Top 10 tasks before your association expands into emerging markets.
Written by Sheri Jacobs, FASAE, CAE
(Image: Adobe Stock)
According to a recent research report published by ASAE Foundation, six major emerging economies – Brazil, China, India, Indonesia, South Korea and Russia – will account for more than half of all global growth by 2025. When respondents were asked to identify the country with the greatest growth potential, it was no surprise that China topped the list.
Any organization that has gone global knows that economic growth does not always translate into membership growth. The recommendations that emerged from the ASAE Foundation study touched upon dedication/commitment, relevancy, operations, partnerships and opportunities within emerging markets.
Building on the information contained in this report, I would add the following Top Ten List of tasks to consider before going global:
- Define organizational goals and success metrics.
- Complete an internal readiness assessment.
- Identify and secure commitments from key stakeholders.
- Identify the competition in each target market.
- Conduct a needs assessment.
- Conduct a pricing analysis and develop a strategy for each target audience.
- Identify and explore cross-border alliances and partnerships to build a local or regional presence.
- Understand legal and regulatory issues.
- Identify IT infrastructure requirements and barriers.
- Assign full-time professional staff at the headquarters office dedicated to your efforts.
Sheri Jacobs, FASAE, CAE, is the author of The Art of Membership: How to Attract, Retain and Cement Member Loyalty, published by ASAE and Jossey-Bass (January 2014).
Posted on July 8, 2014