Customer Engagement Strategy for Pros - HomeZada

Hello and thank you for joining us. Today we're going to talk about digital home management for consumers and a customer engagement platform for partner companies working with HomeZada. HomeZada has 2 sides to the platform. For homeowners, it is a complete digital home management platform to manage their largest financial asset and biggest ongoing expense— their home. For partner companies, it is a customer engagement solution that engages homeowners Improves brand, and encourages homeowner retention with an opportunity to secure referrals and/or repeat business. Homeowners live in a constant homeowner journey. People go through the journey of buying the home, then living and owning in the home, and selling a home on average every 7 years. After buying a home and moving in, most homeowners fall into the money pit of managing Their home— they get unexpected repair costs and high utility costs due to lack of preventative maintenance. Many are underinsured because they don't have a home inventory and are not prepared with documentation to file a claim after disaster strikes. And most home remodel projects end up being way over budget, with potentially a bad relationship built with a contractor. Homeowners also lack financial visibility into the total cost of homeownership? Do they understand what their estimated home equity is or their forecasted value of their home? When you ask people where's the information about their home, most homeowners would say it is scattered everywhere, primarily in paper documents and incomplete throughout their home. HomeZada is a digital home management platform for homeowners to manage all the information about their home in one place. Think of it like a personal finance suite of apps to manage all the financial aspects of a home. Consumers can create a private and secure account and get a great user experience on any device because HomeZada's user interface is the same on any device, including mobile, tablet, or desktop. All of the homeowner's information is stored in HomeZada in a safe and secure cloud-based environment. HomeZada provides homeowners a dashboard that provides ongoing personal recommendations about how to manage their home. It provides a home inventory app that itemizes everything in the home with photos and video recognition AI to make sure you are properly insured and prepared. A home maintenance schedule with over 40 recurring tasks is created for you to make sure your home is operating efficiently. Over 60 templates of common home remodel projects Guide you through managing budgets, costs, receipts, warranties, and before and after photos. The Finance app updates you on the estimated value of your home, provides a 3-year forecasted value, does a basic mortgage calculation to ultimately show you how— you, your home, how much equity you have. You can also manage a total home budget that includes utilities, basic services, property taxes, and insurance. And if you decide to sell the home, you can share a digital history of the home, like an online brochure, to help differentiate your home from competing homes for sale. And you can do this with your real estate agent. Homesatta has proven the platform as a mainstream product with users in all 50 states that represent every generation of homeowners, including millennials, Gen Xers, baby boomers, and seniors. These users are highly engaged in using the platform on a monthly basis to help them make smarter decisions about how to manage maintain, improve, and protect their home. Now, HOMZADA partner companies can provide a premium branded version of HOMZADA to their clients. HOMZADA becomes a value-added app that helps our partner companies go beyond the initial transaction of securing either a loan, a policy, or selling a home to help customers actually manage the largest asset and biggest expense. The brand is displayed at every login, on any device and a few times a month in automated emails that engage homeowners. This provides tremendous opportunity as the partner company is now present during the entire journey of homeownership. So let's get back to the demo and I'll show you a little bit about how HomeZada can work for you. As you can see here, I've already logged into HomeZada from the HomeZada website at www.com/homezada. www.homezada.com. And the first thing you will see is the main dashboard. The main dashboard has all of the different apps that we have inside the system. You can access it via these icons, or you can access it via dropdown. We take into account various user experiences, and that's why user experience is extremely important to us. You can also see on the far right-hand side the different information and tips that we have within HomeZada to help homeowners make the best decision and also to use HomeZada. In the center is our dashboard or our newsfeed, and this newsfeed provides recommendations and actions that are forthcoming to homeowners. So these reminders we see here are based on maintenance. As you continue to move down the, the dashboard, you will also see projects, financial information, and so on. We want to make sure that we are constantly providing value to our users by bringing forth The reminders and recommendations to help making managing a home more effective. When we go into the details, this is information about the basics of the home. The property name, which can be changed. The address. The description of the house. Property statistics like date built and square footage. Property details and location details. If homeowners enter in Their address, then information will be pulled forward by our third-party partner, House Canary, to provide us a lot of these statistics. You will see throughout the system that there are unlimited photos and unlimited documents that can be stored. I highly recommend storing as many documents as possible to become more efficient in managing your home. This also reduces the paper clutter that sits around your house. Let's dive into inventory. As we move into inventory, several things occur. Once we know the number of bedrooms and the number of bathrooms and the type of home you have, we will present and bring forward the generic spaces and the generic items found in those spaces to make taking a home inventory much more effective and easier. As you can see here, this