December 2022

Happy Holidays

The Inventures team would like to wish you a wonderful holiday season and a prosperous New Year!

A Year in Review and a Look Ahead

The end of 2022 has arrived faster than most of us expected and I have to say that it's been a busy and exciting year with several new clients, a return to in-person meetings, the addition of new personnel and changes to the Inventures organizational structure.

The Value of Member Testimonials

Testimonials are written or spoken statements that praise or endorse a brand, product, or service. In the case of member testimonials, you are searching for the right source to entice a potential member to take that final step of joining your organization.

Employee Spotlight

Kevin Schader discusses his role as Vice President of Ecosystem Development & Collaboration and the keys to managing volunteer-based alliances and associations.

Thread Included in TIME's Best Inventions of 2022 List

Thread Group, an industry alliance enabling IoT convergence, and addressing challenges around security, energy footprint, and architecture at the network layer, was honored to have Thread recently included in TIME's Best Inventions of 2022 List which features 200 extraordinary innovations changing our lives.

UnitVisID™ Leads Growing RFID Use in Healthcare with Rebrand

UnitVisID Alliance was originally launched as the DoseID Consortium and recently rebranded to better reflect the organization's commitment and mission to ensure the quality, performance, and interoperability of RFID-tagged pharmaceutical products as they move through the supply chain.

WCLBMA Holds Highly Successful Annual Convention Featuring Keynote Speaker Bill Walton

The West Coast Lumber & Building Material Association (WCLBMA), a non-profit trade organization representing independent lumber and building material dealers, held a highly successful annual convention on October 19- 21 in San Diego, CA

A Year in Review and a Look Ahead

The end of 2022 has arrived faster than most of us expected and I have to say that it’s been a busy and exciting year with several new clients, a return to in-person meetings, the addition of new personnel and changes to the Inventures organizational structure.

First, we are honored to add the following organizations to our list of clients that we proudly serve:

• AUTOSAR
• Wireless Broadband Alliance
• Accountable Digital Identity Association
• Naffziger Surgical Society
• American Institute of Mining, Metallurgical, and Petroleum Engineers

To support our new clients and increased service levels for existing clients, we welcomed three new members to the Inventures team in 2022: Gabriella Gonzalez, Lora Cavalli, and Shellie Smith.

We were sad to say goodbye, yet also happy for, Lory Yeakle, VP of Client Operations & Services, who retired after almost 15 years of service to Inventures and distinguished careers at Visa and IBM. As a result of Lory's retirement, we made some changes to the organizational structure of Inventures and I was privileged to take on the role of President. These organizational changes would not have been successful without the strong support of the entire senior leadership team, who took on new roles. This team includes Kevin Schader, VP of Ecosystem Development & Collaboration; Steve Crumb, VP of Client Services, and Jessica Esparza, Director of Operations.

Almost all Inventures clients were able to meet in person again in 2022. It was a real pleasure to return to in-person meetings and witness the power and effectiveness of in-person collaboration.

In addition to reflecting on 2022, at this time of year, it's also fitting to look ahead to 2023. From my perspective, the Inventures team will focus on two main areas in the upcoming year. The first focus is launching new organizations. We have been in conversation with a few potential new technology alliances and associations that we hope to launch. The second area of focus, and also a continued focus for us, is our mission. Inventures' mission is to enable our clients to achieve their mission. In 2023, we will continue to provide best-in-class services to our clients so that they can achieve their missions efficiently and effectively. We know the Inventures team cannot achieve long-term success unless our clients are successful!

I wish you all a happy holiday season and wonderful start to your new year!

Stan Moyer
President, Inventures

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The Value of Member Testimonials

Collaborative organizations, such as alliances or associations, rely heavily on word-of-mouth marketing. Built off belief in a shared vision, these organizations must prove to potential members their benefit and nothing trumps a rave review from a valuable industry player.

Testimonials are written or spoken statements that praise or endorse a brand, product, or service. In the case of member testimonials, you are searching for the right source to entice a potential member to take that final step of joining your organization.

