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Similarly, analyzing your event data from many angles can lead to a major impact on revenue. Situation : We’ve looked at the trend analysis and it indicates that we are not projecting to make our registration goal. In our previous blog posts on retention and product value , we illustrated how data isn’t one dimensional.
Education revenue. D2L describes the four factors to consider when developing a revenue strategy for your association’s education programs and five models for monetizing those programs. Take away actionable strategies to boost sponsorship revenue and create lasting partnerships. More info/register. . 1 CAE credit. 1 CAE credit.
As you strategize for the future, consider a few add-on tools to help you amplify the impact of your online community and strengthen your ability to meet the personalized needs of your members while driving association revenue, among other business objectives like recruitment and advocacy. Strategic content delivery.
Business Growth Hacking Lab To grow your membership and non-dues revenue to the next level, what changes must be made in marketing, tech, people, and business development? Learn how to foster cross-departmental collaboration to create new revenue opportunities. Come hear AI strategies from your fellow association executives.
If you’re like most associations, it’s likely that your member dues have been in decline and that means you’ve got to look at other ways to make up for that difference, Diversifying revenue streams is key to long-term success, but your association doesn’t need to look far for solutions.
Everybody’s talking about how to improve the customer experience (or CX) these days, but if better customer experience doesn’t translate into dollar signs for your revenue growth, then is the effort even worth it? Revenue Retention. Qualtrics’ analysis shows that the opportunity to increase revenue retention is greatest in software.
Many organizations measure the success of their products by aggregate revenue, engagement numbers, and member feedback. Consider these key questions as you assess your product’s value: How much revenue is it generating and how many units have been sold? Understanding post-purchase behavior is an important part of the analysis.
Improving the Bottom Line with Non-Dues Revenue. While I’m not going to weigh in on either side (that is a decision best made by individual associations on a per case basis), what does become even more important is alternate forms of non-dues revenue. Buyer’s guides are also a popular way to increase non-dues revenue.
Sustainable nonprofits have diverse revenue streams, from donations to grants to sales. However, while nonprofits that sell products and services can make more than enough revenue to sustain themselves, undertaking commercial affairs comes with several considerations. Revenue is invested back into the nonprofit. Distribution.
What is a SWOT Analysis? Taking time to regularly analyze these factors is an important part of strategic non-profit planning and analysis. How to Conduct a SWOT Analysis? For a general analysis, keep it simple. Examples could include strong non-dues revenue and powerful software. Just start listing things.
Karine Desbant at MCI describes how their client associations are generating new revenue streams and growing membership by repurposing content. How Associations Use Data to Drive Revenue Learn how to use data insights to increase member engagement and generate new revenue streams. 1 CAE credit.
All of this (combined with the knowledge of what type of members go to conferences and how far members and customers travel to conferences) enables us to do some fancy analysis and predict our attendance at an event and how much revenue it will bring in—even if we are planning years ahead. Can you show that data to me geospatially?”.
Whether you’re new to event planning or a seasoned planner who’s navigated snowstorms, hurricanes and global pandemics, the in-depth analysis of the case studies in this episode are guaranteed to up your contract acumen. More info/register. Host: Heather Reid, Planner Protect Guest: Anthea Rowe, Exmplify Thu 1/16 at 11 a.m.
Fact: 50% of association revenue is generated from non-dues sources. Check out these 3 things you can do today to increase non-dues revenue using technology you probably already have: JOB POSTING SERVICES. When employers pay to boost job opportunities directly to your job board, revenue will follow. It’s a win-win.
Recovery in earned revenue and individual giving lag behind inflation When nonprofit arts organizations reopened their doors after the pandemic, they faced a new hurdle: high inflation. When adjusted for inflation, earned revenue dropped 12% over the five-year period. months’ worth of expenses, far greater than the 3.9 months in 2019.
This analysis reveals an insight you can now act on to improve the member experience – consider reaching out to manager-level members to find out why they’re not renewing, or perhaps develop content specifically around their pain points and target them with personalized messaging during renewal period.
In 2025, Congress is likely to consider new tax increases on association revenue, such as membership dues, sponsorships, investment income and educational program revenue. Get a comprehensive analysis of these findings and discuss their implications for planners and their supplier partners in the year ahead.1 Tax reform threat.
With analytics, the benefits sell themselves: Reducing manual work Optimizing processes Growing revenue Having consistent, trusted data Increasing engagement Driving your association’s mission For example, consider an association dedicated to promoting literacy. However, the trick is to shift the conversation from the process to the outcomes.
Determining the best ways to effectively communicate with members, drive engagement and grow non-dues revenue is a constant focus for associations. . Look at the impact of your communication channels through readership analysis, operational cost and revenue generation to determine which are successful. Look at what’s trending.
Are you using it to increase revenue and lower costs per renewal? While wrangling all of this data into one place for analysis can be quite the challenge, it’s worth figuring out how to do it. At the same time, your analysis might show that members who attend your annual conference have a high renewal rate.
the revenues of competitors with lower engagement.”. Imagine what you could do with all that extra revenue!! Let’s give them the benefit of the doubt and assume (a) they did actual statistical analysis behind this statement and (b) their measure of engagement is decent. That seems pretty cool, right?
Many members are struggling financially because they’ve been laid off, had their budget cut, or suffered revenue losses. Association websites compete with for-profits, media, and other associations for eyeballs, mindshare and even revenue. From Virtual Events to Real Revenue. Affordable membership. Chapter bright spots.
