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Breaking news. Executives and Professionals seek strategic solutions from their Associations. Facing increasing pressure to produce results, they only engage in activities that help them overcome business challenges and achieve results. Associations are meeting their new mandate, by energizing their Boards to do big things, and help their members thrive in an era of uncertainty.
Dan Varroney. Why Members Hire Associations – Potomac Core Consulting is pleased to announce that its President & CEO, Dan Varroney is being featured in a series of three podcast episodes. The series is part of a re brand of the weekly podcast series by renowned autho r JP Moery , President & Founder of the Moery Company. Moery released his book “ Association Hustle , Top Strategies for Association Growth” and the podcast is closely aligned with the tenets of his book, which p
Late Breaking News. Members Hire Constant Transformation. As Artificial Intelligence , the cloud, and virtual reality take hold , Industries will invest resources in Associations that are equally transformation focused. Despite profitability, Industries are using new technologies to prepare for whatever comes next. As a result, Associations must continually transform themselves if they want to keep pace with members.
Breaking. Members Hire Tomorrow’s Associations because they have no other choice. Global uncertainty and technological advances are forcing Members to make more informed decisions on how to spend their precious time and money. Members expect their Associations to be nimble, future focused, and having the speed and foresight to help move an Industry forward.
Associations have endured downturns before, what’s different this time is the valuable lesson learned after the great recession, that Members hire relevant Associations. Boards and their CEOs aren’t interested in hemorrhaging balance sheets that come from dues losses and shrinking Trade Show revenues. Regardless of the economic climate, organizations are committed to keeping their organizations relevant.
Since Executives are under constant pressure to produce results, it’s a safe bet they’re not looking for another business trip or a meeting to attend. What they are looking for are opportunities to address their company’s challenges and help position their Industry for growth. As Associations ponder their future strategies, the message is clear: Members hire industry advocacy and promotion.
The challenge for Association CEO’s is to understand how Private Equity Hires Associations, Private Equity Fires Associations. Simply put, the new Private Equity owners are not necessarily maintaining their Association memberships. Following the company purchase, new owners use concrete strategies that improve operations, products, revenues, and market position.
Members Hire Bold Strategies. Part of that boldness is how much their Industry Trade Association Strategic Plan reflects the challenges and business outcomes that members care most about. As busy executives are under constant pressure to meet and exceed profit targets, they expect the organizations they are part of to deliver bold strategies and results.
Members hire Customized Advocacy because they have no choice. They face turmoil driven by ever increasing new technologies , evolving consumer preferences , and political polarization. What’s more member companies are facing increasing demands for transparency from their board members, shareholders, and also from their consumers. Associations who customize their advocacy strategies will remain relevant.
Members hire Associations, Members fire Associations is what the new mantra will be for Association Executives in 2018. The evolving external environment is continually redefining how member executives assess the impact of their memberships. At year end 2017, Association Executives would find it useful to see the world as their members do and understand what help they need to make progress in their Industry or Profession.
Association Supply Chain Advocacy can be a game changer for members. By uniting the Supply Chain through Associations members can better influence the destiny of their company and their Industry in ways they could not do on their own. Getting and bringing an entire Supply Chain to the table at an Association is a heavy lift but the long term impact will make the effort yield substantial member ROI.
Driving Sustainable Industry Growth Helps Trade Associations Energize Member Engagement . With global economic uncertainty dominating most conversations, we’re learning that Trade Associations who drive sustainable industry growth are helping their organizations by energizing member engagement. Forward thinking CEO’s are utilizing Strategic Planning or Business and Engagement Planning to research Industry challenges and Business outcomes and then identify their Associations as extensions o
Data Driven Engagement is the best bet for Associations seeking to accelerate member engagement. Getting and keeping members engaged will be even more challenging. Economic uncertainty stemming from political gridlock and geopolitical risk remains widespread as corporations continue to increase their cash reserves at a “faster rate than expected.” According to a survey conducted by the Association of Financial Professionals ( AFP ), “This marks the fifth consecutive quarter where organizations a
Polarization in Washington, DC, and market disruption are opening doors for Associations to create more compelling member engagement experiences for their members. Associations can be more proactive and less reactive by providing more opportunities for their members to share knowledge and build new solutions that drive business and professional outcomes.
Strive to Be More Than Just Another Association . Associations who seek to grow or expand revenues need to be more than just another association. In today’s uncertain global business environment , associations must be perceived as extensions of company and industry business strategies and not be just another association. Those who are aligned with business challenges and outcomes are relevant because they relate to what really matters.
