A recent study by the American Society for Association Executives is reporting that more than 60 percent of associations expect total revenues to shrink in 2009, mostly due to lost membership. About 20 percent of associations surveyed have already reduced dues to preserve membership levels in the challenging economy. Groups have also cut travel budgets and renegotiated meeting contracts to save money.
This decline in memberships and the economic climate in general has forced many associations to find new ways to market themselves in hopes of attracting new members. Social media has become very attractive to the next generation of members and therefore is becoming something that many associations depend on to spread their word.

Social networking strategist David Nour says associations can expand outside of websites and blogs to reach prospective members with networks like Facebook, LinkedIn, and Twitter. Social networking is a tool that informally connects people. It gives them a venue to discuss issues that are relevant to them and to the associations. It helps members feel more connected and it can enhance the perceived value of an association and help sustain membership.
 
The Heartland Partnership family of companies embraces social networking. CEO Jim McConoughey, The Heartland Partnership itself, along with the Peoria Area Chamber of Commerce and many staff are active on Facebook, twitter and LindekIn. “It’s a great way to connect with people and share happenings from our companies” says President and CEO Jim McConoughey. He goes on to say social networking is great way to keep people involved and engaged in the organizations. “With the state of our economy right now we need to keep people engaged and keep them in the know on what’s going on with our companies and our region so we can continue build regional confidence.”
If you aren’t already a friend of ours on Facebook, be sure to log on and join us!
Here are a few stories, we thought would interest to you in regards to the current economy.

Home Prices 
Home prices in 20 major U.S. metropolitan areas fell in April at a slower pace than originally forecast. This is a sign that the plunge in real-estate values is dwindling. Mark Vitner, a senior economist at Wachovia Corp. in Charlotte, North Carolina said “It is looking a little bit better. The largest declines are probably past. When prices stop falling, the erosion in household wealth will come to an end.”

U.S. Business Activity
US business activity shrank less than forecast in June. This is a sign the economic outlook is improving as we head into the second half of the year.
The manufacturing sector collapse is diminishing according to Michael Englund, chief economist at Action Economics LLC in Boulder, Colorado. He says the numbers we’re seeing are still weak but we will rebound. Although, he warns it will be an anemic rebound.
An easing in the manufacturing slump and stabilization in consumer spending and housing reinforces the earlier forecasts that this recession will end in 2009. As we’ve warned, even after record inventory cutbacks, it will be slow going. Companies may wait for substantial increases in sales before they start adding employees and boosting investment.

Technology Spending
The analyst firm, Forrester Research, says technology spending in the United States for 2009 will be less than originally forecast. The company reduced its forecast for 2009 information technology spending from a 3 percent decline to a 10.6 percent decline. While is a significant adjustment, the firm says sales are hitting bottom and spending should grow in the fourth quarter. Sales in Europe and Asia should start to bounce back in the first half of 2010.
 
It is "reasonable to be optimistic for 2010," said Google Chief Executive Eric Schmidt. A U.S. recovery is likely to begin this autumn, the worst of the crisis has passed and it is reasonable to be optimistic for 2010, internet search giant Google's chief executive Eric Schmidt said June 26th while attending the Cannes Lions advertising festival in southern France.
Schmidt admitted that Google, like most every other company out there, has been hit by the economic conditions. He says, while the searches are still coming, people are spending less. He doesn't believe that the downturn has stopped the American public from spending their money but he did say it has changed them from buying houses to buying lawyers to help them with bankruptcy. However, people are largely using the Internet to help solve their problems, which benefits Google.

Consumer Protection
On June 30th the U.S. Treasury sent Congress proposed legislation to create a new regulatory agency with powers to write and enforce new consumer protection rules. This could lead to widespread changes to U.S. financial regulations. The proposed agency, Consumer Financial Protection Agency, aims to protect Americans from abusive practices like deceptive and undocumented mortgage lending, poor loan disclosures, and unfair interest rate increases on credit cards.