TODAY'S BUSINESS CHALLENGE:

Mark is a meeting planner who works for a variety of professional associations. For many of these associations, the highlights of their annual conferences are a series of panel discussions featuring some of the top executives in their profession.

For the past three years, most of these associations have noticed an alarming drop in attendance at their annual conferences. While they attribute some of this to the growth of the Internet and to rising travel costs, the overwhelming factor seems to be that association members are too busy to attend these conferences. This puts Mark's clients in a tight bind:

• Without a sufficient number of registrants for their conferences, the associations can't afford to underwrite the appearances and travel costs of their star panelists.

• Without the insight from these industry experts, Mark's clients would fail to provide a valuable service to their members -- who might choose not to renew their membership dues.

Although each association has a monthly publication, the rising costs of paper, postage and ink -- coupled with stagnant advertising sales -- forbid publishing the transcripts of these roundtable discussions in traditional media outlets.

TOMORROW'S BUSINESS SOLUTION:

One of Mark's clients is a medical organization whose Executive Director suggests that Mark seek help from the management of Alert & Oriented Transcription Services. After listening to his predicament, Alert & Oriented's partners make some surprising suggestions:

• Why not have a moderator from each association conduct conference calls with industry experts on a regular basis? Each call can be electronically patched so that it is recorded on Alert & Oriented's digital dictation system.
  
  
• The transcript can then be sent to Mark, who will work with his clients to have the transcript edited and formatted to serve two purposes.

• In one version, the transcript will be formatted to work with a (900) fax-on-demand service which generates income each time the document is faxed to a recipient.

• In another version, the transcript will be programmed in HTML format and stored on the association's web site as a purchase-protected downloadable file.

Each format allows the association to distribute the transcript electronically at minimal cost while developing a valuable new revenue stream. Within six months, Mark's clients are ecstatic with the results.

• The venture has been so successful that they have switched from one panel at each annual conference, to a monthly schedule of conference calls.

• Association members are happy to purchase the transcripts for a token cost and able to access them from anywhere in the world on a moment's notice.

• Because many members now feel like they're getting a higher level of service from their professional association, they are more inclined to renew their memberships.

This has also allowed Mark to propose a new format for several smaller regional trade shows and conferences which will be more exciting, more manageable, and more salable to each association's members. Meanwhile, his clients have recommended Mark as a consultant to ten potential new accounts.