Builders: Turn Warranty Data into Actionable Insights

Thinking About Turning Data into a Critical Asset

Data is in abundance and needs to be made sense of in order to realize its full benefits.

Aaron Tan | Executive Editor, APAC

Today, the value of data is well known as effective use can help businesses speed-up decision making and improve the customer experience.

Data...it's out there! Then, what?

But.. some might ask: How do I get useful data? and others might say, There's so much data! How can you maximize both data collection and use so there's a positive business value proposition? 

Taking a Discrete Look at Builder Warranty/Customer Service Data

Many builders provide their homeowners with warranty service after the home closes. Typically, this is a one-year period -- although two-years isn't unknown. During that time, builders manage homeowner requests for repair or replacement. There may also have been a builder/buyer walkthrough collecting issues for resolution prior to closing.

As a result, even the smallest builder has data! There are homeowner requests ranging from leaky faucets to squeaky floors to improperly installed appliances.

Yet, do you know how many faucet leaks your homes had over the last 6 months in the Happy Acres community? How about over the last 3 years? And, how many were due to poor workmanship vs. bad materials vs. design issues? 

Do you know how many leaky faucets happened this month?

If you knew these answers, what would you  do to address them going forward?

And, wouldn't your operations be more efficient and profitable, as a result?

Warranty Management Software Provides Analysis Tools

Warranty management software provides a very effective tool for a builder's operations because there's a large amount of data that evolves as a result of homeowner requests and repairs -- and software provides the tools to take large amounts of data and slice & dice & display for effective use.  There really isn't any additional work required to obtain the information; it's a question of how to make use of it! 

Take the leaky faucet issue above. That issue will be recorded as a homeowner request. Software provides the ability to easily review how many leaks occurred -- over a period of time, community-by-community.

The value proposition is significantly enhanced by adding a second step: why did this leak happen? Poor installation, bad faucets, bumped while doors were installed?

Over time, you'll have the data to know the most common issues as submitted by your homeowners. You'll know facts -- not squeaky wheel problems or the "big" ones! You'll also know why the problems happened.

If you're using an integrated software suite, you'll also know the vendor providing the work so you can address these workmanship or material quality issues. 

Take a look at the tablet above; your team could see what problem categories were most prevalent over the last 30 days (turns out drywall was highest, here); you' be able to drill down for the "why" and vendor, as well.

Warranty Software Breaks Down Data Silos

Effective use of warranty software provides a great resource for a builder to be able to examine their operations as well as providing a good opportunity for enhanced customer service. Interested in finding out how you can turn all those requests & repairs into actionable insights? CPS will be exhibiting at IBS2020 -- or you can request a personal WarrantyWatcher software demo here!

Builders: Electronic Signature Key to Improving Efficiency & Satisfaction

Builder Hot Topics: Efficiency, Productivity, Buyer Experience

The Solutions Blog has devoted quite a bit of virtual space focused on improving efficiency and productivity -- particularly on the operations side of homebuilding. Take a look at recent Blog articles:

• Builders: Increasing Productivity Helps Offset Labor Costs & Availability
• What Can Builders Do to Up Their Productivity?

Efficiency, Productivity to Buyer Experience

We've also been talking about the Home Buyer Experience -- before, during and after the new home purchase:

• Customer Service: A New Paradigm for Builders
• Have You Asked: What is Our Buyer Experience Gap?
• Builders: Consider Value-Unique Experiences

CRM Offers Experience and Efficiency Opportunity, too!

One key concept emerges from all the articles highlighted above: the builder's universe is expanding! There aren't any islands left, in other words! Thinking about buyer experience is no longer limited to the sales office or marketing. It encompasses operations -- from construction to warranty, too. 

Efficiency can be thought of similarly: how long does it take your sales agents to process a sale? Do you have 25-40 documents ranging from Purchase Agreement to Options Orders to Avigation (yes; that's a real word!!) Disclosures?

Document Processing is More than Creation; Consider These Stats

How long does it take for your agent to generate these documents -- and how many signatures are required? Do you realize that 37% of documents are missing a necessary signature, initials or dates?

