Preparing for Customer 2020

The homebuilding world today is changing; consumers are changing. And the speed of change is accelerating faster than you can blink an eye.

Competitive pressures and increasing complexity are leading building companies to look for an edge wherever they can find it. An insightful study “Customers 2020,” conducted by Walker Information, Inc. tells businesses the solution is in the future.

Imagine it’s 2020. According to Walker, tomorrow’s customers will know more, expect more, and lead the way in defining their experience. Winning companies will be those that are the most forward-thinking—those that consciously and deliberately work at anticipating the future needs of their customers and devise strategies to deliver. And they’re starting to prepare right now.

This is the driving premise behind “Customers 2020.” Its findings provide a clear picture of what the customer experience will look like in the not-too-distant future: what customers will demand, the most critical customer intelligence, how business should effectively use and manage it.

Here’s what you should be focusing on now to exceed customer in the future:

There’ll be no room for strangers. Customers in 2020 will be empowered, savvy and informed. As more and more customers turn to the Internet to find the latest information of products, solutions, and best practices, they’ll demand a new level of “customer obsession.” They will expect companies to know them inside and out and use their knowledge to design products and services that delight them. What’s more? They’ll expect you to personalize their experience, too.

Immediate gratification isn’t fast enough. Customers will expect companies to be proactive, anticipating their current and future needs. To capture their business, they expect you to stay on your toes, always one step ahead with solutions for tackling the next problem or issue—even if they don’t know they have one yet. 

You’ll have to interact on their terms. Customers will want to do business with companies that provide a consistent, informed and superior experience across all channels of communication, taking into consideration that customers have different references. They’ll expect to interact using their preferred method, whether that’s making a phone call, sending an email or text, or messaging you through Facebook or Twitter.

What do these findings tell us? They make it clear that consumer behavior is evolving and that homebuilding companies need to anticipate this evolution in order to be part of, or even influence, the changes. Is your company ready? What changes will you need to make?