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Association Management

How AMCS can use Benchmarking Studies for Competitive Advantage

Feb 10, 2015 3:00:00 PM

Differentiating your company from others in your industry is an ongoing challenge for all businesses. Creating a unique selling point that resonates with your target audience is the holy grail of success and, sometimes, just as difficult to find. But delivering true value, a unique offering or simply being the better solution will certainly put you in an excellent position to come out on top. For association management companies, providing benchmarking studies for your customers is an excellent means of placing yourself above the competition while also providing you with valuable industry data to help you stay ahead of the curve and maintain that superior position.

One of the most compelling reasons for obtaining and renewing membership in associations is access to the proprietary business intelligence that benchmarking studies can provide. These studies provide valuable data not only for your client and their members, but also for your management business by allowing greater insight into the service offerings most desired and valued by your customer base. When you deliver these services to your association clients, you are able to help your customers with one of their greatest challenges, member recruitment and retention.

The data interpretation and analysis offered by a good benchmarking solution can also position your AMC as a reliable and expert advisor to your clients, not just another service provider. The business intelligence provided by these studies not only benefits your clients directly, but can position you as an industry expert, creating opportunity for additional services or publications, and, of course, building a new revenue stream.

Delivering value to customers is of utmost importance to all companies, especially service businesses like AMCs. Benchmarking studies offer a great means of positioning your firm as a forward thinking business partner who’s invested in the success of its clients.