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Five Rewards of a Successful Omnichannel Strategy for Estate Agents

Discover why it might be time for your agency to incorporate an omnichannel strategy into your workflows if you've not done so already.

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As an estate agent, whilst your modus operandi is slightly different to that of H&M, Matalan and the like, you can still make use of omnichannel marketing strategies to enhance the customer experience for your customers.

Introduction

In most industries, especially retail, a great omnichannel marketing strategy is one that provides your customers with a fully integrated and consistent shopping experience whether they’re shopping online or in-store.

As an estate agent, whilst your modus operandi is slightly different to that of H&M, Matalan and the like, you can still make use of omnichannel marketing strategies to enhance the customer experience for your customers.

In the following post you’ll learn five of the most rewarding benefits of a successful omnichannel marketing strategy that are applicable to estate agents such as yourself.

1. Improved Customer Retention

Regardless of whether your agency is the biggest in your area or the smallest, the main concern of the general public is convenience.

Agencies that go above and beyond to be conveniently located in a central part of a town, while also maintaining a well-run and efficient web presence, are more likely to retain customers compared to an agent that has no online presence and is located in an inconvenient location.

As such, this effectively means that the public want and actively reward agencies that offer the best omnichannel experience that fits into their lifestyle. According to a study by Mgage, businesses that successfully employ a consistent cross-channel marketing strategy enjoy a 13% annual improvement in customer retention rates.

2. Greater Customer Satisfaction

As touched on above, customers are more likely to be happy and give a good account of your agency when you satisfy their needs, and operate in a manner that is convenient for them.

With online agencies proving increasingly popular amongst newer homeseekers, and house prices reaching record new levels, an agency looking to get a lucrative slice of the commission-based pie will do well to remember the old adage that the customer is king.

What this means is that an agency can no longer dictate to its potential customers to come into a branch at a time that suits the agent. Instead, if an agency wishes to get new instructions and improve existing customer satisfaction, they must bend and tailor their availability and services to match the needs of their customers.

One sure-fire way to appease modern customers is to offer a comprehensive omnichannel experience that allows your potential customer to see all that your agency has to offer, wherever they are.

While the modern property seeker is increasingly demanding, satisfying their needs can still result in a retained and happy customer that is likely to return to your agency in the future. It’s important to remember that no matter how much money your agency invests into marketing and advertising, there is nothing quite like word of mouth.

A 2012 study by the American data and market measurement firm, Nielsen revealed that sout of more than 28,000 people surveyed across 56 countries, 92% of respondents stated that recommendations from friends and family carried more sway than all forms of advertising.

3. Increased Turnover

A truly successful omnichannel marketing strategy should also work in tandem with customer database marketing, to highlight which previous customers are more likely to increase your sales.

While it would be ill-advised to ignore a new client who could potentially give your agency a significant boost in turnover, re-targeting existing clients both online and offline is a great way to continue to drive revenue to your agency.

4. Enhanced Efficiency

Offering customers a comprehensive portfolio that is accessible both online and offline is a tried and tested way to garner attention to your agency and increase the efficiency of your sales team and the business as a whole.

Imagine yourself for a moment as a lead at the beginning of your property journey. While you may have a rough idea of where you want to live and what you’re looking for, you may require a bit of guidance to get you to the next step. As such, if you’re new to the area and wish to stop by an agency to speak with them to learn more about the properties they have available, being bluntly told to ‘look online’ is not going to result in a positive outcome, and will often end up in you choosing another agency.

An effective omnichannel marketing strategy accounts for both ‘walk-in’ first timers and online browsers alike. Boeing able to cater to both types of customer is a sure-fire way to enhance the efficiency and reputation of your agency, which as mentioned earlier, can lead to repeat business in the future.

5. Better Usage of Customer Data

As mentioned in point 3, a good omnichannel marketing strategy incorporates the use of a customer database, and when it comes to collecting and harnessing the power of sales data, there is no better place to start than your sales database.

As an agency, with a properly maintained sales database you can monitor your customers across all the channels that they use, allowing you to better understand where they make their enquiries from and what types of properties or services they’re interested in.

Monitoring your customers has several benefits, but the most important is that it allows you to create customised notifications, emails and other forms of marketing communications with each customer.

What should you do next?

Apart from the obvious step of finding some time to start incorporating omnichannel into your agency if you've not done so already, why not speak to one of our consultants who can give you more guidance and information on how you can get started with omnichannel - as well as a whole host of other useful advice, guidance and tips for taking your agency to the next level.

Request a callback now by completing the short form and one of our specialists will give you a call as soon as possible (usually within 24 hours).

WANT MORE SPECIALIST MARKETING ADVICE AND INSPIRATION FOR YOUR AGENCY?

Request a callback from one of our consultants now.