Background

A global commercial real estate firm, which had experienced steady growth for decades, became concerned about potential threats from digitally-enabled competitors. The client sought a consulting partner to evaluate the severity of these disruptions and devise a strategy for enhancing digitalization throughout their business.

Approach

Our consulting team collaborated closely with leaders from the Strategy and IT groups to formulate a comprehensive market assessment and digital transformation plan.

The following steps were taken:

1. Competitive Landscape Analysis: We thoroughly examined the competitive landscape, identifying the level of threats posed by both existing and new venture-backed players across the firm’s seven lines of business.
2. Customer Journey Mapping: Our team developed new customer journey maps, enabling us to understand the pain points and areas for improvement in the existing customer experience. This facilitated the identification of opportunities for digital enablement and enhanced market differentiation.
3. Digital Use Case Development: We created digital use cases that outlined specific opportunities for leveraging technology to enhance the client’s operations and deliver better value to their customers. These use cases served as a roadmap for the client’s digital transformation journey.

Results

As a result of our engagement, the client achieved the following outcomes:

1. Enhanced Understanding of the Competitive Landscape: The client gained a deeper understanding of the competitive threats they faced. This knowledge allowed them to make informed decisions regarding digital investments within the business.
2. Streamlined Decision-Making Process: With a clearer understanding of the market and their own digital capabilities, the client developed a structured decision-making process for prioritizing and implementing digital initiatives.
3. Identification of Acquisition Targets: Our team identified potential acquisition targets that could accelerate the client’s transition to a more digitally-enabled service offering. This strategic approach allowed the client to leverage external expertise and resources to enhance their digital capabilities.
4. Launch of New Digital Offerings: The client successfully launched several new digital offerings across multiple lines of business. These initiatives not only improved their market position but also positioned them as a digital leader within the commercial real estate industry.