It is absolutely true that businesses participating in performance benchmarking get enormous value from partaking.
What is often forgotten is that the major winner in providing data benchmarking is the association which delivers the opportunity in the first place.
Each member business will be submitting data to be shared via a benchmarking portal with other members.
Along with this they will enter profile information that represents the segments of the industry to whom they wish to compare.
Whilst individuals benefit from this anonymous process, the collated results from industry profile segments produces extremely powerful information on the industry in question.
The sponsoring association not only receives industry general intelligence but also access to indepth and detailed intelligence based on profile groups such as location, size of business, type of business, members versus non-members etc
This is incredibly valuable information that is made available to the association simply by deciding to facilitate the information sharing opportunity for its members.
Providing business members with access to critical information that they value is probably one of the most engaging tools an association can offer.
In addition to the promotional activity that a shrewd association will implement, services like branded Business Benchmarking Private Portals will also ensure a high level of credit.
These tools help create maximum recognition and a clear understanding that the service being delivered is a direct result of the active association participation.
Various value offerings can be utilized to actively facilitate this engagement for membership by offering services like variable pricing based on membership versus non-members, or delivering higher level reports to members versus non- members etc.
This actively engages existing members and demonstrates worthwhile membership benefits for non-members.
Revenue Generation for the Association
By providing anonymous information sharing platforms using BBS your organization is delivering key business information to your members.
Critical comparisons of business activities are a treasured commodity to any business manager.
This crucial business information has a financial value and traditional ‘sponsorship’ methods may not necessarily be applicable.
Businesses can, and will, pay for quality information that is accurate and relevant.
With the level of sophistication nowadays, benchmarking is more often considered a revenue generating tool rather than a free service.
BBS provides your organization with the choice of sponsored, revenue generating or hybrid solutions.
Options may include:
- Fully sponsored – completely sponsored with no cost to the end user.
- Cost recovery – a fee is charged with the sole goal of recovering the cost of the benchmarking
- Fully commercialized – a participation fee is charged that reflects the value that is being delivered
There are many variations and hybridizations of these three options. For example – an association may offer a free benchmarking to members but fully commercialized benchmarking for non-members.
Commercially supplied benchmarking surveys mean that quality of delivery must be at the forefront of design.
This is what BBS does bests.
For more information about association benefits:
- Business Benchmarking Solutions website at www.benchmarkingsolutions.net
- Contact Rob White at email@example.com