Episode 7: RevUP Digital Strategy

Capuano: Technology can be an enabler of both revenue generation and achieving strategic goals. Often, technology is considered an impetus, a barrier, something that you have to deal with, and it shouldn’t be that way.

Shomali: Welcome to Association RevUP, the podcast that will get everyone in your association talking about revenue health. I’m your host, Carolyn Shomali. I’m the Director of Content for the Professionals for Association Revenue. And that was Duane Capuano of Success Roads Consulting. He helps associations develop technology strategies that align with their business goals. Capuano makes a foundational point to today’s discussion.

Technology can be an enabler of both revenue generation and strategic goals. Our associations make decisions about what technology to use or not to use on an ongoing basis. But as Capuano points out, technology is often thought of as something that we have to deal with instead of something that can impact the financial, operational, and strategic goals of our associations. Which is why we’re devoting the seventh episode of this podcast series, which is focused on association business practices, to the topic of digital strategy.

Technology is a tool that can improve everything we’ve discussed in this series thus far. From company culture, to sales skills, and data insights. Capuano will be joined by Michele Brien of Matchbox, as they look at how the right digital strategy can unlock new revenue opportunities, support operations, and reduce costs. We’ll also touch on the increasing role that AI plays in developing your digital strategy, as we hear again from Thad Lurie of the American Geophysical Union.

Lurie: We’re starting to do some things now that we think are gonna change the game.

Shomali: And finally, we’ll ensure that everyone from association leaders to revenue producers leave today’s episode feeling empowered to make at least one change. Colleen McKenna of Intero Advisory will remind us that we all have control over our own personal digital strategy approach, with the world’s largest professional networking tool.

McKenna: Weaving your story in with your association’s story really creates great impact, right? It makes sense. It helps people understand who you are first, because no one goes to your LinkedIn profile to learn about your association. They go to your LinkedIn profile to learn about you.

Shomali: From LinkedIn to AI to digital strategy, thanks for tuning in to episode seven of Association RevUP as we rev up digital strategy.

Capuano: You look at everything holistically, and you give the board a plan. I think what happens a lot in associations that I’ve seen over the last 10 years is technology is kind of like being in an ER room, like what system’s broken the most, and then go to the next system that’s broken the most. What boards want to hear is a plan. So they know how much money is gonna come out each year, and they’re not surprised.

Shomali: Technology implementations require a financial commitment from your association. And Duane Capuano says when associations can show the value of technology tools, they transform from a cost to a strategic investment with real ROI benefits.

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Capuano: Here’s our plan, here’s the goals, here’s how this technology is gonna support the goals. Lay it out like that. Then they could say, okay, it’s worth the $20,000 investment or whatever it is you want to spend on HubSpot. Same thing for events, same thing for education. You need an education strategy. Education digital strategy is the, hey, we need a new LMS, maybe we need a new webinar, virtual events. You have to say to them, here is our strategy, here’s how we’re gonna make you money by investing in technology.

Shomali: Digital strategy, as Capuano defines it, is the intersection between strategic plans and technology strategies. Associations may have one or the other, sometimes both. But the challenge, he says, is in ensuring that the strategic plans and the technology strategies are linked. We’ll approach digital strategy through its impact on three areas of your association’s goals, financial, operational, and strategic.

First up, financial. Consider the technology resources your association currently uses and ask what portion of our current revenue is directly attributed to our existing technology platforms. For example, event management systems, e-commerce platforms, learning management systems, and CRMs are all technology solutions that bring revenue into your associations. Michele Brien of the digital initiatives company, Matchbox, says a simple revenue mapping activity can help you visualize this more clearly.

Brien: So you would actually look at the revenues that are being brought in by the different channels within your organization, where your activities are happening, look at what the revenues are, and then look at the digital infrastructure that you have in place or that you need to put in place to enable you to grow those revenues.

