As you start the New Year, it is a good time to step back and think what big picture strategy is the best option to grow your organization in 2016.
For associations, growth strategies usually center either on membership or product and service offerings. This matrix presents a simplified way of viewing these options.
The top two quadrants are membership focused and achieve growth by either retaining more members or recruiting additional new members.
The bottom two quadrants are product and services focused and achieve growth by either increasing the usage (purchases) of current products and services or developing wholly new products and services.
Typically, the right hand “new” quadrants are the most challenging strategies to execute. They are the innovation quadrants. However, successfully developed and deployed, they can produce substantial growth. The left hand “existing” quadrants are the optimization quadrants. They offer less risk, but also reward.
One overarching decision when selecting a strategy is also to ask, “How does this support the mission of my organization?” The ultimate purpose of a new strategy serves as a means to accomplishing your organization’s mission. However, a mission also needs financial support and growth is one of the best ways to generate additional support.
Which growth strategy best supports your organizations mission and goals for 2016?
Posted by Tony Rossell