Consumers (that includes each of us!) today have become extremely spoiled by the Internet, and we basically expect (demand!) to have all information online and at our fingertips instantaneously via the Web. We have even come to expect that car shopping can be researched completely online prior to visiting the dealer to conduct the paperwork.
The days of keeping customers in the dark are long gone. So why in the homebuilding industry do we still have builders who do not have online, personalized portals for their buyers? This is the single largest purchase a consumer makes in his lifetime, and yet, we expect him to just ‘trust us’ and not sweat the details. How can we expect a customer to be delighted with making hundreds of options decisions involving thousands of dollars, with his only source of info being a rushed design appointment over a few hours? How can we expect him to feel good about this experience? Not to mention how our designers feel through this experience…they too suffer from a lack of current and accurate product information.
Admittedly, in the past -- given the complexity of our business and the ever changing options masters on a per plan basis, involving thousands of manufacturer products -- the creation/maintenance of a personalized portal was rather daunting and a non-starter. But thanks to technology advancements that enable integration in even the most rudimentary of back-end/CRM systems, and the industry’s coming together to amass/update all manufacturers’ products, these are no longer barriers.
The really great news is that for $100, builders can now provide a customer portal to each and every buyer, to better prepare them for an effective and critical design appointment. And the builders who have launched the solution (Envision) are realizing a 15-30% increase in options upgrade sales! So, a $100 investment is yielding thousands of dollars in margin on a per home basis, and the best news for our cash-conscious industry is that the return is immediate. This is not a ‘feel good’ solution with an elusive, ‘maybe someday’ impact…it starts paying back in the first few weeks of going live.
The really great news is that the customers are delighted with it! Not only are they spending more, but they are more engaged in the process (fewer cancellations), and they can even use the portal ‘post close’ to access product information and register directly online with their manufacturers. One of our top 5 builders achieved 100% JD Powers customer satisfaction scores with their buyers using Envision, whereas the control group (buyers not using Envision) were at an 8.5 out of 10.
So what are you waiting for? You are leaving thousands of margin dollars on the table with each home you sell without Envision…and in today’s climate, I cannot think of any builder who can afford that. Join Beazer, KB, Standard Pacific, WCI, Fulton, and other enlightened builders today! For more information, email us at envision@newhometechnologies.com.
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