Shomali: You’ll also want to consider what gaps there are in your technology that, if filled, could lead to new market opportunities or revenue sources. Sometimes this means adding new technology altogether. Other times, it means improving the operational efficiencies of the technology you already have in place, which leads us to the second element of digital strategy, its impact on your operational efficiencies. Brien says this is often as easy as improving integrations between platforms.

Brien: One of the things as a vendor in the outside of the AMS space that I’ve seen so many times working with associations over the years that you don’t often realize what cost savings and operational efficiencies you can actually create by investing in better integration between your AMS and other systems.

I mean, so many times there are reports where the data is being manually entered into one system and then copied back to the AMS, where if you had an integration that could automatically deliver that information to the AMS, your staff time would be freed up so much that they would be able to concentrate on developing newer programs.

Shomali: Explore the operational component of your digital strategy by asking, are there manual processes that could be automated to save costs and improve accuracy? Is our staff equipped with the right technology tools to perform their duties efficiently? And if they are, do they trust the tools that they’re using?

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Capuano: This is where you’re having problems of inefficiency or business processes where, say, an association staff does not trust the technology, so instead of putting the data into a database, they put it into a spreadsheet instead. It’s a situation where the reports are very hard to generate, so again, staff develop workarounds, whether it’s through spreadsheets or other software, in order to solve a problem that they shouldn’t have to solve in the first place. Using revenue generation as an example, last year I worked with a client where 80% of the revenues were generated by their sales team. Five-person sales team, very strong sales team, they would sell events, they would sell sponsorships, they generated a ton of money. However, all their prospects, all their customers, were in massive spreadsheets that only they knew and they operated.

Why? Because they didn’t trust the AMS. They went through two AMS systems, both were disasters. They were like, we’re not going to trust this new AMS, so instead we’re going to develop these spreadsheets, like really sophisticated spreadsheets. It worked for them, but was this a good choice for the organization?

Shomali: And this is the impact of making a technology solution which is not helping revenue and certainly not helping efficiency. The final consideration is how your technology impacts your strategic goals. For instance, if personalized member engagement is a key element to your association’s business strategy, does your current technology infrastructure support that plan? And are there emerging technologies that could help you fulfill your goals?

In episode 6, we heard from Thad Lurie of the American Geophysical Union as he shared how AGU prioritizes data to make business decisions. And because they prioritize data, they also prioritize the new and emerging technology that will help them work towards their mission of advancing discovery in earth and space sciences. Advancements like AI.

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Lurie: We’re starting to do some things now that we think are going to change the game for our membership and even more broadly in the industry. There’s some things that we as an industry, not we as an AGU team, have tried to do in the past that were very, very difficult. And we were never able to be as successful as we wanted. AI has changed that. There are capabilities that did not exist 12 to 18 months ago. Not only did they not exist, but they were almost…They seemed like, you know, sorcery. Like, oh, it’s really going to be able to do that? And we all nod our heads, yeah, okay, you said that before. Well, guess what? Now it can.

And with the ability to parse and process that language and compare it, we’ve suddenly stepped into a very different paradigm of how we can do certain things.

Shomali: With the growing number of AI platforms and tools available to associations, it can be challenging to know where to invest your time and financial resources. But viewing AI as part of your overall digital strategy, like Laurie does here, can help you see which platforms will impact your association’s financial, operational, and strategic goals. Often what you’ll find is that the right technology choices will impact all three of these areas. And AGU shows that viewing AI through the strategic lens of your association can fulfill your vision in ways not possible before.

Lurie: What we’re trying to do is look at this in an open-minded way to say, how can these new capabilities benefit our members? Can we create new products and services? Can we improve things that we already have?And really, can these support our mission? We want to create the best possible community and the easiest path to resources for our Earth and space scientists. And so how do we leverage these new technologies to do that? For the moment, that’s where we’re focusing some of our resources. To not only have that conversation, again, more broadly, we want to bring other business units and other stakeholders to that table because we have ideas, but they have lots of ideas, too. And we’re all stronger together. So when we talk it through, some things are impossible, some things we just don’t have the money for. That’s fine. The idea here, again, prioritization, like find one or two things where you can focus and drive business and whether that means acquisition or revenue or improvement of service or efficiency, all of those are good goals. And they all support your strategic plan going forward.

