8/6/2012

Advisor Newsletters - AEM Advisor

Board Approves New Financial Model & Advocacy Plan; First Strategic Initiatives Also Include Member Plan

The AEM Board of Directors at its August 2 meeting in Chicago approved initiatives that will increase advocacy and member engagement and establish a strong, sustainable financial base. The action helps achieve the AEM 2012 Strategic Plan Key Result Area (KRA) goals, and are the first initiatives resulting from implementation of the strategic plan approved last year.

New Financial Model

The Board of Directors approved a proposal that will provide a sustainable and balanced financial model. The projected results of the new financial model will significantly reduce AEM’s reliance on exhibition revenue. The model will also deliver additional resources to provide the level of services desired by AEM members now and in the future.

Action includes examination and benchmarking of dues rates and realignment as needed to reflect the Consumer Price Index, improved member recruitment/ retention strategies to continue net growth, and examination of service areas to improve operational efficiencies and develop new or expanded products of value to members.

Two-Year Advocacy Plan

The AEM Board also approved a two-year advocacy plan that will more effectively integrate and resource all aspects of AEM advocacy for future progress and development. The plan seeks to more deeply engage the AEM membership, build higher awareness and appreciation of AEM member companies (and AEM) among policy makers, improve the business environment for AEM members, and position AEM as a recognized resource for business and policy media.

The plan includes transition of the I Make America public affairs campaign from a focus just on issues to a broader look at the importance and contributions of equipment manufacturing, and significant expansion of AEM agriculture advocacy activities. The plan will also explore issues development in the forestry, mining and utility sectors, and engage AEM Canadian members in a structured advocacy program.

Fully Engaged Members (Using the Membership Survey Results)

With the goal of having more fully engaged members, AEM in 2011 conducted its first comprehensive all-member survey in several years. With a better understanding of the use and value of AEM services to the membership, the association can now move forward with high-quality, actionable information on most- and least-used services, satisfaction and value at the service level.

While the survey revealed that nearly all AEM products/services are top-of-mind reasons why members belong to AEM, specific areas were spotlighted. The Board has approved plans to improve and/or develop additional services to increase the value of activities to members in the areas of market intelligence, technical services, legislation and advocacy, statistics, exhibitions, global business development, education, and marketing/communications.

Action is already underway and includes development of a timeline for regularly scheduled member surveys to measure results, with survey satisfaction numbers as a baseline.

More detail on the initiatives and other action from the August Board of Directors meeting will be provided in future Advisor items and member updates.

AEM Advisor Categories

All Categories
Advocacy & Legislation
AEM News
Agriculture News
Education
From the President's Desk
Market Information
Membership
Safety, Regulatory & Technical
Trade Shows
Workforce Development

Email Communications

Get the Latest from AEM and the Industry
Get AEM and industry news delivered directly to your inbox. Sign up for AEM newsletters, industry news feeds and other important announcements.

Sign Up Now

Twitter

Follow AEM on Twitter
AEM is on Twitter as @aemadvisor. Follow us for AEM and industry news updates, public policy developments and more.

Follow Us