Economic downturns, heightened competition and increased demands on the most precious commodity of all, time, have forced associations to look to their annual meeting as the primary revenue-producing engine. The annual meeting often accounts for as much as 70 percent of all revenue earned by the association.

Producing a successful meeting requires not only an attractive core program, but also dynamic marketing, a year-round Web presence, a savvy sponsorship and trade show element and a sophisticated technological component that touches everything from program planning to registration. That's in addition to on-site logistics, food and the gala reception. Success requires a deep and broad level of expertise and capabilities at both a strategic and operational level. It also requires an intimate understanding of the client organization's industry, its history and emerging trends to integrate solutions in a most effective way.

Association management companies can be among the best conference management resources. The best ones have in-house experts dedicated to convention and trade show planning, marketing and brand management, program and education, financial management and contract negotiations, as well as experience working with volunteer planning committees. This structure allows volunteers to apply their skills and industry knowledge in the most effective way — in building and directing a compelling program that appeals to their peers. Management companies also can offer greater purchasing power because they represent multiple associations.

It's no secret that the annual meeting is often the key to a successful association. It's simply smart business to select the approach that provides maximum return and potential for growth.