A snapshot by the Conference Board of both the U.S. and Global Economy doesn’t necessarily paint the rosiest of pictures GDP growth is projected at 2.9% in the United States while economic performance in the rest of the world will be shaped by “volatility.” In what appears to be a low growth scenario, how and to what extent can Associations be transformed into market disruptors that support market growth?
Be assured that the current slow growth environment or an economic downturn will inflict significant pain on your revenues and membership at some point. Organizational Association balance sheets took significant hits in 2008 and 2009, and there little reason to think otherwise in the current environment. Knowing this should CEO’s maintain traditional Association product and service offerings or should they analyze strategic alternatives?
New products and services penetrating the marketplace have disrupted the U.S. economy from the start of the Republic. At each turn throughout our history, new entrants reshaped a dynamic marketplace. With big data, predictive analytics, and emerging technologies new companies are in several instances upending the marketplace and driving innovation and boosting higher levels of productivity.
Can an Association go beyond traditional roles and provide nontraditional solutions to industries in a slow growth environment? Are boards and volunteers ready for their Association to position and help drive their industry positioning and growth in domestic and international markets?
Since the great recession for profit firms are aggressively developing innovative solutions and products to more immediately help companies address business challenges and grow revenue. Why can’t your association play the same role?
Free eBook “Accelerating Strategic Member Engagement” is available for all Association Executives at www.potomaccore.com.