At the start of your board meetings do board members ask themselves “I hope they try selling stuff today?” Of course not. If anything, they want your organization to stop selling stuff. In today’s disruptive environment they are preoccupied with their business challenges and global uncertainty. Hearing endless staff reports and selling stuff is not where they are at anymore.
Are persistent growth challenges and global uncertainty opening different pathways for Trade Associations? In several instances, several Association CEO’s are utilizing radical transformation strategies to increase their relevance to the members and the industries they serve. Do Association’s need Radical Transformation Strategies to remain relevant enough to keep their members engaged over the longer term?
The 2017 PWC 20th annual CEO Survey , fourth quarter domestic GDP numbers and the 2017 Conference Board Global forecast of 2.3% economic growth show just how challenging business conditions are for business decision makers. Organizations can help their members convert these challenges into growth opportunities by utilizing 4 Association Disruption Strategies.
For leading Associations, their mantra is clear Advocacy Drives Business Outcomes. These organizations collaborate with their boards to make sure that the Association’s Advocacy Strategies reflect the growth challenges and opportunities that their members care most about. Even though the U.S. economy grew at a brisk 3.5% in the third quarter of 2016 growth forecasts for 2017 remain mixed.
Global economic challenges from modest growth to market uncertainty continue to drive changes on how Trade Associations deliver value. In several instances, CEOs are collaborating with their boards and management teams to transform their organizations into strategic partners. These Associations are playing activist roles, they are engaging industry value chains and promoting the value that the industry and its products bring to customers and the marketplace.
Sluggish global growth and U.S. growth , the race for talent, and disruptive innovation create opportunities for Associations and Professional Societies to become more essential. It’s all about alignment with industry and professional outcomes that your members care most about. Those organizations who utilize these 3 Association Growth Strategies can help impact member outcomes and as a result better position their members and their organizations for long term success. 3 Association Growth Strat
The flow of economic forecasts and performance , global crisis, disruptive innovation , and the real time updates on the U.S. elections are mind numbing. The constant stream of information reminds association executives just how complex the world has become for your members. How can your organization utilize its strategic planning process to help your members in new and different ways that increase your association’s relevance ?
Market uncertainty and the pace of change will continue to impact membership decisions at professional societies and trade associations. Looming external factors will play a significant role in how membership decisions will be made. The outcome of the U.S. Presidential and Congressional Elections, economic performance inside and outside the United States, mergers and acquisitions, baby boomer retirements , terror threats, and technology disruptions will influence whether or not professionals
. The Brexit vote in the United Kingdom along with modest and subdued global economic growth will continue to affect corporate decisions on external costs not related to top line growth and operating performance. Associations in a number of instances are increasingly more relevant , and have strategic objectives closely aligned with the industries they serve.
In an evolving and complex world , is it possible for associations to become vital to the industries they serve? Today’s norm means slow or uncertain market growth , member expectations of direct return on engagement , and an emerging view that an association either drive or facilitate market disruption. As organizations consider these factors, is becoming a vital association too tall an order to fill?
It’s been seven years since the end of the great recession and one economist thinks there is a 60% chance of a recession next year. As global uncertainty and slow U.S. economic growth dominate the landscape, CEO’s should assess whether or not they are leading a recession ready association. While the next recession may not be as severe as the last one, be rest assured that business leaders are continually increasing scrutiny over expenditures not related to corporate performance.
In an era of unending economic challenges and uncertainty, industries must be relevant in order to grow. KPMG’s 2016 report “Setting the Course for Growth: CEO Perspectives” underscores how today’s CEO is laser focused on staying relevant in a turbulent global market. In order to remain relevant to their members Trade Association CEO’s focus more on understanding industry challenges then helping drive industry outcomes.
Where are CEO’s planning to spend their time in 2016? According to a KPMG study of 400 Chief Executives, “34% spend more time with regulators or are considering doing so.” The same report notes the regulatory environment as the number one issue that can “impact a company”, and adapting to government regulation is ranked as CEO’s second most critical challenge.
In a growing trend, Association CEO’s and their Board Members are utilizing economic data as important context for their strategic deliberations. Jobs data, Housing Starts , Institute for Supply Management Index (ISM) , Oil Prices , Consumer Spending , and U.S. Dollar Performance against other currencies is a more frequent topic at Association Strategic Planning Sessions.