Shomali: If you’ve been listening along to this season of Association RevUP, the insights Lurie just shared are at the heart of everything we’ve been talking about. AGU has a culture in place to encourage innovation. It prioritizes how data can improve member engagement and inform the development of new programs and products. It welcomes external stakeholders into the conversation, realizing that associations are not on an island but part of a greater ecosystem. And it’s looking for new ways to move its industry forward. This is what association innovation looks like, from culture to sales to partnerships and to data and technology.

As AGU continues to work on specific AI-powered tools to drive membership, Lurie says it’s all made possible because of the culture of innovation and collaboration that’s in place.

Lurie: And truth be told, it’s a huge part of what we’re able to do. Part of it is that we planned well. And part of it is that our units are talking to each other. So the marketing folks, the membership folks, the data folks, the tech folks, the content people, all involved. And so as soon as we started to see what we thought was possible, we ran a proof of concept, we built something, we determined that it was working really well. And we immediately started dragging in all the other folks to say, okay, we built a proof of concept, here’s what it looks like, results are very positive. Where do we want to go next? And how do we want to start leveraging this idea to either create products and services or improve experiences or blah, blah, blah, right? There’s a whole lot there.

Our culture of collaboration and innovation, supporting each other and also risk-taking, right? I mean, this is risky in a couple of different ways. And I think associations have generally been very risk-averse. But in the technology and digital space where I’ve lived for most of my career, we need to be willing and able to take risks because there are always gonna be unknowns and there are always gonna be things. If we wanna drive revenue, we’re gonna have to try stuff and sometimes we’re gonna fail.

Shomali: As you think about your own association’s digital strategy, it’s okay to fail here too. Consider piloting new programs or even new technology platforms that could impact your financial, operational and strategic goals. Do you have trusted technology in place to help you do your job better? Is there technology out there that could drive you toward fulfilling a strategic goal more efficiently? Keep your audience in mind as you answer these questions. How can an improved digital strategy benefit them?

When we come back, we’ll look at one area of digital strategy that everyone in your association can and should take ownership of.

McKenna: I want you to think about your LinkedIn profile as a marketing tool. Think about LinkedIn as a business tool, not social media.

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Sponsor: At PAR, we’re taking a digital approach to connect with our audience and you, our listener. Association RevUP is a new digital initiative that we’re trying out. We’re thankful to all of the Association Business Pioneers who have contributed their insights to these episodes. And for the support of our partner, VPC. By now, you know that VPC is a boutique production and broadcast company whose expertise will elevate your next in-person event. We use them at par for the RevUP Summit and consistently receive feedback about the high level production value of our event. Get in touch with them at vpcinc.net to learn how they can help you. Now back to the show.

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McKenna: LinkedIn is a search engine. Just like Google, just like Netflix. If I go to Netflix and I say comedy, I get a whole set of results. If I say female comedy, it’s more refined. LinkedIn’s no different.

Shomali: Colleen McKenna is the founder of Intero Advisory. Since 2011, she and her colleagues have guided tens of thousands of professionals and over 800 companies to establish an authentic and engaging online presence. They do it through the use of the world’s largest professional network, LinkedIn.

If the first part of this episode had you feeling discouraged because you don’t control the financial investments of your digital strategy, McKenna reminds us that we all can and should take a digital strategy approach to LinkedIn. In the second half of this episode, we’re looking at how. First, McKenna says to create an individual profile that reflects who you are.

McKenna: Let people know who you are. So having an anemic LinkedIn profile doesn’t really help anybody, right? Letting LinkedIn write your profile for you doesn’t really help anybody. No one should be able to pick up your profile and drop it on their profile because it’s your personal, professional story. And I think weaving your story in with your association’s story really creates great impact, right? It makes sense. It helps people understand who you are first because no one goes to your LinkedIn profile to learn about your association. They go to your LinkedIn profile to learn about you. However, weave in and begin to introduce your association. This is the kind of the power because we want to keyword it so that it makes sense to LinkedIn’s AI, to its algorithm. We want to show up. We want to be authentic. We want to tell our story, tell this story of the association and attract people to us. So your profile is, in my opinion, one of the most important, if not the most important piece you might put online.

