There is no greater advertising than a customer referring your product. Yet, this is one of the least understood or leveraged areas in real estate transactions. The developer’s connection with the customer usually ends the moment the sales deed is signed. In many cases, even this interaction is conducted through a third party, such as a broker.
ANACITY offers developers a platform to strengthen consumer engagement at multiple touchpoints through its white label solutions. Developers can now have access to a specially-built app that is designed to maximise Customer Lifetime Value (CLV) through an exclusive loyalty program.
Customer referrals & CLV
CLV is a metric to measure the total value a customer brings to a business throughout their entire relationship with the brand. Customer referrals are one of the strongest means of enhancing CLV. Referred customers are also more likely to have a higher CLV for the following reasons:
- They are pre-disposed to like the brand.
- They show increased customer satisfaction.
- Repeat business as they are more likely to refer the product.
- Brand loyalty as they also stick to the same brand in the future.
Customer Referrals Vs other marketing channels
While developers rarely focus on running referral programs, they pour lakhs into marketing drives – from full-page newspaper ads to billboards and digital campaigns. However, customer referrals have some clear advantages over other marketing campaigns, including:
- Driving referral programs requires significantly lower investment
- Increased brand loyalty since referring customers are more likely to be loyal.
- Better targeting for interested customers
- An existing customer’s word is seen as more credible.
- Referral programs have better conversion rates
- Referral programs also give us insights into what makes a consumer happy.
Customer referral program through ANACITY white label
With the ANACITY white label, developers can run a referral program on their branded app. The referral program gives property buyers and residents (including tenants) the following:
- A platform to add referrals.
- Check the status of past referrals
- Earn loyalty points which they can redeem later
- Check their total loyalty points
- Find out the developer’s upcoming projects
User-friendly: The user-friendly interface ensures that customers have easy access to add referrals.
Expansive reach: One of the biggest advantages of the white label app is that it is also accessible to tenants – a demographic that is rarely ever considered by developers. It helps them to reach out to all users without any glitzy campaigns.
Retention: Referring users earn loyalty points that can redeemed through pre-decided special offers. This compels the users to keep returning to the app, thus deepening engagement.
Consumer insight: The white label app facilitates data analysis that gives developers valuable insight. For instance, they can find the property that accrues the maximum referrals. By cross-checking this data against maintenance and asset costs, they can determine their return on investment.
For more details, also read Customer engagement: Unifying post-sales to post-possession experience. If you want to learn more about ANACITY white label solutions, get in touch with us at support@apnacomplex or call 80886 11229. Our team will help you leverage the loyalty program to drive customer referrals!