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Real Estate Tech

Helping tech-enabled Real Estate players across co-living, co-working, hotels, etc. with insights on consumer sentiment, designing of customer journeys and enhancement of digital presence, customer retention and recall

What We Do

Customer segmentation
Customer needs assessment
Sector scan
NPS diagnostic
Voice of Customer
Customer purchase journey
Competitive intelligence
Property owner benchmarking
Category trends
Voice of channel
Unit economics benchmarking
Target screening and diligence

Customer segmentation

What are the key customer segments? What is their persona?
How do needs, preferences, and behavior vary by demographic, geographic, psychographic profile of the real estate tech customer?
What are different aspirations of the customer?
How is the digital presence of the consumer?
Which customer segments are most valuable for the brand / service?
How can you target specific customer segments?

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Customer needs assessment

What are the customers' expectations and perception of the brand / service?
Where are the gaps between customer expectations and current product offerings / service levels?
What are the underlying reasons for the gap?
Are there any new entrants in the market that are focussing on these gaps?
What do the global analogues show about fulfilling gaps for the existing players?
What are the communication changes needed to manage customer expectations?

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Sector scan

What is the current competitive landscape in the sector? How are different players positioned?
How are players faring across segments such as co-living, co-working, etc.?
Have new-age segments within the sector created value for stakeholders?
What are the growth drivers for the sector and sub-segments?
What are the leading brands? Are there upcoming brands in the segment?

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NPS diagnostic

How likely is the customer to promote this brand or service?
Which customer segments are unsatisfied and at-risk for the brand or service?
What are drivers for customer loyalty and NPS? How does the brand fare on those?
What are the industry and competitor NPS benchmarks?
What are common global best practices that can be implemented to drive customer experience?

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Voice of Customer

What are latent and unmet needs of the customer? What do customers value the most?
How does the feedback vary across different segments / sub-segments?
Where do customers want the brand / service to improve?
What is the customer's feedback on new products / services / concepts etc.?
What are the top 3 factors customers look for while purchasing for the service?
Is the customer journey broken? What are the pain points?
What are the things that the brands can improve upon?

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Customer purchase journey

How does a typical consumer journey look like?
What are the key purchase criteria? How does it vary across product categories?
What are the pain points at each stage in the purchase journey?
What are the various channels for purchasing - online vs. offline? How does a customer decide on purchase channel?
What is the impact of offers / discounts on conversion of consumer?
What is the consumer satisfaction with redressal services - call / text / email?

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Competitive intelligence

What are the most important themes to track the competition?
How is the competition performing across these themes?
Is the target losing / winning w.r.t. competition? Why?
What are the competitors doing differently in the market?
What are the plans of the competitors for the near future?

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Property owner benchmarking

What are the top concerns of property owners of a given brand?
How does the property owner of a given brand perform on key strategic, operational and financial parameters?
What was the property owner baseline (Revenue, EBIDTA etc.) before partnering with the brand? What is the overall increase in these metrics across selected clusters of properties?
How have direct and indirect revenue levers been influenced?
How have fixed and variable costs changed?
How do various properties vary across customer experience, guest retention, loyalty etc.?

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Category trends

What is the market size and growth rate of the Real estate Tech category? How are sub-segments within the category growing?
What is the growth outlook for the categories / sub-categories?
How are consumer needs changing?
How does the unit economics and profitability look like for each category?
Are there global segments within Real estate Tech in other advanced markets yet to enter India?
Which business models are doing well? Why?
What are the key trends and innovations driving category growth?

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Voice of channel

What is the feedback from multiple channel participants on brands / services?
Which services / offerings / packages are channel partners most satisfied with across categories and why? How is their overall experience?
What are the reasons for preference of a particular brand / service over others?
What are the TATs across various stages of customer journey (Discovery & Booking, Fulfilment)? How do they compare with competitors?
What tactics are competitors pursuing in the market?
What do trade partners like / dislike about the brand?
How can the brand / service improve its relationship with partners?

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Unit economics benchmarking

How does unit economics and its components (revenue as well as cost side) compare w.r.t competition?
What are the different revenue streams per customer? What are the drivers of revenue?
How much does it cost in time and money to service / acquire a customer?
What fixed and variable cost components are associated with servicing a customer?
What are the drivers of fixed and variable cost?
How do the unit economics vary across customer segments, products and geographies?

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Target screening and diligence

How does the competitive landscape of a market look like?
Who are the major / emerging players in the market?
What is the value proposition of various players?
What is the competitive differentiation and growth strategy of players?
How do players compare on critical factors like unit economics?
What is the likelihood of the success of players? Who will emerge as a winner?

