Doing More With Less

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Doing more with less Doing more with less Managing associations in Managing associations in times of economic times of economic uncertainty uncertainty JWL Associates JWL Associates

description

A presentation created for several state associations of Realtors as a part of my presentation to their state seminars for their local association executives.

Transcript of Doing More With Less

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Doing more with lessDoing more with less

Managing associations in times of Managing associations in times of economic uncertaintyeconomic uncertainty

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REALTOR Association ManagementREALTOR Association Management

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What we know about real estate What we know about real estate todaytoday

Undergoing Undergoing transformationtransformation

Members revising job Members revising job descriptionsdescriptions

Members have Members have personal finance personal finance anxietyanxiety

Brokers reinventing Brokers reinventing brokerage practicesbrokerage practices

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What we know about associations What we know about associations todaytoday

Members have a Members have a different profile, though different profile, though ’leaders’ may not’leaders’ may not

Dues are a declining Dues are a declining source of incomesource of income

Traditional Real Estate Traditional Real Estate associations have less associations have less relevance to members relevance to members and consumersand consumers

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Combine the two: what are our Combine the two: what are our opportunitiesopportunities as real estate as real estate

association managersassociation managers

Better management techniquesBetter management techniques Sophisticated tracking tools for programs, Sophisticated tracking tools for programs,

servicesservices Redesigned association structureRedesigned association structure More relevant and income producing More relevant and income producing

association good and servicesassociation good and services Less expensive tools to meet our challengesLess expensive tools to meet our challenges

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Better Management TechniquesBetter Management TechniquesFOCUS!FOCUS!

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In Association Management?In Association Management?

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1. Manage Abundance1. Manage Abundance

MANAGE ABUNDANCE, NOT SCARCITYMANAGE ABUNDANCE, NOT SCARCITY

Businesses like airlines and Broadway Businesses like airlines and Broadway theaters profit from controlling the scarcity of theaters profit from controlling the scarcity of their product. But the Internet kills scarcity. their product. But the Internet kills scarcity. Google understands how to benefit from Google understands how to benefit from abundance. Get more customers, more abundance. Get more customers, more members, more data, more product. Don’t members, more data, more product. Don’t be limited to your physical location.be limited to your physical location.

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Abundance IdeasAbundance Ideas

Affiliate membersAffiliate members– Suppliers of products, Suppliers of products,

advertising, educationadvertising, education Public membersPublic members

– Newsletters, information, Newsletters, information, productsproducts

Public productsPublic products– Website for consumersWebsite for consumers– Investors’ Club or ForumInvestors’ Club or Forum– Data salesData sales– Education (ways to access the Education (ways to access the

home sale info, protest taxes, home sale info, protest taxes, participate in planning and participate in planning and zoning)zoning)

Management services (related Management services (related organizations like affordable organizations like affordable housing)housing)

Business partner fees (chamber Business partner fees (chamber of commerce, homebuilders)of commerce, homebuilders)

On-line education providersOn-line education providers

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Premium Content: Provide your members with basic industry news on your Web site, but earn extra revenues by creating premium content levels for those members who need the most timely and updated information.

Targeted News: By making targeted, handcrafted, relevant newsfeeds a vital part of your member-support system, prospective members have a unique, vital and timely reason to affiliate with your association. You can make a difference for them, and that's exactly the reason to join a professional or industry association.

Check out Blanche Evans’ e-zine. http://evansemedia.com/ Possible fundraising, regionally tailored news…

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2. Give up Control2. Give up Control

GIVE UP CONTROLGIVE UP CONTROL Companies need to give up control to outsiders to reap the benefits of Companies need to give up control to outsiders to reap the benefits of

their input. Google does this through beta launches and other user their input. Google does this through beta launches and other user feedback. Dell tried a similar tack in 2007, after a flood of criticism over feedback. Dell tried a similar tack in 2007, after a flood of criticism over poor customer service. CEO Michael Dell launched a Web site to get poor customer service. CEO Michael Dell launched a Web site to get customers' ideas, and Dell executives reached out online to bloggers. customers' ideas, and Dell executives reached out online to bloggers.

