Want Association Revenue Growth in 2014? Association CEO’s and the senior management teams are looking ahead. Budget discussions are underway and board leadership wants to see an Association revenue growth budget. Corporate profitability is rebounding and the expectation is that Associations too will achieve the same level of robust growth. What can Associations do to improve their competitive edge and grow in 2014?
Renewals remain challenging and while organizations are seeing increases in new member growth they wonder how long it continues. It’s not just the economy anymore, Association Executives for the most part are experiencing increased competition. For profit companies continue to enter markets once owned exclusively by Associations. In addition, new solutions including Not for Profit organizations, coalitions and consulting companies are offering competing products and services.
Sharpen Your Competitive Edge
Thanks to new technologies, data is more accessible than ever before. Associations who capture, interpret and apply data driven strategies can dramatically improve their competitive positioning. In a real time world data provides Associations with speed to market.
These 3 Steps Work
- Competitive Analysis. Hard knuckle comparison to other Associations and solutions. What are the gaps and opportunities?
- Impact Survey. Engage your members. For example, products, services and advocacy. Are they impactful? What can your Association do to best connect to member business needs and objectives?
- Business model. Utilize the competitive analysis and the impact survey data to adjust shape a business model that accelerates your Association’s impact.
Share the data with your executive committee; seek their input on accelerating your Association’s impact. Engage your senior management team. Work with them to build a vision in that closely reflects the data and the executive committee’s perspectives. They will see the staff efforts as prudent and timely.
Want Association Revenue Growth in 2014?
A number of Associations are experiencing membership growth and increased participation. Recognizing heightened competition they utilized data driven strategies to improve their competitive position. In some instances Associations doubled revenue. How? Better differentiated value and accelerated member participation.
For a free copy of the “Accelerating Strategic Member Engagement” eBook, request your copy at www.potomaccore.com.