As 2020 dawns, many associations are looking to make sure they have a steady influx of revenue streaming in. If you’re looking to boost the revenue at your association, don’t rely on superstitions. Focusing on all customers and your organization’s reach will help improve nondues revenue from other sources, such as corporate sponsors.
It’s always filled with insightful analysis on how online communities, both internal and external, are making a difference. Revenue growth. Every year, The Community Roundtable releases the State of Community Management Report. This year is no different. External communities contribute to these business outcomes: Customer Loyalty.
When it comes to non-dues sources of revenue, not all are worth the time, energy and effort. Organization leaders need to understand the total value of the revenue source, which means more than the return on investment; it also means looking at how much mission impact is perceived to be achieved by board members, staff, and members. .
As the volume of business information exploded, sales ops has evolved into a more powerful data analysis and reporting unit that can provide critical insight on the following areas: Sales Process Optimization. Analysis of territory allocation and account assignment plan. Performance Metrics Analyses. Formulation of Incentives Program.
So is non-dues revenue. We tripled-checked the results of our analysis: 80 percent! Looking for ways to soften the blow, further analysis showed that over a three-plus-year period, customers were returning. That means more learners, learners have access to more learning, and revenue starts adding up. Revenue Potential.
When we realize eLearning is not bound by the same constraints as in-person events, new opportunities multiply our revenue potential. Conduct a market analysis to understand your competitor’s products and pricing, target market, market needs, and price range that market will bear for the value you’re offering. Tracy King, MA, CAE.
On Thursday (9/26), ASAE is hosting a webinar about a possible existential threat to associations: legislators who want to apply the 21% corporate tax rate to the non-donation net revenue of tax-exempt organizations, like associations. Non-dues revenue. AI for associations. Need to sharpen your knowledge about AI? 1 CAE credit.
Industry analysis for members. Per MGI’s membership benchmarking survey, members rely on their associations for in-depth industry analysis. Hear about the potential benefits and challenges of such a transformation, from increased reach and engagement to new revenue streams, while learning how to navigate potential obstacles.
Some platforms even offer integrations with third-party data analysis and business intelligence tools to help you connect engagement to results like satisfaction, retention and revenue. If company executives are asking for more analysis—such as how your community is impacting revenue—it might be time to add an analyst to your team.
James Young at Product Community shares ten revenue-generating product ideas. Learn how one association used personalized communications to gather data that boosted member retention, non-dues revenue, and year-round member engagement. Product ideas. He doesn’t think of them as visionary, but some of them are new to me. 1 CAE credit.
Are you using it to increase revenue and lower costs per renewal? While wrangling all of this data into one place for analysis can be quite the challenge, it’s worth figuring out how to do it. At the same time, your analysis might show that members who attend your annual conference have a high renewal rate.
He writes,If each department focuses on being profitable, it could skew the overall strategy and understanding of the customer journey.When we understand our associations unique opportunities for profit, we know where we can afford to lose money or not have high profit, and where we should have high revenue.
The end results are more efficient fundraising, more revenue, and more time for what matters. Artificial intelligence works through machine learning, which involves the discovery and analysis of deep patterns in datasets. These algorithms are continually refined over time as more data is generated for analysis.
Boost Membership & Non-dues Revenue in a Virtual World with Open Communities. Find out how opening your online community to the outside world can bolster member engagement, increase non-dues revenue, drive prospecting, reinvent content strategy and elevate your hybrid events in this newfound virtual era. Tue 7/28 at 3 p.m.
Our analysis of Scott’s 2020 grants is available here.) . Organizations that received a grant from Scott varied in size, but the majority have annual revenues in the $1 million to $5 million range. An analysis of organizations and projects funded against Candid’s Philanthropy Classification System validates her statement. .
It brings in more revenue without any extra expenses. A 5% increase today will result in a significant 60% rise in revenue over a decade. A 5% increase today will result in a significant 60% rise in revenue over a decade. Ensuring that your revenue from dues surpasses the cost of serving your members is essential.
Do all those forum posts translate to more revenue? You show your executive team a regression analysis. What is a Regression Analysis? A regression analysis is a statistical model illustrating the relationship between two variables. At its core, a regression analysis is a relationship tool. Talk about a challenge.
Hear about the funding-first approach to budget building and how prioritizing budgeting for revenue and support on the front-end of the budget building process helps with funding assessments and aligning and scaling programs, activities, and operations to available funding. 1 CAE credit. . 1 CAE credit. More info/register.
Since an AMS is at its essence a database, find out what kind of reporting and analysis you can do with the AMS alone, and what you’ll have to rely on other software to do. This option expands your data analysis capabilities and increases your team’s access to reports and dashboards. The Difference Between a Data Warehouse and An AMS.
Some nonprofits rely on government grants as their primary source of revenue Government grants are a primary revenue source for many nonprofits. Over 35,000 nonprofitsabout a third of government granteesrely on these grants for more than 50% of their total revenue. The post How reliant are nonprofits on government grants?
The weekly list of free educational events and resources for the association community… Chapter non-dues revenue. Association Laboratory invites association executives to take ten minutes to participate in Looking Forward Solutions , an annual trend analysis of strategies across association domains (membership, meetings, advocacy, etc.)
WBT Systems shares the story of the Texas Restaurant Association (TRA) whose compliance training programs delivered a 465% increase in revenue in the last six months of 2021. Non-dues revenue. – Business Analysis Skills for Data Analytics (Data Analytics Network). Tue 3/1 at 12 p.m. 1 CAE credit. More info/register.
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