for them to visit the property they’d like to purchase. Also, a social element such as providing reviews would help to influence the existing/potential customer to make a decision.
PropTech startup CEO: Capturing consumer driven data for analysis is important. Our startup opens digital doors and captures data from a user perspective. It’s important to think through what data is useful to capture. You need to provide an autotrail of how you capture the data and store it.
Should we keep track of customers who complain online about the services provided?
Attendee: The student community provide services such as laundry, cleaning etc. They could also provide a space for feedback on their experience of living to help future students make a decision about staying in that particular property.
Attendee: Any negative feedback from the customer can spread/go viral, therefore the company should provide a stage that allows the customer to engage and discuss their frustrations. You could possibly put an iPad in the house that is coupled to the company and can be used to express frustrations and allow solutions to be found quickly.
Attendee: When customers feel that they are being marketed to, they switch off and move on. So marketing needs to be targeted by keeping up with the trends and finding where customers go for their information.
What would make customers walk away?
PropTech startup Founder: Changes in agency fees/charges. Avoiding charging additional fees may attract customers and improve marketing.
Attendee: Some landlords do not collect deposits and there have been problems with maintenance. Following research, many tenants agree that they would rather pay more for a better quality service from the landlord.
Attendee: Challenges do exist when the tenant wants to do the gardening and maintenance themselves, rather than a contractor, as it usually isn’t done to good standard and a higher price for rent is still charged. Additionally, once the tenant vacates, there is still the issue of finding someone to maintain the house afterwards. It can pose a health and safety risk to future tenants. In Switzerland the concierge takes care of everything and it works perfectly.
Any other services available with property?
PropTech startup CEO: Trials have been done to provide cleaning and removals. The intake is limited maybe because people are already spending enough already on rent. A loyalty programme – discounts on cinema tickets and coffee. There is 92% engagement and identifies much better with customers. Another company said that they do a similar thing, denoting the popularity of the ‘loyalty programme’.
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