11 Interviews, 3 Key Insights, 1 Validated Platform
New ideas pop up constantly in commercial real estate and facility management. But how do you know if your concept will resonate with your target market? The answer lies in market research that goes beyond assumptions and explores customer needs, preferences, and pain points.
At Revelare Insights, we help companies turn promising ideas into market-validated solutions. Today, we're sharing a useful case study that demonstrates the power of in-depth qualitative research in validating and refining a digital service platform concept.
Validating a Service Portal Concept
A prominent national commercial real estate firm developed an innovative client-facing online portal concept designed to streamline facility management services. The platform would work like a digital marketplace. It would connect building owners with pre-screened service providers in one central place. Think of it as a specialized service that could revolutionize how commercial properties access everything from janitorial services to HVAC maintenance.
However, having a great idea and knowing whether the market will embrace it are two entirely different things. The real estate firm needed to understand whether their target audience would use such a platform and what specific features would drive adoption. This is where market research became crucial. So how do you test an idea like this before spending millions on development?
Deep Insights Through One-on-One Interviews
To understand the market potential for this service portal concept, we conducted 11 detailed in-depth interviews with a diverse group of commercial property stakeholders. Our participants included building owners, tenants, executives, and facility managers representing office, industrial, and retail properties.
The participant profile was strong in terms of experience and authority:
Executive assistants and administrative professionals with direct facility management responsibilities
Business owners with decades of property management experience
CEOs and senior executives who make strategic decisions about facility services
Controllers and finance professionals who understand the cost implications of facility management
Each interview lasted 30-45 minutes. We covered 3 main topics:
How participants currently research, select, and manage facility services
The specific obstacles they face in their current processes
Their detailed reactions to the new proposed digital platform
Uncovering Market Realities
Our research revealed that facility service management is currently a fragmented, time-consuming process for most commercial property stakeholders. Participants typically manage relationships with multiple vendors because they haven't found a single provider capable of handling all their facility service needs.
The most common approach involves maintaining personal lists of trusted vendors, supplemented by word-of-mouth recommendations and Google searches when new needs arise. This process often requires significant time investment, with some participants spending hours or even months comparing quotes and evaluating providers.
But managing facility services isn't just fragmented, it's broken in 3 specific ways:
1. Time Constraints: 9 out of 11 participants identified "not enough time" as their biggest challenge when shopping for facility services. The research and vendor comparison process was described as time-intensive and disruptive to other business priorities.
2. Finding Quality Providers: Equally important was the challenge of identifying reliable, high-quality service providers. Participants expressed frustration with vendors who don't complete jobs properly the first time, requiring multiple return visits and additional coordination.
3. Cost: This ranked as the third most significant concern, with almost 75% of participants citing "cost too high" as a major issue.
When presented with the digital service portal concept, participant reactions were very positive. The average likelihood-to-use rating was 8.5 out of 10, with participants consistently highlighting several key advantages:
Time Savings: Every participant recognized that a centralized platform could significantly reduce the time spent researching and coordinating facility services.
Pre-Qualified Vendors: The concept of professionally vetted service providers addressed their primary concern about service quality and reliability.
One-Stop Solution: Participants appreciated the "one-stop shop" approach, comparing it to "a commercial directory service for companies."
Simplified Coordination: The prospect of dealing with a single point of contact for multiple services appealed to participants who currently manage multiple vendor relationships.
So far, so good. But we needed to understand what could prevent adoption.
What Makes or Breaks Adoption
While the overall response was positive, our research identified several critical factors that would determine the platform's success:
1. Transparency in Vendor Selection
Majority of participants requested more information about how vendors would be selected and qualified for the platform. They wanted to understand:
The specific criteria used to evaluate potential vendors
Whether vendors pay to participate or earn their way onto the platform
Required certifications, insurance, and compliance standards
The ongoing monitoring and quality assurance process
2. Clear Process Communication
Many participants needed better understanding of the operational mechanics:
Who would they contact when issues arise (the platform or the vendor directly?)