Can positive association disruption reverse the fortunes for industry professionals and an organization? In a weak economic growth environment, it’s a daunting task. According to the 2016 PWC U.S. CEO Survey concerns “over volatility and over-regulation are rising.” What’s more, Reuters reported that retail sales slipped in a recent report and fourth quarter U.S. economic growth was only 1%.
Can Disruptive Advocacy Strategies unlock industry growth and cost saving opportunities for your members in a slow growth economy? While the possibility of a recession seems unlikely this year, growth remains a challenge for many industries. According to the Conference Board , U.S. growth in 2016 is forecast at 2.0% while Global growth is forecast slightly higher at 2.5%.
Disruptive Innovation “describes a process whereby a smaller company with fewer resources is able to successfully challenge established incumbent businesses.” In a slowing and uneven global economy, are your members looking somewhere else for lower cost and innovative solutions? Are your members less confident about their growth opportunities than they were a year or two ago?
Ring in the age of Driverless Associations. It’s 2016 with Medical , and Pharmaceutical breakthroughs, Driverless cars , and industries that are busy producing a new wave of technological breakthroughs. Slow U.S. GDP Growth and modest improvement in Global Growth appear to be the bellwethers of even more technology advancements. These innovations help capture consumer imaginations, elevate company operating performance, and grow market share.
Anemic economic performance is unfortunately becoming a mainstay in the U.S. economy. The release of the 3 rd quarter GDP numbers where only 1.5% growth was reported is another reminder of how much the ground is shifting for associations. Companies will likely view membership through an even narrower prism of operating margins if economic conditions weaken further.
Associations are increasingly well positioned to help members and industries build innovative workforce solutions through their professional development and certification products. As waves of innovation, millennials, and baby boomer retirements alter future workforce design, forward thinking organizations can transform themselves and become professional development partners for their members.
In his book “Pour Your Heart Into It: How Starbucks Built a Company One Cup at a Time” Howard Schultz, Starbucks President & CEO says “Vision is what they call it when others can’t see what you see.” In a slow domestic growth and a global uncertain economy, how will the future state of associations be defined? Disruption. Demographics, global political and economic changes and challenges, massive industry consolidation, the gig economy, driverless cars , as well as jobs (and industries) bei
Are economic tides shifting again? According to the Conference Board , corporate profitability may face headwinds resulting from higher costs as “the business cycle matures.” They also suggest that “America’s strength in technological progress needs to help accelerate productivity.” If member companies introduce more innovation to drive more profitability, is your association positioned to respond with equal or greater amounts of innovative solutions?
. The Wall Street Journal recently reported that if the current trend continues, Data provider Dealogic estimates that Global Mergers and Acquisitions will climb to and exceed $4.58 trillion in 2015. In a low growth economic environment, corporations seeking growth are actively pursuing the best merger combinations. Although associations don’t control the external business environment, they do have the ability to move away from a “here is what we do for you “posture to a “together we succeed” p
With so much new technology available, should associations develop an innovation strategy? Not necessarily. Your association might want to understand what strategic initiatives it should put in place in order to drive your organization’s impact on member business outcomes. If technology is a delivery mechanism to deliver impact on member business outcomes, then it’s an example of Association Outside In Innovation.
In an economy more driven by intellectual capital than ever before, executives actively seek information from multiple sources. Whether it be Greece’s Debt Crisis , market access concerns, or industries seeking new and more opportunistic markets, your members are “in the know” constantly. Is it more impactful to deploy an Association Loyalty Strategy or an Engagement Strategy?
Improving Association Retention Performance. What Association doesn’t want to slow down its Member Resignations and improve retention performance? Member losses are difficult especially when an Association loses larger members. Yet the painful lessons from these resignations can help your organization reposition itself and drive accelerated member engagement and achieve improved operating performance.
When is the timing right to embrace innovation and change at your Association? Some argue that with an improved economy its best to leave well enough alone. Maybe, no. The real question? How well are you positioned to help your member’s achieve their business outcomes in a time of dramatic innovation and change? ( [link] ). Strategic Inflection Point.
When your Association’s founders first convened, did they envision hiring staff that would sell products and services? No, they identified like minded companies who shared the same challenges understanding that they could achieve greater impact together that individually. [link]. Strategic Alignment. Creating a board and member driven process that identifies member “up-at-night” issues is only a first crucial step.
Association executives inside and outside of Washington, DC sometimes struggle to secure key executive participation in advocacy meetings with Congressional representatives or regulatory agencies. Do members perceive these meetings as another Association “output” or as an opportunity to drive their business outcomes? If it’s the former, executives are hesitant to leave their office or rearrange their schedule for something not linked to a business outcome.
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