Digital Building Ecosystem (12 of 13): Monetization with i-Ad
To many people, property management is treated as a cost centre, lack of prospect, always run on a tight budget. The major income is generated from the monthly fixed rental and maintenance collection and the usage of facilities. The profit centre for property management, parking operation, may be outsourced to a third-party parking operator by the building owner, detached from the building management.
Lack of a new income stream is the key factor restricting the future development of the property management industry, especially when the pandemic hit, work from home became a new trend, the demand for office space is shrinking.
The good news is, digital transformation technology provides an unprecedented opportunity for business owners to revitalize the industry via the convergence of technologies, consolidating all different functionalities. Parking, as one of the main components, is inseparable from the entire ecosystem. The new cashless and touchless parking technology further reduces the cost and complexity to run a parking site.
The gist of the digital building is to build connectivity between management and tenants, tenants' employees, visitors, merchants nearby, etc. via the Tenant App. When all kinds of activities and communications can be converged in a single App, it unlocks the potential of commerce, precisely phrased, Near Field Commerce, which is another shouldn’t-be-missed opportunity for the property management industry. And it was discussed on Malaysiakini's Digital Building series 6 of 13 published on 5th May 2021, Digital Building Ecosystem (6/13): Near Field Commerce, The Coming Trend
Advertisement is the twin brother of Near Field Commerce. With the tenant app that reaches the vast tenants and their employees, digital ads, either in the form of notification, message, banner and pop up, are all possible; and electronic ads on the digital display screen, or physical at the lobby or digital display screen, lift, boom gate and parking island, which can be managed with a single admin platform.
|Teh Hon Seng, Founder and CEO of TimeTec Group|
Teh Hon Seng, CEO of TimeTec Group, introduced the TimeTec i-Ad platform, said, “i-Ad is a cloud advertising platform that highlights your business’s advertisements on SaaS applications targeted at their respective users. i-Ad is a convenient widget that can fit on almost all SaaS applications including TimeTec Tenant App. Developers can easily plug i-Ad on their SaaS and generate incomes from displaying the advertisements. The income can either offset the Tenant App subscription fees or top up their profit in revenue.”
Teh added, “As for Digital Building Ecosystem, i-Merchants is the sub-app of TimeTec Tenant App that allows merchants to promote and sell their products/services to the surrounding communities. Through Tenant App, tenants of a community can view and search for services such as restaurants, laundry stores, convenient stores, etc from i-Merchants based on their location around their community.”
"i-Ad is an advertising platform that allows merchants to boost their services and promotion on TimeTec Tenant App targeted at their respective users. When a merchant registers themselves at i-Ad, they will get a free account on i-Merchants. If the merchants of i-Merchants want to increase their visibility on TimeTec Tenant, they can advertise using i-Ad which targets the particular Tenant Apps users. Of course, the property manager has to make known of the i-Ad and i-Merchants services to the merchants nearby, and persuade them to onboard their Tenant App.”
For more information on TimeTec i-Ad hub and TimeTec Digital Building Ecosystem, refer to www.iadhub.com and contact Ms. Haw Lee Chin, Business Development Manager at email@example.com (012-2297303) or Mr. Aiden Teh at firstname.lastname@example.org (010-2211150), General line and email: 03-80709933 and email@example.com.
Stay tuned with TimeTec for the next digital building ecosystem announcement every Wednesday! Click here for Series 11 of 13:
English version: Digital Building Ecosystem (11/13): Enhancing Surveillance Integration
Malay version: Ekosistem Bangunan Digital (11/13): Meningkatkan Integrasi Pengawasan
Chinese version: 智慧楼宇系列（11/13）：加强视频监控集成
TimeTec Group was established in 2000. Over 20 years, the Group had developed three homegrown globally recognized IT brands, FingerTec, TimeTec and iNeighbour, for workforce management, security, smart office, smart residential and smart township solutions by unleashing of the power of biometrics, cloud & edge computing, IoT and AI technologies. All these solutions connect and change the landscape of work life and home life in a larger ecosystem. Through a vast network, TimeTec Group distributes its biometric hardware products and 16 cloud applications, including IoT devices, to more than 150 countries worldwide. Visit our company websites: TimeTec Cloud, FingerTec, iNeighbour, TimeTec Building
Various renowned clients have subscribed to TimeTec various solutions including IOI Properties, Putrajaya Holdings, Ibraco, Binastra, Thriven, Hock Seng Lee, QSR Brands, Central Sugars Refinery CSR, Sunway Constructions, Mamee, Yakult, Nano Malaysia Berhad, and many more. The versatility and feasibility of TimeTec products also attract various international customers from all over the world, including Hong Kong, Dubai, Australia, Africa and etc.