Want Association Revenue Growth in 2014?

September 11, 2013

association revenue growthWant 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?

Stiffening Competition

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

  1. Competitive Analysis. Hard knuckle comparison to other Associations and solutions.   What are the gaps and opportunities?
  2. 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?
  3. Business model. Utilize the competitive analysis and the impact survey data to adjust shape a business model that accelerates your Association’s impact.

Buy In

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.

Is Your Association a Market Leader?

June 15, 2013

associationIs Your Association a Market Leader? Legendary business leader and former GE Chairman and CEO Jack Welch said ” if you don’t have a competitive advantage, don’t compete.”  Rightly so, Market Leaders consistently leverage their marketing prowess to dominate the sectors in which they serve. Failure to lead and compete effectively will result in a market share loss for Associations.

Market Leader Versus Market Participant

It’s risky for any Association to stay back with the pack. New coalitions, Association’s and Law Firms actively seek corporate funding tailored to meet short and long term policy or regulatory objectives. Competitive pressure builds constantly, Associations can ill afford to be passive.

Market Leaders that are astute: measure their impact in real time, execute multi channel marketing and communications strategies and continuously engage stakeholders and elected officials. They also build upon market strength, maintain their uniqueness, drive powerful value propositions while they meet and exceed their revenue objectives.

3 Strategies To Become a Market Leader

1. Build A Brand Fortress. Create and execute an ongoing marketing and communications program that emphasizes Association’s value proposition: providing insights, connections and advocacy for the industry. Be viewed as the premier Association leader in a sector. Issue experts visible in: social and traditional media, among elected officials and regulators.

2. Help Member’s Overcome Obstacles. The Association’s policy and regulatory agenda, grass roots programs, are harmonized to help members overcome legislative and regulatory hurdles.

3. Engage Members. Members view the Association as their strategic ally and their dues payments are perceived as an investment instead of an expense. The culture is seen as a community, members are invited to participate and share their perspectives. Staff, Members and Board Members see their roles as interconnected, everyone is working to achieve the same outcomes.

Market Leaders Consistently Execute and Deliver

Since they have a strong foundation, the Market Leader has clear cut objectives: Achieve policy and regulatory objectives, drive new membership growth, sponsor renewal and growth, sponsor sales, conference attendance growth.

Execution is a key aspect of a Market Leading Association, so much so that “getting it done” is ingrained in their DNA. Firing on all cylinders, they have regular team meetings to celebrate success and/or determine corrective steps to stay on target, performance rewards successful member engagement, advocacy and revenue growth throughout the year.

Is Your Association a Market Leader?

For several Associations, success and excellent performance are deliberate. These groups successfully transitioned from Market Participant to Market Leader. One Association became a market leader, built a brand fortress connected to member objectives and engaging members. By doing so they almost tripled revenues in just over two years. Another Association restructured an underperforming Division and achieved their first net gain performance in five years.

According to a recent Survey by the Business Roundtable, the “uncertain political environment” and unresolved U.S. Debt Crisis were identified as reasons for the economy showing only slight improvement. Achieving Market Leader status is as necessary as it is essential for Associations. As Companies evaluate their Associations, you can bet the Market Leaders will appear on the list of memberships to renew.  (http://bit.ly/1PACOCc)

For a free copy of the “Accelerating Strategic Member Engagement” eBook, request your copy at www.potomaccore.com.

association

Member Perspective: Should We Renew?

June 12, 2013

member perspective

On any given day a corporate executive receives a renewal invoice from an Association or a Society. By week’s end, several more renewal invoices cross the same desk. What happens next? It’s critical to know what happens next or chances are a letter of resignation is on the way. In an uncertain economy, corporations and individuals hold memberships to a very high standard. Organizations should look at renewals from a member’s perspective, doing so will help secure the dues and the member relationship. (http://bit.ly/1FBNn5j)

Life Inside Member Companies

A corporate executive that survives downsizing wears several hats. The days are packed with meetings, and weeks seemingly are spent visiting customers. Complicating matters, Publicly Held Companies are laser focused on quarter and year end results. Earnings results must meet or exceed stockholder expectations, there is no wiggle room. Life on the inside is tough, what can Associations and Societies do to uncover opportunities to uncover opportunities and deliver value?

3 Questions that  Help Earn Renewals

1. What is the dollar impact of policies on members? Not less than six months prior to renewal, meet with dues decision makers. Bring an legislative and regulatory impact statement to the meeting. Inquire how these issues will impede the company from achieving profit targets in the next five years. Vigorously quantify and qualify policy impact. ( http://bit.ly/1btcvac)

2. Are your member’s participating in areas that impact them? Knowing the policy areas that have the greatest impact, review and confirm  participation in the most critical areas to the company. Some executives may have transitioned out to a new company. If so, there is a new opportunity to engage new executives. Ask the company contact for an introduction.

3. Can we Confirm a Policy Briefing on “Pain Point” Issues with Issue Experts? Leverage an opportunity to demonstrate value on the member company’s “Pain Point Issue” Concerns. Ask the dues decision maker to invite the C Suite and executives to participate in a Conference Call, Video Conference or Webinar focused on their business outcomes. Make it easy to say yes by having a prepared invite for the company contact to send out right away.

Member Perspective: Should We Renew?

Member PerspectiveBusy executives welcome the opportunity to share their concerns.  However they appreciate an organization’s commitment to provide service in areas that impact their business objectives. Companies are tuned to their own channel “WIIFM” What’s In It For Me.” When they share their concerns, they will respond positively when they see engagement in areas that impede their business.

Unquestionably member renewals comprise a substantial portion of Association and Society revenues. Staying focused from a member perspective helps organizations focus on the dues payers.