And, many people don't always consider the post-signature activities required to support documents: that's the proper collection, filing and retention. 51% of businesses report that some or all of the documents needed are mis-filed or lost!

Efficiency, Productivity Moves Beyond Operations!

In other words, are you certain that Lot 55's purchase agreement package is completely processed, stored properly and accessible?

Electronic Signature Can Go Beyond Purchase Agreements!

You're probably familiar with electronic document signature processing as it relates to purchase agreements (CPS CRM, for example, provides seamless integration with DocuSign to obtain signatures for all documents, distribute the documents amongst all necessary entities in a specified order and save a completely executed set). And, the value is not only for the builder: buyers appreciate the ease and ability to obtain and store a full set of accessible, executed documents. That doesn't even take into consideration processing a sale with buyers in multiple locations!

And, have you considered the value of electronic signature for your warranty/customer service operations? Why not provide your customer service rep or vendors with the ability to accept electronic signature on work orders via phone or tablet? CPS WarrantyWatcher does exactly that -- and keeps a copy in the lot's permanent history file, as well!

There's now another touchpoint (or two!!) for improving efficiency, productivity and the buyer experience!

Builders: Smaller in size? Add Focus to Actionable Customer Service

Smaller Means You Can Be More Nimble

Recently, there's a great Frank Anton article in Builderonline: Three Ways Small Home Builders Can Be Big Winners --  it's worth reviewing; you can read it here.

Anton notes he's "big" on stats & trends -- and in the 45 years he's been around the the housing business, he's usually been on the right side of predictions.  One he missed: how large the "majors" would become.

But, he says, smaller builders and those in smaller markets are in a great position. They're not occupying the same "space" as the NYSE builders.

Smaller Allows You to Focus on Personalized Customer Service

Anton suggests smaller builders have an opportunity but.. they need to focus on key metrics and one of the most critical is customer service. And, to be honest, it is one of the most controllable!

He goes a step further and suggests thinking of the process as concierge service!

SST is a Preference for Many

SST (that's Self Service Technology) provides smaller builders with a manageable way to connect with home shoppers and buyers -- and the price tag is reasonable!

Self-service hasn't always had the best of reputations. However,  attitudes, preferences and expectations change quickly. One reason is changing demographics; another is technology.

Self-service is one of those quickly evolving expectations.  Today, self-service is not only a solution but a preference for many -- regardless of age. 

Use SST as Your Concierge

What? How can SST (that's self service, isn't it??) provide concierge-level service to home shoppers and buyers? 

Your customers want fast and concise information. Communication doesn't have to mean conversation! They're also interested in information that's tailored to their specific situation: that's personalization! It adds up to a level of customer service that's actionable and personable.

Take advantage of technology to facilitate delivery of the types of information that will make your customers feel your attention!

SST Delivers Information Quickly, Concisely and When Requested

What sorts of personalized information can technology provide in this concierge service idea? Here are a couple to consider:

• Online, real-time sitemaps - Let your home shoppers know the details as to what's available; over 90% are going online so why not provide key info from the get go?
• Construction status updates - How about using your construction software's Portal to deliver weekly "stage of construction" photos?
• Stage of the sale updates - Use your CRM system to deliver automated emails letting your buyers know where they are in your 10-point buying cycle
• Focused Warranty reminders - Setup a schedule using your warranty software for automated email reminders: Fall gutter cleaning, Holiday light tips, Spring lawn advice, Summer air conditioning advice are just a few examples. You might be sending them to multiple individuals but they're offering specific, actionable information that your homebuyers can put to use.

Remember: Referrals are the Most Cost-Effective Source of Traffic

Happy home shoppers and buyers will have you "top of mind" when talking about their home shopping experience!

Interested in finding out more about technology options facilitating this type of concierge service? CPS can help you; contact us to schedule a one-on-one demo and what your customer satisfaction and  referral rate grow!

Home Builders: Delivering the Warranty Service Your Buyers Expect!

Home Buyers Want Convenient & Quick Warranty Service

Today, in the age of Amazon and 2-hour shipping, consumers have sky-high expectations regarding customer service.  And, that's regardless of industry says a recent Radial article.  Customer service is now a key differentiator at time of purchase as well as for after-sale referrals. 

