Summary
This conversation explores the journey of Domain, an online property platform in Australia, towards becoming a customer-centric organization. The discussion covers topics such as the transition from print to digital, the importance of understanding customer needs, the implementation of Salesforce CRM, and the challenges faced in sales transformation. The conversation highlights the significance of data and analytics, the role of Salesforce as an enabler for customer-centricity, and the importance of building advocacy and partnerships. It also discusses the hurdles in achieving listings parity and shares a mistake made in implementing price estimates on listings. The conversation explores the importance of customer centricity and transaction speed in the real estate industry. It highlights the need for agents to have as much information as possible to manage the expectations of buyers and sellers and bring them together for faster transactions. The guest emphasizes the importance of executive level support and cross-functional collaboration in implementing customer management strategies. Additionally, he discusses the significance of capturing customer feedback through various channels and investing in data capabilities to add value for clients.
Takeaways
Transitioning from print to digital requires overcoming challenges and transforming the business model.
Understanding customer needs and being customer-centric are essential for success.
Data and analytics play a crucial role in providing insights and adding value to customers.
Salesforce CRM can enable customer-centricity and provide a single view of the customer.
Building advocacy and partnerships with customers are key to growth and success.
Chapters
00:00 Introduction and Background
01:30 Transition from Print to Digital
03:06 Customer Focus: Real Estate Agents
05:19 Two-Sided Market: Buyers and Sellers
09:31 Customer-Centric Approach
11:10 Understanding Customer Needs
13:03 Importance of Data and Analytics
16:15 Implementation of Salesforce CRM
17:50 Salesforce Integration and Metrics
21:26 Salesforce as an Enabler for Customer-Centricity
24:44 Engaging Senior Stakeholders
25:53 Competitor Response
29:06 Building Advocacy and Partnerships
32:20 Challenges in Sales Transformation
34:20 Hurdles in Achieving Listings Parity
36:15 Focus on Controllable Yield
38:05 Shift in Salesperson Traits
41:51 Mistake: Price Estimates on Listings
45:16 Customer Centricity and Transaction Speed
46:52 Key Takeaways