Attending industry conferences is vital for professional growth, networking, and staying abreast of innovations in the rental housing industry. However, recent experiences with the #TexasApartmentAssociation (TAA), the #NationalApartmentAssociation (NAA), the #NAACultivate conference, and the #ApartmentInnovationandMarketing (AIM) conference have exposed significant barriers to full participation, particularly for those in consultancy roles or for non-exhibiting and non-sponsoring vendor/supplier/partners. Despite #AIM being positioned as a prime event for industry decision-makers, and #NAACultivate focusing on fostering collaboration, their restrictive attendance policies and high sponsorship costs create obstacles for broader inclusion and innovation.
The Issue at Hand
At the TAA ONE Conference, despite paying a $2,225 registration fee as a non-exhibiting vendor/supplier/partner (which is four times more than what an owner/operator pays), my company was not permitted access to the Expo Hall. This restriction severely limited our ability to engage with industry peers and explore the latest innovations. As a paying attendee, I expect full access to all conference areas, but this limitation significantly undermined the event's value.
We have strategic partnerships with many exhibitors, so being told that I was not permitted on the Expo floor was especially disappointing. The Expo is a prime venue for networking, discovering new technology, and building partnerships. This exclusion not only impacted our ability to connect with potential partners but also diminished the overall conference experience.
Creating an environment conducive to genuine connection and collaboration should be the cornerstone of any conference experience. It's essential #TAA reconsider these restrictions and prioritize inclusivity in future conference planning. As a first-time attendee of #TAAONEConference, I feel compelled to voice my concerns to advocate for necessary changes to ensure that all participants have equal access to networking opportunities.
Recent Experience with NAA
I recently paid a $1,195 registration fee for the #NAACultivate conference in Austin. A few weeks later, I received an email from #NAA stating:
"Unfortunately, The Revenue Method is a supplier member of NAA and therefore ineligible for registration. The only way for suppliers to be able to register is to sponsor the conference."
This email exemplifies the exclusionary practices that hinder equal participation and stifle the potential for valuable networking and collaboration. As an entrepreneur offering services to owners and operators, I am now excluded from attending the same conference as them, which is both frustrating and counterproductive. Why can't vendors/suppliers/partners/consultants continue to learn, grow, and innovate in the same ways owners and operators can?
Furthermore, the sponsorship opportunities for NAA Cultivate are prohibitively expensive. To secure just one free registration, a minimum sponsorship of $15,000 is required. Even sponsoring the Wi-Fi at $5,000 doesn't provide a registration pass.
Concerns with AIM Conference
The #ApartmentInnovationandMarketingConference (AIM) is celebrated as the premier event for connecting decision-makers in the multifamily industry. It boasts unparalleled opportunities for networking, learning, and solving business problems, with a focus on enhancing the resident experience through effective marketing, smart building automation, advanced data analytics, and innovative business models.
However, AIM's exclusivity raises concerns. Attendance is limited to multifamily community owners, operators, and sponsors, excluding non-sponsoring vendor partners. With a minimum sponsorship cost of $8,000, this policy restricts broader participation and potentially stifles innovation.
If AIM's goal is to improve the resident leasing and living experience, it should foster a more inclusive environment. Allowing diverse industry professionals, including non-sponsoring vendors, to participate would enrich discussions and contribute to the industry's advancement. Ensuring all voices can contribute aligns with AIM's mission of operational excellence and industry progress.
Contradiction to Mission of Inclusivity and Innovation:
At the #MultifamilyInnovation® & AI Summit, a stark contradiction arises between the registration fees for multifamily vendors and owners/operators. While a vendor's minimum sponsorship costs a hefty $15,000, an owner/operator enjoys access for just $1,497. This discrepancy seems to undermine the event's mission of fostering innovation and redefining the multifamily industry. Although the Summit focuses on unlocking AI's potential and creating better experiences, its pricing structure does not reflect a commitment to equal opportunity. The high cost for vendors not only limits their participation and highlights a lack of innovative approach in fee structuring. To truly drive change and inclusivity, revisiting these fee disparities could align the Summit’s practices with its ambitious vision.
