Hi {{ subscriber.first_name or "Friend" }},
James Quincey, CEO of Coca-Cola, has killed off nearly half of his company’s 400 brands, including Tab, Odwalla smoothies and Zico coconut water. Why? These 200 brands represented only 2% of sales. As interest in full-sugar soft drinks wanes, Quincey faces the challenge of creating a portfolio that will push company growth—and there’s no time to
waste.
Harrison Coerver and I addressed “purposeful abandonment” in Road to Relevance: 5 Strategies for Competitive Associations. We wrote: “The tendency of associations is to continue to add programs and
services without the critical process to discontinue those that have lost their appeal, those that never lived up to expectations, those that continue to require bigger and bigger subsidies, and those that are uncompetitive.” We cited Steve Jobs as an example of the power of abandonment. When he returned to Apple after a 12-year hiatus, he eliminated 70 percent of the product line. The strategy not only saved Apple, it fueled a turnaround from a $1.04 billion loss in 1997 to a $309 million
profit in 1998!
Often, when we think of sunsetting underperforming programs and services, we think about what will be lost. We don’t think about possible gain: freeing staff and financial resources, reducing communications clutter and making room for new programs and services. As James Quincey notes, "One of the things about driving risk-taking and innovation is not to let the fear of what you're going to lose obscure
the possibility of what you might gain."
As you think about the year ahead, think about this: innovation isn’t always about adding. Sometimes it’s about subtracting. This is known as a “shrink to grow” strategy. It seems counterintuitive but can be very powerful. (If you want to learn more about Quincey’s strategy, you can read about it here.)
Sincerely,
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Exceptional Boards In-Person in 2022
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Exceptional Boards is an intensive two-day workshop for association CEOS/Executive Directors and their elected officers to explore strategies for strengthening their working relationship and enhancing the board’s performance. I’m privileged to co-lead this program and delighted that it helps start candid conversations between association leaders
regarding how they can support one another. The January program is sold out but you can learn more here and reserve your spots for May 23, & 24 in Baltimore here.
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In 2022 we are resharing 22 of our favorite podcast episodes. Why? Because it sounds like fun—and because we know repetition is the mother of all learning. We’re carefully curating this list, touching on everything from changing membership models to new technologies. We hope you’ll join us on this listening journey! Episodes are 25 minutes or less so that you can easily
squeeze them into your day.
Ep #43: Keith Chamberlain – All-Access Membership Model for Growth
A new Netflix-inspired, all-access membership model helps the Healthcare Financial Management Association grow new individual members by 36% and improve retention rates by 4.5% in its first year.
Ep #3: Ralph Johnson – Tiered Pricing Coming to an Association Near You
The Colorado Veterinary Medical Association launched tiered pricing in 2016. The result? A membership increase of 11.5%! (Yes, you read that right.) CVMA lets members “choose their adventure” via three membership tiers. In this episode, I interviewed Ralph Johnson, former CEO of CVMA so that you can learn about their journey — and why you might want to follow their
lead.
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Motivating presentations and compelling topics presented with insight, energy and enthusiasm. Book Mary for your next corporate or association event.
| Associations are challenged like never before. How can your association create a viable and sustainable future? Find out in Race for Relevance: 5 Radical Changes for
Associations and Road to Relevance: 5 Strategies for Competitive Associations.
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Listen to Successful Associations Today—Mary's twice monthly podcast show with association leaders and innovators.
| Access Mary’s Innovation Research and Digital Vault to help, support and encourage association transformation.
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