Digitalization Has Increased Customer Focus in Indian Real Estate - Niranjan Hiranandani

A paradigm change from a product-centric to a customer-centric approach was brought about by digitization in order to accommodate changing consumer demands. Modern avant-garde homebuyers have a biased allegiance and affinity for companies that balance ecology, economy, and emotion in a way that is known as “conscious consumerism.”

Since contemporary technology can already mimic human emotions, the economy is largely based on analyzing user behavior and emotional states. The economy is rapidly changing into a “emotion economy” thanks to the era of digitization. As the new currency for growth, the industry is increasingly leveraging the power of emotions to foster brand loyalty and create unforgettable customer experiences. Mapping emotional journeys leads to the deciphering of consumer purchasing habits, since real estate purchases are extremely sentiment-concentrated.

Real estate companies now have access to crucial consumer data thanks to digitization, which supports client segmentation and improves the customized experience. Using the appropriate channels, hyper-personalization of client communications reduces the cost of acquiring new customers. Virtual and augmented reality, automation, AI & ML, and the Internet of Things have revolutionized consumer behavior and consumption patterns. With access to research-based information, the progressive client base is overabundant with options, enabling them to do their homework and arrive at wise judgments.

In the current economic climate, when brand commoditization is an issue, consumers must exercise caution when making decisions by doing thorough brand audits. This encourages firms to get ready for customer-centric approaches in order to thrive in this cutthroat era of globalization.

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It is essential to have a bespoke approach and omnipresence of brand in order to serve various client segments. Developers can now incorporate changing client demands and preferences to create one-of-a-kind customer experiences thanks to digitization. Creating an exceptional user experience is crucial for increasing client stickiness and generating lifetime value. Rewards, recommendations, and reviews influence consumers’ purchasing affinities. Continuous mapping of the customer satisfaction index pushes firms to fulfill their lofty promises within the allotted time constraints. Exceeding client expectations by providing superior goods and services will increase brand loyalty. As a result, satisfied customers are more inclined to fortify customer relationships and close the trust deficit, which helps brands reduce sales cycles.

Purchase trips from different regions have been accelerated by new digital tools including chatbots, e-payments, virtual tours, initial reaction times, one-touch resolution, and customer happiness meters. With the help of this digital solution, NRI buyers can quickly accelerate sales velocity and make well-informed decisions without encountering any physical obstacles. As a result, it encourages companies to expand internationally for their entertainment and draw in clients in the age of technology.

In the real estate sector, where space and service integration are obvious, the idea of after-sale service has gained traction. To further integrate the ease of living phenomenon, support services are now readily available at the touch of a finger, supported by an effective customer relationship management system.

The integration of the long-standing industry desire for single window clearance to speed up procedures and documentation for on-time project delivery has been encouraged by the development of digital technology. Using the appropriate high-tech technology will improve transparency and optimize processes to a level of worldwide par excellence, says Niranjan Hiranandani news.

“Customer-centricity and service” is the new business epicenter for the real estate industry. An important turning point in the brand’s development narrative will be when it demonstrates emotional compliance to its real customers. As a result, digitization is a helpful disruptor in eliminating the brand’s enduring influence on consumers’ minds.