The news of the National Restaurant Association taking a majority ownership stake in the B2B media, events, and information company Winsight marks a new era of possibilities for the entire association sector.
This move is a shot across the bow with a major non-profit association stepping up and claiming their rightful place as the media organization they have truly always been. Only now, they have the strategic platform, data assets, muscle, media reach, and marketplace position to serve their member companies in ways that are exponentially more powerful than ever.
The National Restaurant Association has always been on the vanguard of leading the association community with exceptional leadership, a for-profit orientation, a clear market-focused business model, and ambition to lead, adapt, and innovate.
For the past 10 years, anyone who has followed 360 Live Media knows that we were founded on the premise that ALL associations are media organizations. We believe that every association is poised to seize the opportunity to shift to a new business model that turns them loose to fully leverage the lifetime value of their members by providing the information, insights, and commercial opportunities that the world’s best for-profit media companies have long ago perfected.
Revenue growth, new subscription membership models, and a reinvention of conferences and trade shows, as well as much more focused community building initiatives are the outcomes every association is striving to evaluate and adopt.
Now, we have a major association stepping up, leading the way, and boldly redefining what it means to be a twenty-first century association.
There’s much more to come as we learn more about this big news. Stay tuned and ask yourself: What will be our big, bold, ambitious move to make 2022 and our future value proposition relevant, compelling, and indispensable to a rapidly changing set of needs and expectations of a new generation of members for whom the traditional association model may be less compelling than it was to your current legacy members?
The path forward will be less daunting, more exciting, and more successful if you start now. The rate of change is moving faster than ever, and there will never be a better time than the next 12 months to begin this new journey.
There are other great examples of best-practice associations that have made great strides towards a new media-focused future. You’ll be in good company.