We know a thing or two when it comes to tenant engagement. We also know that the only way to guarantee a successful workplace experience is to guarantee the success of our customers: the landlords and property teams who work hard every day to enhance their buildings to attract larger customers, increase loyalty and brand recognition, increase the value of their assets, and ultimately improve their net operating income (NOI). Thus, the secret behind how to keep tenants happy is so much more than providing industry leaders with the right toolset — it’s making sure that they have the right support to keep their tenants happy and to maintain property technology upgrades.
At HqO, we make sure we’re properly supporting our customers by leveraging a net promoter scoring (NPS) system alongside providing ongoing support — which is why we’ve never lost a customer, and we’re the highest-ranked in our industry. Here’s what this means for commercial real estate (CRE) leaders.
What is NPS, Anyway?
According to Qualtrics, “net promoter score (NPS) is the gold standard of customer experience metrics.” NPS measures customer loyalty through customer satisfaction. Developed in 2003 by Bain and Company, one single question is used by millions of businesses and companies to track their performance by giving insights into customer perception: “How likely is it that you would recommend [Organization/Product/Service Name] to a friend or colleague?”
Respondents then give a rating between 0 and 10, which sorts customers into one of three categories based on their answers: Promoters (respondents with a score of 9 or higher, indicating satisfaction bred out of loyalty and enthusiasm), Passives (respondents with a score of 7 or 8, who are typically satisfied but are not engaged enough to reach the promoter level), or Detractors (respondents with a score of 0 to 6, who are unhappy and unlikely to continue with the desired service or product).
If every respondent is a detractor, a company’s score could dip as low as -100. On the opposite end of the spectrum, if every respondent is a promoter, the company’s score could reach 100. Though both instances are exceptionally rare, an “excellent” NPS score varies by industry and is typically anywhere in the 50-80 range.
Though most commonly used in the healthcare, hospitality, travel, and retail industries, HqO leverages NPS scoring to gather feedback and understand the current health of our CRE customers — as well as to make sure that we’re doing everything we can to help them provide meaningful office experiences to their customers. We accomplish this by making sure that we don’t just provide a product, we provide a true partnership. Here’s how we do that.
How HqO Provides Customer Support
Perhaps one of the reasons why our NPS score is so high — which consistently sits above industry average — is that we not only gauge the success of our clients through merely asking them, we also make sure they can deliver on what makes a good tenant experience by backing them with a fully dedicated team of tenant experience experts. We don’t just help CRE teams organize their thoughts and give them outcomes. Instead, we work alongside them every step of the way to help make the process seamless and enjoyable.
Through our Customer Success team — which is broken down into Customer Success, Customer Support, and Tenant Experience experts — we hone in on and value each customer’s designated role and their specific needs. For example, a property manager may have different goals and outcomes than an asset manager. It’s our job to dive into the intricacies of their responsibilities and to clearly define a trajectory to success for them. This includes the fact that we need to set up these goals to not only achieve the higher level (landlord) strategy, but to also achieve day-to-day goals at the property level.
We don’t just provide the baseline of customer support. Instead, each customer can take advantage of our focus on alignment, strategy, project and process management, and investing our resources to truly understand the customer’s business and enabling them to articulate the value of their investments in an eloquent way.
Generating CRE Value
A high NPS score means that customers are happy with a product or service because it’s reliable. We like to attribute this to our team’s unique ability to produce results. Our thoughtful approach can help differentiate portfolios in an increasingly competitive industry through several measurable avenues: establishing amazing digital-to-physical experiences for tenants; unifying and streamlining disparate technology systems into a single and easy-to-use platform; encouraging a data-driven approach for CapEx and OpEx investments; opening up direct lines of communication with tenants and building stakeholders; and much, much more.