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? Does your membership perceive your association as being aligned with their business and professional goals? Having actionable data that answers these questions is more important than ever for associations in a world of disruptive innovation.
Business Success Redefined
A challenging and dynamic economy are changing the definitions of success for global companies. According to PWC’s 2016 Annual Global CEO Survey, “Redefining Business Success in a Changing World,” there is a difficult road ahead for global companies including “over regulation, higher tax burden, governments’ response to fiscal deficits, and geopolitical uncertainty.” In order to be successful, companies are adapting and are looking to “technology for answers.”
Before smaller for profit vendors beats your association to the punch, determine how research and strategic conversations with your board surface new opportunities to help your member companies address today’s evolving challenges. This can help to move your association away from a traditional “one size fits all” model to a more effective and segmented member engagement model.
Big Data Strategies
Utilizing extensive data and research, your Association can set the table for meaningful discussions around:
- Critical business and career concerns.
- Your association’s alignment through programs and services to support business and career outcomes.
- Member expectations of how your association can help them achieve success in challenging times.
- Insights from members on what resources they require to be successful.
- Detailed profiles for key audiences within your membership.
Segmentation Drives Direct ROI
In a world of disruptive innovation, for profit companies and other association competitors are seeking time and speed to market. For your association to compete effectively, you can develop real time audience profiles and go to market strategies that specifically address critical business and career concerns.
Where is the unique value for associations? The understanding of each member audience need and through “knowledge sharing” within each of your audiences. The audience focus and knowledge sharing accelerates the direct return on investment for your members.
Strategic Segmentation Opportunity for Associations
What do U.S. CEO’s Expect in 2016? In the “Driving Business Growth in 2016” study of U.S. CEO’s, a key CEO priority is to “ready millennials for leadership roles.” With this in mind, associations can create or redesign a career stage strategy with specific focus on millennials. Building a research base and thoughtful segment profile will help position your association as the industry’s workforce development partner.
There are other opportunities that can be identified with impact surveys (instead of standard member satisfaction surveys).
Disruptive Innovation Creates Association Opportunities
In order to remain competitive, companies are seeking more innovation on a regular basis. Leveraging Big Data to identify audience specific opportunities to support member business and career success can keep your association relevant in a world of increased disruptive innovation.
Free eBook “Accelerating Strategic Member Engagement” is available upon request for all Association Executives at www.potomaccore.com