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Here Comes EverybodyHere Comes Everybody

Beta Test program for all innovations Beta Test program for all innovations (people love being beta testers)(people love being beta testers)

Never launch a communication without Never launch a communication without customer input and product reviewcustomer input and product review

New ideas, 24/7—online suggestion boxNew ideas, 24/7—online suggestion box

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Discover new products and servicesDiscover new products and services

New members have new ideasNew members have new ideas New businesses for associationsNew businesses for associations Discover new income, including new Discover new income, including new

membersmembers

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Redesign your GovernanceRedesign your Governance

““The board will govern with an emphasis on The board will govern with an emphasis on (1) outward vision rather than internal (1) outward vision rather than internal preoccupation, (2) encouragement of diversity preoccupation, (2) encouragement of diversity in viewpoints, (3) strategic leadership more in viewpoints, (3) strategic leadership more than administrative detail, (4) clear distinction than administrative detail, (4) clear distinction of board and CEO (manager) roles, (5) of board and CEO (manager) roles, (5) collective rather than individual decisions, (6) collective rather than individual decisions, (6) future rather than past or present, and (7) future rather than past or present, and (7) proactivity rather than reactivity.”--Carverproactivity rather than reactivity.”--Carver

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3. Get Out of the Way3. Get Out of the Way Google doesn't tell Google doesn't tell

people how to use its people how to use its search engine or what search engine or what to look for. It lets to look for. It lets people take control of people take control of its technology. Craig its technology. Craig Newmark, founder of Newmark, founder of Craigslist, lets people Craigslist, lets people use the classifieds use the classifieds service in any way service in any way they can imaginethey can imagine

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Get out of the Way IdeasGet out of the Way Ideas

Realtor want ads board on your web site ($)Realtor want ads board on your web site ($) Feature Listing ads on your web site ($)Feature Listing ads on your web site ($) Help wanted and employment ads ($)Help wanted and employment ads ($) Idea forums and information exchangesIdea forums and information exchanges Public questions about real estatePublic questions about real estate Reciprocal linking to association website, Reciprocal linking to association website,

member websites, other community member websites, other community websiteswebsites

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4. Lower Prices4. Lower Prices

LOW PRICES ARE GOOD (FREE IS LOW PRICES ARE GOOD (FREE IS BETTER)BETTER)

Google doesn't charge people to use its search engine. In Google doesn't charge people to use its search engine. In fact, the fastest-growing Net companies—from Google and fact, the fastest-growing Net companies—from Google and Skype to Amazon and eBay—don't charge what the market Skype to Amazon and eBay—don't charge what the market will bear. They charge as little as they can bear. Don’t will bear. They charge as little as they can bear. Don’t ‘nickel and dime’ yourself out of customers.‘nickel and dime’ yourself out of customers.

Look for Look for relatedrelated income opportunities—click through ads, income opportunities—click through ads, enhanced subscriptions levels, sponsorshipsenhanced subscriptions levels, sponsorships

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Free is better IdeasFree is better Ideas

1. Do have a clear idea of your core (dues 1. Do have a clear idea of your core (dues dollar) servicesdollar) services

2. Make sure your dues cover the costs of 2. Make sure your dues cover the costs of these. Then, market them.these. Then, market them.

3. Menu price everything else. Then market 3. Menu price everything else. Then market those items.those items.

4. Identify and market your freebies. Let 4. Identify and market your freebies. Let members know what they are. members know what they are.

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Today’s Gift EconomyToday’s Gift Economy

Gift economy includes Gift economy includes open source, the open source, the Internet, scientific Internet, scientific knowledge sharing, knowledge sharing, much foundation and much foundation and NGO work, blogs, file NGO work, blogs, file sharing and a host of sharing and a host of other 'price-less' other 'price-less' exchanges of value.exchanges of value.

