What if you had a tool that identified which of your sales office visitors would become buyers? Registration cards (AKA reg. cards) have long been used as a way to log contacts and understand who is ready, willing, and able. Evolving technology has led to even more sophisticated scoring strategies. But there now exists a powerful tool that remains largely unused by builders: the Walk-In survey.
Walk-In surveys are sent to prospects very shortly after they visit a model home or sales office. Unlike a registration card, prospects can respond without feeling pressure to provide intrusively personal information (age, income, etc.).
The brevity of the Walk-In survey is intentional, posing only a handful of questions. All are useful to sales management (evaluation of the greeting, home tour, etc.).
"Based on your recent visit, are you more or less likely to purchase?"
That's right, instead of looking for a crystal ball, all you need to do is ask.
Statistics show that among prospects who respond to a Walk-In survey, one in five becomes an actual home buyer. Even more intriguing, for those who respond "more likely to purchase," a staggering one in four ultimately signs a contract*.
The significance of these surveys cannot be overstated. These insights go beyond a mere statistical advantage. They offer a sneak peek into the minds of those genuinely considering a new home purchase. Identifying these potential buyers amid the sea of visitors to model homes is priceless.
Response rates typically hover between 15-20% for Walk-In surveys. This is lower than other types of home builder surveys, but about what you might expect from home shoppers who have yet to establish a relationship with you. The crux lies not in the number but in the quality of the responses.
The ones who do respond yes to this question – are highly likely to purchase a home from you. Your sales team should follow up accordingly.
The ones who say no are then asked why. This is really powerful data to act on to prevent losing future sales. You likely won't have another opportunity to ask them, because, well...they're gone.
Utilizing the insights from Walk-In surveys empowers homebuilders to fine-tune their sales strategies and customer experiences. Integrating this new data source into the decision-making processes of sales managers marks a paradigm shift that can pave the way for more targeted and effective approaches. Results paint a vivid picture of how a Walk-In survey can turn visitor intentions into concrete sales, demonstrating their efficacy and relevance in the homebuilding industry.
The future of homebuilding undoubtedly lies in the hands of those who leverage technology, customer data, and innovative strategies. The untapped potential of Walk-In surveys is a signpost guiding the way forward, offering a distinctive edge to understand and predict customer behavior, allowing you to decode the intentions of potential buyers and adapt your strategies accordingly.
Implementing a Walk-In survey is quick and inexpensive. Most programs can be up and running in a matter of weeks. Even if you have a dedicated survey partner or your CRM includes survey functionality, we know it can be frustrating to get started. Let us help.
*Results are based on 4,600 Walk-In surveys collected from model home prospects between 2021 and 2023.