Industry events are ramping up, but how are you using them to support the prioritisation of spending on property technology?
We know the sheer volume of PropTech companies offering a huge array of solutions can be overwhelming at industry events - even for those with a watertight property technology strategy in place – and so the Trustek team have put together four tips for making the most out of the industry events such as CREtech, PropTech Connect and more.
1. Attend the event with a specific outcome in mind
It sounds simple but whether that’s coming away with a list of four potential tenant engagement app providers, or a broader knowledge of solutions for your building’s wider technology strategy, it is vital you go with a purpose.
It’s easy to get swept up in the buzz of solutions vying for your attention, all wanting their product to solve a challenge you may or may not have. Therefore, attend with a set outcome in mind to make the most of the event, your time, and the PropTech provider’s time too.
2. Go armed with a strong set of questions for PropTech providers
Use the outcome you want to achieve to craft a solid set of questions, relevant to your asset(s), for the whole technology lifecycle; from understanding to post deployment analysis.
What is the average ROI for a 65,000sqft building? Are there recent examples of that solution integrating with your access control system? Can those AMR solutions provide the right data for your portfolio wide ESG strategy (link to ESG data article)? Is that connectivity provider able to offer a scalable solution that aligns with your growth?
3. Prepare questions for your peers (and speakers)
Industry events such as PropTech Connect can be networking powerhouses with people attending from all levels and verticals within real estate. Consider how you make the most of this; do you want to share challenges, seek advice, build relationships?
Consider too, what it is you want out of the seminars you’re attending. Feel comfortable to ask for evidence of when things have worked well (or haven’t) from speakers and to debate a particular viewpoint.
4. Come away with more questions and do post event due diligence
It sounds counterintuitive but you want to come away with more questions for both the solutions you connected with, and for your asset.
Your original questions should have prompted further enquiry into your existing technology stack and should lead to follow up questions with technology providers, in the shape of additional evidenced information or a formal RFI.
Bonus tip: Have a thorough understanding of your existing technology stack
Understanding your asset or portfolio’s existing technology stack, plus knowledge of its gaps and opportunities for improvement, is a huge advantage when attending events such as PropTech Connect.
This knowledge provides the foundations of a strong technology strategy; helping to form the outcomes you want to achieve, shaping the questions you want to ask and the relationships you want to build.
Our Building Audits are the perfect way to efficiently, affordably and neutrally source this information, assessing not just your building's current technology, but the people who use it and the processes surrounding it. Enabling you to make informed, data backed decision ahead of 2024’s budgeting season around existing, and future, property technology.