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Return on Investment ManagementReturn on Investment Management

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Eliminate what we don’t needEliminate what we don’t need

Legacy programs and servicesLegacy programs and services Programs that don’t use technology Programs that don’t use technology

efficiencyefficiency ““Loud Member programs” Loud Member programs”

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MONETIZING YOUR MONETIZING YOUR ASSOCIATIONASSOCIATION

What do you have that’s a specialized product that What do you have that’s a specialized product that you might provide to new markets?you might provide to new markets?– Data and data analysisData and data analysis– Trade showsTrade shows– Management expertise (other associations)Management expertise (other associations)– Education (public and professional)Education (public and professional)– Audience for advertising activities (members)Audience for advertising activities (members)– MLS AccessMLS Access– Subcontracted brokerage assistance (call centers, etc)Subcontracted brokerage assistance (call centers, etc)– Facility rental and function planningFacility rental and function planning

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1. Monetizing your Association 1. Monetizing your Association WebsiteWebsite

Affiliate Membership fees and online Affiliate Membership fees and online registrationsregistrations

Shopping Cart approachShopping Cart approach PayPalPayPal Job boardsJob boards Newsletter sponsorships (not ads)Newsletter sponsorships (not ads) Courses such as e-proCourses such as e-pro Banner ads, click through adsBanner ads, click through ads

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2. Affinity Partners2. Affinity Partnersoffer members discounted rates on services offer members discounted rates on services

Local (rather that state or national)Local (rather that state or national) Sign a letter of understanding outlining the Sign a letter of understanding outlining the

agreement, any conditions, and an ending date for agreement, any conditions, and an ending date for the partnership. Quality assurance.the partnership. Quality assurance.

Ask if they’d like to participate in sponsorships of Ask if they’d like to participate in sponsorships of events, education, scholarships, etc.events, education, scholarships, etc.

Memberships…(Chamber) buy one, get one half-Memberships…(Chamber) buy one, get one half-priceprice

Other opportunities (nametags, lockboxes)Other opportunities (nametags, lockboxes)

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Non-dues Revenue ResourcesNon-dues Revenue Resources

Evaluating & Generating Nondues Income by ASAE Evaluating & Generating Nondues Income by ASAE Member/Non-member Price:Member/Non-member Price:$33.50 $33.50

75 Chamber Fund Raisers That Work! 75 Chamber Fund Raisers That Work!   Cost: $79.   Cost: $79. http://www.bestchambers.com/ http://www.bestchambers.com/

““Economic Strategy for Associations” Economic Strategy for Associations” http://www.mckinleymarketing.com/resources/economicstrategy.pdf http://www.mckinleymarketing.com/resources/economicstrategy.pdf

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Bundled sponsorship options:Bundled sponsorship options: The North Carolina Association of The North Carolina Association of Realtors, Greensboro, has consolidated its sponsorship solicitations Realtors, Greensboro, has consolidated its sponsorship solicitations so that it no longer seeks funds for an unpredictable mix of events so that it no longer seeks funds for an unpredictable mix of events throughout the year. Instead, NCAR asks sponsors for annual support throughout the year. Instead, NCAR asks sponsors for annual support at their choice of four levels, from $1,500 to $10,000. NCAR's at their choice of four levels, from $1,500 to $10,000. NCAR's Business Development Department handles the sponsorships plus the Business Development Department handles the sponsorships plus the trade show, advertising, and affinity program.trade show, advertising, and affinity program.Benefits to sponsors:Benefits to sponsors: They much prefer being asked for money They much prefer being asked for money once, which makes for less confusion and simpler budgeting.once, which makes for less confusion and simpler budgeting.Benefits to the association:Benefits to the association: Staff finds once-a-year solicitations Staff finds once-a-year solicitations easier and more efficient.easier and more efficient.Bottom line:Bottom line: Net annual sponsorship revenue:Net annual sponsorship revenue: $75,000 (compared to $75,000 (compared to $15,000 four years ago). $15,000 four years ago). Start-up costs:Start-up costs: $3,000. $3,000. Staff time:Staff time: The The business development director spends about half of his time on business development director spends about half of his time on sponsorships.sponsorships.

