The adoption rate of Tenant Experience (TeX) software is accelerating across many of the world’s largest portfolios. Although still in its early days, the need to understand the tenant users of commercial buildings is undeniable, and providing premium experiences facilitated by mobile technology is a broad consumer mandate. A growing number of apps are being offered to solve the problem, but sophisticated landlords understand that a TeX platform becomes an extension of their enterprise infrastructure, and can just as easily become their weak link.
An app may be able to service a building, but a portfolio requires a platform built for the enterprise.
Tenant Experience is about adding convenience and removing friction from building interactions. A good TeX app accomplishes this via digital interfaces to the physical environment that are mobile, hyper-local, and seamless. Simple navigation aids or webviews just don’t cut it. The depth of integration and ongoing maintenance for the number of service providers required to cover such broad locality for even one CRE portfolio, let alone significant market penetration, quickly becomes economically non-viable. This combination of breadth, depth, and scale requires a platform strategy, whereby service providers become development partners offering their value through standardized APIs and compete for the right to serve a building’s valuable tenant users.
Understanding tenant users to the level of making data-driven decisions that increase NOI is fundamental to the practice of Tenant Experience.
The more engaging the TeX app, the more data becomes available. This further supports my prior assertion discounting simple navigation aids. Observable depth of experience enables depth of insight. An enterprise-grade TeX platform must facilitate deep observation of tenant satisfaction, and offer an analytics platform equal to the task of converting these observations into NOI impacting actions. Furthermore, such a platform should extend beyond reports and dashboards to facilitate discovery. Gold can often be found in unexpected correlations.
Many CRE portfolios operate their own internal business intelligence (BI) tools. For these enterprises, TeX platforms need to offer options for exporting relevant data regularly and painlessly. The latter refers not only to the mechanics of data transport, but to its conformance to standardized space taxonomies, thereby maximizing semantic equivalence or at least transformation fidelity.
Finally, a well-integrated Tenant Experience platform and the company that operates it are an extension of the CRE enterprise itself, and must treat user privacy and compliance as first-class citizens. Certification under recognized security frameworks including SOC-2 and ISO-27001/27002 are essential when extending one’s enterprise. Data privacy regulations such as GDPR, CCPA, and the EU-US/Swiss-US Privacy Shield should be embraced demonstrably, even for customers not operating in those geographies. Further, they must extend to all downstream service provider partners to whom user data is transmitted and entrusted.