For years, associations have been satisfied with an industry average of only 15% of members attending their annual conference1. With a strong economy, this has been enough to satisfy revenue expectations for most associations. However, when the economy shifts, (like in 2008) many associations feel an impact on all areas, including event attendance.
Netflix, Hulu, Prime Video, HBO, Disney+ and other competitors, know that consumers have innumerable options when it comes to content. They also have learned that if some of their content is EXCLUSIVE and can’t be found anywhere else, it demonstrates their value to win and retain subscribers.
That’s why Netflix spent $15 billion dollars on original content in 2019.
(Here’s a list of some of their most-watched original programming)
I hate to be the bearer of bad news, but every association CEO needs to hear these 5 reasons that could cause the extinction of an association.
We had a webinar last week titled: Hybridized Events-Delight Virtual and Attending Members Through Live-Streaming and Smartphone participation hosted with John Pytel of Conference i/o. Our engagement stats for the webinar went from an average of 62% to over 90% for this webinar thanks to smartphone engagement.
Boomers are leaving the workforce an average of 1 every 8 seconds. That means they are leaving your association too. Your association will only survive by recruiting new members. Here are some points that will help you to get your share of the millennial pie.
You've just posted another video on Facebook and YouTube. You're hoping this is the one that your members start to share with their peers and it goes viral.... Be careful for what you wish for.
If you are like many associations, you are somewhere in the 7 stages between love and grief with Social Media.
As time becomes more scarce for your members, their learning needs to be done in a shorter time frame. The new buzz word for association education is Micro Learning. Are you set up for this new trend?