Reimagining Industry Growth: Groundbreaking New Book

 

Reimagining Industry Growth

Arlington, Virginia, September 16, 2021 –  Reimagining Industry Growth, an insightful new book on how to tap into the potential of strategic partnerships with industry associations, is slated for release by Wiley Publishing on January 12, 2022. The book offers a blueprint on how to harness the power of leading industry associations as strategic partners. Executives, managers, business leaders of all kinds, business students and professors, and association executives will find the book enlightening. Daniel A. Varroney is the book’s author and is the founder of Potomac Core – Association Consulting, the northern Virginia strategic consulting firm that specializes in association transformation and building industry and association strategic partnerships.

Reimagining Industry Growth provides an overview of strategic partnerships, how they work, and how they can be applied to industry relationships with trade associations. It includes:

  • Illuminating and factual case studies outlining strategic partnerships in five different industry segments.
  • Roadmaps for executives to apply the lessons learned from industry success stories on leveraging relationships with trade associations.
  • Advice on how to move the needle for entire industries via effective strategic partnerships and achieve unprecedented growth.
  • By utilizing those partnerships, business leaders will become able to leverage the collective strength of the supply chain to overcome challenges, address uncertainty, mitigate risks, and position their industries for growth.

“What’s clear nowadays” notes Varroney “is that forward leaning trade associations have launched high impact strategic partnerships with the industries they represent. In each of our case studies, they provide some spectacular examples of what is possible when customer care and business prowess are combined with a relational mindset.”

Reimagining Industry Growth is receiving early praise from Industry Leaders and Trade Association CEOs. Kelly Kidwell, Immediate Past Chair of Finseca (an industry and professional trade association), CEO, Pacific Advisors “Dan’s intriguing propositions offer surprising revelations to achieve collaborative growth through strategic relationships with real-life case studies. Every CEO, executive and board member could benefit from reading Dan’s book.”

The book is available for pre-order at Amazon, Barnes & Noble, Books-A-Million, Indie Bound, and Wiley.

Post Covid-19 Trade Association Strategic Imperative: Build Core Strengths Beyond Federal-level Advocacy, Representation, and Legislation

trade association

 

A groundbreaking survey among 117 trade association executives surfaces new and significant opportunities for Trade Associations in a Post Covid-19 world. Actionable data about how organizations can build their strategic imperative and position for long term growth and success is uncovered through a collaborative survey conducted by Arlington, Virginia based Potomac Core – Association Consulting and Edge Research. It showed the need for trade associations to be nimble, a member resource, industry promoter, and collaborator with stakeholders within each industry.

Trade Association CEOs perceive Federal-level advocacy, representation, and legislation as a top priority to industry professionals and they rate their associations highly on this key metric. Anyone familiar with trade associations should have expected that result.  At the same time, they see opportunities for industry professionals and industry growth that trade associations can build upon:

  • Serving as a top resource for information, updates, and trend reports.
  • Flexibility/nimbleness to meet new challenges.
  • Raising public awareness/Improving public perceptions of the industry.
  • Expertise on key issue areas and market trends.
  • Regularly engaging with/taking the pulse of members to understand & center their needs.

As one participating CEO noted “The disruptive nature of the pandemic forces a redefinition of member and industry value. Moving forward, organizations have opportunities to improve alignment with emerging member and industry expectations. Essentially, this research opens the door to a new strategic imperative for trade associations and CEOs.”

CEOs took action to address or meet challenges brought on by Covid-19. Nearly nine in ten (88%) said they made changes, of those 31% said they made significant changes and 57% made some changes CEOs completing the survey provided insights into the actions taken on behalf of the association and the members they serve:

  • Significant Changes (31%)– Very proactive association, including Listening closely to members, adapting to a virtual environment, and making financial decisions to maintain the association’s financial viability.
  • Some Changes (57%) – More deliberative changes including Thinking through new approaches to member engagement and aligning staff resources around the future.
  • Not too much Change (12%)- Staying the course and not seeing much impact from Covid-19.

When it comes to the trade association’s work environment today, CEO’s report that 69% of staff are working from home, 26% have some staff working at home, and 4% with all or most staff working in the office.

At the other side of Covid -19. more than one year into the pandemic, and taking into account financial conditions and market factors, Trade Association CEOs describe better market conditions for the Industry.

trade association

 

(51% better) they represent than for their own Association’s situation (34% better). However, looking ahead five years, CEOs are optimistic for their Industry (76% more successful) and for the Associations they lead (83% more successful).

