"Dis-intermediation - the removal of intermediaries from a supply chain; cutting out the middlemen in connection with a transaction or a series of transactions"
Uber, the world’s most valuable taxi business, owns no vehicles. Facebook, the world’s most powerful media company, creates no content. Alibaba, the most valuable shopfront, owns no inventory. Airbnb, the world’s largest accommodation provider, owns no property.
Digital disruption changes the dynamics of whole industries by taking control of the relationship with the customer, managing the customer journey and diluting the relevance of traditional businesses to their customers.
New competitors will continue to try to disrupt this market and attack your market share - you must be prepared to hit back hard by innovating and re-thinking your value proposition.
Disruption or Innovation ?
Disruption turns industries on their head by offering consumers something that previously didn’t exist. Innovation makes an existing value proposition better. Innovation isn’t about growth – it’s about competitive response.
Customer experience is the new battle ground
Today, customer experience is the single most important metric driving brand growth globally and it's where estate agents have a huge advantage over online-only operators. That advantage lies in offering what online cannot - providing for the needs of people as social beings, blending offline, online and mobile engagement, assisted by technology, ensures high street agents maintain a huge advantage.
What makes a great customer experience?
Estate agency is an industry defined by "real and physical experiences", consumers value speed, convenience and consistency from friendly and knowledgeable local experts with a human touch. —that is, creating real human connections while making sure your staff has the technology to deliver these experiences.
Creating meaningful consumer value solely through technology is difficult, IT needs to be recognised as as a means, not the end in delivering a great experience.
Know your customer
People love convenience and personalisation. Take a step away from standardised content and toward personalisation, customisation and one-to-one communication and marketing. Taking a process that’s outdated and putting a personal spin on it reaps rewards.
In this on-demand, digital world, we all have greater expectations of speed and want to be responded to on our timeline and our preferred channels. Agents need to deliver by being more convenient, more engaging and faster to engage throughout the sales life-cycle.
Knowledgeable and professional agents offer a wealth of value and are well placed to disrupt its disruptors but that differentiation needs to be communicated quickly and clearly to buyers. A razor-sharp focus on technology-driven user experience allows good estate agents to shine in the digital age.
In an industry built on trust, expertise and relationships, providing your leads with the means to communicate with you on their preferred channels delivers fast answers, superior service and far greater customer relationships.
Immediacy and personalisation
The first stop for house-hunters is online. A quick portal search shows us available properties and what they are worth. Technology should act as a bridge between you and the buyer portals, by engaging with enquirers instantly, 24 hours day, bringing a layer of immediacy and personalisation that buyer's expect.
The technology to bring all this to life is available now, but it must be adopted to deliver the quality of service demanded from today's buyers and fend off the onslaught of digital disrupters.
The smarter agents will embrace this technology to survive rather than remain attached to out-dated models. History shows that failing to embrace the right technology is doomed to failure, regardless of the industry.
By providing estate agents with a powerful lead management platform, we solve huge pain points that both agents and buyers feel every day. Estate agents have an expectation that their technology partners prove an ROI, we beat those expectations consistently