Despite political dysfunction, pressure is increasing for Trade Associations to notch policy wins. Industry Executives are feeling the pinch of higher regulatory costs, and they want their Trade Associations to deliver results regardless of dysfunction. Whether it be in State Capitols or in Washington, DC the challenges are the same. While Trade Associations effectively utilize coalitions to build a bigger base of support there are other options to put on the table. In several instances, Trade Associations are utilizing ecosystems consisting of Industry Supply Chains and Value Chains to far extend their reach. In doing so, they are better positioned to notch more wins over the long term.

Trade Associations that utilize uncertainty to evolve their value propositions will be in a much better position to engage their members, grow their membership, and more effectively shape the business environment for the Industry they serve. Based on rapid moving competitive issues, cost pressures and the risk of increased military conflict, Trade Associations have an unprecedented opportunity to be the solution that Industries and Members are seeking. For Trade Association CEO’s thinking through their 2024 strategic moves, it’s a time for reimagination.

Advocacy is at the core of every Trade Association Business model. However, Advocacy and how Trade Associations execute their policy and regulatory efforts is rapidly evolving. At a time when Industries most need help, the polarized political environment is stalling forward movement on key policy initiatives. In response, Trade Associations are reimagining their approaches to policy and regulatory challenges, and they are delivering new approaches to achieve Advocacy results that their Boards and  members expect.

As Trade Associations think through how to best address the unknown unknowns, they are using actionable market research. CEOs and staff recognize how busy their members are, and that the key to success is delivering a value imperative that demonstrates how an organization is moving the needle for both their Industry and their company.

As corporate budgets tighten, Trade Associations are leaning in and building strategic partnerships with Industries, and they are providing increased member value through their Strategic Plans. In many cases, Strategic Plans serve as a roadmap for how Industry challenges can be overcome and how Trade Associations and Members work together to achieve a more favorable business environment. This approach yields higher levels of Board and Member engagement because it demonstrates a direct return on investment for companies. More important, it also makes a strong case as to why companies should join or renew their Trade Association membership.