teal-colored background of this office is an example of a generic space that has been added and no photo has been added to it yet. Additionally, homeowners can actually add additional spaces on the fly by clicking on this button. As we drill into one of the spaces, for instance the family room, you can see here that once again you can change the names, you can create locations and dimensions, You can also add paint colors. Dimensions are really good for those people who are looking to buy furniture and may want to fit furniture within spaces and they're not quite sure. It's also good to have paints because those touch-ups become very easy. As I also said, the generic items will be brought forward as well into each space. When homeowners want to add additional items, they can do it by simply clicking here, and as you can see, These sports memorabilia items have been added to the system, but a photo has not yet taken. These other areas, photos have been taken. Let's drill into the television. A television has a lot of details. And what we mean by that is not only does it have an item name and the type of item that it is, but it also can fall into a category. Everything can fall into a category. Categories can also be added on the fly. A value amount can be assigned. Values come from those customers who enter in values from receipts, estimates based on their, their knowledge, or appraisals that they've taken throughout the years. You can track the brand, you can track the purchase information— date, location from— and then units as well. So if you have 12 dining room chairs per unit, you can put a unit price. We also track brand details like model number, serial number, etc. And then there's general notes that can be added. As part of our constant listening to our customers, we were encouraged to add estate planning details. To whom or what institution would you like to leave this item, and then for what purposes? This is where you can actually print information, assign information to— excuse me, assign items to your users, to your network. And also make sure that you can submit a PDF from within HomeZada to your estate planning attorney, and then they can include it into your documentation to legalize it. Once again, there's photos and documents. In this case, you can also see not only documents, but you can see links for the system. Additionally, we have video recognition that we have in the system. And as you can see, this video was taken of this particular room and AI recognition has been run to identify items that exist in the room. There's high confidence level items as well as medium confidence level items. If there's something missing, then it can simply be added. Inventory items can also be seen in a list view as well as the tile view that I just showed you. You can also add videos and tag additional photos. So if you have not added, if you have not tagged all of your photos, the system will still store them so you can use them at a later date. Additionally, you can print an inventory PDF, both an estate planning PDF as well as a standard inventory PDF. The standard inventory PDF can be submitted to your insurance company for additional coverage to make sure you are absolutely and firmly covered, because most homeowners are not. You can also export an inventory spreadsheet and— to be supplied to either an insurance company or some other individual that you feel may need to see this information. Let's move into maintenance. In maintenance, as I indicated earlier, there are 40 different maintenance tasks that are pre-populated into the calendar. As you can see here, we have color-coded maintenance tasks: blue for maintenance, orange for repair, green for landscaping, and yellow for cleaning, and a variety of other colors as well. You can see in the calendar you can simply Move, drag and drop them so that they can be modified, or you can actually access the task directly from within the system and understand what details you need to take care of. You can see here that the name of the task, the due date, the type of task, who is responsible. This can be anyone in your community, your network. You may have contractors, you may have family members, whomever you choose to add. You can identify whether it's been completed or not, and then also estimate cost and actual cost. However you see fit. Some tasks require time, some tasks require cost. You will also see in all of our maintenance tasks that we provide how-to instructions on how to actually tackle this maintenance task. We have this in written form and curated videos that we've pulled forward. You can also see the maintenance task in a list form, and you will always see overdue tasks first. And then next and upcoming tasks after that. And then you will see these individual tasks. However, you can also assign recurring tasks roles. For instance, an air filter should be changed 3 to 4 times a year. You can set up the schedule to actually manage 3 to 4 times a year and also include your air filter sizes. If you have a new task that you'd like to add, you can simply click on this button and add it. You can also print these, these tasks so that you can use a printed version to manage all the tasks inside your home. HomeZada also has additional 150 recommendations that you can choose from to add to your calendar. It's simple as clicking on this button and walking through the process. You can also filter those tasks when you are searching for the recommendations. You can also see completed tasks, which is very important because as you see completed tasks, you will also see actual cost. So you can manage your costs year over year. Let's go into projects so we can show you a bit of projects. So like the maintenance task, there are 60 Common projects in the United States that allow you to start with a template. You can search on those, but more importantly, once you click on that template, we believe that adding certain aspects to help the homeowner manage their project is what's most important. The first thing that we provide is what type of budget are you considering? Is it a high, medium, or low budget? Are you actually tracking all the items? In the, the project. Do you know what items need to be considered? For instance, this is a perfect project. Drainage material is needed on many areas where there isn't a lot of rain in the summertime. Other