If one of the main benefits of your association or your annual conference is “networking” you have a problem. LinkedIn was made for networking. Sure it’s not industry specific and it’s not as personal, but it is free. Nearly every industry is represented there, so there’s bound to be individuals from your sector who are eager to connect and collaborate. There’s probably a special interest group too.
If another big benefit of your association or event is “thought leadership,” guess what? LinkedIn is giving you a run for your money there as well. LinkedIn is loaded with great ideas, insights, strategies, tips and tricks that could apply to your members’ businesses. Again, this content might not be 100% tailored to your specific space, but it’s free and it’s somewhat helpful.
What Am I Paying For?
For both networking and thought leadership, your potential members can invest precisely $0 and get a huge return in the form of somewhat relevant contacts and information. By comparison, your membership dues and event registration fees will seem like a big investment. People will want to know: “What do I get in return for investing so much money?”
Quite often, an association will answer this question by saying, “We’re focused exclusively on our sector! We’re unique and customized to our space!” Also quite often, that same association will host a conference featuring big-name experts from other industries. Suddenly your argument of “we’re unique and focused” doesn’t hold up.
People will want to know: “What do I get in return for investing so much money?”
Payton Manning Won’t Cut It Anymore
A celebrity keynote speaker like Payton Manning, Erin Brockovich, or Steve Wozniak draws a crowd. They leave audiences feeling inspired and uplifted and, quite often, entertained. People go back to the office bragging about how they saw an A-lister live in the flesh. They might even have a notepad full of motivational quotes and pithy one-liners to share with their team. They likely also have a mittful of business cards from networking sessions and cocktail receptions.
Prior to 2020, these might have been reasons enough to invest time, money, and travel into your annual event. But they just don’t hold up any more. When faced with health and safety considerations, serious budget constraints, and a dire workforce shortage, your members and prospects are forced to prioritize their time and money. They simply can’t justify expensive entertainment, generic insights, and networking opportunities that they could get elsewhere—for cheap or free.
Look Back Five Years
Look back at your annual conference agendas for the last five years. How many keynote speakers were from other industries? How many sessions featured presenters from other sectors? If a lot of your content isn’t specific to your industry, you will need a stronger answer to the question “What am I paying for?” If your strongest benefit is networking, then we’re back on LinkedIn where we started.
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