How Community is driving digital transformation in the 5th fastest growing tech company in Asia-Pacific
Property Exchange Australia (PEXA) is a digital start-up, formed to fulfill a Council of Australian Governments initiative – the peak intergovernmental forum in Australia. Its mission is to modernize the $7.2 trillion residential property market, which is the nation’s largest asset and wealth contributor. PEXA is a national digital platform for completing online property transactions. Its customers include 115 financial institutions and 5,000+ legal and conveyancing firms. The organisation integrates with Australia’s Land Registries, which registers and secures ownership of Australian land; as well as the Revenue Offices in the various States, which collect taxes on land transactions.
Recognized in 2017 as the 5th fastest growing tech company in the Asia-Pacific region, PEXA alleviates the hassle and delay of arranging printed checks for property transactions by offering electronic processing of financial transactions via the Reserve Bank of Australia. It is possible for home sale funds to be banked in hours rather than days, and property taxes and utility payments are conveniently paid through PEXA.
PEXA customers annually transact 500,000 properties. Australian customers expect software, services, and products to be intuitive, requiring little to no training. PEXA, however, is a complex platform that requires training, time, and education. The industry has experienced minimal change in 150 years and PEXA customers are often geographically isolated with little access to peer support and face-to-face training on the PEXA process. Frustration and the challenges that come with digital transformation needed to be addressed to win the hearts of PEXA customers and drive digital adoption.
To fill the gap between customer expectations and reality, PEXA chose to create a Lithium-powered online customer community that includes easily accessible training modules, a help center, and crowd support. By providing insight and knowledge, being open and responsive to feedback, and empathetic to challenges of moving from paper to digital transactions, PEXA is building trust with customers and easing the complexity of digital transformation. Today, the community has 2,500 members who share knowledge, problem-solve, offer support, and access online training—significantly improving the customer experience. PEXA will soon enable single sign-on to its 20,000-strong user-base, to streamline the login experience for all its products and services.
Why were you seeking community as a solution?
Fear, uncertainty, doubt. Asking an entire industry to change practices ingrained through generations requires more than a great innovative product, it requires earning trust. Trust is earnt by providing insight and knowledge, but more importantly by being open and responsive to feedback. Being empathetic to the challenges presented by digital transformation and being willing to listen and offer support will ultimately build PEXA’s brand as an enabler of business change. To help achieve winning the hearts and minds of conveyancers, lawyers, and financial institutions PEXA launched an online community.
There is also the challenge of PEXA customers who are isolated to state or regional-based cohorts, limited by Australia's geographic boundaries. While the industry bodies and groups provide jurisdiction-specific guidance, they don’t enable broader connectivity or open sharing of experiences. PEXA was aware that many customers were already participating in conversations about PEXA on social platforms where they were not able to join and engage in the dialogue. The community provides a broader, more inclusive peer-to-peer network for all customers to participate in.
Why did you select Lithium?
PEXA selected to partner with Lithium as they are recognised as a global leader of community platforms. Other factors that influenced PEXA’s decision to select Lithium were customisable, in-house capabilities; connection to company executives, and heads of community within globally successful organisations at Lithium's annual global conference; as well as local support staff and access to best practice guidelines.
“The success of PEXA's community is to win the hearts and minds of PEXA members, and in turn earn the right to introduce future services and products within a market prime for digital disruption.”— Emily Billing, Community Manager, PEXA
What is your overall vision for the PEXA community, and how does it tie into your entire digital customer experience?
PEXA's community is a strategic service delivering unprecedented industry collaboration. It's more than call deflection. The e-Conveyancing Community aims to deepen connections with customers and their connections with each other. The community is vital to provide relevant training content, as is evident in our PEXA Certified Program – a four-module certification for PEXA members. With the increase of electronic property transactions, the e-Conveyancing Community is also developing into an important call deflection asset supporting the support team. The success of the community is about winning the hearts and minds of PEXA members, and in turn, earning the right to introduce future services and products within a market prime for digital disruption. PEXA is currently working on single sign-on to streamline the login experience for all its products and services with PEXA ONE. The e-Conveyancing Community is the first integration to enable this seamless digital experience for all 20,000+ PEXA users.
Tell us a story—e.g. why someone visited your community and what their experience was, a great super user story, etc.
Peter Mericka is a PEXA member who initially came to the community expressing frustration and dissatisfaction with his experiences in using the PEXA system. The community was the first time PEXA was easily able to listen and engage with members publicly. Through listening to Peter, and being able to have a conversation about challenges he and others were having, PEXA has gained valuable insight. Peter is now an enthusiastic advocate for PEXA, a regular contributor to community (loves the badges!) and recently attended a Member Open Day to meet the staff behind PEXA. Helen Eames was a PEXA member, and her active community contributions helped her be successful in a job application for a field-staff position with PEXA. And then there is Amy Gerraty – Amy is an employee with vast legal experience in property who’s now available as a PEXA subject matter expert. She’s also very competitive with badges and often seeks out how she can engage to ensure that she is #1 of all staff. These are just some of many stories!
What’s next for PEXA’s community?
PEXA members are eager for opportunities to discuss industry topics with peers, and want to connect with PEXA product teams and have a say in the future developments of the platform. It is also a vital resource for training material, and upskilling as the product develops. PEXA wants to ensure relevant training materials and information are surfaced at the right point in time within the PEXA platform itself. This includes customising a member’s journey based on where they are in the product learning phase, as well as providing information which is jurisdictional-relevant without them having to open a new window for the community. Access to contextual help content, and greater visibility of the community crown support forums will result in fewer calls to the Support Centre.
More Lithium Social Customer Service Success Stories
British GasSocial Customer Service
British Gas reduced their response times to 2.5 hours or less with Lithium Social… Read the case study
Deutsche TelekomSocial Customer Service
Deutsche Telekom achieves 40K monthly support responses with their Lithium-powered… Read the case study
MYOBSocial Customer Service
MYOB reduced response time from a few days down to a few hours with Lithium Response. Read the case study