areas in the country do not need drainage material, but it's simple to delete these items. It's very difficult to replace them once you've started your project, and it becomes very expensive. As you can see here, we also have information on how to conduct these backyard landscaping and/or other projects. And if you feel like you do not have the skill or the time, this is the time to understand maybe to hire it out to someone else. But I'm gonna show you what a real project looks like that has been completed inside the system. So we have projects and we track them in 3 stages: wishlist, In progress, and completed. Let's jump into this completed project on the kitchen remodel. So as you can see, there's project name, there's type, there's a quick estimate, and that quick, quick estimate is also reflected here. Additionally, there was a project budget that was assigned by the user. As you can see, that's very much over budget compared to the $35,000 that they initially set aside. And this is how Project budgets can get out of control if people are not managing them properly. In the end, the project was still a little over budget, but it wasn't quite at the $59,000 range. It was closer to $41,000, something that the user felt that they could actually manage. How did we get to those, those numbers? Well, as it turns out, when I told you we placed all these items in the system, which we do, the homeowner started creating their own budget. They may have worked with this with their contractor or they may have done it themselves. They then start making purchases of items and those purchase prices go into the system as well. Here is where the grand total of those items happened and they had to course correct and why it's also important to budget prior to starting a project. This way they were able to course correct and actually make lower and reduce their costs in some areas. So their cabinets came down, however, their countertops were a little bit more, but it gave them the ability to manage those expectations, they were also able to get their labor down significantly, which reduced this spend, and they could actually manage a $41,000 budget versus a $59,000 budget. The other thing that we provide, as I indicated, 3 key things. The 3rd and final thing is these actions, actions to tackle the task. We provide actions both with DIY and also for contractor-led projects. Very important. Again, photos throughout the system, as you can see, before and after photos. Documents, also very imperative to understand. Do you have your permits? Have you got a design? Do you have drawings? And etc. And this way you can also track all of this information so that if you ever are in a position to sell your house, the new homeowner has this data so they can manage the projects effectively. So as you can see, that's Projects. Let's jump into Finances. I'm going to start at Household Expenses. So Household Expenses are the annual expenses you pay for a variety of items. It could be service providers that you work with. It could be your mortgage, your insurance, your property tax, your utilities, etc. You want to put that in the system and to track it. Homeowners do this themselves, and as you can see, the total cost of managing this home from standard household expenses is $45,000+ a year. The next thing I'm going to show you is insurance. We talked about being fully covered and accurately covered. If the homeowner has added the possessions' values to their HomeZada system, then that information will be— Full coverage. Pulled forward here. When the homeowner decides to enter in their insurance information, as you can see here, there's a carrier, there's a policy number, policy end date, start date, the cost of it, how often it's paid, but there's also policy coverages. Those policy coverages are then reflected here. Because we have the policy coverages and because we have the possessions value, we can determine that this homeowner is underinsured. So it sparks the discussion between the homeowner and the insurance company or agent to determine how to actually solve that. Additionally, because we also know that some scheduled property requires additional insurance or different types of insurance, we pull forward key phrases within the inventory to reflect which, which items may need additional coverage, also sparking an intelligent conversation with the insurance provider. Once again, you can track all of your documents. I highly recommend tracking your insurance documents here, and that way there's more efficiency in managing your entire home in one simple system. Let's go into mortgage now. So we're fortunate to work with a third-party organization called House Canary. I introduced them in the beginning. As you can see here, House Canary brings forward public data. That allows us to understand who the mortgage carrier is, who is— what is the loan, what type of loan is it, what is the principal value, what is the interest rate. If any of these details are incorrect, they can simply be changed. You can also check that there's this amortization schedule because we have the data about the loan, and then you can determine when this loan will be paid off. In this case, the loan will be paid off in February of 2041. Once again, you can track second loans and you can track mortgage documents as well. This is also a valuable solution for mortgage individuals or insurance organizations to add their data into the system before providing it to their customers. It's a great value add and it's really efficient and helps the homeowner understand how to better take care of their home. Now it's time to go into property values. We told you we know what the household expenses are and the insurance and the mortgage. We use similar data from House Canary to understand what the estimated home value is, what the purchase price was, what the appraisal value was, what the original listing price was, and then also the dates at which those items were secured. The other thing that we start looking at is the tax details, so we can also understand the tax details as well as the payment structure for the loans. And because we know this, and because we also get a 36-month Forecasted value, we can then understand what the home equity is inside this particular property based on the mortgage and the estimated values. This is extremely