It’s no secret that the real estate market has faced unique challenges in the past few years. High interest rates have seen mortgage rates reach 8%. Yet, continuing high demand has led to record-high home sales, requiring buyers to trust their realtors throughout the process.
PrimeStreet adopts a unique approach to real estate that pairs buyers and sellers without much of the hassle that has defined the industry. They convert leads into PrimeStreet Qualified referrals, transferring them directly to local real estate partners and building trust with home buyers and sellers.
Modern customer interaction is critical given the unique value proposition PrimeStreet offers — high-growth real estate matching.
Exploring the Benefits of AI for Response Rates
Like many organizations, PrimeStreet seeks innovations to improve response rates and customer experience. As an organization that pairs real estate buyers and sellers directly, based on buyers’ location and budget preferences, PrimeStreet improves response rate and can directly affect company performance.
For PrimeStreet, much of their customer connection, lead generation, and end sales are directly related to email marketing and SMS. They regularly run both nurture and re-engagement sequences, deepening relationships with existing contacts while introducing new potential customers into their pipeline. When PrimeStreet found an opportunity to diversify customer outreach through artificial intelligence, they didn’t hesitate to implement it.
In partnership with Terazo, PrimeStreet launched an AI-driven campaign that sent 6,000 AI-generated SMS messages to an estimated 5,000 inactive leads. The pivot from email nurture to AI-crafted SMS marketing was a resounding success: PrimeStreet doubled its re-engagement response rate, marking an exciting new chapter in direct customer outreach.
Not only were response rates stronger with the AI-crafted SMS messages, but the solution only required time from call center agents once a lead was re-qualified. This led to cost savings and higher win rates once an agent connected with the prospects. The solution, leveraging Open AI’s GPT-4, enabled PrimeStreet to seek more revenue with fewer employees.
Finding the Right AI Integrations with Twilio Flex
In December 2023, Terazo — a digital engineering consultancy and top Twilio integration partner— conducted an AI workshop with PrimeStreet. We helped them identify strategies for implementing AI into the organization’s re-engagement campaigns. Terazo had already migrated PrimeStreet from a legacy call center solution to Twilio Flex, a cloud-based solution that helps companies streamline multi-channel customer communications. So, with a deep understanding of PrimeStreet’s architecture, we could focus on more advanced technologies to further the positive impact of Twilio Flex through AI.
Our engineering team proposed several time-saving AI solutions during the AI workshop. After evaluating all the options, PrimeStreet decided on a hybrid AI model with a streamlined, multi-step process:
- Extract valuable information from prospect conversions in Flex and traditional communication channels.
- Mine those conversations for insights that make future consumer interactions even more effective. Identify potential reasons customers disengaged from conversations with PrimeStreet agents.
- Isolate customer segments based on these reasons to overcome objections
- Leverage multi-agentive AI to generate customized and compliant messages to re-engage customers.
- Once prospects re-engaged, they were routed back into Twilio Flex for a direct response from a call center agent.
Terazo fully implemented this solution by the end of January 2024, just in time for the year’s busy real estate season. The deployment was completed in six short weeks, and the results were immediately worth the investment.
Earn the Outcomes Your Organization Deserves
PrimeStreet’s dramatic success with AI started with a simple Unlocking AI Workshop with Terazo. For a limited time, Terazo is offering its Unlocking AI Workshop risk-free!
Terazo’s AI Workshop delivers the following:
- An immersive Workshop Session exploring user experiences and processes that can create value with integrated AI and Twilio Products (Flex, SMS, etc.)
- Prioritization exercises such as User Journey Mapping and 9-Box will be used to determine the most likely combination of lowest risk and highest impact/ROI for an initial AI solution.
- A shared vision among client stakeholders on the required user experience and supporting internal processes to support the AI solution.
- A leadership readout session to address any questions and define the path forward for solution architecture and feature development.
Schedule your no-risk consultation with the Terazo engineering team today to determine how your organization can use AI for customer outreach.