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Online auction: To help its members learn more about a potential money-making technique while raising funds itself, the National PTA, Chicago, conducted its first online auction in February 2004. The auction included items ranging from school supplies to tropical vacations--all available at lower-than-retail prices. The staff collected more than 170 donated items to be auctioned primarily to PTA members nationwide, who had two weeks to place their online bids. An outside vendor, C-Market of Boston, hosted the auction.Benefits to members: Bidders saved money and had the opportunity to see how an online auction works before they tried it as a fundraiser for their local PTAs.Benefits to the association: The National PTA collected the net proceeds, strengthened relations with vendors and sponsors who made donations, and will use the lessons it learned at a second online auction in November.Bottom line: Net revenue: $13,000. Start-up costs: $7,000. Staff time: 300 hours across six months.http://www.readysetauction.com/online-auction/http://www.auctionraiser.com/

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Be a marketing superheroBe a marketing superhero

blogs, podcasts and blogs, podcasts and viral techniques to market viral techniques to market the event the event

electronic exhibitor kits if electronic exhibitor kits if the event has a tradeshow the event has a tradeshow component component

on-demand printing on-demand printing stations stations

mobile phones for polling mobile phones for polling and networkingand networking

a branded memory sticka branded memory stick

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Low Cost MarketingLow Cost Marketing

Community Toolbars (Community Toolbars (http://www.conduit.com/))

FacebookFacebook Twitter-publicize specials or promotions and Twitter-publicize specials or promotions and

drive people to a company website or blog or drive people to a company website or blog or another online presence. another online presence. (http://www.realtown.com/Judith2/blog/twitter)(http://www.realtown.com/Judith2/blog/twitter)

Ning-create a customized social network of Ning-create a customized social network of your own. your own. http://www.ning.comhttp://www.ning.com//

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TipsTips

Pay bills with credit cards—use the points for Pay bills with credit cards—use the points for traveltravel

Examine need for face-to-face meetings (use web-Examine need for face-to-face meetings (use web-enabled meeting technologies)enabled meeting technologies)

Partnerships: cross marketing, data analysis, Partnerships: cross marketing, data analysis, political affairs. Likely target: chamber of political affairs. Likely target: chamber of commerce. (business expo, networking, member commerce. (business expo, networking, member services, training)services, training)

Better marketing internally, of your own services. Better marketing internally, of your own services. What % of members utilize? How can you better What % of members utilize? How can you better that?that?

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Take Care of YourselfTake Care of Yourself

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Avoid AnxietyAvoid Anxiety

The following tips can help you cut down on your The following tips can help you cut down on your workload -- and your stress:workload -- and your stress:

If possible, don't take on any new projects that will demand If possible, don't take on any new projects that will demand a lot of your time or come due during the time of another a lot of your time or come due during the time of another large project. (Help Directors understand the project!)large project. (Help Directors understand the project!)

Take care of as much routine work in advance of the Take care of as much routine work in advance of the stressful time as possible. stressful time as possible.

Ask yourself: Can someone else do it? Can something be Ask yourself: Can someone else do it? Can something be delayed? Can I substitute something else? Is it essential? delayed? Can I substitute something else? Is it essential?

Find a time-planning system that helps you. Find a time-planning system that helps you. Concentrate on the most important tasks. Concentrate on the most important tasks.

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Thank you!Thank you!

Judith Lindenau, CAE, RCEJudith Lindenau, CAE, RCE

www.judithlindenau.com

[email protected]@judithlindenau.com

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