How problems with vendor performance would be resolved
What recourse would be available if service quality didn't meet expectations
How the platform would ensure adequate vendor availability
3. Quality Assurance Systems
Several participants expressed concern about accountability, feeling they might hold vendors more accountable than the platform operator would. This highlighted the need for robust quality monitoring and feedback systems built into the service.
Turning Insights into Action
Based on the research findings, we provided the commercial real estate firm with these 3 specific recommendations to maximize their service portal's market potential:
1. Enhanced Communication Strategy
Develop detailed explanations of the vendor selection and qualification process, including specific criteria, ongoing monitoring procedures, and quality standards that vendors must maintain.
Create clear process documentation that explains exactly how customers interact with the platform, how issues are resolved, and what support is available throughout the service delivery process.
2. Platform Feature Development
Implement a robust rating system similar to consumer platforms, allowing customers to rate and review vendors based on their actual service experiences.
Add comprehensive vendor profiles that include certifications, insurance information, past customer ratings, and specialization details.
Develop a problem resolution workflow that clearly outlines steps for addressing service issues and ensuring customer satisfaction.
3. Market Education Initiative
Prepare successful testimonials that demonstrate the platform's value proposition in real-world scenarios.
Develop comparison tools that show time and cost savings compared to traditional vendor management approaches.
These recommendations worked because they addressed what we learned about how people make decisions.
Why This Research Matters
This property management service portal study shows 3 important things about market research and business validation:
The most successful business concepts address real customer pain points rather than creating solutions in search of problems. Our research confirmed that the service portal directly addressed the two biggest challenges faced by commercial property managers: time constraints and quality concerns.
While quantitative data can tell you what is happening, qualitative research reveals why it's happening and what customers really need. The detailed conversations with property managers uncovered specific concerns and requirements that wouldn't have emerged from a simple survey.
Effective market research goes beyond asking "Would you use this?" to understand the specific conditions and features that would drive adoption. Our research identified the critical success factors that could make or break the platform's market acceptance.
Continuous Market Intelligence
One of the most valuable aspects of this research was its foundation for ongoing market intelligence. The insights gathered provided the real estate firm with a baseline understanding of their market that could be tracked and updated over time.
Markets evolve, customer needs change, and competitive landscapes shift. The businesses that succeed are those that maintain continuous connection with their customers through regular research and feedback collection.
Strategic Market Research ROI
For this commercial real estate firm, the research investment provided multiple layers of value:
Understanding potential adoption barriers before platform development helped avoid costly mistakes and feature gaps.
Clear guidance on which features to prioritize and how to position the platform in the market.
Deep understanding of customer needs that competitors might not possess.
Concrete evidence of market demand to support internal decision-making and potential investor discussions.
Revelare Insights' Expertise in Commercial Real Estate Research
This case study represents the type of market research that Revelare Insights excels at delivering. Our experience spans various industries, where we understand the unique challenges facing property owners, managers, and service providers.
Our approach combines qualitative methodology with deep industry knowledge, ensuring that research investments translate directly into actionable business strategies. We don't just collect data; we reveal insights that drive real business decisions and competitive advantage.
This kind of impact is exactly what we deliver for our clients.
Transforming Ideas into Market Success
Whether you're developing a new service platform, considering market expansion, or refining your current offerings, the principles demonstrated in this property management study apply across industries and business models.
The key is asking the right questions, talking to the right people, and digging deep enough to uncover the insights that drive real business decisions. Surface-level research might confirm what you already believe, but strategic market research reveals what you need to know to succeed.
At Revelare Insights, we turn business assumptions into proven strategies. Our approach combines solid research with practical application. Every study gives you insights you can use right away to grow your business and reduce risk.
Ready to Validate Your Next Big Idea?
Every successful business innovation starts with understanding your market. Whether you're launching a new product, entering a new market, or refining your current strategy, comprehensive market research provides the foundation for confident decision-making.
Don't let assumptions guide your business strategy. Let data-driven insights show you the path to success.
Contact Revelare Insights today to discuss how market research can transform your business concept into a market-ready solution.
Our team of experienced researchers is ready to help you uncover the insights that drive growth, reduce risk, and create sustainable competitive advantage.