The customer & the long game
By Peter Micalos
The greatest businesses in the world control the customer interface.
Customer interaction, knowledge and data can not be left to third parties anymore otherwise businesses will lose competitive advantage.
The property industry is a traditional industry that has not embraced the customer in the past and left it to 3rd party real estate agents to manage. This is now changing.
Over the years the property development industry has hidden from the customer. But it can't hide anymore.
With topical media coverage around building defects, increasing regulation and developers not doing the right thing, the onus on the customer has never been greater.
Progressive property businesses need to invest in capability and infrastructure to effectively manage their customers. This is not easy and there are different ways of going about this. It can be expensive and time consuming.
Ultimately, the customer relationship and how customers feel about the business who sold them their most expensive purchase in their lives will end up being front and center.
Progressive businesses need to play the long game with the customer -
- Build a relationship
- Build trust and respect
- Deliver on promises
- Maintain a relationship
- Listen to data
- Meet the friends
- And sell again to all
- And repeat
Success in doing the above will be the best form of marketing one can ever do.
It will increase return on investment, boost sales, attract quality employees and deliver competitive advantage.
Remember though - executing the above is a long journey and is not easy. It requires a lot of hard work, expertise and technical execution.