With a few of our consultants having had extensive experience in the Commercial Real Estate industry in roles including; Operations, Information Technology, Marketing, Finance, Research and Human Resourcing. Many of our clients are asking what changes and trends we see for the future in this industry.
Attend a technology or marketing conference and you will see hundreds of new technologies and tools that apply to the world of Commercial Real Estate. Navigating the technology world is challenging but it is essential that leaders in Commercial Real Estate ensure that they maintain focus in the following areas.
Clarity around Data
Understand your Data, how you get it and how your people use it.
This is a data intensive industry. Over the course of the last half-decade new market entrants in data services have leveled the playing field in both North America and Europe, providing equal access to important data to both, billion dollar corporations as well as those that are operating a four man operation in a single market on a much more modest budget. Customers expect their servicing team to provide the right information at the right time. This requires an appropriate mix of the right data coupled with the right tools to extract it at the right time for the particular use.
Understanding the Power of Social Media and Social Marketing
Never before have so many had the opportunity to connect with so many others, voice their opinions and shape history. The growth of Social Networks, Wiki’s, Micro Blogging and the changes regarding online networks in the real estate community are enormous. If you are not using social media and social marketing strategies to generate leads, market properties, communicate with customers and promote your business through effective thought leadership and content management you will lose ground with the competition. It is essential that you have a solid social media strategy that is integrated with both a robust marketing strategy and an overall business strategy. Your clients fully expect your company to be social; customers do not interpret the odd tweet a social phenomenon.
Cloud Computing and the rebirth of SaaS
Most companies in this space have spent a lot of time, effort and money ensuring they have some degree of sales force automation. Giving the people in the field the tools to be quicker, faster and better than the competition is essential. Cloud computing and the appropriate use of software as a service (SaaS) solutions can solve these issues and make retrieving information, documents, listings, contracts and more easy for everyone. A properly deployed and secure Cloud based solution saves money, involves less maintenance and provides ease of use in the field. A progressive company is leveraging this time-value-of-technology advantage and putting it in the hands of their teams.
Executive and management teams creating strategic plans around their IT and Data environments in the Commercial Real Estate sector should focus on the following three key areas:
clarity around data
Social media and Social Marketing &
Cloud Computing and SaaS
