CoreLogic's General Manager for Banking and Finance Solutions, James Vaughan, writes about creating differentiation in an age of information overload.
As someone who works for a property information company, helping customers find, acquire and protect their homes, I spend a lot of time researching the best ways of using our data to deliver on that objective.
Contacting consumers at the right time, with the right message, and delivering valuable information based on their immediate homeownership financial needs is becoming a race that many organisations are looking to win.
My own research and device behaviour have placed me within multiple target segments, leading to a situation whereby I am bombarded by offers so frequently it is overwhelming. Thinking about my own experience has led me to question how consumers are differentiating between so many offers and providers, what is it that makes them click through to become a qualified lead?
The following are a few conversion reasons I have identified:
Huge frequency and consistency of message through social media
- Buy Ready
- Property Insights
Now, I’m not saying this is the best customer experience from a contact strategy perspective, but the fact that organisations are pushing this so hard, plus the property valuation API being the most called service in the CoreLogic suite to return a house value, leads me to believe it’s paying off.
This social media strategy feels like the new TV advertising for home loans, but with measurable uptake through conversion.
Seamless workflow, driven by relevant content
Today's Digital Marketing tools have made it increasingly easy to provide your contact details to a finance provider or broker in a few simple clicks. Pre-populated contact information, auto-fill and the ability to sign-up using social media logins are now industry standard, but, consumers still want something valuable in return for their personal data. CoreLogic is moving from syndicating quarterly reports for mass-market updates to providing highly relevant content based on the segments you are looking to attract, including:
- providing FHB with the most affordable locations
- providing investors with the best properties for capital growth or rental returns
- showing costs to move for upsizers and unlocking equity for downsizers
There are some readily available and straight forward events that are highly correlated to a property finance event, including:
- anniversary of purchase
- capital growth (both positive and negative)
- renting out
Many of these events are available to drive timely “always-on” contact strategies that, if coupled with the relevant workflow and content from point two, could become the new norm. Used in conjunction with other data (proximity to the listing, other major financial events, credit demand) and complying with privacy regs, smart contact strategies (i.e. helpful not creepy) will make winning the race a much more sure thing.
One thing is certain; the digital space is becoming increasingly more crowded with finance providers using a combination of all of the approaches above.
There is an insatiable appetite for information about properties in Australia, and it is the CoreLogic mission to help our customers get this into the hands of the right homeowners, at the right time, with a relevant message to help them find acquire and protect the home of their dreams.