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RealService is excited to launch the first of our new online training programmes starting with Financial Skills for Property Managers.

This easy to understand course helps explain financial information specifically for property professionals without financial training, giving you greater confidence when discussing financial matters.

This fundamental knowledge will help you feel more confident when dealing with businesses that are struggling, be more in control of situations when presented with financial documents and be able to present a better business case to your management and colleagues.

The course is being delivered by our highly experienced financial training facilitators; David Levenson and Joel Featherman; over four 2.5 hour sessions you will learn to decipher the confusing world of financial terminology with clear and simple explanations of the fundamentals including how to read and interpret profit and loss accounts, balance sheets and use financial ratios to assess the health of a business.

Further information about the programme and to register for the course is available at course details

** Early-bird rates available now! **

 

There’s a joke about outrunning a bear that Benedict Cumberbatch (as Alan Turing) tells in “The Imitation Game”:

There are two people in a wood, and they run into a bear. The first person gets down on his knees to pray; the second person starts lacing up his boots. The first person asks the second person, “My dear friend, what are you doing? You can’t outrun a bear.” To which the second person responds, “I don’t have to. I only have to outrun you.”

In the first blog in this series I looked at the ‘Stages of Change’ model and our reaction to change, which our body perceives as a threat.

This blog looks at whether, faced with the Covid-19 crisis, it’s better for the property industry to pray or lace up its boots!

From bricks and mortar to hospitality

It’s more than 25 years since I returned from the USA with a vision for our industry founded on the principle that we are “no longer in bricks and mortar business but part of the hospitality industry”. An industry inspired by the best hotels, seeing our tenants as guests rather than an anonymous income stream. It’s seems common sense now but it was close to heresy back then!

Some in our industry saw this idea as a ‘scary bear’, and prayed it would go away. Fortunately, others ‘laced up their boots’ and they’ve become our clients and friends.

Last week Property Week launched a campaign to “Save the Office!” encouraging the industry to lead from the front on the return to the office. Of course, it’s sensible to ‘underline why workplaces are so important and showcase best practice so employers can help their people return to the office confident that the appropriate Covid-19 safeguards are in place’. But I can’t help feeling that if this campaign is to be successful it needs to look beyond saving “bricks and mortar” and at “saving our customers”. Let me explain.

Offices will be saved not because developers like to build them, investors to own them and corporate leaders to enjoy their corner offices, but because people choose to work in them. Employees of the past had no choice where they worked but that’s different now. Covid-19 has broken the dam and given employees the taste for a different workstyle. The rows of empty desks in our cities and business parks are the strongest reminder that it’s employees who are our ultimate customer.

The latest data from Leesman doesn’t give much comfort to the “pray’ers”. 82% of 127,000 employees surveyed agreed with the statement that “my home environment enables me to work productively”. That is 19% points higher than the 63% of employees who say they have a productive workplace.

Insight

At RealService, we believe that the future of the office industry lies in getting in-depth insights into what motivates both the 82% “productive at home’rs”, and the 18% who looking for a different solution.

But if only it were that simple! There are a lot more than two types of customer, and the task of creating a new vision for the future workplace requires a granular understanding of the needs of the close to the 30 million people who form the UK working population. You can then scale that up to include the 1.25 billion knowledge workers across the world (source: Forrester).

We can learn lessons from the hospitality industry (itself decimated by Covid-19) where the focus is on asking “what is the experience that our customers want?”. For the property industry, this means applying the tools and techniques of service design to our existing assets and future developments. The starting point for our asset management or development plans should be “who is our customer and what are there practical and emotional needs?” and not “how much space can we get on the site”.

Likewise, our customer retention strategies need to step out of the world of spreadsheets and into the world of loyalty and brand building.

At RealService we believe that the successful development, asset and property management strategies of the future will be shaped by standing in the customer’s shoes. It’s only by truly aligning ourselves with the ultimate customer, that we’ll be able to outrun the Covid-19 bear.

So, we’re campaigning to “Save our Customers” and their businesses, and hope you’ll join us!

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Howard Morgan is the founder and MD of RealService

If you’d like to understand ways that RealService customer research, consulting and training is helping our clients to get ahead in the Covid-19 era please contact

Howard Morgan howard.morgan@real-service.co.uk

 

www.real-service.co.uk

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

There is no argument that providing a better customer experience leads to better returns.

Research done by PwC in 2017 (Ingredients for Great Experiences) found companies that make experience a priority can charge a premium of up to 16 percent for their products and services.

And, Dr Danielle Sanderson’s PhD thesis, based on thousands of interviews conducted by RealService, revealed a total return increase of 1.9% “loyalty bonus” for property companies who could improve their customer satisfaction ratings by one level on a five-point scale.

However, the next big question for those in the property industry who are spending money on customer experience is in which areas is it best to invest, which areas will net the best returns on that investment – and how do we measure those returns, the ROX, the return on experience.

RealService, partnered by GRESB, the global benchmarking organisation, will be discussing Measuring ROX, the next Holy Grail, at a seminar hosted by The Crown Estate, in London on November 7.

We will have speakers representing the owner/investors, the developers and the operators – and a panel of customers who will kickstart the deliberations around how to create a reliable metric which tracks the results of your investments in customer and employee experiences — and how to implement it.

We will also be presenting the developing research which is being undertaken by networking community Experience Makers, of which RealService is a founder partner.

You can find out more about the programme – and sign up for the free event [button link=”https://www.eventbrite.com/e/return-on-experience-in-search-of-the-holy-grail-tickets-74103909789″ newwindow=”yes”] HERE[/button]

RealService is a GRESB partner and this is our fourth annual Customer Experience seminar.