Negative reviews drive away new businessToday’s homebuyer has the internet in their pocket. Before even contacting a sales center, potential buyers search for reviews and referrals looking for proof that the builder can provide a quality home without too many hiccups.Nearly 9 of 10 customers read reviews while making a decision to purchase, and 79% of customers trust those reviews as much as personal recommendations.Still, many companies focus more on new customer acquisition than customer retention, and it’s hurting their revenue and their reputation.Reviews from existing customers carry significant weight, reaching hundreds or thousands of potential buyers. When homebuyers are satisfied with their experience, they’re highly likely to recommend their builder (95%) or build with them again in the future (98%).This makes a negative customer experience that much more impactful – several negative reviews can put a builder's reputation on the line.
CX is an investment that pays offDid you know the likelihood of selling to an existing customer is 40-50% higher than selling to a new one?Companies are leaving revenue on the table by not investing in customer experience. According to Bain & Company, companies that are dedicated to improving their CX can increase their revenue to 4–8% above their market.Great customer experience is an investment that pays off because customer loyalty drives repeat and new business. It's much easier for customers to justify a purchase from a trusted brand, and creating a delightful experience for customers is all about building that trust.
Build trust first, loyalty followsForward-thinking home builders are using technology to create more trust and transparency along the customer journey. Here’s how they’re doing it:Video communication. Sharing updates over video builds stronger relationships than over phone or email. Service teams using solutions like ICwhatUC can show up prepared by reviewing previous video interactions and resolve 60% of customer concerns remotely.Micro-surveys. Surveys allow builders to keep their finger on the pulse of their customer relationships. With surveys collected after each video session, they get new insights into what's working and what isn't, at every step of the customer journey. The data and feedback captured during ICwhatUC video sessions can easily enable data-driven CX process improvements.Continuous feedback loops. Rather than asking for feedback after the homeowner has moved in, builders should create more feedback opportunities along the customer journey. Video sessions allow builders to create a continuous and actionable feedback loop so buyer concerns don’t have a chance to fester.
Technology can help you reach your CX goalsThe world is constantly changing and so are customer expectations. Service teams need to evolve with them, which is why listening to and applying their feedback is so important.This holds especially true in an industry like home building where customers need a high level of trust in their builder to match their investment.Solutions like ICwhatUC help builders strengthen customer relationships, capture and act on feedback, and positively influence their brand sentiment.
To learn more about how ICwhatUC helped three of the top 25 home builders in North America improve their customer experience, get in touch with our team.
Give your customers what they want. A more human experience, with IrisCX.
By: IrisCX • 19 September 2022
Online reviews are impactful because they reach people with purchasing intent – a total of 93% of new customers consult reviews before purchasing a product or service. With virtual CX, your team can start receiving and leveraging better quality reviews.
Authority Magazine Interview - Tracy Posadowski Of IrisCX On 5 Ways To Create a Wow! Customer Experience
By: Tracy Posadowski • 25 April 2023
How do you create a customer experience that people love? Make it human. Authority Magazine's Fotis Georgiadis sat down with our CMO Tracy Posadowski. In this interview, Tracy discusses why we assume it's intuitive for brands to deliver great experiences and fall short, and whether or not competition forces companies to deliver a better customer experience.
By: Tracy Posadowski • 29 June 2023
Our CTO Eradj Khaidarov was interviewed by Nat Rubio-Licht, senior reporter at The Daily Upside about how AI-based innovations in customer experience are being engineered to predict service outcomes to better serve customers. In the article "JPMorgan's customer service vibe check", Eradj was consulted as a leading authority on moving from human reaction to an AI predicted outcome in customer service.