Retooling Bootcamp 2018: How Reviews are Disrupting Homebuilding
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This presentation was given at the Retooling the US Housing Industry Executive Bootcamp in Scottsdale, AZ. Customer experience expert Jimmy Diffee explained the importance of a customer listening program, also called a Voice of the Customer (VoC) program, and how it can be used to proactively improve the home buying experience.
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Retooling Bootcamp 2018: How Reviews are Disrupting Homebuilding
- 1. Jimmy Diffee, CSP Co-founder The Bokka Group @bokkagroup
- 4. Disruption:
- 5. Disruption:
- 8. Buying a home today: Does the process instill trust?
- 9. Trust?
- 10. “No one will buy a home sight unseen” ● LOCATION: Crime, schools, proximity ● HOME: Quality, process, visualization Solution (other industries): ● User-generated content / REVIEWS
- 13. Source: Google/Shopper Sciences, Zero Moment of Truth Macro Study, U.S., April 2011 It shapes decisions
- 14. Source: Google/Shopper Sciences, Zero Moment of Truth Macro Study, U.S., April 2011 It shapes decisions Reviews are disrupting homebuilding. “How do I improve my reviews?” -Every Homebuilder
- 15. Stop fearing reviews. Embrace them. ● Implement a program to proactively collect customer feedback, and act on it. ● Organization-wide customer listening program: Voice of the Customer (VoC) GOAL: Trust
- 16. Source: Google/Shopper Sciences, Zero Moment of Truth Macro Study, U.S., April 2011 It shapes decisions Voice of the Customer (VoC): Describes your customer's feedback about their experiences with and expectations for your products or services.
- 17. Source: Google/Shopper Sciences, Zero Moment of Truth Macro Study, U.S., April 2011 It shapes decisions Voice of the Customer (VoC): Customer listening program
- 18. What it’s NOT: ● Customer service ● An admin’s job ● Ad-hoc surveys ● Social media (mktg) ● Product surveys ● Market research
- 19. Source: Google/Shopper Sciences, Zero Moment of Truth Macro Study, U.S., April 2011 It shapes decisions What does a VoC (customer listening) program look like?
- 20. It’s a journey. (We have a lot to undo). ● Establishing the program ● CX Committee ● Mapping the Journey ● Benchmarks & goals ● Setting up software platform Year 1 Years 2 & 3 Years 3+ ● Tracking business results ● Establishing accountability ● Adding touchpoints ● Open access to data ● Cultural change ● Most challenging phase ● Driving business results ● Automated processes ● Integrated w/other systems ● Customer Experience Dept.
- 21. Source: Google/Shopper Sciences, Zero Moment of Truth Macro Study, U.S., April 2011 It shapes decisions 5 Steps to getting started, 3 things to do now, (and 1 really good example)
- 22. ● Executive buy-in: Sponsor or Customer Exp. Committee ● Align with company vision (+ Employee experience) ● Customer Exp. Champion ○ Cross-dept authority ● Get outside help 1. Start with the right people
- 23. 2. Map your customer journey ● Put everyone in customer shoes ● ID “Moments of Truth” ● Gaps between the desired customer experience and the one actually received ● Ideate: bring joy & confidence to the experience
- 25. ● Goals ○ Increase Revenue ○ Market Share (differentiation) ○ Culture change 3. Establish Goals & Metrics
- 26. ● Metrics ○ Is it a leading indicator for financial success? ○ Does it energize (and enable) your employees to improve the experience? ○ Does the metric-related survey question make your customers feel good or valued? 3. Establish Goals & Metrics
- 28. 1. Relationship Survey: Overall experience (loyalty) e.g. Net Promoter Score (NPS) 2. Transactional Survey: Recent experience (pulse-check) e.g. Customer Effort Score (CES) 3. Employee engagement:* e.g. Employee Net Promoter Score (eNPS) 4. Right surveys, right time
- 30. Create peaks, fill pits ○ Short-term → Low hanging fruit / quick wins ○ Long-term → Plan of attack / Effort v Impact → Process for continuous improvement 5. Take action
- 31. 5 Steps for getting started: 1. Start with the right people (buy-in) 2. Map your customer journey (Know your MoT) 3. Establish Goals & Metrics (ROI) 4. Right surveys, right time (R’ship + Trans) 5. Take action (Immediately)
- 32. Sign up for alerts WAYS TO START NOW
- 33. Create accounts and respond to reviews WAYS TO START NOW
- 34. Create accounts and respond to reviews WAYS TO START NOW Celebrated / reinforced Addressed + Used for cont. improvement
- 35. Resources WAYS TO START NOW Customer experience insights: bokkagroup.com/insights
- 36. Great VoC program in action
- 38. ● Establishing the program ● CX Committee ● Mapping the Journey ● Benchmarks & goals ● Setting up software platform Year 1 Years 2 & 3 Years 3+ ● Tracking business results ● Establishing accountability ● Adding touchpoints ● Open access to data ● Cultural change ● Most challenging phase ● Driving business results ● Automated processes ● Integrated w/other systems ● Customer Experience Dept. When you’ve implemented a successful VoC program...
