8/6/2012Advisor Newsletters - AEM Advisor
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.
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