with John and Anya
Episode 10, February 22, 2022
In an online world where we can instantly match and notify Buyers and Sellers of house matches, why do we still have to manually search in vain for our dream homes each day? This old way of shopping new homes is not only frustrating for shoppers, but it’s also very inefficient for builders who are manually sifting through mountains of good, bad and ugly leads everyday when AI can instantly pare down your best leads and help drive them down personal online sales funnels.
In an e-commerce world, the power is going to shift from sellers to buyers. We’re going to go from a single channel, the website – to an omnichannel shopping experience, from one-directional to a bi-directional sales funnel. The product is coming to the consumers, as well as consumer coming to the product. It’s going from a seller-driven funnel to a buyer shopping based on customer experience. It’s also going to shift from a gradual customer reveal sales funnel, where at the very top through Google ads, you get third party data and they’re anonymous, to getting an immediate customer identification, because they’re going to reveal who they are and what they want.
We’re going to move through the sales cycle a lot quicker as people expect on eCommerce. And instead of going down this multiple session, multiple handoffs and a slow filter, we’re going to go to a one session, quick funnel of instantly finding, designing, and experiencing and buying new homes online. Attract, engage, nurture, and convert sales funnel changes to the analogous stages of find, design, experience and buy – buyer’s funnel.
Currently, home builders rely on consumers using search keywords to describe their dream home. But buyers don’t want to search every day. They just want to set it and forget it with a match and notify approach. There’s no reason to attract a bunch of good, bad and ugly leads with google ads – it’s expensive and not scalable. Instead, let’s pair them up quickly using AI to help guide buyers on choices that are personalized and applicable only to them. So if you have somebody who’s working from home, they would only see that office option. They don’t need to see the three other potential room options that could have been. It combats FOMO (fear of missing out) while eliminating decision paralysis at the same time.
AI is like a sommelier at a fine restaurant giving personal recommendations on pairing wine with food. Traditionally, the sales agent was that sommelier. That’s when you had limited people coming in and they weren’t coming from all over the world. Now people want to be able to do this online from anywhere in the world and they may not want to meet with salespeople-at least not right away.
So does this really happen anywhere else? Of course, it does. This is how consumers shop online in other industries. Companies like Uber, Expedia, Netflix, Airbnb and many more use match and notify approach. Obviously, Zillow’s doing that with existing homes. There are many benefits to match and notify approach over search and here is a comparison of the two:
Everyone can benefit from match and notify approach to new home sales, but especially if you’re in one of the following categories:
So this is what we’re hoping to do. In this new home online marketplace, all these different pieces are matched together using an AI cloud, the virtual assistant notifies both sides. When there’s a match, AI becomes this virtual buyer’s agent and continuously searches. That’s what Amazon has done to the retail industry and now the same principles apply to all other industries.
But at the end of the day, this is just kind of a precursor, all this matching and AI it really becomes like a virtual buyer’s and seller’s agent that simultaneously helps on both sides. So for the buyers it notifies them of new products and changes. It provides personalized information that’s meaningful to that buyer. It’s just as valuable to the seller because on the match notify, it can notify you of the new leads and it can also notify you of your target hits and misses. So basically, you set parameters of tell me every time she comes back or tell me if they came back three times in the last week. It also can be set up with trigger events. It knows how to react to you with marketing. So it all plays into this marketing automation of launching personalized marketing campaigns curating the customer experience, guiding you down a sales funnel and not driving you down a sales funnel.
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