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Nondues revenue isnt new, but associations need for that revenue is. For years, associations have viewed nondues revenue as a bonus, but with revenue from memberships declining and the demand for engaging member experiences rising, nondues revenue is now less of a bonus and more of a necessity.
At its most basic level: Revenue per member – Expenses per member = Cost to serve a member Simple, right? "If If membership is $100 a year, and it costs us $60 a year to mail each member our journal, that's our cost to serve, and we bring in $40 a year in revenue per member. Staff costs!)
If youre embarking on an AMS project, start your research by reviewing 108 Ideaspaces list of issues to consider when selecting an association management system (AMS) , such as reporting, security, API, technology partners, access control, cost of ownership, vendor stability, and the ability to expand software capabilities as your needs change.
From housing costs to deregulation and tariffs, finance teams may need to adapt to evolving conditions. Economic Uncertainty Economic growth or slowdowns during an election year can significantly impact project demand, revenueprojections, and financial stability in construction, real estate, and community association management industries.
If youre embarking on an AMS project, start your research with 108 Ideaspaces list of issues to consider when selecting an association management system (AMS). Lead Marvels helps you make a case for a new revenue stream at your associationsponsored content. AMS selection. Again, are you offering and promoting this aspect of membership?
What dues rates will maximize both revenue and participation? A mid-level effort approach would be to do a membership dues modeling project. The post Membership Q&A: Maximizing Revenue AND Participation appeared first on Spark Consulting. That’s a good one! Photo by Pepi Stojanovski on Unsplash.
If youre embarking on an AMS project, start your research with a review of 108 Ideaspaces list of issues to consider when selecting an association management system (AMS). Think Like a Media Company: Unlocking Non-Dues Revenue for Sustainable Association Growth Hear about the imperative need for diversifying revenue streams.
If you’re an association professional who is responsible for business development, exhibitor sales, non-dues revenue programs, or any other revenue growth roles outside of membership sales, please complete this survey , which should take less than ten minutes of your time. AMS selection. Attendee value. Association finances.
That’s especially true for associations with declining dues revenue. Taking some time to brainstorm with members provides them a stimulating engagement opportunity and could generate ideas for contributing additional nondues revenue to your organization’s bottom line. Supplemental Education. Podcasting.
As associations take on the pressures of the economy and increasing member demands, it becomes vital to identify and implement non-dues revenue opportunities to help ensure financial health. Many associations already use a variety of programs to generate non-dues revenue, among the most common being: Annual Sponsorships.
Billhighway explains how virtual events can help sponsors and exhibitors achieve their marketing goals —while helping chapters achieve their revenue goals. This project you’re working on, the new business or offering, what sort of value does it create? It’s what we do: we build organizations and projects that create value.
Taking a strategic approach to driving non-dues revenue might seem challenging. Read on for proven techniques and technolog ies that will help you boost your non-dues revenue in no time. . Driving non-dues revenue is critically important to your association’s long-term success. Strategies for driving non-dues revenue.
Annual budget planning, projection and execution are the backbone to the long-term fiscal viability of any association. By answering the following questions regarding revenue, expenses and long-term planning you can be prepared today for future success: Where can we invest in major functional areas to return maximum ROI?
Non-dues revenue. If you’re a podcast listener, check out Association RevUP from Professionals for Association Revenue. 2nd Annual Data Analytics Network Data Science Fair (Arlington VA) We are recruiting data nerds to talk about their coolest project. Location: Washington DC. More info/register. to 6:30 p.m. 1 CAE credit. .
Meetings Today talked to event planners about revenue diversification, in-person vs. virtual attendee engagement, and managing your mindset. Dues revenue is the lifeblood of most associations and in a blink-of-an-eye the other major revenue centers (like meetings and events) vanished into thin air. The future for event planners.
They especially get in the way when you’re leading up a project, so thankfully WBT Systems suggests 11 catalysts for cross-departmental collaboration. Explore easy-to-implement, cost-effective ways to make a bigger impact with your events. – Strategic Revenue Growth: Thinking Beyond Members and Sponsors. Tue 12/3 at 2 p.m.
Matchbox Virtual Media asks for your participation in a survey that explores how the use of online experiences by associations for membership engagement, education, revenue growth, and other purposes has evolved in recent times. Host: Professionals for Association Revenue Wed 9/6 at 11 a.m. –Oprah Winfrey Online programs. 1 CAE credit.
One difference this year: “For the first time in the survey’s history, the challenge of generating non-dues revenue topped all other obstacles faced by associations.” That explains the interest in communities like Non-Dues-A-Palooza and Professionals for Association Revenue. More info/register. 1 CAE credit. . Location: Alexandria VA.
Competing against niche professional organizations, membership and conference revenue has “slowed to a trickle.” Expert Series: Be the Association Hero: Increasing 2024 Non-Dues Revenue Hear about key strategies that will help you drive more non-dues revenue and build a true career growth destination for your members in 2024 and beyond.
Taking in all the parts and pieces required to produce your event, and determining the cost, can give you a basis for your pricing. Direct costs, indirect costs and your revenue expectations are major influencers when determining your budget. Are your speakers volunteering their time or speaking at a cost? .
They explain how to develop a content strategy, know when it’s time for a redesign, decrease costs and increase revenue. GrowthZone’s guide to selecting a credit card processor is perfect for those of you who need to understand the players and their roles, terminology, fees, rates, hard and soft costs, and security issues.
