In the WAV Group Customer Experience Index survey launched this year, we measure subscriber perceptions of where the organization is headed. While most participating MLSs are perceived to be moving more in the right direction than the wrong, there is room to drive home a more clear-cut understanding of the key priorities of the MLS.
We find two overall culprits for subscribers who don’t believe their MLS is moving in the right direction. So let’s take a look at the two main hurdles I have seen MLSs struggle with over the years.
CLEARLY DEFINED GOALS
A lack of clearly defined strategic goals is one of the key causes of a lack of clarity by subscribers. MLSs with qualitative, non-specific goals like “increase engagement with the tools provided” or “decrease the number of listing entry errors” do not clearly articulate the key priorities of the organization. Goals that are not tied to participant ease of use, tech engagement or business generation do not resonate well either. For a subscriber to appreciate the direction of their MLS, there needs to be a clearly defined “WIIFM” — What’s in it for me? If the direction of the organization isn’t tied directly to subscriber or participant success, profitability, or business efficiency, the goals will not mean anything and will not instill confidence in the direction of the organization.
CLEARLY COMMUNICATED OBJECTIVES
The second issue I see most often is a simple lack of communication. Many MLSs that WAV Group works with have very clear and concrete objectives, and are effectively deploying their resources to accomplish them. However, the disconnect between leadership and the subscribers is clearly and loudly articulating what is being done and why. With so much to get done on the strategic roadmap, it is easy to overlook the importance of telling your customers what you are doing and then celebrating your success together when the objectives are met. Providing them with full transparency on how their input directly influences the strategic goals of the organization is key. Providing them with easy to understand updates about new training, technology or data programs will help them understand the tangible differences you are making to help them be more successful.
HOW THE CUSTOMER EXPERIENCE INDEX CAN HELP
The WAV Group Customer Experience Index was developed with these common issues in mind. First, by establishing industry-wide benchmarks across seven key performance indicators, MLSs can quickly and confidently identify the achievable targets of performance when they set their goals. The localized report helps MLSs identify gaps in things like technology adoption and training participation relative to other markets, and then set improvement goals with realistic numbers and the support of industry best practices.
Second, the Customer Experience Index has a built-in BEST MLS award system that helps MLSs validate their efforts and celebrate the great work being done in their local marketplace. These badges bring instant recognition and validation among your subscriber base. Also, by looking across many different markets, WAV Group has been able to use the cumulative data to see programs that are working to get this information out to busy agents and brokers.
If you would like to learn more about how the WAV Group Customer Experience Index can help you drive home the value of your organization, click here for more information.