In business, you never want to be the second-fastest company to read the market. The spoils go to the visionary who better anticipates the future because they truly understand their industry and customer base. We live in a world dominated by digital technology, so, unsurprisingly, it’s impossible to understand current consumer needs or where markets are going without some fundamental digital literacy.
Let’s examine the tech platform Nobul created by disruptor Regan McGee as a case study to reinforce the importance of understanding the technology we all rely on.
Algorithm Works for You
Many people wonder exactly how an algorithm is created, but a better question may be who it’s designed to work for. In Regan McGee’s case, he created Nobul to even the playing field between real estate agents on one side and buyers and sellers on the other.
Now, when people share with the platform their budget and what they’re looking for in a home, they’ll receive multiple listings that seem curated because of the degree to which they meet the specifications. On a basic level, digital literacy is all about not just meeting but exceeding customer demands.
In fact, real estate agents in Nobul compete with each other to get business from buyers, and the incentives are substantial. Prospective homebuyers can get additional services or even cashback, which they’ll likely appreciate given where markets are at currently.
Privacy and Security Matter
People love personalization when they shop online or through apps, but not at the expense of their privacy or security. Businesses today need to prioritize safeguarding user privacy above all.
The perception that you’re taking security shortcuts with user data or even selling private information to third-party marketing firms can be a company’s financial and reputational undoing. Sometimes, shady entities committing illegal practices trick companies into obtaining user data by pretending to be legal authorities.
Whatever digital sales tricks you use mustn’t rely on violating user data, or there’s a fundamental problem with your model. Indeed, Nobul never shares contact information with its platform’s agents, so user data can’t get compromised.
The World isn’t Changing Back
Once the digital genie is out of the bottle, it can’t get stuffed back in. The world isn’t going to be pre-digital ever again. Skeptics may say that there’s nothing inherently digital about a property. Real estate predates smartphones by many centuries!
However, the real estate industry has already been permanently disrupted, and buyers, sellers, and agents aren’t going back. The odds are high that whatever industry you’re in, a large and growing component is now digital. If it isn’t, it will be soon, and you should probably beat your competitors on this front before it’s too late.
For businesses, the alternative to digital literacy is digital illiteracy. Business isn’t winding back the clock any time soon, returning to the period before e-commerce existed. Whether your company focuses on goods, services, or something else, digital literacy is a fundamental skill that success in the future requires.
Also read: Remote Work and The Future of Real Estate: Trends, Insights and Strategies
