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What are the most effective ways to measure the influence of your industry associations?

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As a leader in your industry, you know the value of being part of an industry association. You can network with peers, learn from experts, advocate for your interests, and access exclusive resources. But how do you know if your association is doing a good job of representing and advancing your industry? How do you measure the influence of your industry association and its impact on your own business goals? In this article, we will explore some of the most effective ways to evaluate the performance of your industry association and how you can use this information to improve your own influence and leadership.

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Manish Narang

Managing Director @Market Xcel Data Matrix Pvt. Ltd. I Strategic Marketer | Driving Brand Growth Initiatives
Brian Vieaux

Helping Loan Originators Reach, Assist, Engage & Nurture Homebuyers With The Best Personal Finance & Homeownership App…
Rakesh Kamath

Senior Product Manager @ Publicis Sapient | Your Friendly Neighborhood PM | Digital Business Transformation with GenAI…

1 Define your objectives

Before you can measure the influence of your industry association, you need to define what you want to achieve by being a member. What are your specific goals and expectations from the association? How do they align with your business strategy and vision? Common objectives may include increasing brand awareness and reputation, gaining access to new markets, customers, and opportunities, learning from best practices and innovations in your field, influencing policy and regulatory decisions, and collaborating with other members and stakeholders. By clarifying these objectives, you can identify the key indicators and metrics that will help measure the influence of your industry association.

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Rakesh Kamath

Senior Product Manager @ Publicis Sapient | Your Friendly Neighborhood PM | Digital Business Transformation with GenAI | LinkedIn Top Voice
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In my experience, once you have defined your goals and expectations from the industry association, you can evaluate its effectiveness in helping you achieve those objectives by tracking relevant metrics and key performance indicators (KPIs). These may include metrics such as membership growth, engagement levels, participation in events and initiatives, referrals or leads generated, media mentions or press coverage, and policy or regulatory changes influenced. Additionally, conducting regular surveys or feedback sessions with fellow members and stakeholders can provide valuable insights into the perceived value and impact of the association on your business and industry.

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Lisa Goldenthal

High-Performance Executive Coach. C-Suite Leadership Transformation. Founder of High Performance Coaching Artificial Intelligence Leadership. Speaker. Best-Selling Author.
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Measuring the impact of industry associations hinges on clearly defining your objectives—what you aim to achieve through membership. Consider goals like boosting brand visibility, accessing new markets, or shaping policy. Establish key indicators, such as network expansion, engagement levels, or influence on industry standards, to quantify your association's influence. This strategic approach enables you to assess the value of your involvement, guiding future investments and collaborations within your industry. #IndustryInfluence #StrategicNetworking #BusinessGrowth

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Prabhakar V

Digital Transformation Leader | Driving Strategic Initiatives & AI Solutions | Thought Leader in Tech Innovation
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Need to understand the establishment goals of the association. The size and reach of its current membership. Assess the strength and breadth of partnerships formed by the association with other industry players, governmental bodies, and influential individuals. Collaborative efforts amplify the association's reach and impact. Are they consulted by the government in framing policies. How much heft this group has. Event Attendance and Participation: Monitor attendance and engagement levels at industry events and conferences organized or endorsed by the association. High turnout reflects the association's ability to mobilize and unite industry professionals. Do they publish news letter to update their members. All these help measure

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2 Assess the reach and engagement

Measuring the influence of your industry association requires assessing its reach and engagement with target audiences, such as members, the industry, the media, the public, and policymakers. To collect and analyze data on the reach and engagement of your association, you can use various sources and methods. These include membership statistics like number, size, diversity, retention, and satisfaction of members; communication channels like website, social media, newsletters, podcasts, webinars, and events; media coverage such as number, frequency, tone, and quality of mentions in relevant outlets; public opinion such as awareness, perception, and trust of the association among the general public; as well as policy impact like number, type, and outcome of interactions with decision-makers and influencers. By assessing the reach and engagement of your industry association in this manner, you can gain insight into how well it communicates its value proposition and how much it influences audiences' opinions and behaviors.