Shomali: If you’re in a revenue generating role for your association, this is especially important because it’s how you portray yourself to your industry community. And if you’re part of a sales team, McKenna says keeping up to date with clients, not only in person, but online, is key to growing your reach.

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McKenna: I feel like it’s the network that people are missing. So when I work with sales teams, what do we see? They’re not connected to their clients. They’re like, well, I talk to my clients all the time. Great. The reason we’re connecting with them is for a different reason. We want to see who they might be connected to. What if they’re connected to other people they can introduce you to? You’re five times more likely to get a call or a meeting if you have an introduction. So members, sponsors, partners, who are you connected to? How is that network built? If you can understand and really dive into your network, it’s gonna be very, very helpful to make even more strategic connections and introductions. If you spend a month, like really focused on your network, I guarantee you will uncover opportunities where there’s revenue attached to that. I also guarantee you’ll find gaps. And we’re gonna turn gaps into opportunities because we’re like, okay, this is where I do have a gap. What do I need to do so I close that gap?

Shomali: In episode three, we discussed important sales skills for your team. And that included using AI to assist in prospecting. Once you identify and qualify a prospect, McKenna stresses the value of building a deep network. >This ensures that that connection won’t disappear if and when your contact at the company eventually moves on.

McKenna: LinkedIn says, if you have four or more connections into a company, you are five times more likely to be either working with them or be in some sort of sales conversation with them. Building a strong profile and connecting with clients sets the stage for your communications.

Shomali: Keeping authenticity in mind, McKenna offers two final tips for your LinkedIn activity.

McKenna: First, consider the impact that your thought leadership can have on your community. I also want you to think about becoming a center of influence. So I’m really big on who these centers of influence are in your network. Take 30 seconds and write down five people that you consider a center of influence in your professional world. You know, like, and trust them. They know, like, and trust you. They have a good network. And they know how to use LinkedIn. Who are those five people? How do you network intentionally with those five people? Maybe there’s 10. Typically not much more than that. How can you help them and how can they help you?  In the sales world, we all have to become a center of influence.

Shomali: And next, take steps to ensure that your ideas are seen so that you can build that influence with the help of the LinkedIn algorithm.

McKenna: They reward a good profile. They reward a good network that makes sense based on what they’re seeing in terms of content and then on engagement. But that engagement, my friends, is not liking. It’s commenting. It’s resharing with thoughts. It’s letting people get to know you through your point of view. And so this is really kind of important to take a look at, but think of it research and context. Context for you and your association and research so that you are not saying to somebody, I’d like to set up a call and learn more about you. Like if I see that as a message, no way. Like go to my LinkedIn profile, go to my website, right? You can know a lot about somebody before you initiate. So that messaging is really, really important. Again, adding value in that messaging.

Shomali: Whether you’re developing the digital strategy for your association, or the digital strategy for yourself, I hope this episode has given you ideas for where to begin. We’re now through seven episodes of this inaugural season of Association RevUP.

And next week, we conclude with a final episode that will bring it all together. Author and speaker Skot Waldron joins me with tips for transforming our ideas into outcomes, which by the way, is the theme for our next in-person conference, the RevUP Summit 2024.

Check the link below to register and use the code PARPOD for special savings.

Waldron: We all like change when it fits the way we like change.

Everybody’s different, every process has changed differently and leaders need to understand their people that not everybody’s gonna think through the lens that they will.

Shomali: If you’ve enjoyed this series, leave a review and share it with your network. My thanks to today’s contributors and to VPC, the supporting partner of this show.

I’m Carolyn Shomali and I’ll see you next time for one final episode as we rev up change management.