At some stage, all real estate businesses and brands will have to switch their focus from survival to revival. They will look to rebound, albeit cautiously. And in many cases, they will need to revisit their communications because they cannot only return to ‘business as usual.’ Almost all firms will need to redefine their promise to customers, reevaluate their voice and messaging, and reshape the experiences they deliver.
We’re already telling different stories from a few months ago — stories of isolation, but also new-found connection. Stories of working with our kids in the room, stories of family meals, and new workout regimes. Stories of stress, anxiety, and fear. Stories of hope, optimism, and courage. Which of these stories do we wish to continue telling? And how will we tell them? While embracing new narratives, how will they define the brand experience of our places?
The outlook for the next year will be particularly grim and painful for many. Still, as our past ‘unprecedented’ events have shown, (the great depression, 9/11, great recession) these periods act as a catalyst for accelerating new ways of living.
So while we must cut costs, double down on initiatives or shutter things altogether, I believe there is an opportunity to start thinking about our new reality now and refocus around why we even started a business – to serve and create value for others.
Anthony Slumbers, a consultant and big proponent of Proptech wrote this last year:
‘The key KPI’s of the future will be different, and there will only be four that matter. Flexibility, Productivity, Wellness, and Sustainability. Only invest in assets that score highly against all four.’
This future is now.
Every real estate project or business should be using these four attributes as a checklist with which to evaluate their project planning, design, and communication decisions from now on.