Have You Asked: What's Our Home Buyer Experience Gap?

Just a couple of Solution Blogs ago, we talked about the how the concept of customer service has transitioned into customer experience -- you can read it here.

Let's focus this Blog on your buyer -- after the time of purchase.

Information Reduces the Gap!

What is a Buyer Experience Gap?

Ask yourself:

• What would you consider to be a great buyer experience after the Purchase Agreement is signed?
• What is the actual buyer experience today in your organization?
• The difference is your buyer experience gap!
  

Is Communication Part of Your Gap?

Did you see our Solutions Blog: Homebuilder #1 Referral Driver: Keeping Buyers Informed? You can read it here.

That Blog is one of our most frequently read! It starts with Eliant CEO Bob Mirman's statement in Builder and Developer: the single largest referral driver for homebuilders is how well the builder keeps buyers informed regarding the status of construction.

Lack of Information Creates Buyer Stress

Mirman asks us to think of the homebuying process as similar to a hospital stay.  No question: both are stressful! 

Yet, the stress can be mitigated by information. 

No one, in other words, feels comfortable in the dark. Mirman notes the #1 reason for buyers' Willingess to Refer a Friend is the builder's ability to keep the buyer informed of their status.

Communication Doesn't Need to be Complicated

Mirman points out, You don't need conversation -- just communication.

That's How Technology Can Decrease that Experience Gap

We'd like to suggest technology will provide the tools necessary to improve your communications -- and reduce the gap! CPS' web Portals take information already developed by FieldCollaborate's construction users and WarrantyWatcher's customer service teams and make it available to buyers and homeowners via the Internet.

No additional work required: the construction schedule can be set as viewable for your buyers. Warranty requests, status updates and appointments are available via mobile or desktop. In both cases, 24/7, anywhere/anytime.

Want to up your game, decrease the gap even further? Go the extra step and take stage-of-construction photos and attach them to your construction milestones. Your buyer knows what's happening, fewer trips to the job site, fewer calls --- and your internal team can view them, as well.

How about adding post-repair photos so your homeowner knows how things look before getting home from work? After all, you buyers have Portal access 24/7 so they're up-to-speed as the work is completed.

Referrals are the Result of a Great Buyer Experience

Referrals can be your least expensive source of traffic -- and the most rewarding. Enhanced communications is a win-win as your team communicates results internally and they're viewable by your most important audience: the buyer.

Builders: Do You Share These Pain Points?

Interesting recent BuilderOnline article by John McManus noting that the benefits of the current recovery in homebuilding appear slanted towards the very large, production homebuilders.

CPS FieldCollaborate:
Cycle-time Improvements Start Quickly

Market Gains Aren't Equal Across the Builder Landscape

Today, smaller builders, says McManus, are working harder and have a bunch of "math basics" working against them.  Larger builders are able to optimize finance structures as well as relationships with land sellers, vendors and distribution networks.

In many cases, the result, for smaller builders, is a profit squeeze. Labor and material costs are increasing and builders report usable lots aren't as available and are more expensive.

Technology Investment as a Tool

Are these some of your pain points? There's a few more: McManus goes on to say that many of the "smaller builder positives" such as local land knowledge, long-standing vendor relationships and local homeowner referrals don't hold as much sway as previously.  And, there is the Millennial home buyer with all sorts of different objectives, priorities and shopping patterns.

Add to that, larger builders have invested in sales, marketing and operations-focused technology -- and the results are making for a much more competitive marketplace.

Interactive Technology lets you eliminate static displays

Dial-up Your Motivation to Locate Solutions

One solution, McManus suggests, is locating capital partners to achieve better margins. That's certainly an option for some.

Another is reviewing and evaluating current operations. Are you still operating with pen/pencil on the operations side? There are relatively inexpensive, easy-to-use construction management software products such as CPS' 2018 Constructech award-winning, cloud-based FieldCollaborate that can be implemented quickly and start paying off in decreased cycle times and increased communications with vendors and buyers. Buyer referrals still resonate -- grab them as a result of technology use! Available anywhere/anytime for field managers, vendors, home buyers, corporate users.

Take the opportunity to examine how well you are telling your home shopper's story, as well. Step away from tired, static displays and utilize an interactive presentation -- consider an iPad or Surface tablet  if a larger display isn't feasible.

Upgraded marketing tools create an environment appealing to the ever-growing Millennial buyer and responding to their need for new ideas, designs and uses -- and, interactive technology is the way they're used to purchasing.  Adding interactive technology doesn't need to be an incremental increase in cost -- you're able to eliminate the wall-mounted floorplans and pre-printed brochures with products such as CPS' SalesTouch.