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Experience ManagementHow Online Reviews Can Make or Break Your Company
Laura Monroe, Director of Marketing, RealSatisfied
@LauraMonroe
88% Of Consumers Trust Online Reviews As Much As Personal
RecommendationsConsumers read an average of 10 reviews before making a decision
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
The real estate industry has only just BEGUN to incorporate online ratings
& reviews
But they don’t own the customer experience – you do
The Road to CX Excellence Is Paved with Customer Insights80% of companies say they’re customer centric,
yet only 8% of customers agree.
Managing Your and Your Agent’s On-line Reputation Means Managing Your Customer’s Experience
Not Just Reviews
While the vast majority of people read reviews
online, only a very small minority write them.
Bad reviews will usually come Where and When you least
expect it
Customers Want to be Valued and HeardHow many of your customers do
you think would agree that you are customer centric? Do you
know for sure?
From the moment a customer walks in the door or picks up the phone, you can have very
specific protocols aligned with your visions around how that customer will be treated.
Facebook is the leading resource for posi-tive reviews
“Absence of feedback is not a sign of satisfaction”
Customer Experience Leadership Can & should be a part of your culture
“I think its very important to have a feedback loop, where you are con-stantly thinking about what you've done, and how you could be doing it better.”Elon Musk, TESLA
The testimonial
Customer feedback
Minimize negative reviews by adding a layer to the review process – one that
you control.Craft a valuable customer survey
All closed transactions should be surveyed
Provide agents with the proper training and tools• Equip agents to inform clients during listing presentations or interviews
• Provide email templates that they can personalize to help them do this
Clarity of Data Leads to Effec-tive Action
• 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?
Collect Feedback from First Time Cus-tomers
• Say thank you• Give a perk – gift card, coffee, etc.• When collecting testimonials by email
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
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
Competition Drives Improvement• Create benchmarks of excellence (recruiting)• Reward & celebrate agents on performance (reten-
tion)• Broker involvement on social media to amplify
great reviews
“Whilst many of us see the future of our industry in technology leadership, if we
don't do the basics right we will not earn the right to a future. Asking our cus-
tomers for feedback, is not a revolutionary concept. The challenge for everyone is hav-
ing the courage to listen and change.”Grant Herrod, CEO LJ Hooker, Australia
© 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!