Engagement PropTech is the new game-changer in real estate

In the final addition of Locale’s MIPIM blog series, Dan O’Gorman, Chief Product Officer at Locale, drives home how engagement focussed technology is key to happy, satisfied occupiers.

Today’s occupiers are accustomed to digital platforms and personalised, on-demand services. From mobile apps and machine learning to IOT, digital transformation has revolutionised practically every business and industry, providing the customer with more control than ever.

First operations, now engagement 

For real estate owners and operators, this means offering a simple space is no longer sufficient. They must sell an experience. Proptech, which was once synonymous with purely operational efficiencies, now envelopes the entire experience of all those who share buildings. Property management must put the customer at the forefront and create spaces that focus on connectivity, collaboration, wellness, and community. With the number of customer touchpoints exploding exponentially for managers, Proptech offers a way of facilitating meaningful, personalised touchpoints at scale.

A customer service approach
According to a report on Occupier Satisfaction and its Impact on Investment Returns from UK Commercial Real Estate, “there is a positive relationship between occupier satisfaction and investment performance, giving some support for the premise that treating tenants as valued customers results in superior returns for their owners.” Properties must essentially become a beacon of customer service, capturing the attention of occupiers through curated experiences, accessible amenities, unrivalled building knowledge, and instigating a service-driven mentality for staff to maintain this high level of occupier satisfaction.

Game-changing PropTech
To achieve that ultimate occupier experience, real estate must pursue products and services that are both functional and experiential. The industry is adopting techniques such as user journey mapping, more commonly used in the technology sector, to create intentional, delightful experiences. Customer feedback and behavioural data is key to understanding how strategies are working in practice, enabling managers to adapt and drive success. At Locale we’re empowering property management teams with the ability to capture direct occupier feedback via Polls across multiple digital channels. The multiple-choice questions can be used to elicit responses on anything from customer satisfaction, feedback on building management, community engagement, and events. Powerful analytics give insight into sentiment with breakdowns by location, company, or role. It’s an insight into the pulse of your building. Decision-makers must reach for a future of real estate that is geared towards innovation and engaging services to drive long-term occupier happiness.

If you want to discuss what engagement PropTech your property needs, connect with Locale at MIPIM 2022 on 15-18 March by, contacting info@locale.co.uk.