Below are a few tips for gathering the right testimonials for your alliance or association:

1. Gather The Essentials
   When starting outreach, remember you are looking for a loyal member who's gotten value from their membership and plans to continue renewing in the years to come. Make sure to include how long they've been a member, how they've gotten involved, and, most importantly, what they've found to be most beneficial from being a member.
2. Think About Your Audience
   There are typically various levels or types of members in a collaborative organization and not all members are recruited the same. When outreaching to current members or deciding which testimonials to promote on your social media or website, make sure you have all your bases covered. Think about what would apply to upper-level members, those willing to make a larger investment, and what they might want to hear in regards to your value offerings. Think about those who may not have the budget to spend but want to invest their time in furthering your mission; they most likely are curious about volunteer opportunities or events.
3. Be Patient
   Testimonials, especially strong ones, are not easy to source. It may take time but keep in mind it’s worth it because of all the benefits they bring to your organization. It may be helpful to draft up thought starters for your members or host a call to gather info on the fly. Although testimonials are tricky at times, they are also a free marketing tool that often outweighs pricier tactics when it comes to results.

According to a Wyzowl study 95% of people say both positive and negative reviews influence how they make purchasing decisions. If reviews have such a strong impact on consumers, they definitely play a role when it comes to companies making a decision on whether to join an alliance or a professional curious about joining an association. Member testimonials increase your credibility, build trust, and provide social proof of your value as a whole. When thinking about your 2023 marketing plan, be sure to include testimonial outreach.

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Employee Spotlight

What is your role at Inventures?

Vice President, Ecosystem Development & Collaboration where I manage executive directors, program managers and our world-class Events Team. I also support four clients innovating across four different industries.

What does your job entail and what is a typical day like?

Typical days are not so typical since we manage global organizations. The struggle to find the multi-continent meeting time sweet spot is real. My days can begin as early as 6 am and occasionally end after midnight since we work to ensure that as many of our clients' members can participate in meetings. I spend most of my time helping clients navigate a variety of issues regarding their trademarks, export compliance and creating new processes or procedures. These may not be sexy tasks, but they are essential to helping our clients both deliver and maintain value for members.

What's the key to managing volunteer-based alliances and associations?

Understanding that no two are alike. Our clients are blazing new trails by making new ecosystems and markets, or challenging the status quo by improving existing ones. Staying curious about what each client is doing is essential to being part of the solution. The one thing that the pandemic reinforced is the value of in-person collaboration. Yes, we got by on Zoom for the last two years, but nothing beats a meeting with engaged and passionate folks around a table. While much of our client's day-to-day work is completed virtually, it's at the in-person meetings where things truly coalesce and collaboration pays dividends.

If you could do another job for just one day, what would it be?

Being a philanthropist would be both fascinating and impactful.

What is your favorite vacation destination?

The Big Island of Hawaii is my happy place.

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Client News: Thread Included in TIME's Best Inventions of 2022 List

Thread Group, an industry alliance enabling IoT convergence, and addressing challenges around security, energy footprint, and architecture at the network layer, was honored to have Thread recently included in TIME's Best Inventions of 2022 List which features 200 extraordinary innovations changing our lives.

Thread technology was chosen from TIME's editors and correspondents around the world, paying special attention to growing fields - such as the IoT, electric vehicle industry, green energy, and the metaverse. TIME then evaluated each contender on a number of key factors, including originality, efficacy, ambition, and impact.

Inventures helped build Thread Group from the ground up, beginning with its formal launch in 2014 through today. We are so proud to be Thread Group's management partner over the years and can't wait to see what's in store for Thread Group in 2023 and beyond. Congrats to Thread Group!

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Client News: UnitVisID™ Leads Growing RFID Use in Healthcare with Rebrand

UnitVisID Alliance was originally launched as the DoseID Consortium and recently rebranded to better reflect the organization's commitment and mission to ensure the quality, performance, and interoperability of RFID-tagged pharmaceutical products as they move through the supply chain - from manufacturing to patient use. Read the full press release here.

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Client News: WCLBMA Holds Highly Successful Annual Convention Featuring Keynote Speaker Bill Walton

The West Coast Lumber & Building Material Association (WCLBMA), a non-profit trade organization representing independent lumber and building material dealers, held a highly successful annual convention on October 19- 21 in San Diego, CA. The convention kicked off in style with a welcome video from Congressman David Valadao (R), U.S. representative from California's 21st congressional district and featured keynote speaker, Bill Walton, basketball legend, broadcaster, humanitarian, and survivor. Read the full press release here.

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