If you’re in the business of selling products or services to associations, you may have come across the term “Association Management Company” (AMC). But what exactly is an AMC, and why should you care? In this article, we’ll explore the world of AMC and explain why they can be an essential part of your association sales strategy.
What is an Association Management Company?
In simple terms, an AMC is a company that manages multiple associations. Rather than each association having its own staff and infrastructure, they outsource these functions to an AMC. This means that a single AMC can manage the day-to-day operations of many associations, often with the same staff members working across multiple organizations.
Why Do Associations Use AMC?
There are several reasons why associations choose to work with an AMC:
- Cost-Effective: By outsourcing their operations to an AMC, associations can save money on staffing and infrastructure costs.
- Expertise: AMC staff members often have specialized expertise in association management, allowing them to provide better service to the associations they manage.
- Flexibility: AMC services can be tailored to the specific needs of each association, providing greater flexibility than hiring full-time staff members.
- Scalability: As associations grow or change, an AMC can quickly adapt to meet their needs without requiring significant investment in new infrastructure or staffing.
How Do AMCs Work?
AMCs operate under contract with each association they manage. The AMC staff members work as the executive directors and staff of the association, while the association’s board of directors retains ultimate control over its operations. Each association is assigned an “account executive,” who acts as the main point of contact between the association and the AMC.
Why Should You Care About AMCs?
If you’re in the business of selling products or services to associations, AMCs can be a valuable part of your sales strategy. Here are a few reasons why:
- Access to Multiple Associations: By working with an AMC, you can gain access to multiple associations with a single point of contact. This can be a more efficient way to reach a large audience than trying to contact each association individually.
- Increased Visibility: If you can get your product or service in front of an AMC, you may be able to reach multiple associations at once. This can increase your visibility in the association market and help you build your brand.
- Networking Opportunities: AMCs often hold events and conferences for the associations they manage. These events can be a great opportunity to network with association staff members and build relationships that can lead to future sales.
- Efficiency: By working with an AMC, you can save time and money on marketing and outreach efforts. Rather than trying to contact each association individually, you can focus on building relationships with a single point of contact.
AMCs can be an essential part of your association sales strategy. By working with an AMC, you can gain access to multiple associations, increase your visibility in the market, and build valuable relationships with association staff members. If you’re looking to the association market, it’s worth exploring the world of AMC to see how they can help you get on more stages.
If you are a member of the community Ed Rigsbee has full 20 minute program on Association Management Companies that includes names, examples and strategies to succeed. Watch it here.