By Laila Khan
I still remember the challenges of being a first-time homebuyer. My husband and I were very young with three toddlers and we had no idea what we were getting into. We knew we had to save a big chunk of money and that was about it.
The financing process was daunting. We were shocked at the amount of data we had to supply, and we grew increasingly frustrated at all of the undisclosed aspects of the application and eligibility process. We dealt with one curveball after another before we finally held the keys to our home.
All that time, we were anxiously looking for reliable resources and professional guidance, and we didn’t find it.
Now that I’m working in this field as a marketing leader at a home finance company, this reliable guidance is what I aim to provide to the young homebuyers of today.
The basic needs of buyers haven’t changed, although the methods and options have progressed lightyears ahead. The way that Guidance Residential has come to the forefront in our niche space is by understanding and addressing our buyers’ needs while communicating with them in the ways they have come to expect.
Here are some of the lessons I’ve learned.
#1: Care about them
This was easy, because we already did. They are who we were a few decades ago.
Caring also comes from knowing the impact of your work, the end result. In our case, our immigrant families truly establish their roots in this land through our services.
Our niche market of American Muslim home buyers was previously under-served. Many felt as though they could not buy a home because they couldn’t find financing that aligned with the teachings of their faith. So, we know that the product we offer transforms lives, and every single employee at our company is passionate about that.
We love knowing that our clients will improve their families’ stability by buying a home. We know this investment will improve their financial situation as well. And we know that all of this will allow them to open a cascading series of doors, beginning with education, for their descendants for generations to come.
In order to provide outstanding communication to customers, the kind that makes them feel informed and treasured, and the kind that makes them seek out further engagement, you have to truly care. Authenticity is essential.
#2: Know them
You also have to understand them. Our clientele is extremely diverse, representing a wide range of ages and backgrounds, including native-born Americans and first- generation immigrants. To serve such an eclectic community, we need to be especially mindful of cultural nuances. One way we do this is by staffing a very diversified team who can communicate in nearly 18 different languages.
Understanding consumers of different ages is just as essential. Marketers do this best when we are also consumers of the content. This takes understanding beyond something conceptual, to truly understanding why a message or a channel resonates with the culture. We not only need to see ethnically and racially diverse faces in leadership roles in the industry, but we need age diversity as well.
Part of understanding your market is understanding how they interact with technology so you can communicate with them; and, better yet, capture their engagement.
According to the University of Southern California, about half of millennials, for example, are highly engaged online. Half of that group, in turn, one-quarter of millennials, are “digital socialites.” Speak their language and they will respond in spades. Not only that, but all of their friends will see their engagement, turning them into ambassadors for your brand. The rest of that half are “media junkies.” Even mor tech savvy, they’re looking for high-quality online products to teach them about our brand. High-quality video and interactive web features are not a luxury; they are a necessity. These are the standards I look for and younger homebuyers expect no less.
#3: Communicate through cutting-edge technology
Understanding our customers has enabled us to meet their needs in kind.
One reason our customers come back to us and pass along referrals is because our transparent process makes home financing so much simpler and less stressful than it was when we bought our first home.
In the age of convenience, customers expect seamless and cohesive communication in THEIR preferred channel, whether they’re on social media, email, website chat, text, etc. It is all about perfection of the Omni channel.
Our online dashboard allows customers to know where they are throughout the process, along with what to expect next and what’s needed from them at any point in time. They can access this information any time they want, day or night. No more frustrating quagmires and unpleasant surprises. In fact, if they would like, they can conduct most of their business with us online, from pre-qualification to submitting documentation.
Timely communication will likely lead to more automation, chat bots, and use of AI. But the human touch factor is still critical for customers who are making one of the largest purchase decisions of their lifetime. So, we combine cutting-edge technology with in- person accessibility to answer questions and provide personalized assistance. This combination allows us to meet the needs of our full range of customers.
Customers want authentic relationships and at the same time they aren’t willing to wait. Those authentic relationships and timely communication have to be part of the initial marketing outreach, the home financing journey, and beyond closing. This requires a comprehensive and forward-looking strategy on our marketing side, sales side, and technology teams.
Last thoughts
Marketing is a complex and challenging puzzle, and many factors are required for an effective effort and a successful campaign. Just a few of those points include extensive research; evaluating data and analytics; studying trends; and, learning all about your target audiences. With technology evolving, the customer’s expectations are also always evolving and the “Amazon” experience of immediate response and a digital journey has become standard.
Add additional components that surface when catering to a niche demographic, and your task at hand becomes monumentally more challenging.
Things are evolving faster than they ever did before, which is very exciting. As trends evolve, so do our customer journey and marketing efforts to younger generations interested in home financing. Our goal is to constantly, unequivocally provide the best exceptional services, resources, and product for anyone interested in working with us for their home financing.
Customers are not just business transactions; they are relationships we’re building. When we work with a client, our efforts are achieved through the customer’s lens, and it’s imperative that we feel the transaction as though it’s our own, each and every one.
Our goal, in the end, is to build and establish lifelong relationships with our customers. Not only are we supporting homeownership, we are building communities. We don’t want to only serve our customers with this current transaction exclusively, but we want to be there for their refinances, their friends’ home purchases, and their children as well. We want to be their choice for life.
Laila Khan is the assistance vice president of marketing and communications Guidance Residential. Her emphasis on the customer journey and marketing strategies have directly impacted her company’s visibility and brand awareness, generating more leads, and building partnerships. Laila lives in Virginia with her husband and three children. Connect with Laila on LinkedIn or email her at [email protected]
