Published by Melissa Madigan, Marketing Coordinator, ACGI
Whenever there is a new, shiny product announced, like the iPhone 5s or the Kindle Paperwhite, I must admit I have a Veruca Salt moment. I want it now and don’t have patience for waiting to play with my precious new toys.
Why am I so devoted to these technology brands? Well, as a consumer, the product launch is where the cycle begins. A lot can happen before I actually decide on making a purchase (research reviews, compare to previous model features, pricing, etc.), and once I do, the process continues with customer service and my experience with the new product.
The future of technology excites me. I read an article yesterday in Forbes, “99 Amazing Facts on the Future of Business,” by Michael Brenner, and it got me thinking about the future of both technology and business, and how associations can benefit from using these facts to their advantage.
Here are a few favorite facts and how your association can apply them.
“By the end of 2013, there will be more mobile-connected devices than there are people on earth.”(Cisco, 2013)
“Typical mobile users check their phone 150 times per day.” (Mary Meeker’s Internet Trends, 2013)
“90% of all internet traffic in 2017 will be video.” (Cisco, 2013)
Members are using a variety of platforms. Is your association aware of and taking advantage of these platforms? If not, you should be.
“The average number of sources of content consumed by a shopper in a purchase doubled from 2010 to 2011 going from 5 to 10 pieces of content consumed.”(Google)
“70% of buying experiences are based on how the customer feels he or she is being treated.”(McKinsey)
“87% of global consumers believe business should place at least equal emphasis on social interests as business interests, and ‘purpose’ has increased as a purchase trigger by 26% since 2008.”(Edelman Trust Barometer, 2013)
As mentioned before, prior research of a product (or association) is inevitable. What we can learn from these facts is:
Associations that promote across multiple channels increase awareness. The more content you produce, the more opportunity to reach prospective members.
First impressions are all about being transparent and educating members and prospects on how you can meet their needs. Does your association’s mission align with what matters deeply to your members? If so, you can leverage your mission or “purpose” to encourage action by your members, customers, partners, etc.
“It is 6 to 7 times more expensive to acquire new customers than it is to keep a current one.” (White House Office of Consumer Affairs)
Take a look at the sources of revenue for your association. Where’s the money focused? Growing membership or retaining it, or at a nice balance? If your organization is struggling with retaining members or you see a lack of loyalty from them, perhaps there is room for adjustment.
“Over 40% of the companies that were at the top of the Fortune 500 in 2000 were no longer there in 2010.” (Brian Solis’ Future of Business)
Success is never definite and there will always be “the next big thing” waiting around the corner. It’s important for businesses and associations to evaluate their products and services regularly, in comparison with changes in the industry. Measuring member satisfaction and understanding of your association’s purpose could keep you at the forefront of your industry.
Read the rest of Michael Brenner’s 99 Facts in the SlideShare below.
If you’re excited and ready to explore more opportunities of using technology to grow and retain membership, join ACGI and guest, Joshua Paul, director of Strategy for Socious, for our next webinar on October 24 at 1:30 p.m. ET, “5 Ways to Increase Non-Dues Revenue Using Your Private Online Community and AMS.”
Oh yeah, and you better believe when my gold iPhone 5s arrives in the mail this month, I’ll be waving it around singing, “I’m got a golden iPhone! I’ve got a golden twinkle in my eye!”
Photo Source: dailymail.co.uk
