Data is the new gold to tap into for any business, especially in the real estate industry, where customer preferences, market trends, and operational efficiency are crucial for success. However, many real estate firms face significant data challenges due to data silos, outdated data, data unification issues, and insufficient business intelligence. These challenges hinder the sales process, the time-to-market for new products/services, and the customer experience.
This blog post, discusses how Salesforce Data Cloud, a comprehensive data unification solution seamlessly merges data from various sources and help a real estate firm overcome these data challenges and achieve remarkable business success.
The Problem Statement
Many real estate firms suffer from the following data-related pain points:
- Outdated data leading to obsolete sales and marketing information, resulting in a confusing experience for potential buyers, hindering the effectiveness of the sales process.
- Significant data unification challenges due to disparate systems across the organization. Integrating data from various sources was a critical obstacle, hindering seamless information flow and decision-making processes.
- Challenge with prolonged time-to-market for new products/services, attributable to inefficient operational processes. This hindered the timely introduction of offerings, impeding the firm’s competitiveness in the dynamic real estate market.
- Data silos, isolated pockets of information, creating both privacy and security concerns, jeopardizing both users and the organization.
- Insufficient business intelligence stemming from incomplete and inconsistent data, hindering effective decision-making.
The firm also lacked data capture systems to collect and build insights of customer behaviour, such as:
- Page visits and clicks
- Email Campaigns (opens and call-to-actions)
- Social media interactions
- Product and Services reviews
- Sales, marketing, and after-sales data silos cause misaligned information
- Limited customer view hampers personalized services in business
These pain points were affecting the firm’s performance, profitability, and reputation in the market.
The Solution Provided
To address these pain points, we developed an accelerator and implemented using Salesforce Data Cloud, a comprehensive data platform that seamlessly merges data from various sources, eventually consolidating disparate customer information. This enhanced operational efficiency and provided a holistic view of customer data, empowering the business with a streamlined and centralized view.
With the solution, we can:
- Comprehensively track property buyer behaviour and interactions on the website. This helps in analysing customer engagement, preferences, and transactions to enable data-driven decision-making and creation of new products/services for better customer service, thus reducing time to market.
- With marketing cloud connector for Data Cloud, the prospective buyer’s email actions (email clicks, opens, unsubscribe) data too will be recorded, which helps in customising and personalising the campaigns and next actions for the customer.
- Enable real-time buyer insights for the business teams with calculated insights. This empowers them with ready access to insights, facilitating informed decision-making and enhancing overall customer engagement.
- By leveraging comprehensive insights, personalized interactions, and targeted marketing, this solution optimized client relationships for enhanced success.
The Business Outcome
With the solution provided, the firm was able to take advantage of the unified customer profile, customer 360 view and see the following benefits:
- Improved Campaign Effectiveness with the help of personalised campaigns based on the unified customer profile
- Higher Conversion Rate of leads to customers due to improved personalisation.
- Reduced time to introduce new products to the market with 360-degree data view
- Increase in Average upsell value, overall sale value with the help of customer website activity tracking
- Increase in Upsell revenue by channel thanks to the customer behaviour tracking.
- With the help of Customer 360 view, the firm saw improved customer Satisfaction score
- With unified customer profile, all the customer interactions were readily available for the case officers to quickly and efficiently resolve Cases
With the outcomes firms can easily increase their market share, revenue, and customer loyalty and go beyond their competition.
Conclusion
Beyond the numbers, the real estate firm can gain a strategic advantage. They could anticipate customer needs, deliver highly relevant offerings, and foster deeper relationships. In a competitive market, this translated to increased sales, improved brand loyalty, and sustainable growth.
This is just one example of how Salesforce Data Cloud empowers businesses to unlock the power of their data. By breaking down silos and creating a unified data landscape, we help organizations achieve remarkable results.
Are you ready to transform your business?
If you are ready and interested in learning more about Data Cloud and how it can help your business, please contact us at info@megnity.com. We would love to hear from you and discuss your data needs.
Thank you for reading this blog post. I hope you found it useful and informative.