The research study also identified non Covid – 19 trends impacting Associations during the past year. CEOs offered their perspectives in four key areas:

  • Technology/Communication – Zoom, video, and social media enabled higher levels of senior level engagement at companies
  • New Administration and Congress – Change from republican to democrat control drove higher investment in government and regulatory affairs activities.
  • M&A/Industry Consolidation – The trend continues, it presents greater challenges on revenue models, in some cases drives organizations to provide more international resources, and results in corporate travel budget cuts.
  • Social Issues/DEI – Trade associations report different responses with one discontinuing public policy and reallocating funds to diversity and another intensifying the association’s focus on DEI and how to address racial inequities in society.
trade association

Jon Kulok

 “Thanks to the impressive vigilance, determination, and guidance of our Strategic Guidance Lab CEOs. We’ve been surfacing and working through these issues for the past year notes Jon Kulok, Principal at Edge Research. Some of the issues identified through the SGL were validated in our research, especially as CEOs look ahead and identify the capabilities needed to build or transform the trade association of the future”:

  • Flexibility – Many acknowledge the need to better anticipate industry changes and have the capacity to move more quickly to adapt to challenges and opportunities.
  • New Revenue Streams – Revenue diversification to help organizations steer away from large conference revenue dependence.
  • Better Education Offerings – Offering a wider variety of training and education resources to support members and industry segments increase the skills of the workforce.
  • Understanding Member Needs – Utilizing research to better understand evolving priorities and have the ability to focus on member roi.
trade association

Dan Varroney

Potomac Core President, Dan Varroney notes “Through this research and other client research, we’re learning how essential it is for organizations to build beyond their robust advocacy foundation. These results reflect a new call to action for trade association CEOs. It’s about delivering value plus offerings  helping members deal with a rapid pace of change and uncertainty.”

Survey Methodology 

Interviews were conducted among 10 Trade Association CEO members of the Strategic Guidance Lab.

The online survey conducted April 7 to April 30, 2021, among C-level Executives leading professional, trade, and industry associations has 117 completing the survey: 115 CEO/President and 2 Other C-level, e.g., CMO, CFO, & COO.

About Potomac Core – Association Consulting

Potomac Core’s end-to-end process develops market research, strategic assessments, Go-to-Market plans, and roadmaps that transform organizations into essential investments. We help implement new strategies that align the right strategic initiatives to reach the right audience, identify the right growth opportunities, and energize industry and member engagement. For more information, please visit www.potomaccore.com.

About Edge Research

Working in partnership with you, we’ll get to know your world and your specific objectives, and then develop a tailored research approach. We provide partner-level attention throughout the process and deliver reports that tell a clear, actionable story and embolden your organization to make data-driven business decisions. We help clients of all sizes uncover the insights needed to make their products and programs successful. For more information, please visit www.edgeresearch.com.

About the Strategic Guidance Lab

Launched at the start of the global pandemic (April 2020), the SGL, engages 47 CEO members through monthly pulse surveys to remain current in new and emerging trends, brown bag lunch zoom calls, and a private Slack Channel. Daniel A. Varroney serves as Moderator, and is assisted by Jon Kulok, Principal of Edge Research in Arlington, Virginia, and  Dr. David Rehr, Research & Advocacy Consultant and Professor & Director of the Center for Business Civic Engagement at Schar School of Policy and Government, George Mason University in Arlington, Virginia.

Request Copy of the Survey Research Report

Copies of the report are available to Trade Association Executives. Please send your request to team@potomaccore.com. Make sure to include your name, organizational email address, name of the organization, and phone contact information. 

Hire Associations

Podcasts: Why Members Hire Associations

Hire Associations

    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 author JP Moery, President & Founder of the Moery Company. Moery released his bookAssociation Hustle, Top Strategies for Association Growth” and the podcast is closely aligned with the tenets of his book, which provides an actionable blueprint for “association entrepreneurism” needed in today’s organizations.

Hire Associations

    JP Moery

The “Association Hustle” podcast includes discussion of the three types of 21st Century Associations & their CEOs, who address challenges and provide business solutions for Industries:

First Podcast – Constant-transformation associations: Global Cold Chain Alliance, News Media Alliance, & Association for Unmanned Vehicles:

Embracing a new value imperative and recognizing that Members Hire Constant Transformation is a large part of what future focused Associations do. And while relevance is necessary for organizational survival, it’s not enough in this disruptive and uncertain era.  Some leaders already acknowledge that relevance by itself can’t be a winning strategy in a dynamic business environment. They emphasize a need to evolve past relevance, and in doing so they’re fueled with entrepreneurial spirit, constant transformation, and an organizational thirst for commercial success.

 Second Podcast – Tomorrow’s associations: Helicopter Association International, International Sign Association, & the Health Industry Distributors Association:

  • Using relevance as their foundation, these organizations conduct research and engage boards and members to identify and address the next set of Industry challenges. They also understand the Industries business model from product design to marketplace, and the staff teams approach everyday as an act of invention.

Third Podcast – Relevant associations: The Aluminum Association, National Association of Independent Schools, American Cleaning Institute, & The Smart Electric Power Alliance:

  • Relevance is about being connected to the member marketplace with resources geared toward helping your members overcome challenges & achieve success. Associations who utilize this approach understand that Members hire relevant Associations, which means these organizations are built to withstand downturns and thrive during healthy economies. What makes these Associations especially relevant is how their strategies and products position them as either “Industry or Profession solution partners” with their Boards and members.

New Podcast Series: Why Members Hire Associations

The first podcast is already available, the second podcast will be posted on June 19, 2019, and the third podcast will be posted on June 26, 2019. For more information on Why Members Hire Associations, please contact Potomac Core Consulting at (703) 878-8786, team@potomaccore.com, or The Moery Company at (571) 814-3675.