Disparities in Participation Costs
The disparity in registration fees between different types of attendees at rental housing industry conferences is stark and concerning. As illustrated in the table below, the costs for non-exhibiting vendors/suppliers/partners/consultants are significantly higher than those for owners and operators.
For instance:
At the #TAAONEConference, non-exhibiting vendors/suppliers pay $2,225, which is more than four times the $525 fee for owners/operators and does not include access to the Expo Hall.
#NAAApartmentalize charges non-exhibiting vendors/suppliers/partners/consultants $3,000, almost three times the $1,080 fee for owners/operators.
The #NAACultivate conference and #MultifamilyInnovationSummit take this disparity to an extreme, requiring a minimum sponsorship of $15,000 for vendors/suppliers/partners/consultants to attend.
The #AIM conference requires a minimum sponsorship of $7,500 for vendors/suppliers/partners/consultants to attend.
The #MultifamilyWomen's Summit charges non-sponsoring vendors $1,897, nearly twice as much the fee for owners/operators.
In contrast, conferences like #RetCon, #BluePrint, and #NMHCOptech embrace a more inclusive pricing model. #RetCon and #BluePrint offer all-access passes for a reasonable fee, and even provide free attendance for early-stage startups and media/press, regardless of industry role. #NMHCOptech sets a single rate for members, with a modest difference for non-members, welcoming all attendees -- owners, operators, and non-owner/operators alike -- at these rates. Additionally, #NMHCOptech ensures that every attendee has access to the exhibit hall.
This inclusive approach by #RetCon, #BluePrint, and #NMHCOptech not only accommodates tight budgets but also fosters innovation by ensuring fair and equal opportunities for all participants, whether they are owners, operators, vendors, suppliers, partners, or consultants. Adopting such models could significantly enhance the value and accessibility of rental housing industry conferences, promoting a more equitable and collaborative environment.
Aren't we all there to network, learn, and do business? Who's to say that a fee manager trying to get a new business deal is any different from a vendor, supplier, partner, or consultant with the same goal? Shouldn't everyone attending these conferences have equal access to networking and learning opportunities?
Moreover, isn't the registration fee typically a tax-deductible expense? If every company benefits from these tax advantages, why is there such a stark difference in the price we are asked to pay? This disparity undermines the spirit of these conferences and creates an unnecessary divide among attendees. Equal opportunities should be provided for all participants, regardless of their specific roles within the industry.
A Proposal for Inclusive Pricing
One potential solution to address these disparities is to standardize the registration fee for all attendees, regardless of their role in the industry. By setting a uniform registration fee, conferences could eliminate the financial barriers that currently prevent non-exhibiting and non-sponsoring vendors/suppliers/partners/consultants from fully participating.
#TAA, #NAA, and #AIM could learn from #BluePrint, #RetCon, and #NMHCOptech's more inclusive pricing models. This approach helps ensure fairness and equality for all industry roles.
For example, increasing the base registration fee to a mid-range price that is fair for all could create a more inclusive environment. Instead of charging significantly higher fees for certain groups, a single price point could be established to ensure equitable access.
This approach would mean:
Owners/operators and vendors/suppliers/partners/consultants pay the same fee.
The fee is set at a level that covers the cost of the event while promoting inclusivity.
Everyone benefits from the same networking, learning, and business opportunities.
Perhaps this all-access approach is why more folks from the rental housing industry are among the growing number of attendees at #RetCon, #BluePrint, and #NMHCOptech. Their more inclusive and innovative pricing models are attracting a diverse range of participants, highlighting a shift towards fairer access and broader engagement. By adopting a single, uniform registration fee, conferences can better reflect the collaborative spirit of the rental housing industry and ensure that all participants have the opportunity to contribute to and benefit from these vital events. This adjustment would be a significant step towards fostering a more equitable and inclusive conference experience.
