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A new market powered by VIDEO!

Posted by Simon Taylor - 28 May, 2020

Video is everywhere you turn now, or so it seems. But should you invest?

In this brief insight, we're sharing some simple stats that suggest customer expectations are definitely changing, and we should take this seriously.

In our updated tracker report this week, we see continued evidence that customers are returning to property websites in overall numbers, equal to average levels of the previous 15 months.

But they also continue to use Live Chat in much greater proportions than before the Coronavirus Crisis and Lockdown, and crucially are pro-actively requesting video enabled services. 

property video tours

This is just one example of regular customer requests we now see on Live Chat, for video tours and virtual viewings. And that's just Buyers. There are just as many from Sellers too.

Video Valuation Request

And the numbers stack up. The graph below shows the proportion of customers who pro-actively requested a video enabled service, completely unprompted. Our sample was taken from 92,000 Live Chats on property websites, from the start of 2020 up to this last week. It simply shows the proportion of customers who seemingly expected video services before Lockdown, versus within Lockdown.

property video requests

There seems a very clear indication here that customer awareness of video enabled services is now significant. They have actually heard and seen what is possible from certain businesses, and adapted faster to lockdown circumstances than the majority of other businesses.

Customers have a growing expectation of video enabled services, which supplement face to face services. Couple that with the rise in Live Chat engagement, and we see a building indication of an even greater usage of all online services and communication channels than we had seen in the last few years. The Coronavirus Crisis has been a catalyst for change, and customer are moving quickly.

Please take video very seriously, and offer as many of your services online as possible. For those who say 'online' can never replace 'face to face', I completely agree. It cannot. That is not the debate. That risks avoiding the reality that online will dominate all behaviour in ever greater proportions in the future.

Grab reality now, and start future-proofing. Let me know if we can help.

 

I can be reached at simon.taylor@yomdel.com and I'm always happy to chat. 

 

 

Topics: Property, Coronavirus, Industry trends