property marketing
Introducing New Technology? Top 10 Effective Strategies for Multifamily Property Managers
Are you introducing a new technology in your multifamily property management company? It’s not a flippant process; it requires careful planning and execution.
Here is a suggested plan:
Identify the Need
- Analyze the current processes and pain points in the organization. Enterprise Business Planning is one way to unearth the points.
- Determine the areas where the new technology can significantly improve, such as enhancing efficiency, reducing costs, or improving resident satisfaction.
- Remember team-member engagement and satisfaction. Just because you can introduce a new system doesn’t mean you should.
Research and Evaluation
- Conduct thorough research on the available technology solutions in the market.
- Evaluate different supplier partners’ offerings based on functionality, scalability, integration capabilities, security, and cost.
- Talk to your current supplier partners; they may have the solution in their offering.
- Consider seeking input from industry experts or consultants with experience implementing similar technologies.
Stakeholder Engagement
- Identify key organizational stakeholders, including executive leadership, department heads, property managers, and other relevant team members.
- Find your biggest cynics and turn them into raving fans. They will be a big part of a successful roll-out.
- Also, enlist your sneezers (influencers). They tend to have an overweight influence on the company regarding change.
- Organize meetings and presentations to educate stakeholders about the potential benefits of the new technology and gather their feedback and input.
- Address any concerns or objections raised by stakeholders and ensure their buy-in.
Pilot Implementation
- Select a small group of properties or a single location to pilot the new technology implementation.
- Develop a detailed implementation plan, including timelines, resources, training, and support requirements.
- Closely monitor the pilot implementation, gathering user feedback and addressing any issues.
- Evaluate the pilot’s success based on predetermined metrics and make necessary adjustments before a broader rollout.
Training and Change Management
- Develop comprehensive training materials and programs for team members using the new technology.
- Consider hiring a change management consultant or designating an internal team to facilitate the adoption of the new technology and address any resistance to change.
- Provide ongoing support and resources to ensure successful adoption and utilization of the new technology.
Phased Rollout
- Based on what was learned from the pilot implementation, a phased rollout plan for the new technology should be developed across the entire company.
- Divide the rollout into manageable phases, prioritizing properties or locations with the greatest need or potential for immediate impact.
- Continuously monitor and adjust the rollout plan, addressing any challenges or issues.
Continuous Improvement and Optimization
- Establish processes for gathering feedback and suggestions from users and stakeholders on an ongoing basis. Feedback is key!
- Regularly review the performance and utilization of the new technology, identifying areas for improvement or optimization.
- Collaborate with the technology vendor or internal IT team to implement updates, enhancements, or integrations to enhance the new technology’s value further.
Communication and Promotion
- Develop a comprehensive communication plan to keep stakeholders, team members, and residents informed about the new technology and its benefits.
- Promote the successful implementation and adoption of the new technology through internal and external channels, such as company newsletters, social media, or industry events.
While no plan is flawless, winging it ensures failure. This plan may have gaps, but following it gives your company the best shot at nailing the new tech rollout.
One last tip – don’t be afraid to pull the plug!