Howard Morgan and co-author Thomas Wiegelman have called on the real estate industry to follow a six-point plan to foster customer loyalty.
They argue that only by taking more interest in their occupiers’ businesses can property companies become more robust and insulated from rapidly changing market conditions.
Failing to treat tenants as customers and a reluctance to shift to a hospitality mindset will leave landlords with empty buildings and a plummeting reputation
IPE Magazine, December 2022
Their six points are as follows:
- Real estate companies must have a defined customer experience strategy
- They must use customer insight to develop new products and spaces
- Their people must have a customer experience mindset – galvanised through education and training
- Their service partners must also share this customer-first approach
- The use of customer journey mapping techniques will aid the development of operational excellence
- Performance metrics are vital: the industry is at last adopting the Net Promoter Score
Also key to their thinking is that in-depth understanding of their customers’ business models, their success factors and their intended use of a building has become critical.
“Each property should be managed as an independent business, to ensure longer-term income and value creation, to limit emissions and waste and to prevent obsolescence,” they write.
The full article is available from IPE Magazine here.
If you would like to speak to Howard about any of the points above, please contact him at Howard.Morgan@real-service.co.uk.
