Type of project: Product value proposition

Context

Almost 19% of the visitors leave their phone number to know the value of their property but only 0,35% of them ask for a real estate agent to visit them when we call. There is an 18,65% just considering selling but not looking for it yet.

There is a big telesales team calling these cold leads.

Business goal

To increase the conversion rate from lead to customer, which is very, very low.

Product strategy

Stop burning the leads and look for ways to nurture them.

To convince the telesales team there are better moments to call customers for selling and reduce the friction about digital products assaulting their current job.

Research goal

To conduct preliminary generative research to:

• Understand the relevance of the valuation of the property and information about the area.
• Optimise the account creation process (make it the best possible hook).
• Understand what other hooks exist for account creation.

Scope

This is an exploratory study whose success we will measure by the usefulness and depth of the information we collect.

We will be able to collect metrics that measure the success of the product value proposition once it is put into production.

Plan

Define

Workshop with the core team to refine an overview of the project.

We conducted a briefing session to frame the study by reviewing:

• The business goals
• What do we already know
• What is the problem we are trying to solve
• Assumptions and questions
• Ways to collect the information

Collect

Generative sessions in two parts:

• Interview covering journeys, feelings and competitor’s perceived performance.
• Concept testing with an offering of a property valuation tool with no phone contact but a user account creation with information and a set of additional services in packs.

Understand

Analyse

Debrief

Data analysis

Modelling

Synthesising

Spread

Sharing session

Impact

The design for account creation is done and waiting for development.

Other countries from the real estate group are working on this information too, to build solutions for inform people considering selling their houses.