A Call for Change
Why are vendors/suppliers/partners/consultants restricted from attending some of the social events, expo halls, and nighttime gatherings unless they are exhibiting? Some of us don't need to showcase products or services to contribute, yet we're still denied the same benefits of conference participation. Moreover, why is the CEO of a consultancy required to pay five times more than the CEO of an owner/operator? This hardly seems inclusive.
Additionally, it's worth noting that while #RetCon and #BluePrint offer free admission to startups, if that startup is a consultancy or professional services company, they are excluded from these benefits. This discrepancy further highlights the uneven access to opportunities within the conference landscape. A startup is a startup, regardless of its specific role in the industry.
Shifting Dynamics in the Industry
A noticeable trend is that owners and operators are now exhibiting at conferences like NAA Apartmentalize. #GoldOller was among the trends and trailblazers this year!! (I wrote a separate article on that here.) This shift might necessitate even more space to accommodate both vendors/suppliers/partners/consultants and owners/operators wishing to exhibit. Many vendors/suppliers/partners/consultants are opting out of exhibiting due to high costs and minimal returns, leading to a reevaluation of the value these expos offer.
There's also a trend where owners and operators host happy hours for their favorite vendor/supplier/partners, which traditionally would have been the other way around. This indicates that owners and operators want to engage with vendors, suppliers, partners, and consultants and are seeking strategic partnerships outside the confines of expensive exhibition spaces.
This year, one OG sales executive, who shall remain nameless, shared his secret strategy with me: For NAA Apartmentalize, he flies in the day before the committee meetings start, attends those meetings (which are free for anyone to attend), and connects with the C-level executives during those initial days. This is his way to get face time with all the clients and potential clients he needs to meet, all while avoiding the conference registration fee and not paying to exhibit. Yet, he still manages to network effectively and get home before the conference even begins. #Brilliant This strategy highlights that one might not even need to register for NAA Apartmentalize at all if they can attend committee meetings and engage with executives beforehand.
Moving Forward
As someone deeply passionate about driving change and innovation in the rental housing industry, I will continue to use this platform to advocate for a more inclusive and equitable conference experience. I urge conference organizers to reconsider these restrictions and embrace inclusivity. By doing so, they will foster a more vibrant, innovative, and collaborative industry. My hope is that future iterations of these conferences will provide all participants with equal opportunities to network and engage with industry peers, regardless of their role or the nature of their contributions.
Inclusion should be at the heart of our industry, and it starts with ensuring that every voice can be heard, every perspective can be shared, and every participant can engage fully.
Rejecting the Vendor Label
By the way, I really despise being called a vendor or a supplier. I am not a vending machine, and I don't supply parts. I am a business owner, CEO, Founder, Entrepreneur, HBIC, Industry Advisor, Revenue Advisor, and Consultant. More importantly, I'm a risk-taker, which is why I have the gumption to write this blog post, despite it going against societal norms and ruffling some feathers. This perspective may not be the popular opinion because, frankly, there are more owners and operators than there are vendors, suppliers, partners, and consultants. However, it's crucial to speak up for the underrepresented voices in our industry. We are more than just our labels; we are integral parts of the industry's ecosystem, driving innovation and providing invaluable expertise. By embracing our diverse roles, we can foster a more inclusive and collaborative environment for all.
I am going to get down off my soapbox for now, but I will continue to advocate for change using my platforms and my audience. I may not represent the majority, but I have a voice, and I plan to use it to drive meaningful change and innovation in the industry I have been a part of for nearly three decades. Let’s work together to create a more inclusive and equitable future for our industry.
Until next time,
J Schu
🔗 Check out therevenuemethod.com for more details, or book a consult at calendly.com/therevenuemethod.
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Sources:
nmhc.org/meetings/calendar/OPTECH/2024-optech-conference-expo/
Joani's Personal Experience Conferencing in 2023 and 2024
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