What business is CRE really in?
Let’s agree that this is the time to draw a line in the sand between what was, and what is now.
Pre-Covid, CRE owners and operators were beginning to realize that they were not just in the business of owning and managing buildings. They were actually in the people business: creating places for people to live, work or visit. If that is true, then people are really what matter most. Among other things, Covid has accelerated the need to put people at the center of everything. This will not change going forward.
So what does that really mean for CRE?
It means that CRE owners and operators need to fully embrace this new reality, and look at what they offer through the lens of understanding what their customers really want and need. Historically, their customer was essentially the key decision maker for the individual company choosing to occupy space in their building. That view is now too narrow. As companies continue to respond and change according to the needs of their employees, so too must building operators dedicate themselves to better understanding the needs of every single person who enters their building.
Office space is simply a commodity. Experience continues to be the real differentiator in CRE, and creates the opportunity to develop a unique sales proposition (USP) for your building, portfolio or company, in order to attract and retain the best tenants.
Consider the following 5 themes as ‘must-haves’ for creating the best possible tenant experience in your buildings:
Managing
Making people’s lives easier and better where they live, work or visit requires paying attention to the operations of your building. How buildings are managed, and in turn, how people can manage themselves, provides many touchpoints for delivering the best tenant experience.
Technology-enabled buildings facilitate operational efficiency for the property management team, while automating many everyday tasks that tenants may encounter. Creating a frictionless experience, integrating all of your customer facing technology solutions into a single platform, will seamlessly connect users to everything that a building and its neighborhood has to offer.
Now is the time to operate with complete transparency, giving your tenants access to the information, systems and procedures they will value most as companies in your building develop their strategies to engage their workforce in 2021. From occupancy information to elevator access, from building security to visitor management, from cleaning protocols to delivery tracking, put your tenants at the center of your planning, and keep them engaged every step of the way.
Learning
People want to know more about their building and neighborhood; keeping abreast of how things work, what’s new and what’s going on.
The reality is that people come and go from building to building, and you cannot assume that everyone is familiar with all that is available in your building and community. Sharing tips, FAQs, and ‘Did You Know’ facts, is a great way to keep your tenants informed and engaged. Examples might include emergency guidelines, fire prevention suggestions, recycling procedures, important phone contact info, amenity reservations, links to local community organizations, and more.
Learning goes both ways. Feedback from your tenants is essential to demonstrate that you are creating a caring and listening environment, and to gain insights that can impact the operation of your building. Engage with your tenants to better understand their needs and wants. People like to know that their feedback is being heard, and impacting changes for the better, so be sure to share the learning and how it has informed new thinking or initiatives.
Programming
Buildings are not just a place where you work or live. Since we spend the majority of our time in buildings, they represent an integral part of our lives. More and more, people are making choices of where to work or live based on factors that go well beyond just the physical space. Programming and content have evolved to become essential offerings that help to define a superior tenant experience.
Whether in person or virtually, efforts to create community will help to keep your tenants connected, engaged, and most importantly, loyal. Here are a few examples of how to create a strong community: offer wellness programs, host a lunch and learn, share content from local businesses and community partners, aggregate access to real-time news, weather and transit information, or share details that support important causes like blood drives or fundraising events.
Connecting
While the debate about remote work and the requirement to work at an office rages on, we can all agree that the need for connection and community has grown exponentially.
Two-way communication between the building and its tenants is now table stakes. There is nothing worse, or more frustrating than not knowing who to talk to, or how to connect with important resources that are essential to how you interact with your building. Eliminate the mystery of who to communicate with and make it easy to connect.
As well, allowing your tenants to connect with each other to form interest groups, identify networking opportunities, find car pooling partners, and build relationships, actually strengthens their relationship to the building.
Rewarding
Incentivizing and showing appreciation can help drive the right interactions with your tenants. Who doesn’t love to be recognized or rewarded for their loyalty and engagement?
Use local businesses in and around your building to provide exclusive offers and promotions that your tenants will appreciate. Connecting your tenants to retailers, services, and food and beverage providers will certainly enhance the customer experience you offer, especially if they offer online ordering, payment and delivery capabilities.
Your tenant appreciation program will need to offer both in-person and virtual events, contests, and promotions to reflect a workplace where people are potentially working from anywhere.
There is no doubt that CRE will continue to provide what is most essential to building successful businesses, and a place where people can come together to do incredible things. Property owners and operators that keep people at the center of everything they do, will have a competitive advantage and continue to win the tenant experience battle.