- 39. ● High trust ● Continuous improvement ● Positive reviews ● Proactive ● Opps to disrupt ● Low trust ● Ignorance is bliss ● Negative reviews ● Reactive ● Risk being disrupted
- 40. Thank you.
Notes de l'éditeur
- About Bokka: - We help builders increase sales and innovate for the future by monitoring and improving the home buying experience. -We practice Human Centered Design -Message today is about tapping into the unbelievable power of humanity.
- When most of you in this room think about disruption…this is what you’re likely hearing about: Within the industry: factory-builthomes /3d-printing / drones Outside industry: other companies like Netflix, airbnb, Uber, and Amazon
- When I think about disruption… I think about my 8 yo kid - Ryan, the smart one. So I’m not showing favoritism, show my other kids Alex in wheelchair, the sweet one On her lap is Elaina, she’s the cute one (but also the mean one)
- Mainly want to talk about Ryan. This is a picture from last week, when I dropped into her coding and robotics class. (which was crowdfunded) I didn’t have anything like this when I was in school. When think about disruption, I think about what things will be like when she’s old enough to buy a home. Which could be in about 10 yrs.
- Buying a house has often been compared to buying a car. 10 yrs ago - people were saying no one would by a car online. Now you can get one thru a vending machine.
- Carvana spot, about buying cars completely online, with car vending machine.
- We’re pretty old-school. And the experience revolves around the on-site sales process. Buyers show up, get the sales pitch, and walk around models like a mouse behind a trap fence. They hope they get a straight answer on how much the homes really cost. This process does very little to gain the trust of our buyers. It’s crazy that we still sell homes like this. When I try to imagine future generations of buyers...I don’t think they’re going to buy homes like this.
- When I imagine Ryan buying a home, I don’t think she’s going to buy homes like this. I think she’s going to buy homes like this: the BUY NOW button
- I hear builders say: No one will buy a home sight unseen, for these reasons.
- The reason other industries have become disruptive is because they imagined a future of self-service, based on trust generated by lots of human beings. They harnessed this incredible power.
- This is a way of looking at the experience that really helps builders understand the new digital buyer: With user-generated content prevalent, you can now experience it through others. Written reviews, photos, videos [>] This is the ZMOT, and it’s very persuasive 84% of the shoppers said that ZMOT shapes their decisions. Reviews are changing how/when buying decisions are being made.
- So we know this. And the top question I get from builders... So what can we do about it?
- The goal is: to build enough trust so that people could/would buy completely online from you.
- These are important, but builders that start with these are often missing the most critical 1st step: Buy-in.
- Map out different parts of the customer journey Do journey mapping to better understand your touchpoints with customers, & how they make the customer feel.
- The idea is to have a visual representation of what the buyer’s experiencing. With this in hand, the entire organization can: Look for ways to innovate, and add joy and confidence to the process for buyers. Identify Moments of Truth where feedback is most important
- There are so many metrics out there, it can be overwhelming. There’s no one-size fits all set of metrics to use. But use these 3 questions to guide you.
- If you want a general guide...
- Set up google or talkwalker alerts so you know what’s being said about you.
- Virtuance example
- Do these things, and you’ll be going from this (old school guy), To this: Preparing yourself for future buying generations.
- If you don’t do these things - Elena will find you