Types of ROI on a tenant experience platform

Determining ROI can be the single most important aspect for decision-makers when deciding on whether to implement a tenant experience platform. We advise decision-makers to take a holistic view on analysing the return on investment, as it can be quite hard to fully quantify. This is because there are many benefits to the platform, like tenant/employee engagement and satisfaction that can be hard to quantify – but no less are an important part.

Yes, you could look at it as very black and white, that the platform will cost X and therefore reducing churn by X will bring a return on investment on the platform. However, this wouldn’t yield a completely accurate representation of your true return on investment.

For a more accurate and nuanced perspective on the potential ROI of a tenant experience platform, you’ll need to consider the following outlined below.

Tenant engagement/satisfaction

Increasing tenant engagement and satisfaction is one of the most important factors for many clients that launch a workplace experience platform with us. The platform allows you to engage through various touchpoints including; articles, news, events, services, push notifications, perks and more. Also, through creating better building experiences like seamless door access and mobile desk/space bookings your tenants have a more satisfying experience. As we move forward after lockdown, improving confidence to return to the workplace through increased communication around Covid-19 and specific features like health check-ins will ease tenants’ minds around returning to the workplace and increase overall satisfaction.

Increased productivity

A workplace experience platform can increase productivity in employees. Only 13% of employees globally are highly engaged and satisfied with their workplace, and 69% of employees agree that they would work harder if they felt appreciated. This goes to show that a workplace app can increase productivity through the added value it brings to employees through events, perks and ensuring they feel connected.

Tenant/employee retention

Leading on from the previous points, another return you may want from your investment is increased retention. Whether that be employees or tenants, a workplace experience platform can ultimately increase retention as a knock-on effect of the above points – increased satisfaction, engagement and productivity. Of course, people may move on for other reasons outside of your control, but happier tenants and employees will be more likely to stay for longer if they’re satisfied and engaged.

Energy optimisation

Another aspect to consider when identifying return on investment is energy optimisation. A workplace experience platform like District can easily integrate with smart building solutions, like sensors that can monitor and control HVAC settings to optimise your building’s energy usage. By doing so, you can drastically reduce your carbon footprint and the cost of your utility bills. Another added benefit is that it can be used as a sales tool to attract tenants that are looking to work in an environmentally friendly environment.

Automating tasks

A workplace experience platform can automate some of your building manager’s and receptionist’s time by automating tasks you may be doing manually. For example, the ability for tenants to book and organise meeting rooms/desks and make payments directly in the app. This reduces the time of creating invoices manually, taking calls about bookings, responding to emails or dealing with bookings at the reception desk. It also reduces the time spent managing the availability of spaces. By automating tasks, you can reduce the number of staff needed in the building or save their time for more value-adding tasks like organising networking events that engage your community.

Attracting investors

For some landlords, a worthy return on investment would be the ability to attract investors due to the increased value the platform provides, and with the stats to back it up. With the analytics dashboard, you can showcase key metrics on your tenants and building to attract investors, backing up your case with facts.

 

Case study: WPP

WPP’s key objectives

  • To engage employees, driving increased productivity, communication and collaboration.
  • To connect their employees across their 20 campuses worldwide, through one channel.
  • Increase employee tenure and retention.

For more information on measuring ROI, and to find out how we support our clients to achieve their ROI here at District Technologies download our latest e-guide.

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