Top Digital Amenity Boosts Tenant Satisfaction And Retention
Property managers everywhere are scrambling to equip their buildings for the modern amenities war. Competing to attract and retain top tenants, buildings now need digital assets that speak to tech-fluent Millennials.
Captivate was the first to install screens in elevators in 1997, alleviating the potential awkwardness and boredom induced by the ride. It is now celebrating its 20-year anniversary, and in two decades, the evolution of its business model and product offerings has progressed at the same rapid, exponential pace as technology.
Captivate has a live editorial team of content curators who push trending stories to its lobby and elevator displays throughout the workday. Property managers can brand the screens, assume control of their content or flexibly use them as communication platforms for tenant outreach and emergency alerts.
According to Captivate associate director Matt Pocock, the company represents the industry’s only end-to-end solution, installing, servicing and populating the interfaces.
Maintaining its reputation as “CRE’s No. 1 Digital Amenity” takes continuous innovation. The team must anticipate the varied needs of the next generation of workers, who seem more ephemeral and less loyal than their predecessors. Digital natives display a higher affinity for technology but have higher expectations for their devices’ functionality.
Since elevator and lobby screens now vie for attention with mobile devices imbued with diverse capabilities, Captivate uses a creative, data-informed approach to generate its content.
“In the last 24 months, we have introduced a significantly expanded customizable feature set,” Pocock said.
This lets property managers take as active or passive a role as they want. User-generated content integrates the physical space with the buildings’ community, network and image.
Captivate invites workers to take quizzes and surveys tailored to specific properties, or post pictures of their office views and selfies snapped in the elevator. Rather than avert their gazes by burying their noses in smartphones, employees share in a collective experience, which makes them feel more connected.
“We raise tenant satisfaction by nearly 40% inside of elevators, and happier tenants equate to higher renewal and retention rates,” Pocock said.
In addition to reducing the need for pricey marketing campaigns aimed at tenant acquisition, Captivate can also increase a building's market value and enable property managers to command a higher price per SF. The initial cost, which can be passed along to tenants, can be quickly recouped as managers realize immediate returns on the amenity expenditure.
“Our in-house research arm, OfficePulse, surveys tenants directly to make sure we are delivering content that is most engaging and relevant to them,” Pocock said. “We are a Nielsen-rated media network that verifies audience reach and demographics for our advertising partners.”
Captivate’s primary focus is Class-A commercial office space in central business districts in the U.S. and Canada.
“We’re currently in the top 33 markets in North America, and partner with companies like SL Green, CBRE, JLL and Vornado,” Pocock said.
Captivate may find its client base expanding with the democratization of amenities historically reserved for premier buildings.
To learn more about this Bisnow content sponsor, click here.