March 03, 2016

The Uber Generation: How Technology is Changing Expectations

The world’s largest taxi company owns no cars. The world’s largest accommodation provider owns no real estate. The world’s most popular media owner produces no content. Welcome to the new reality of Uber, Airbnb and Facebook.

Access to technology is disrupting how companies operate and interact with their clients.

Watch out that you’re not left behind.

Today, technology is playing a starring role in driving a renewed focus on the customer by giving them greater power, voice and control. It has, essentially, redefined the customer experience in three key ways.

 

1. Right Here, Right Now

In 2015, almost 70% of all Canadians owned a smartphone. (Catalyst/GroupM) Mobile usage is now ubiquitous, a common sight in our daily lives. Mobile users now expect to be able to access content, information and services through their phones. And, it’s not just the Millennials. Mobile usage cuts across all demographics.

Even as mobile devices have made finding information and getting in touch easier than ever before, it’s also shifted customer expectations for all industries, including the multi-family property management. Nine to five hours only? No way. Prospective customers want to be able to apply online, rather than slog over to an office and fill out paperwork, and residents now expect faster answers and increased access to online services like maintenance requests.

 

2. What’s My Name?

In addition to the new 24/7 reality, there is a movement toward more and more customization and personalization. Just like LinkedIn shows job listings tailored to your industry and position, there is now an expectation to have built-in relevance and context. If it isn’t personal, it won’t capture attention and people won’t engage.

Using relevant personalization that takes into account the content, time, message and device is more likely to provide a more positive, compelling customer experience. Empowering residents to be able to receive notices via text message or by email. Personalize perks, and give them a dashboard that is has all their information.

 

Lastly, as Dale Carnegie said years ago, “The sweetest sound in any language is one’s own name.” Sending a memo about pool maintenance? Personalize it with the resident’s name.

3. Help Me to Help Myself

The new customer experience is often the ability to self-service. From self-checkouts at your local grocery store to online banking, the rise of self-service has created a new breed of customers who are happy to help themselves as long as it is easy and convenient. This doesn’t mean that they no longer want to call and talk to a real person, but it does mean that through smart use of self-service tactics things like changing rental payment options will probably now be handled through a personalized portal. It’s a win-win situation, as it relieves the burden on the front office, and customers can quickly get what they want.

Customer expectations are higher than ever, and the way residents a prospects experience property brands has changed. Technology enables companies to learn, adapt and exceed customer expectations.

To learn more about how Property Vista can help your REIT or property management company stay competitive and relevant in the age of the Uber generation, sign up for your free account today or give us a call.

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Tasha Morton

Tenant Receivables Analyst, MetCap Living Management Inc.

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The Sales and Support team are excellent. The dashboards give our team an quick look at performance. Tenant’s feedback is very positive.