Associations and  Societies around the country using this or similar approaches have celebrated success many times over. Secure membership bases helped some Associations reach stretch goals that may not have been possible otherwise. One Association doubled membership while another reached past the $1 million threshold in net dues growth. What made the difference at these Associations and Societies? The ability to see member business objectives as their own and, developing solutions to help members overcome impediments to meet or exceed their goals.

For a free copy of the “Accelerating Strategic Member Engagement” eBook, request your copy at www.potomaccore.com.

Member Engagement CEO?

June 4, 2013

member engagement CEOMember Engagement CEO? 

In today’s world the notion of “lead, follow or get out of the way” is a non starter. Durable volunteer armies are built on foundations of connectivity, transparency, collaboration and cooperation. The Member Engagement CEO needs those traits to transform their organizations into “we focused” communities where members impact outcomes.

5 Characteristics of a Member Engagement CEO

1. Culture Keeper. As a steadfast leader, the Member Engagement CEO permeates a member engagement culture throughout their Associations and Societies.  Rightly so, Management expert Peter Drucker points out that “culture eats strategy for breakfast.” If creating a member engagement community is the CEOs vehicle then culture is its engine.

2. CCCIC. The Communicator, Convener  & Collaborator in Chief, works seamlessly with the board, senior managers, staff and the membership.  He/she is always seeking feedback from members on products and services, obtaining guidance through focus groups and member surveys. Working with and coaching staff to devise solutions, the CCCIC keeps their eye on the ball. Policies, programs and activities continually reflect the connection to member business and personal objectives.

3. 20-20 foresight. The member engagement chief executive must have capacity to see around the corners. In a world where business cycles change at the drop of a hat, next year arrives faster than ever. Anticipating member business challenges keeps the Member Engagement CEO ahead of the game.

4. Inspirational.  Not so much by what is said but how it is said inspires and motivates stakeholders. Setting a tone of mutual respect and vulnerability, these leaders instill trust, and achieve strong team performance.  Member engagement CEO’s set high expectations and are found in the trenches always supporting their team.

5. Innovator. Challenging themselves and their team to constantly identify what’s next. Developing cutting edge solutions that help their Society or Associations maintain their uniqueness in the marketplace is in their DNA.

5 Real Time CEO Successes   

Demonstrating the potency of a “Culture Keeper,” an Association CEO unleashed an era of member engagement and remarkable revenue and member growth. Setting the culture at the outset positioned this CEO to far surpass expectations. For sure, “culture eats strategy for breakfast.”

As the “CCCIC,” a different Association CEO made the strategic plan update and the member survey a platform to further unite the community. The Association, despite a challenging market recapitalized its reserves, improved member retention and is seeking global growth opportunities.

In another example a CEO helped an Association with “20-20 foresight.”  A training or certification program that was previously dismissed is now being vetted for implementation. Executives coming into one professional field lacked background and skills and the Association is close to supporting the member’s business needs.

This CEO helped define what it means to be “Inspirational.” After turning around the financial fortunes of an Association, their leader insists on helping generate revenue. Staff at the Association agree their CEO is demanding, but noted that their Chief Executive is determined, hard working and fair. Needless to say, impressive financial results continue.

Always looking for “What’s Next” keeps this Association way ahead of the competitiveness curve.  This “Innovator” CEO uses a passion for the Association’s mission to develop new services every year of the last ten. Revenues grew as did member satisfaction and retention.

Member Engagement CEO? 

What rests at the center of the Member Engagement CEOs success? The drive and the extraordinary skills to build a durable volunteer army and a financially successful community.

In a tumultuous era for Associations and Societies, successful leaders embrace the mantra of the Member Engagement CEO. If proof is in the pudding, then each CEO example cited helped  bake the cake.

member engagement CEO

 

 

 

 

 

 

 

 

Free eBook “Accelerating Strategic Member Engagement” is available for all Association Executives at www.potomaccore.com,www.icimo.com,and www.verticalleapconsulting.com.

Social Media Connects an Association’s Global Community

March 7, 2013

Social Media Connects an Association’s Global Community. Many Associations embrace Social Media in order to reach and effectively engage members. Those CEO’s incorporating social media with their overall engagement and incorporating business objectives achieve greater ROI. Through the Strategic Planning Process, the National Investor Relations Institute (NIRI) www.niri.org, identified Social Media as an integral part of their strategy to build and reinforce its growing community of global Investor Relations Executives.

Engage Members at Their Desks

Steve Lane, President , Vertical Leap Consulting www.verticalleapconsulting.com notes “Real member engagement is all about “we”; bringing members together and facilitating the dialogue that leads to new solutions to their shared “pain point” issues”In a hyper paced world, a cyber community focus makes it easier to engage members to participate, share information and derive value from their member investment. Jeffrey D. Morgan, President and CEO reports that Social Media is a key element of his organization’s member engagement strategy.

Community Connection

As NIRI’s global membership expands, the Association looks to connect its members with one another and keep the conversation going. Morgan notes that a larger share of share of its membership growth is outside the United States making Social Media an important member resource.

Increasing Investment Expand Capacity and Capability

At a time when Association  memberships are more closely evaluated, member engagement and participation are increasingly important for Associations like NIRI. Vertical Leap Consulting’s Lane adds  “The principles of engagement are simple yet powerful:

  • As the perceived ability to impact outcomes increases,
  • Behaviors change from being a recipient of information to increasingly higher levels of contribution, and
  • Connectedness to the Association increases”

For NIRI and CEO Morgan Social Media is driving member engagement and so much so the Association is increasing its investment.

As NIRI’s member engagement accelerates so has the Association’s retention and new member growth.

How does Social Media Connect your Association’s community? 

Much more on Association Revenue Growth at  www.potomaccore.com/blog