PropTech Group MRI

Understanding Today's Customer

Written by Rebecca Gillis
27 June, 2022
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Today's customer is more intelligent, informed, and online than ever before. They want great products, but they also demand integrity, excellent customer service and a great user experience that is personal to them. They are more discerning, are ethically conscious and have strong ethical values.

But to understand today's sophisticated consumer, we have to realise that each demographic has unique expectations and needs that make up their consumer persona. So how can the real estate industry evolve to meet the individual needs of its clients?

Let's take a deep dive into understanding the new, revolutionised consumer.

They want digital sophistication

In a post-pandemic world, the customer is more digitally savvy than ever. They demand not just an excellent online experience like an easy to use website but features like virtual viewings, the ability to save and organise properties they are interested in, and other automation that will give them the information they need at lightning speed. Digital transformation has accelerated in the last few years, and your technology, particularly your Customer Relationship Management (CRM) system, meets the needs of today's users.

They do their research

In today's digital world, customers are influenced by social proof - they read online reviews, ask for recommendations on social media channels, and talk to friends, family, and colleagues. They're comparing products and prices and then making purchasing decisions based on what past clients say about your business. Word of mouth marketing is still an essential component of buying and selling homes. It's one of the best ways to get your name out there, generate leads, and increase sales.

They want personalisation

Today's customer wants you to remember them - they want to be heard and treated with respect, they want to feel like an individual and not just a number, and they want their experience with your business to be so good that they want to share it with others.

They want a good user experience

User experience is so important because it impacts how consumers view your agency. Today's picky customers will not hesitate to break up with a brand if they aren't receiving exceptional customer service. The real estate industry has always been about building relationships with clients, but today's consumer wants more than just good service. They want their whole experience to be smooth and seamless. The changing times have forced businesses to first focus on the customer's experience.

They value integrity and transparency

Real estate agents who provide clear communication and honest advice will be rewarded with increased loyalty from clients. Credibility is a deal breaker, and consumers aren't afraid to shun businesses that don't show credibility and authenticity. You should pay particular attention to your brand story - the narrative that expresses what motivates you to deliver results for your consumer.

They want you to listen

Customer feedback is the lifeblood of any business, and you should listen when your customers have something important to say. It's the backbone of your agency's ability to understand what your customers want and need. But not only that, your customers will feel part of your community and your brand, fostering that sense of loyalty.

Social media plays a vital role in customer service and is increasingly the channel users will take to express their opinions about your business, so make sure you tap into consumers' conversations about you - good and bad.

To meet the needs of today's consumers, you must evolve and meet the consumer where they are. You must be agile and adaptable, have a culture of constant learning and improvement, and get to know your customer.

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Rebecca Gillis

Rebecca works in the Digital Marketing field after graduating from James Cook University with a Bachelor of Business, majoring in both Marketing & Events Management. She has recently moved to the Gold Coast and enjoys getting outdoors to make the most of the great weather.

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