The benefits of change…
Legislation changes happen in industries every year – some more significant than others, but all will have an impact on someone, in some role, somewhere.
Embracing the change and explaining the impact to your audience is a great way to engage with them, support their needs and build loyalty – and ultimately become the one they turn to when the legislation comes in to force.
This approach was one adopted by dbs – our client for the past four years. As one of the UK’s leading debt recovery services, specialising in supporting commercial property managers and landlords in the recovery of rent arrears, dbs was quick to identify that new legislation surrounding rent arrears collection was going to have a huge impact on the industry.
6 April 2014 was a significant date for the industry – the common law right of distress had provided Landlords with a remedy against rent arrears since before the 13th century, however things changed considerably when the law of distress was replaced with new legislation – Commercial Rent Arrears Recovery (CRAR) – on this date.
Any legislation change is usually complex and will demand a significant change in business operations in order to understand the implications and be fully compliant.
dbs fully embraced this opportunity to give its clients and prospective clients a very transparent understanding and explanation of these changes. A dedicated section on its website gives informative articles and opinion pieces from leading industry experts, as well as a series of downloads and guides that explain everything from what the proposed changes are in a handy ‘Landlord’s Guide to CRAR’, along with a glossary of terminology and specific white papers covering the key changes.
A client who is quick to react and can identify the advantage in unpicking the legislation changes for the benefits of its client base will reap rewards.
dbs utilised this opportunity to undergo a brand repositioning exercise to establish its position as the leading authority on the new CRAR legislation. Read the full rebrand story here.