How Home Builders Can Use Artificial Intelligence to Increase Lead Generation

March 29, 2024

How Home Builders Can Use Artificial Intelligence to Increase Lead Generation

The homebuilding industry is constantly evolving, and with it, the way potential buyers search for and interact with builders. Today’s homebuyer is tech-savvy and expects a seamless, personalized experience throughout their journey. To stay ahead of the curve, builders need to embrace new technologies, and one of the most powerful tools at their disposal is Artificial Intelligence (AI).

AI can be a game-changer for lead generation, providing home builders with enhanced efficiency, deeper customer insights and powerful problem-solving capabilities. Here’s a breakdown of how AI can be harnessed to turn prospects into qualified leads:

AI-Powered Sales Training: Anticipating Buyers’ Needs

Imagine having a crystal ball that reveals the exact questions potential homebuyers will ask. With AI, this sci-fi scenario becomes reality. AI platforms can analyze vast amounts of data to identify the most frequently asked questions by different buyer personas. For example, you can uncover the top concerns of first-time homebuyers or pinpoint the pain points plaguing prospects in your target demographic.

This invaluable information can then be used to create targeted sales training programs, including highly realistic sales scripts and buyer scenarios. Tools like ChatGPT can generate dialogue for role-playing exercises, helping your sales team anticipate buyer questions and fears, leading to more prepared and confident interactions. Easily addressing buyer needs and overcoming their objections can lead to a more satisfied home shopper who is ready to make a purchase decision.

AI for a Sales Advantage

Imagine having an always-on sales team member who works 24/7, tirelessly answering questions and qualifying leads. Well, with AI-powered chatbots, that’s exactly what you get! These chatbots can engage website visitors, answer common questions about your communities and homes, and even schedule appointments – all outside of regular business hours. Capturing leads while you’re asleep? Yes, please! Plus, according to data from AtlasRTX, homebuyers are two to three times more likely to engage with a chatbot versus live chat because of the ability to get questions answered immediately.

You can even take it one step further, from a chatbot to a branded virtual sales assistant through the GPT store. Envision your own proprietary AI tool ceated as a human-like avatar that helps home shoppers explore floor plans, select options, compare properties and even set appointments or negotiate offers – all at their own convenience. This empowers buyers while freeing up your sales team to focus on high-touch interactions.

The goal of chatbots and other AI-powered sales tools is to meet your buyer whenever (and wherever) it’s convenient for them. While the overall sales goal is to always get the customer to a human, AI can speed the initial qualifying process up by being available anytime and being able to quickly gather data. An added bonus? This data gathering allows for additional personalization as the buyer moves down the sales funnel!

The data gathered by AI is then turned into usable snippets of information that can inform decisions and disseminate material. By utilizing AI to better understand your customer, what matters to them and their pain points, you can cut down on the time spent in the discovery phase – the time from when an OSC or agent is first contacted by a potential buyer until they have a qualified appointment set. For example, reports that one builder using their AI technology reduced their average discovery phase from 90 days to a mere 21 days.

The Power of Personalization in Lead Nurturing

Personalization is key to building lasting customer relationships, and AI excels at this. Imagine a website that uses a visitor’s browsing history to recommend floor plans and features that align perfectly with their needs and preferences. This level of personalization creates a more engaging experience and makes leads feel like you truly understand what they’re looking for.

AI analyzes demographics and behavior to assign a lead score indicating purchase likelihood. This lets your sales team focus on the most promising leads, maximizing their efficiency and closing more deals.

Additionally, AI can automate email follow-up campaigns that send targeted messages based on a lead’s interests and stage in the homebuying journey. Platforms such as Humantic AI can also analyze a prospect’s digital footprint, primarily on platforms like LinkedIn, to glean personality insights. These tools allow you to tailor your communication to resonate with each individual lead, increasing the likelihood of a positive response. This keeps your brand at the forefront of their mind and ensures they receive relevant information at the right time.

AI can also personalize your marketing campaigns – see more on that below!

AI as a Data-Gathering Tool for Marketing Campaigns

In today’s data-driven world, understanding your customers is crucial. If you’ve ever wondered what truly matters to your target demographic, AI can help!

AI goes beyond simple chatbots. AI platforms can examine data to identify your ideal customer profiles while providing valuable insights into their preferences and behaviors. This allows you to develop targeted campaigns across multiple marketing channels, from social media to paid search. Imagine reaching people who are most likely to be interested in your homes, not just anyone searching for “new homes.”

Picture a potential buyer seeing a billboard or sign advertisement for your new development. They can scan a QR code and be directed to a mobile landing page with a personalized message based on their location and browsing history. The landing page might showcase floor plans that match their inferred needs and offer a virtual tour option. This level of personalization fosters a stronger connection with potential buyers and positions your brand as the clear choice in their homebuying journey.

The key is to meet buyers wherever they connect with your brand, whether it's the initial online search, seeing signage, billboards or even onsite interactions. By creating cohesive omnichannel experiences and personalized content, AI tools can seamlessly pick up where users left off as they navigate the various touchpoints in their new home journey.
The age of generic marketing materials is fading. AI allows you to create targeted, valuable assets that educate and empower potential buyers throughout their self-directed research.

The Future of Homebuilding is AI-Powered

The homebuilding industry is ripe for disruption by AI. AI-powered tools will not only personalize the buyer journey but will also transform the way builders interact with customers.

By implementing these AI-powered strategies, home builders can experience a significant increase in qualified leads. However, it's important to remember that AI is a tool, not a silver bullet. For optimal results, combine AI with a solid marketing strategy and a human touch in your sales follow-up.

Let Milesbrand Help Craft Your Brand Identity

In today's competitive market, a strong brand identity is essential for any homebuilding or real estate development company. At Milesbrand, we help you craft a unique and memorable brand that resonates with your target audience. This leads to increased brand recognition, trust and ultimately, more sales. Contact us today to learn how we can help your brand stand out from the crowd.

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