important because most homeowners may need to use this equity to have repair projects or update their property, or even use the equity for education and/or healthcare. The last feature I want to show you before we get into reports is a little bit about how you market your home. Homeowners have the ability, once they've added all this information, it's extremely valuable. If they look at a variety of this, a variety of different features within HomeZada, and they take a look at this wizard, they can identify which information to bring forward to a public site. So for instance, these fixed assets versus a possession will want to be on a public site. Possessions, we want to keep them safe and secure. But you can also highlight projects, maintenance tasks, and other types of documents that differentiate a home to make it sell more valuable and appear more valuable to the other homeowner. And let's face it, a well-maintained home is actually a more valuable home than most homes. And because of the details, the homeowner can do this with their agent. So they can publish unlimited photos and information about their home in a public site and then take this information and transfer it to the new homeowner and the buyer of the home so they can continue to manage the home with the maintenance and the projects and the fixed asset details. Now, as I indicated earlier, I wanted to tell you a little bit about reports. HomeZada is a place where we believe in good data and provides really responsible and good data to a homeowner so they can make the best decisions, not only for their home but also for their overall life. As you can see here, we have inventory by space, the dollar amounts, and the number of items. And as you can see, this particular homeowner has $275,000 plus and content values. It's really important to make sure that those content values are properly insured. And you can do this via category or space. Some people may feel that their categories are more important because they have high valuables that they need to track. Maintenance. This is a feature that I find very valuable because I have the ability now with Helmzada to track my maintenance cost year over year. And this is important. You may have higher maintenance costs in one year but not in another, but it gives you the ability to plan for that accordingly. Projects. We gave you some information about projects in their entirety and budgeting because those projects do require a lot of budget, but also understanding the projects in their stages. How much are you going to spend over time? And then finally, finances. Finances in and of themselves Have a lot of value. However, when you can track your mortgage schedule on your monthly cash flow, that's one thing. When you understand a mini balance sheet about your own home, that becomes extremely valuable. You now understand your home expenses in their entirety, which include household expenses, maintenance, and completed projects for that particular year. But you can also understand your assets and your liabilities. What are your possession values, which many people forget? What's your estimated home equity? What is your mortgage balance and your second mortgage balance? And then what is your total assets that you have? So it's very important to understand that. Let's go back to the presentation so that I can finish this up and provide you the value you need. As it relates to homeowners, there's a lot of value propositions that Homesada provides them. First of all, as we talked about earlier, being properly insured is important for those what-if situations. Making sure you maintain your home actually creates not only an efficient home, but a healthy and a safe home. And a healthy and a safe home and an efficient home actually saves you money in the long run. Managing your finances allows you not only to manage your overall household expenses, but it ties into your overall Life expenses. What does that mean? Can you afford to take a vacation because this project can be put on hold? Talk about projects. We can manage projects on time and on plan and on budget, and also have information about those projects for tax and resale purposes. An organized home is better organized time. It also eliminates the clutter around the home and reduces the stress of a homeowner. When you're ready to sell your home, you can differentiate your home and also have digital records of the home to provide the new buyer. All of this is extremely valuable for the homeowner, but also the ongoing homeowners that are gonna take part in managing that home. As it relates to our partner companies, there's several value propositions. Some of these may be more important than others depending on the goals of your company, but here's a quick overview. Humzata helps companies who want to improve their mindshare with consumers away from a commodity product and evolve to a more trusted advisor position and a rich and deeper relationship with their customer. After the initial transaction of either securing a loan, selling a house, or securing a policy, Humzata helps customers Companies like our partner companies improve their brand value and do it in a way that provides value back to the customer. This leads to more customer loyalty with increases in renewal and referral opportunities. In addition, customer acquisition costs for new products and services with new customers is very expensive. Humzada can can help increase business from existing customers at a much lower customer acquisition cost, with the ability to cross-sell additional products and services after the initial transaction. And some companies we are working with are considering using HomeZada's platform to incorporate with new opportunities to be more competitive. I hope this gives you a quick summary of how HomeZada helps the consumer manage their largest financial asset, while also providing partner companies the ability ability to engage their customers in a value-added approach. Thank you, and please contact us. Here is the information for our co-founder, Elizabeth Dodson, who manages all of our partners. Feel free to reach out to her, and she will be sure to get back with you. If you do have any questions, she's the point of contact as well. Thank you very much for spending time with us, and we hope this presentation and demo was valuable to you. Thank you.