Survey Results on the Impact of COVID-19 on the Association Industry – Week 2 (March 17 – March 23)
Written by the Avenue M Team
To understand how the impact of COVID-19 on the association industry is progressing as the crisis evolves, Avenue M compared responses from association professionals between Week 1 (March 10-16) and Week 2 (March 17-23) of our quick pulse survey. The results below are based on more than 150 complete responses across the two weeks; some association professionals who answered the Week 1 survey also responded to the Week 2 survey. Responses are from association professionals representing a range of professional and trade associations.
Concerns about Financial Health/Stability
By Week 2, the number of association professionals who are very concerned about COVID-19 negatively affecting the financial health/stability of their association in the next 12 months grew. Though the difference between Week 1 and Week 2 is not statistically significant, this trend could continue over the next few weeks and months.
Planning for the Months Ahead
Compared to respondents in Week 1, respondents in Week 2 were more likely to indicate they were looking to provide members with specific resources to help deal with issues surrounding COVID-19 and planning to revise their current budget. Additionally, while about three in ten respondents in Week 1 said they may delay hiring staff or contractors, more than half of respondents in Week 2 indicated they may take this action.
When compared to the respondents in Week 1, respondents in Week 2 indicated they anticipate their organization taking more actions, on average, as a result of COVID-19. While respondents in Week 1 indicated their organization would enact an average of 6 of the listed actions as a result of COVID-19, respondents in Week 2 said their organization would enact an average of 8 of the listed actions.
Delays in Renewals
In the second wave of the survey, we asked two new questions:
- Are you planning to delay dues renewal?
- Are you extending grace periods for members who have missed the renewal deadline?
Few association professionals indicated they are planning to delay dues renewal, but more than one-quarter of association professionals who responded in Week 2 said they were extending grace periods for members who have missed the renewal deadline.
What should your association start doing now to prepare for the potentially long-lasting impact of COVID-19? Check out our recommendations here.