Home Buyers Look For Personalized Customer Service

Home buyers aren't any different than other consumers when thinking about their post-closing warranty service.  Gone are the days of handwritten forms, snail mail and slow turnaround.

Your buyers want convenience and quick problem resolution -- in addition to an environment that is proactive with personalized service.

Self-Service Functionality Is Today's Customer Service Hit!

Self-service is reported as one of the hottest trends in customer care. Consumers love the idea of being able to quickly and easily meet their objectives -- from submitting a warranty request to checking status to being able to review the history of a service item.

Technology Enables Builders To Meet Buyer Expectations

Technology innovations and advancements enable builders to meet these home buyer expectations.  Take a  look at CPS' WarrantyWatcher software -- particularly the Portal -- as an example.  Watch the video here: https://vimeo.com/296088297.

Homeowners are able to access the Portal via the builder's website -- 24/7, anywhere/anytime, to submit requests.  No more waiting until Monday morning or someone is off the phone or ….! And, homeowners are able to check request status at any time -- no more calling for info, back and forth voicemail, or missed calls.

The same self-service Portal is available for subcontractors.  Although formal work orders can still be sent via email, it's always possible to log-in to the Portal, download work orders, check associated drawings/photos and confirm availability. 

Self-service channels consistently outperform other channels in terms of consumer satisfaction. Your homeowners love self-service because it reduces friction and provides immediate and consistent answers.

Put Omnichannel in Place!

A builder website-based Portal provides for a personalized, omnichannel experience. That is, the Portal can fit into your business operations seamlessly.  Make it available from your website main page, skin it with your logo and colors, personalize it with team member photos.  It's all about winning and sustaining loyalty!

When Service Exceeds Expectations, Referrals Jump!

Remember: the #1 reason for homeowner referrals is keeping buyers informed during construction and post-closing!

Builders: Put Tech-based Self Service to Work for You!

Transitioning to Self-Service Takes Getting Used to But.. Benefits Emerge

Great article discussing the transition to a self-service model in Kiosk Marketplace. It's fairly common for organizations to be reluctant to change and adopting self-service is no different. Not everyone knows what's expected and there may be a few lumps in the road but..once the first step is taken, benefits start to emerge and self-service quickly becomes the new norm. 

WarrantyWatcher: Self-service at your fingertips!

Where are Self-Service Opportunities for Builders?

A recent Radial article notes self-service is one of the hottest trends in customer service.

Isn't homebuilding one industry known for the value of the one-on-one interaction? There's still a place for that type of interaction -- most particularly in the sales process. But.. there's a significant opportunity to transition to more of a self-service model in a builder's warranty/customer service organization.

And, that's because recent innovations in technology provide web-based, 24/7 access for homeowners, vendors and builders to data -- anywhere/anytime!

Consumers Want Interaction, Now!

An earlier Solutions Blog noted consumers love the idea of being able to quickly and easily meet their objectives from submitting a warranty request to checking status to being able to review their warranty history.

CPS' WarrantyWatcher software, with 24/7 web-based access for homeowners and vendors, offers an anywhere/anytime process to submit homeowner requests (including photos!), review open items, track status, close work orders and analyze trends.

And, it's efficient; no double entry, calling back and forth, voicemail or misplaced emails. Everything is in one, easily accessible, location.

Consumer Satisfaction Rates Self-Service Channels #1

Self-service channels consistently outperform other channels in terms of customer satisfaction. Thnk about it for a minute: does anyone snail mail or fax over a list of issues any longer? How recently have you called-in a service issue? Consumers love self-service because it reduces friction and provides answers immediately and consistently.

Self-service doesn't have to be (and, shouldn't be) some generic, one-size fits all process.

WarrantyWatcher's 24/7 Portal provides a personalized, omnichannel experience. In other words, the Portal fits into your business operations, seamlessly. Make it available from your website, skin it with your logo and colors, include photos of your team members. It's all about providing an appealing, easy-to-use solution that fits your homeowners needs!

