Cloud-based servers allow organizations to access their network and data on the internet instead of having to manage large and unsightly physical servers. The cloud facilitates access to important data therefore improving user-friendly capabilities and enhanced productivity. Approximately 90% of companies currently use some form of cloud services, there are 3 main levels which an organization can adopt cloud services that increase based on sophistication of the platform.
Communication is crucial to seamless and productive operations in any organization, but as businesses grow, maintaining strong communication can become increasingly difficult. According to a 2018 Gallagher study, 60% of companies do not have a long-term communication strategy, yet around 50% of those companies said that they wanted to prioritize improving leadership and communication. Organizations that seek to improve the effectiveness of communication can integrate mobile apps into their strategy to extend the reach of communication and as a result improve employee engagement.
There is no question that customer relationships are crucial in the property management industry. The role of the customer has become increasingly significant, what once could be boiled down to the simple ubiquitous adage “the customer’s always right,” is now a customer-centric business model. For property managers to improve customer relations they must tailor service to suit customers’ the specific needs. To do this companies are using a concept called “Voice of the Customer (VoC)” which helps businesses determine how they can provide value to customers.
Offering an online knowledge base is a helpful in creating a complete and effective customer service strategy. 89% of customers expect companies to offer a self-service support portal, and Forrester research determined that the most frequently used self-service platforms are knowledge bases. A strong and comprehensive online knowledge base can come in many forms: a website, FAQ, manual – even social media, or it can be a combination of multiple platforms.
Signing a new client is great, it is rewarding, validating, and exciting. Generating new leads and converting prospects is huge part of staying operational but developing strategies to retain customers is arguably more crucial than converting leads. Repeat customers typically account for 65% of a company’s current business so, a focus on retention is beneficial for property management companies looking to expand their portfolio. After you bring a new customer on board the goal becomes oriented around keeping that customer, but only about 32% of executives say that retaining current customers is a priority.
The state of the environment impacts business and business impacts the environment. As environmental concerns become more dire, customers are more concerned about how their spending decisions effect the planet. A 2018 Futerra survey found that 88% of customers want businesses to help them achieve a more sustainable lifestyle, but 43% of respondents said that businesses make it harder to live sustainably.
Communication has gone through an evolution following the advances of technology in general. The way we’ve communicated as individuals, groups, and organizations have all been disrupted by innovation. Property managers often act as a liaison between customers, colleagues, vendors, and others, which makes optimizing communication incredibly important. Being able to send documents like letters, notices, or even invoices electronically and en-masse can offer a multitude of benefits for your company.
Not too long-ago video conferencing technology was the thing of imaginative TV or an out of reach technology. Today video meeting software is a readily available, easy to access tool that companies can leverage. However, many companies are hesitant about their switch to remote video technology. TechRadar research shows that around 26%-30% of people are uncomfortable with the idea of using video conferences.
Technology at work can be complicated. As business executives mull over the advantages and disadvantages of installing specialized software, various factors are considered in the cost-benefit analysis. Arguably, the most important effect to consider is how technology supports your team. PWC research found that 90% of C-Suite executives felt like they were making decisions related technology that reflected their staff’s needs but only about 53% of staff agreed.
Integrated payment processors were once met with distrust and uncertainty by the general public, now the apprehension towards online payments is fading. In the U.S. e-commerce totaled over $146.2 billion by Q2 in 2019. Payment processors have grown in popularity because of the benefits and ease they offer both customers and businesses that physical cash and checks can’t.