NAICS 81391 - Business Associations
This industry comprises establishments primarily engaged in promoting the business interests of their members. These establishments may conduct research on new products and services; develop market statistics; sponsor quality and certification standards; lobby public officials; or publish newsletters, books, or periodicals for distribution to their members.
Industry trends:
In recent years, Business Associations (NAICS 81391) have been experiencing significant qualitative trends influenced by technological advancements and shifting member expectations. One dominant trend is the growing emphasis on digital transformation. Associations are increasingly adopting digital platforms for member engagement, utilizing social media, webinars, and virtual conferences to deliver value. This shift has been accelerated by the COVID-19 pandemic, which necessitated remote interactions and highlighted the importance of robust online infrastructures.
Another trend is the focus on personalized member experiences. Associations are leveraging data analytics to tailor their services and communications to individual member needs, enhancing satisfaction and retention. This personalized approach is driven by the increasing diversity of association membership, which spans multiple generations and industries, each with unique requirements and preferences.
Looking ahead, forecasts suggest that business associations will continue to integrate advanced technologies like artificial intelligence and machine learning to further personalize member interactions and optimize operations. There is also expected to be a greater emphasis on advocacy and thought leadership as associations strive to position themselves as indispensable resources in rapidly evolving markets. Additionally, the hybrid model of in-person and virtual events is likely to become a standard practice, blending the benefits of physical networking with the accessibility of digital platforms.
Overall, these trends indicate a future where business associations will need to be agile and innovative, continually adapting to technological advancements and the evolving needs of their members to remain relevant and valuable.
This industry is comprised of:
Agricultural organizations (except youth farming organizations, farm granges)
Animal breeders' associations
Bankers' associations
Better business bureaus
Boards of trade
Business associations
Chambers of commerce
Construction associations
Contractors' associations
Distributors' associations
Farmers' associations
Farmers' unions
Growers' associations
Hospital associations
Industrial associations
Insurers' associations
Junior chambers of commerce
Manufacturers' associations
Merchants' associations
Mining associations
Producers' associations
Public utility associations
Real estate boards
Restaurant associations
Retailers' associations
Service industries associations
Shipping companies' associations
Trade associations
Warehousing associations
Wholesalers' associations
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.