Home Buyers Want Convenient & Quick Warranty Service

A recent Radial article notes, in the age of Amazon, consumers have sky-high expectations. And that's regardless of industry -- customer service is a key differentiator at time of purchase as well as after-sale referrals.

Enhance Your Customer Service Ops with Self-Service!

Home Buyers Look for Personalized Customer Service

Homebuyers aren't any different than other consumers when thinking about their post-closing warranty service.  

Consumers want convenience and quick issue resolution -- in addition to an environment that is proactive with personalized service.

Self-Service Functionality is Hot!

Self-service is reported as one of the hottest trends in customer care. Consumers love the idea of being able to quickly and easily meet their objectives from submitting a warranty request to checking status to being able to review their warranty history.

Technology Helps Builders Meet Buyer Expectations

Innovations and advancements in technology enable builders to meet these expectations. Take a look at CPS' WarrantyWatcher software  -- particularly the Portal -- as an example. Homeowners are able to log-in, 24/7, to submit requests. No more waiting until Monday morning! And, they're able to check status at any time - no more calling, voicemail or missed calls.

The same Portal self-service is available for subcontractors. Although formal work orders are sent via email, it's always possible to log-in to the Portal, pick-up work orders, review associated drawings and photos and confirm availability.

Self-service channels consistently outperform other channels in terms of consumer satisfaction. Consider this, for a minute: does anyone snail mail or fax over anything, anywhere any longer?  How about calling?  Consumers love self-service because it reduces friction and provides answers immediately and consistently.

Go Omnichannel!

And, the Portal provides for a personalized, omnichannel experience, as well.  In other words, the Portal can fit into your business operations, seamlessly. Make it available from your website, skin it with your logo and colors, include photos of your team members.  It's all about winning and sustaining loyalty.

Referrals Are Yours When Service Exceeds Expectations!

Remember: the #1 referral reason for homeowner referrals is keeping buyers informed during construction and post-closing.

Builders: Get Proactive, Increase Referrals with Mobile Customer Experience Moments!

Let's take an earlier Solutions Blog: How to Improve Your "Refer a Friend" Rate (read it here) with Eliant's Bob Mirman thoughts regarding the referral impact associated with keeping customers informed - and add Full Story's Scott Voight's thoughts, "You can win on customer experience" and "Excellent customer service can largely be distilled in two words, speed and convenience."  

Have you adopted  "proactive customer service" -- that is, not waiting for an event to offer specific, customer-focused attention.

Get Mobile and Create Proactive Customer Service moments!

A recent Innovative Retail Technologies article sparked a new thought: the value of mobile relative to proactive. 

There's a "First Dibs Opportunity" study suggesting 46% of mobile usage sessions start with no real aim! Author Christine Kern also mentions 70% of respondents use their mobile devices to "kill time." 

The study concludes "if smart phones were smart, they'd do a better job of giving us something useful!"

Software can help builders turn mobile time into proactive customer service moments! Your homebuyers can grab a minute or two, while waiting in line at the store, to check out stage of construction photos. And, can't you see your buyer getting excited to see a just-installed countertop and turning to the next shopper and saying, "Check this out! My new home's kitchen was just finished!"

That's a refer a friend moment! Or, how about the impact of a homeowner browsing their warranty service requests while getting a hair cut and seeing a completed request with a photo?  Wouldn't that be a "Wow! My builder is on top of things!" moment?

CPS' FieldCollaborate and WarrantyWatcher Portals can help you easily create these proactive customer service events -- and do it quickly and conveniently. Customer experience will improve and your referral rate will jump!

CPS will be exhibiting at #IBSOrlando next week -- drop by for a demo at Booth W5583.  Or, contact us at info@cpsusa.com and we'll schedule a demo for you!

Warranty Management: Developing a Strategic Advantage

Today, it seems that everyone is talking about improving the quality of customer engagement.

Use Warranty as a Customer Engagement Touchpoint!

There are many possible engagement touch points: have you considered your warranty operation as an opportunity to enhance your relationship?.

