3 Strategies CEO’s Use to Double Association Revenue
No surprises at end of the first quarter 2013. Political gridlock looms over Washington, DC, a tough and competitive environment for U.S. companies exists and Associations still face an uncertain environment. Regardless, some Associations formulate consistent paths to double digit growth. As remarkable as it sounds, these Associations are well ahead of the curve.
With 75% of the calendar year remaining, Association CEO’s can look to real time examples they can apply to quickly reverse their fortunes and deliver strong membership and revenue growth.
3 Strategies CEO’s Use to Double Association Revenue:
1. Data Driven Strategies
Association Strategy Consultant and Potomac Core Blog Contributor Steve Lane, Vertical Leap Consulting www.verticalleapconsulting.com identifies these as “member up at night issues.” Rightly so, these are the issues that matter most to the companies paying dues to Associations. This focus also helps Associations measure the impact they have in real time. Relentless identification of key driver issues is a key characteristic of Associations who drive double digit growth.
Tino Mantella, President and CEO, Technology Association of Georgia (TAG) www.tagonline.org utilizes an annual Decision Maker Study (see blog post http://bit.ly/1n1RP0Z) . The Data confirms value delivered and uncovers new opportunities to address members concerns. It provides actionable intelligence helping to shape programs and activities throughout the year. Success seems to breed more success for TAG. At a time when Associations struggle to clear the 5% growth threshold, Mantella and his high performing team delivered 600% growth from $500,000 in 2004 to $3.4 million in 2012.
2. Core Connections
Data Driven Strategies builds out a data dashboard of member, prospect and even sponsor “pain points,” including the impact Associations have in real time. Associations apply the pain point data to link programs, products and service execution to member business objectives. Core Connections means Associations position themselves as strategic partners helping member, prospect and sponsor companies achieve their business objectives.
As Associations reinforce Core Connections, they provide the necessary level of impetus to engage and satisfy members, and recruit new members and sponsors. These are the connections that help Associations reflect and effectively serve their communities.
For NIRI President and CEO Jeff Morgan, www.niri.org, Core Connections were key as they helped his Association establish uniqueness and enhance its competitive position (see blog post http://bit.ly/10prZJo). Morgan’s strong 17% non U.S. membership growth performance (over three years) confirms that the connection to member business objectives has impact.
3. Member Engagement
Member engagement is a crucial ingredient, Associations who have doubled growth are effective because they have cultures that link their members, staff and board. They transformed their cultures from “we/they” to “We.” For Gregory Casey, President and CEO, BIPAC www.bipac.net/bipac, almost every day is an act of engagement (see blog post http://bit.ly/ZFU6jx). At his organization, helping his members achieve their policy objectives is a passion as much as it is the mission. For ten years, Casey’s relentless member engagement and execution of customized policy solutions has distinguished BIPAC. Over the last ten years Casey’s BIPAC achieved double digit growth.
3 Strategies CEO’s Use to Double Association Revenue
Data Driven Strategies, Core Connections and Member Engagement. Associations that utilize these strategies to connect to their members, prospects and sponsors do deliver ROI and achieve double digit growth, which isn’t an easy task in today’s rough and tumble environment. Portrayed in the movie “Without Limits, Steve “Pre” Prefontaine, (an American middle and long-distance runner who competed in the 1972 Olympics) quipped to his Coach Bill Bowerman “…when you set the pace you control the race.” Setting an impressive pace, Associations too can control the race and achieve double digit growth.
Free eBook “Accelerating Strategic Member Engagement” is available for all Association Executives at www.potomaccore.com,www.icimo.com,and www.verticalleapconsulting.com.
