60% More Engagement With Hyper-Personalization for a US Proptech
Project overview
Newzip, a real estate-as-a-service platform, decided to make the most of AI and hyper-personalization. We came together with the client to validate a hypothesis that more personalized experiences would increase engagement. With an AI PoC, we did just that.
Services
Year
They needed an AI PoC within 8 weeks to test a hypothesis they had on hyper-localizing real estate content to increase customer engagement. This is how it went.
Client
Newzip is a real estate-as-a-service platform that enables mortgage lenders to vertically integrate real estate services in order to centralize the transaction and lower transactional costs while driving lead engagement and conversion.
Home buyers often work with loan officers and real estate agents separately, resulting in a disjointed experience. Newzip is changing this by fostering cohesion and collaboration between mortgage lenders and top real estate agents nationwide to elevate the customer experience.
Their platform facilitates partnerships that offer clients a comprehensive concierge real estate service, while simultaneously simplifying the entire process.
Project
The project Newzip had in mind aimed to enhance the user experience by introducing deeper personalization in interactions. While their former solution effectively served a broad range of users, there was an opportunity to elevate satisfaction and engagement through hyper-personalization.
They needed an AI PoC to be created to not only digitize the whole house buying process, but also to further refine the matchmaking process for agents and home buyers, as well as streamline communications for lenders.
In order to do so, we needed to develop a prototype web application comprising three modules: a database system for customer data storage, operator views for personalized content generation, and a landing page for displaying tailored information.
With the completion of this application Newzip would be able to increase their conversion rate and strengthen platform loyalty.
Tasks
Newzip turned to Netguru for support in completing several tasks:
- providing solutions for clients based on their personal financial situation,
- offering local insights important to users about desired house locations,
- and developing an AI PoC within the stipulated budget and timeline.
KPIs
The project team had to follow several KPIs, including:
- AI proof of concept (PoC) had to be completed within 4 to 6 weeks,
- hypothesis validation: ‘more personalized experience increases engagement’,
- maintaining high client satisfaction through feedback.
Project journey
- Scoping the PoC for precise technical requirements
- Conducting research and selecting an appropriate model
- Prototyping content using GenAI
- Developing, testing, and connecting the AI system to customer data
- Creating an API interface for seamless integration
- Designing a prototype website linked with the AI model
- Providing ongoing support for integration with the client's platform
Challenges
The team had to promptly solve a few stumbling blocks along the way, and within the short timeline.
- Ensuring reliability of outcome documentation sources
- Overcoming hurdles in data extraction and interpretation
- Addressing client-specific issues during implementation
Results
The hypothesis was successfully validated.
- NewZip gained a 60% increase in engagement.
- The platform saw a 10% increase in conversions.
- The model provided was fully customized, personalized, and available nationwide.
- POC was ready to operate for more than 10k users and create hyper-personalized insights for each of them.
