What is a Real Estate Digital Transformation Plan?
A real estate digital transformation plan is a framework that outlines a business’s digital transformation strategy. It is designed to help real estate businesses identify and evaluate opportunities to use digital technologies to enhance their operations. This plan includes clear objectives, measurable targets (KPIs), and related projects that need to be implemented to achieve those targets. The plan also outlines how to leverage existing technology and develop new technology to drive digital transformation.
What's included in this Real Estate Digital Transformation Plan template?
- 3 focus areas
- 6 objectives
- 6 projects
- 6 KPIs
Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.
Who is the Real Estate Digital Transformation Plan template for?
The Real Estate Digital Transformation Plan template is designed to help real estate businesses evaluate and plan for digitally transforming their property management, sales processes, and customer interactions. This template can help real estate businesses identify potential areas of improvement, set measurable targets, and develop projects to reach those targets.
1. Define clear examples of your focus areas
Focus areas are the broad categories that a business can use to target its digital transformation plans. Each focus area should include objectives, measurable targets (KPIs), and related projects that need to be implemented to achieve those targets. Examples of strategic focus areas that could fall under a Real Estate Digital Transformation Plan could be: Property Management, Sales Processes, and Customer Interactions.
2. Think about the objectives that could fall under that focus area
Objectives are the goals or outcomes that a business wants to achieve through its digital transformation plan. When defining objectives for a focus area, it is important to think about how the business will measure success and how these objectives will contribute to the overall success of the plan. Examples of some objectives for the focus area of Property Management could be: Enhance Data-driven Decisions, and Streamline Maintenance Process.
3. Set measurable targets (KPIs) to tackle the objective
KPIs are measurable targets that a business can use to evaluate the success of their digital transformation plan. They are used to track progress and ensure that objectives are being met. KPIs should be specific, measurable, achievable, relevant, and time-based. An example of a KPI for the focus area of Property Management Digital Transformation could be: Increase accuracy of data-driven decisions.
4. Implement related projects to achieve the KPIs
Projects are the initiatives or actions that need to be completed in order to achieve the objectives in a digital transformation plan. Projects can include initiatives such as building new technology, utilizing existing technology, automating processes, and streamlining operations.
5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy
Cascade Strategy Execution Platform provides real-time visibility into the progress of your digital transformation plan. It allows you to quickly identify and address any issues with the plan, set measurable targets, and track progress to ensure that objectives are met.