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We already know that not only does eLearning provide a valuable member service , leading to higher member retention rates, it can also generate an important additional source of non-dues revenue. Value of Digital Badges for Association Members. Non-Dues Revenue Potential of Digital Badges for Associations.
According to the most recent edition of ASAE’s Operating Ratio Report ( ORR ), membership dues account for an average of 38 percent of total revenue for all associations. No other single revenue category comes close to reaching that number. Keeping dues flat makes for a goodwill gesture to members who are tight on money.
While the way you align your proposed member community with your executives’ goals will vary by association, five of the most common priorities you might find in the strategic plan include new member acquisition, member engagement and retention, non-dues revenue growth, advocacy and legislation, and maintaining relevance.
Are you scrambling for revenue-replacing ideas, all while spinning five more plates at home? Of course, we are not alone. Have you had to ditch most of the work you did on upcoming in-person events to turn on a virtual conference immediately? Are you learning how to manage the sudden increase in traffic in your online community?
Metrics are softer, as is the revenue to fund member benefits. Associations with individual membership see the opportunity to reach more members with organizational membership. Some associations are considering the good, better, best membership levels that online platforms use. Members are not as involved as they once were.
As the authors of a 2019 Harvard Business Review article put it: In an age of ubiquitous disruption and unpredictable job evolution, it is hard to argue that the knowledge acquisition historically associated with a university degree is still relevant. And, of course, for many associations, this is already a booming area of business.).
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