Why Industry Reports are Your Association's Member Lifeline

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December 7, 2023

Providing in-depth industry analysis is a valuable service for associations, offering vital insights to members through reports that gather statistics, identify trends, and predict future directions. A survey by Marketing General Incorporated revealed that 81% of association members rely on their trade association for these reports, as they often lack the time or resources to conduct extensive research themselves. These reports enable associations to identify opportunities and threats, develop strategies, make informed decisions, and advocate for members' interests in policy discussions, highlighting their importance in understanding industry shifts that could impact businesses.

How do you create compelling industry reports?

Start by conducting surveys to determine what information and data your members need most. Then gather statistics from reputable public data sources, industry studies, and your own membership surveys. Look for trends by comparing current statistics to historical data. Discuss challenges such as economic, political, or social issues affecting your industry. Include insights and opinions from industry experts and executives. Predict future growth areas as well as potential obstacles. In addition, make sure to always include the following in the report:

  • Market overview: A comprehensive analysis of the market size, growth rate, and potential opportunities and challenges. This section may also include information about the market's structure, such as market segmentation and key market players.
  • Competitive landscape: An examination of the major competitors in the industry, their market share, and their strategies. This section often includes a SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) for each competitor.
  • Technology and innovation: An assessment of the impact of emerging technologies and innovations on the industry. This section may include information on new products, services, or business models that are disrupting the market.
  • Regulatory environment: An overview of relevant regulations, policies, and legal factors that can influence the industry. This section may cover areas such as government regulations, industry standards, and compliance requirements.
  • Economic factors: An analysis of economic factors that can impact the industry, such as GDP growth, inflation rates, and interest rates. This section may also include information on global economic trends and their potential impact on the industry.
  • Market trends and outlook: A discussion of current and emerging trends in the industry, including consumer preferences, market shifts, and future projections. This section often includes insights into potential growth areas or untapped markets.

It's important to note that the specific content and structure of an industry analysis report may vary depending on the purpose of the report, the audience it’s being sent to, and the industry being analyzed.

 

Conclusion

By creating a data-rich industry analysis report, your association can demonstrate its value and help members gain a competitive advantage. Make your report a benefit of membership and update it annually to keep it relevant. This high-value resource  will ultimately help your members navigate industry changes and allow them to become more proactive than reactive.

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