Until after four months of trying (it can be a big project with a lot of hidden surprises) they realized that the replacement system had its own warts. The ecommerce sales ended up paying for the sunk cost, and the organization and their legacy AMS are now on a second honeymoon.
Associations who recognize their bottom lines will take a huge hit from lost revenue they anticipated from their annual conference are rethinking their positions on event cancellation insurance. Future event cancellation coverage will cost more based on what’s happening now.”. We’re in the middle of a forest fire right now.
Everyone knows getting buy-in for a new project can be frustrating. You’ll likely face questions and concerns even after you present your team with details on how an online community can improve acquisition, retention, and revenue. Being prepared for those concerns will help you address them and move your project forward.
and relying on a single revenue stream is too risky. This is where non-dues revenue comes into play. By generating non-dues revenue, you can: Grow your association’s revenue Avoid implementing higher membership dues Diversify your revenue streams. What is Non-Dues Revenue? But remember: no size fits all.
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. .
Too early, and you’re shouldering additional cost before it’s warranted. Too late, and you risk overwhelming your employees and dropping the ball on important projects, including delivering value and engaging your audience. Growth can be a predicament for any team in any organization. Your Logins Have Plateaued.
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. And often they can offer their services for little or no cost to you.
Carolyn Shomali of Professionals for Association Revenue explains what associations can learn about audience engagement from the most popular podcasts today. In a recent survey in fact, over 80% of associations said that they are making non-dues revenue a top priority. Seems like a good place to start. Lessons from the podcast world.
If your association has a website redesign project on the horizon, there’s no need to ask for RFP samples on ASAE Collaborate. You can get everything you need in Brightfind’s RFP template for CMS and website design projects. Host: Professionals for Association Revenue Wed 9/27 at 1 p.m. Website RFPs. More info/register.
Revenue and Pricing Strategies for Virtual Events. Learn how to maximize revenue for your digital event, craft compelling offers, price digital events, communicate value to attendees, and create compelling sponsorship packages. Rae Malcham, Senior Technical Project Manager, Hubb. Tue 7/14 at 12 p.m. 1 CMP credit. Host: Hubb.
There are a number of steps associations experiencing revenue shortfalls can take to reduce the damage. Whether it’s failing to meet membership goals or advertising projections, it’s not so much if an association will experience a revenue loss, but when an association will experience a revenue loss. Want to Learn More?
Project success stories. Sherry Budziak of.orgSource recaps accomplishments and lessons learned by the association execs and tech partners who shared their project stories at Solutions Day. That’s on us, says Jay Cost at The Dispatch. Go on a whirlwind tour of some of our recent projects. Member recruitment. 1 CAE credit.
Impexium describes three crucial principles that most associations and vendors overlook during an AMS implementation —things that will make your project much more difficult. Get a better understanding of when it’s time to build, refresh, or sunset programs to support revenue growth. AMS implementation. Credit card processors.
Billhighway talked with Peter Houstle of Mariner Management and Christi Beatty of the Associated General Contractors of America (AGC) who are working together on AGC’s chapter benchmarking project. Christi shared lessons learned so far, including five prerequisites for a chapter benchmarking project. Event budgets. Pietranton, Ph.D.,
Building Wagtown: A Passion Project (Radio Free 501c, the podcast of Rogue Tulips Consulting ) Every week Rogue Tulips brings the nonprofit community intriguing guests discussing vital topics affecting nonprofit organizations around the world—and we have fun doing it! Will costs finally come down? More info/register. Wed 1/24 at 2 p.m.
Staff interviews are a critical element in preparing a business case: you’ll gather information to support your argument and you’ll identify project allies. One of the first questions you’ll be asked by decision-makers is: “How much is this going to cost?” Show them that you’re ready to take on this project. Sponsorships.
In many cases, annual conventions and trade shows represent the most significant revenue-generating opportunities of the year for associations. These special events are of the utmost importance to any association that relies on this revenue stream. What is event cancellation insurance? Types of coverage. Event insurance rates.
We launched our latest project to be more efficient, increase sales, or improve retention. Cut Customer Service Costs (And Increase Satisfaction). This can cut costs and boost customer satisfaction. Increase Upsell, Cross-Sell, and Add-On Revenue. What drove your last business initiative? Boost New Customer Acquisition.
Their post describes four ways your association can leverage event and learning data to increase attendance, select content, improve programs and grow revenue. Dr. Michael Tatonetti, CAE, explains how to overcome your colleagues’ (or leadership’s) fear of raising sponsorship prices —an argument that gets into goals, costs and value.
Two-thirds of venues say they will recover to 2019 meeting revenue levels in 2022 or 2023, with Danish and Australian venues predicting the fastest recovery, according to IACC’s annual Meeting Room of the Future Barometer 2022 , which was released today. Collaboration with colleagues is also highly ranked.
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.
You can increase non-dues revenue with an online store, deliver benefits with user-generated content, and engage members with discussion forums and blog posts. Often, surface-level objections like “the software costs too much” aren’t your colleagues’ actual concerns. Event registration and other non-dues revenue streams.
Revenue growth driven by improved membership numbers, increased product sales and optimized marketing reach and effectiveness. This will help increase membership and revenue. Revenue – Seeing data in real-time enables you to maximize your marketing initiatives. Evaluate Your Opportunity Costs.
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