Back in the day, warranty was introduced as a tool to attract customers. Companies wanted to show buyers that they were willing to guarantee their products.  Soon, the idea caught on and everyone was providing a warranty on their products and.. home builders were no different.

Home builders found, as did others, that managing warranty was a task in and of itself.

Claims management, vendor logistics,... before they knew it, warranty seemed to be a monster that had a life of its own.

Today, however, warranty management, if properly conceived and administered, offers an opportunity to increase your strategic advantage.  It can improve customer engagement and, through today's social media outlets, provide a direct customer voice.  What home shopper wouldn't be encouraged to see a Facebook post highlighting a successful warranty claim?

Successful warranty operations can become both a strategic advantage and a referral source!

How?  An article by Aditya Baliga in Industry Week, suggests a key element is to develop a holistic and streamlined warranty process.  Some key elements:

1. Warranty Analytics -- Do you know your Top 10 issues? How about their reasons?
2. Claims Processing -- Have you done everything to improve the process and minimize costs?
3. Automation -- Go Mobile! and let your homeowners submit requests directly, as an example.

CPS has been helping home builders improve their customer relationships for -- over 30 years.  WarrantyWatcher can provide the analytics you need as well as expedite both claims processing and vendor notification using automation.  Give us a shout out!

Home Builders: Millennials Like to Use Mobile for Customer Service

A recent Retail Customer Experience article by Tom Goodmanson suggests successful brands are always evaluating plans for creating improved customer experiences and building customer loyalty. Today, many find home building to be more retail-oriented than ever.

WarrantyWatcher
Home Buyer Portal Goes Mobile!

What better time to evaluate and solidify customer strategies than the start of 2017? Goodmanson makes several 2017 predictions including: mobile customer service will close the gap between consumer expectations and reality.

Combine those thoughts regarding customer service (Go Mobile!!) with the anticipated tsunami of entry level buyers, highly driven by millennials who are already mobile-oriented, and it suggests that adding mobile to the new home experience makes sense for 2017.

Today's home buyer has high expectations regarding their home and the post-sale warranty process in terms of timeliness, quality and reliability.  Make sure your warranty/customer service organization is capable of responding to those requirements -- as well as the goals of improved customer experiences through mobile access.

Let your home owners submit warranty requests using CPS' WarrantyWatcher software from your website -- and provide the same access to review request status and overall problem resolution history. The Home Buyer Portal is available across platforms and browsers -- from desktop to devices.

We'll be in Orlando January 9-11 for IBS 2017; drop by Booth W5583 and let us show you how WarrantyWatcher can improve your customer's experiences!

Your Home Shoppers Want to Hear from You!

Interesting article recently in Realtor suggesting agents might want to reassess their follow-up efforts with home shoppers.  Keeping in contact not only puts you "top of mind" with active home shoppers but can also be a referral source, as well.

The key thought is many home shoppers don't have a "specific" interest in mind when they first start looking at homes and staying in touch is possibly the most underrated and underused sales process in the industry.

Software facilitates staying int ouch!

Of course, all of us have many, often competing priorities for our time.  Yet, 36% of home owners say they find it beneficial to receive communications -- even if they aren't in the market for a home, today.

Topics of interest range from what's for sale to home maintenance pointers.  Why not have a set of pre-established emails that go out on a periodic basis to everyone in your prospect file?

CRM systems are designed to facilitate this process -- from registering your prospects to creating a set of followup emails to actually sending them on a scheduled basis.  Once you have the followup details down, your home shoppers will receive tips and pointers from you on a regular basis -- without any additional work needed.

And, why not apply the same process to your home buyers?  Here's a group of people living in a new neighborhood, using different appliances and concerned about their new home.  Remind your homeowners that you're available for warranty questions --  and encourage the "warm and fuzzy" by sending out an email with the closest restaurants (coupons might be a possibility, too) -- or a trail guide to local recreation hot spots. There's always room for info regarding the new appliances, HVAC systems and electronics, too!  After sale communications are another key referral source!

Not quite sure how to get started with this process?  Contact us to discuss CPS•CRM and WarrantyWatcher customer service software -- easy-to-use and cost effective ways to communicate with prospects and buyers!