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Connect with our Real Estate Tech Experts

Hitesh Gossain

CEO, Network

Amar Choudhary

CEO, Intelligence & Insights

Abhishek Maiti

Director, Intelligence & Insights

Praneet Singhal

Director, Intelligence & Insights

Related Case Studies

Benchmarking of co-living survey basis NPS and value proposition to homeowners

Objective

A multinational investor was looking to identify a potential investment target in the booming student housing and co-living market in India
Client wanted to understand the strength of co-living companies’ value proposition & NPS to customers and real estate homeowners who supply properties to these companies

Methodology

Conducted in-depth interviews (N = 40) of real estate suppliers of 5 organized players
Created discussion guides to understand NPS, perception, selection, and current experience w.r.t. earnings, relationship, yield, etc.
Created a set of parameters to shortlist the most lucrative company among competitors for an investment opportunity

Impact / Outcome

Successfully provided client with comprehensive study benchmarking student housing and co-living players with deep insights including NPS on supply aspects to enable the firm to identify an attractive investment target

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Blue collar workers sub-segmentation to understand value proposition for a major real estate tech player in India

Objective

Client wanted to segment blue-collar workers into different archetypes and understand their living habits and housing spend

Methodology

Conducted in-depth interviews (N = 150) with blue-collar workers to assess their monthly income and expense on rent and ancillary services, their expectations, and aspirations to segment them into different personas
Conducted top-down market sizing approach using migrant population of blue-collar workers and their willingness to stay in co-living set-up
Conducted secondary research via leading news publications, market reports, government databases, etc

Impact / Outcome

Client was able to focus on blue-collar workers below a certain age as they are more likely to opt for co-living
Client could understand that hygiene, rent & sanitation facilities are the 3 most important criteria for blue-collar workers to opt for co-living

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Competitive intelligence tracking of co-working players

Objective

A co-working player in India wanted to understand unit economics of key competitors in the co-working space
The player also wanted to know details like carpet area of centers, seat density and occupancy

Methodology

Conducted in-depth interviews (N = 40) of stakeholders (managers, community managers & employees) across 5 workspace providers in 3 different cities (Delhi NCR, Mumbai & Bangalore)
Created unit economics model to benchmark key competitors in the co-working space
Conducted deep level secondary research via sources like player websites, leading news publications and online reports

Impact / Outcome

Successfully estimated unit economics of key competitors of the client
Client was also able to understand other details like total workspace areas of key competitors, occupancy, and seat density

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Customer behavior research of co-living players across India

Objective

An investor wanted to understand the co-living market in India with a deep focus on key players and the value proposition to its customers
Client also wanted to deep dive into behavior of students / young professionals residing with co-living players
Full-spectrum market survey with existing co-living and student housing customers to top 5 organized players along with other unorganized players in the market

Methodology

Conducted a deep survey (N = 480) with customers of top co-living players(organized and unorganized players) in India
Created survey questionnaire to understand the service portfolio and terms of engagement, key purchase criteria, the overall experience on key parameters like food, security, location, housekeeping, infrastructure, etc., NPS, and renewal propensity of customers
Created an excel data book for seamless and efficient capture of insights derived from the survey

Impact / Outcome

Successfully provided the client with comprehensive study benchmarking student housing and co-living players with deep insights on demand aspect (students / young professionals) to enable the firm to identify an attractive investment target

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Customer NPS track for a major co-living player in India

Objective

A major co-living player in India wanted to understand the customer NPS, key retention drivers, and renewal propensity of its target segment across several micro-markets in India

Methodology

Conducted a deep survey (N = 4,000) with customers of co-living players per quarter across key micro-markets in India
Finalized N per micro-market basis # beds in each micro-market for optimizing the survey N
Created a robust excel data book to capture data derived from the survey which primarily included - NPS, retention drivers and renewal propensity of the consumers, and trends by regions & micro-markets

Impact / Outcome

Client was able to understand its positioning to the consumers and how to improve customer retention on an India level, regional level as well as the micro-market level

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Student housing customer experience study

Objective

An Indian PG accommodation player wanted to understand customer satisfaction level, favorable price points, required service / offering model in each, and current needs and pain points

Methodology

Conducted quantitative in-depth interviews (N = 250) of student residents (across metros & tier 1 cities)
Conducted in-depth interviews (N = 30) of ground personnel handling ops, student complaints, etc.
Created deep level discussion guides to understand customer satisfaction levels, aspirations, KPCs & pain points
Created transcripts to capture voice of the stakeholders and enable seamless capture of key insights

Impact / Outcome

Client was able to understand the customer journey of the target segment and the set of specific services required to provide enhanced experience
Client also understood current needs and pain points of the student residents, thereby realizing how its own offerings need to be customized in order to meet target requirements

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