“ What we measure , we can manage . However , without the foundation of research and data , our management is merely the expression of opinions .”
BENEFITS OF SPA INDUSTRY RESEARCH
1 Informed decision-making : Industry research provides comprehensive data on market trends and customer preferences , enabling business owners to make strategic decisions based on solid evidence rather than assumptions .
2 Benchmarking performance : Access to industry-wide data allows members to benchmark their own performance against the industry standards , helping them identify areas for improvement and measure their success relative to peers .
3 Identifying growth opportunities : Research on industry health and growth highlights emerging trends , new markets and potential areas for expansion , offering business owners insights into where they can invest or innovate to capitalize on growth opportunities .
4 Enhancing credibility and trust : Being part of an association that conducts and disseminates high-quality research can enhance the credibility of the member businesses . Customers and partners are more likely to trust businesses that are aligned with data-driven practices and industry standards .
5 Advocacy and policy influence : Industry research can provide valuable data for advocacy efforts , helping the association and its members influence policy and regulations that impact the industry . Well-researched data strengthens the case for favorable policies and helps protect the interests of the industry . n
TODD SHAW WILL SAY WHATEVER IT TAKES TO GET YOUR ATTENTION .
“ What we measure , we can manage . However , without the foundation of research and data , our management is merely the expression of opinions .”
— Todd Shaw , ISPA Foundation Chair
JULY / AUGUST 2024 n PULSE 61