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10 February, 2023
In the current era, digitisation has made real estate more customer-centric. Homebuyers now have a skewed affinity and loyalty towards the brands that practice ‘conscious consumerism’ by having the right link between Emotion – Ecology – Economics.
As modern technology has started simulating human emotions, the economy is driven now by harnessing the state of emotions and the user’s reaction. This has enabled the economy to quickly morph into an ‘emotion economy’. Now the sector is tapping the power of emotions in garnering brand loyalty and improving customer experience, this is the only way to achieve growth. As real estate buying is highly sentiment-concentrated, decoding customers’ consumption patterns also include mapping the customers’ emotional journeys.
Digitisation has given an insight into customers’ emotions and choices, providingan enhanced customised experience. The hyper-personalisation of customer communication has led to lowers customer acquisition costs.In today’s scenario when the economy is facing the challenge of brand commoditisation, it has becomecrucial for customers to be prudent in their choices. This has led brands to brace customer-centric methodologies in order to prosper and flourish in this competitive age of globalization.
Digitisation has enabled developers to plug in evolving customer needs and preferences for providing unique customer experiences. New-age digital tools including one-touch resolution, first response time, customer satisfaction meter, chatbots, e-payments, virtual tours, etc. have fast-tracked purchase journeys from across geographies. This has also enabled NRI buyers to make well-informed decisions and helped expedite sales velocity. After-sale services haveslowly become the norm in the real estate industry, where space and service integration is evident. Customer delight has led to a single window clearance to expedite processes and documentation for timely project delivery. Companies are now using the right hi-tech technology to further augment transparency and streamline operations. The real estate business is slowly becoming ‘customer-centricity and service’ and emotional compliance by the brand towards its authentic customers has become a significant milestone in the brand evolution story. Therefore, digitisation has become a positive disruptor in the real estate sector.
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