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Brian Vieaux

Helping Loan Originators Reach, Assist, Engage & Nurture Homebuyers With The Best Personal Finance & Homeownership App | Co-Author Rethink Everything:You Know About Being A Next Gen Loan Officer | CMB | 30K Connections
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Engaging industry influencers enriches conversations and expands reach for industry associations. By identifying and connecting with key thought leaders, creating collaborative platforms like webinars and forums, and soliciting their feedback, associations can leverage diverse insights and foster a vibrant community. Highlighting these perspectives in communications and measuring the impact of such engagements are crucial. This strategy not only amplifies visibility but also deepens engagement, driving a more substantial influence on the industry and beyond. Embracing influencer collaboration fosters inclusivity and innovation, significantly enhancing an association's value proposition.

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Rakesh Kamath

Senior Product Manager @ Publicis Sapient | Your Friendly Neighborhood PM | Digital Business Transformation with GenAI | LinkedIn Top Voice
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In my experience, conducting benchmarking analyses against peer associations or industry standards can provide context and help identify areas for improvement or optimization. Additionally, leveraging technology and analytics tools can streamline data collection, analysis, and reporting processes, allowing for more efficient and effective measurement of influence. It's also important to regularly review and update your measurement approach to adapt to changing circumstances, trends, and stakeholder expectations. By adopting a comprehensive and iterative approach to measuring the influence of your industry association, you can gain actionable insights to enhance its impact and effectiveness in advancing your business goals and objectives.

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3 Evaluate the outcomes and impact

Measuring the influence of your industry association requires looking beyond its outputs and activities and focusing on the results and changes it generates. To evaluate the outcomes and impact, surveys and feedback from members, partners, and stakeholders can be used to gauge satisfaction, needs, and expectations. Additionally, case studies and stories can be highlighted to showcase success stories of members who benefited from the association's services or programs. Furthermore, benchmarks and comparisons between your industry or business with other industries or businesses can be made. Lastly, return on investment (ROI) and value for money (VFM) can be calculated to measure the financial and non-financial benefits and costs of being a member of the association. By evaluating the outcomes and impact of your industry association, you can determine how much it contributes to the growth and development of your industry or business.

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4 Identify the gaps and opportunities

In order to measure the influence of your industry association, it is important to identify the gaps and opportunities for improvement and innovation. This requires looking at what the association is doing well, what it can do better, and what emerging trends and challenges exist in your industry. Sources and methods such as SWOT analysis, gap analysis, environmental scan, and innovation scan can be used to identify these gaps and opportunities. SWOT analysis looks at the strengths, weaknesses, opportunities, and threats of your association and industry; gap analysis compares the current state to the desired state; environmental scan monitors external factors; and innovation scan explores new ideas and solutions. By recognizing these gaps and opportunities, you can discover new ways to increase the influence and leadership of your association.

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5 Take action and share feedback

Measuring the influence of your industry association is an ongoing process that requires regular review and update. You should take action based on the findings and recommendations of your measurement and share feedback with your association and peers. Ways to do this include implementing best practices, participating in activities and programs, advocating for your association, sharing success stories and challenges, and recognizing the achievements of your association and industry. Doing so can help improve your own influence and leadership, as well as the influence of your industry association.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Manish Narang

Managing Director @Market Xcel Data Matrix Pvt. Ltd. I Strategic Marketer | Driving Brand Growth Initiatives
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1. Use the gathered data to inform strategic decision-making and resource allocation within the association. 2. Share the results with members and stakeholders to demonstrate the association's value and encourage continued support. 3. Continuously refine your measurement approach based on new information and evolving goals.

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Shaziya Khan

Insight Chaser l Brand Communication Strategist l Author
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The key is defining & understanding the role of the industry body. This vital strategic exercise brings most clarity - addresses, aligns all stake holders on: What the industry body does, what individual brands in the same industry do. What the industry does not do (as it may be a trade organisation without commercial objectives). What larger mandate the industry body fulfils for that sector, the shifts it enables at scale. How the industry body complements what the individual brands do. E.g. When this was done, in financial services - effect was a positive impact on industry growth like never before, and also the brands of their own volition carrying the industry body brand assets as a halo of credibility, appeal.

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What are the most effective ways to measure the influence of your industry associations?

1

2

3

4

5

6

1 Define your objectives

2 Assess the reach and engagement

3 Evaluate the outcomes and impact

4 Identify the gaps and opportunities

5 Take action and share feedback

6 Here’s what else to consider

Thought Leadership

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What are the most effective ways to measure the influence of your industry associations?

1

2

3

4

5

6

1 Define your objectives

2 Assess the reach and engagement

3 Evaluate the outcomes and impact

4 Identify the gaps and opportunities

5 Take action and share feedback

6 Here’s what else to consider

Thought Leadership

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