Embracing Change: Lessons Learned from the Pandemic for Property Marketing and Operations

In under a week, 'most' Covid restrictions will be removed from our lives. After 18 months of living, working and delivering business in a new normal – it can be hard to understand what differences we will really see occur on this day. 

With infection rates continuing to rise, it seems unlikely that property operators, retailers, or public settings will be removing the physical safeguards in place to protect their staff. Masks will no longer be legally required, but there is continuing guidance from scientists, and now politicians, that wearing them in indoor settings is recommended. 

Yet, this links into the question we should all be asking. What have we learned, and what should we keep.

The Power of Communication

For property operators in the BTR, Co-living and student accommodation sector, understanding their Gen Z customers is important. The impact of the COVID-19 pandemic has been felt across all generations. However, the conversation has rarely focused on the effects for this young generation.  It was at a time in their lives when they were meant to explore, be adventurous, find themselves and start to live independently. 

The Guardian surveyed 16 to 25 years across Europe about their pandemic experiences. The responses are insightful, sad, often angry, and a mix of hopeful and worried about the future. 

Overwhelmingly in this survey, it was clear that this generation has felt ignored, unsupported or not considered as they have been asked to play their part to stop the spread. They were willing to play their role but felt there was little consideration placed on how their lives, dreams and aspirations were seen to be put even further away from them. 

From The Knight Frank & UCAS Student Accommodation research, we know that student accommodation operators did largely step up to the plate in this. 69% of students who live in PBSA responded positively to their provider's response to the COVID-19 pandemic.

At TPMS, we always give our praise to the on-the-ground staff for much of this. As the front line of an organisation's approach. We know that PBSA's operators worked hard to deliver the best experience for their residents under challenging situations. 

But this couldn't have been done without reliable communications internally and externally. Everyone needed to be aware quickly and efficiently of what was happening, when and how. 

Beyond that, speaking with, communicating and listening to customers must have been done to ensure that the right tone, actions and considerations were made. 

The sector has rediscovered the true power of good communication. As discussed in our recent webinar – The Impact of Covid on Changing Priorities – communicating and engaging with your customers is paramount. The role of communication and the power of saying something, even when the message is to tell customers we are working on coming back to you, is one that those who did well realised early on. We hope that the heightened role of communications will remain a key feature in the future.

Building experiences

In our webinar on brand – 'experience' was mentioned often. We all know that student experience is synonymous with student accommodation and universities. In a year when building new physical experiences was difficult, what have we learned?

The Property sector has always talked about the importance of experience. But it isn't until you have to generate an experience in a time of crisis that you really can understand why.

It not only creates connections and relationships but also provides a familiar, safe and welcome space. 

The sector has proved that it can pivot from digital to physical experiences, it can innovate, and it can be agile. 

At TPMS, we believe that keeping this focus on what your customers need now will be important. We have all missed out on so many experiences. If we can deliver innovation in a time of crisis, the sky really is the limit without it.

Everyone is part of the team

Finally, as ever, separating a team has made us all realise the part that each individual in the team plays. With furlough, flatter team structures and the fact that no leader has been in this situation before meant that we truly listened, we considered everyone's viewpoint, and there were fewer top-down directions. 

We can all bring a different perspective to a situation, in the same way, each of our customers come from a different perspective. This process of cross engagement across a team is always essential and powerful. 

As marketers, we always advocate this (read our blog about Fingers In Pies), as your product never gets delivered in isolation. 

So keep listening, engaging and working with teams to create new directions and decisions. 

There is a lot, of course, that we want to forget about the last 18months, but there is a lot we should be proud of – much of which will build a better sector going forward. 

So let's keep communication, building experiences and collaborating across teams. 

If you need assistance on communications or developing your business, The Property Marketing Strategists can help. Contact us to find out more.

References

Knight Frank (2021) Knight Frank & UCAS Student Accommodation Survey Report - 2021. Available from: https://www.knightfrank.com/research/report-library/knight-frank-ucas-student-accommodation-survey-report-2021-7707.aspx[Accessed 3 June 2021].

The Guardian (2021) News: Europe's In their own words. 'So many revolutions to lead': Europe's Gen Z on their post-Covid future. Available from: https://www.theguardian.com/world/ng-interactive/2021/jun/02/so-many-revolutions-to-lead-europe-generation-z-on-their-post-covid-future[Accessed 3 June 20