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As you rethink your pricing strategy, youll want to evaluate using pricing discounts as a helpful tool in attracting new members to your association, increasing overall traffic, building member loyalty, and selling large quantities of products. Read our blog for more pricing discount best practices your association should adopt today.
Similarly, analyzing your event data from many angles can lead to a major impact on revenue. We send a discount code vs. promoting what’s new at the next event. For those most likely to attend, you know you can skip the discount code and the expensive marketing pieces. Year over year, is it increasing or decreasing?
Is your association generating as much non-dues revenue as it needs to, wants to, or has the potential to? One great way to do this is to look to your online education and certification programs – with your Association Learning Management System, generating non-dues revenue is easy!
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. Non-Dues Revenue Potential of Digital Badges for Associations. Value of Digital Badges for Association Members.
Below are a few ways to spread some holiday cheer while also boosting end-of-year eLearning revenue. Offer your learners holiday discounts in the form of coupons and product bundles. Here are some tips for success: Discounts tend to be most effective when offering at least 30% off. A Festive Welcome.
These may have not been a big revenue generator for you, but they provided a much needed connection for your members and delivered value to them. Like others, revenue is most likely top of mind for your association. We are going to share three ways to generate new revenue using your data. No two members are alike. Get Started!
Associations are always looking for new and creative ways to drive additional non-dues revenue. At a recent Association SIG Summit, Blue Sky Client Success Manager, Kara Adams, joined a group of association executives as they crowdsourced ideas to drive non-dues revenue. Anything you think we are missing? Comment below! Sponsorships.
, this metric is actually an effective growth strategy to help you counteract churn and increase overall revenue. Defining Net Negative Churn (+ How It Relates to Revenue). Net negative churn means that over a given period of time, you lost customers but still grew your overall revenue. Cross-selling. You decline. Next steps?
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.
Below are a few ways to spread some holiday cheer while also boosting end-of-year eLearning revenue. Offer your learners holiday discounts in the form of coupons and product bundles. Here are some tips for success: Discounts tend to be most effective when offering at least 30% off. A Festive Welcome.
It’s important to have revenue-generating tools and approaches in place to keep your association strong. . Here are some approaches you might not have thought of to increase revenue for your association. Over time, your association’s revenue needs change. But it can be a highly effective tool for increasing revenue.
For most associations, membership dues represent the single largest source of revenue. So, what can your association do to retain, and even grow, membership dues revenue? It can be tempting to offer membership discounts to drive more new memberships and improve member retention. But proceed cautiously with discounts.
While a discount might sound like a good way to get more members to renew, consider your options before moving forward. Choosing to offer a discount during a membership renewal campaign can convince more members to stay, but it’s important to do some thoughtful planning before you make that decision. “If
Are you looking for tried and true methods to maximize your association revenue? There are myriad options on how to increase profits, however, leveraging successful strategies at your organization guarantees increased revenue and delivers value to the member experience. . Try out these four proven revenue boosters ?at
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? A product that was a big revenue driver a year ago, may have lost its appeal.
Add Member Value, Don't Discount Dues In a classic supply vs. demand model, the answer to lower demand is to decrease prices. By going down this path, associations often end up sacrificing significant revenue with little to show for membership growth. Get new members in the door with special offers and discounts.
We had to validate registration member rates against current memberships to ensure members were receiving the appropriate discount or group rate. However, I wished they could have utilized me to help grow their revenue and monetize data for their industry. We spent hours manually creating attendee lists to import into various sources.
To generate excitement and attract new customers, you host a grand opening event with drinks, snacks, and a 10% discount on every purchase. Picture this: Your small business has been operating online only, but now youre ready to open a physical storefront.
” So a diverse revenue stream isn’t just a “nice to have” for associations, it’s often a matter of survival. Fortunately, there are some tried and true strategies toward increasing revenue. Group purchasing: This is a trickier one, but can be a great source of revenue if you spend some time on it.
This could mean email blasts and posts on social media to start creating buzz, as well as providing incentives and discounts for early visitors. Offer to work with any interested in local chapters on publishing some of their courses and offerings onto the national LMS and providing a revenue share. Start a Mentor Program.
Once you have put a dollar amount on the monetary value of your members, you will be set to give them better discounts, customized service, and valuable offers to keep them engaged. Total dues and non-dues revenue for historical data set. Step 3: Calculate Expected Lifetime Revenue.
Are you creating new eLearning courses to provide value to members and bring in revenue for your association’s learning business? But, pricing them too low will prevent your team from making any meaningful revenue. The one-time fee model provides your team will instant, however less predictable, revenue.
Those who did not pay for the live event can receive the recording at the same or discounted rate. We sometimes see clients offer a slight discount due to the fact that those watching the recording will not have the option to ask the speaker questions, participate in live polls, etc. Why would someone pay for your webinar?
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.
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 we realize eLearning is not bound by the same constraints as in-person events, new opportunities multiply our revenue potential. Quantify your market share and set realistic goals for expected revenue. Consider bundling a discounted eLearning course with conference registration. Embrace Continuous Learning. Try These On.
How vital is non-dues revenue for your association? In 1953, more than 95% of revenue for professional associations came from membership dues. Over the last few decades, the biggest driver of non-dues revenue has been technological advancements. Coupons and discount codes. For many, it is quite substantial.
In fact, offering such benefits may be the most effective method for increasing non-dues revenue. Second, it can drive non-dues revenue for your organization through commissions or revenue sharing with benefit providers. And obviously, the more benefits you provide, the greater the opportunity for engagement and revenue.”.
Last month, we asked our readers: What are your most valuable sources of non-dues revenue? It’s not surprising that this group was cited as the most valuable source of non-dues revenue by half of our poll’s participants. Government sources of non-dues revenue were deemed the most valuable by 17 percent of poll respondents.
So is non-dues revenue. You pitch the product, pull the customer into the funnel, process the payment, recognize all the revenue immediately, deliver the product, and that’s that. That means more learners, learners have access to more learning, and revenue starts adding up. Revenue Potential. I was wrong. We added it.
While it’s important to generate non-dues revenue , that doesn’t mean you have to charge for every single piece of content you’re putting out there. By offering content for purchase in bundles at a discounted rate, you’ll get more eyes on programs that weren’t getting attention when only sold alone. Let’s dive right in. Yes, I said it!
One of the most highly effective benefits is a member discount program. When you provide exclusive discounts, you also create an incentive that makes members feel rewarded, which, in turn, helps them find further value in maintaining their membership. Discount programs are one of the best retention tools.
Associations aren’t in the retail business, and a discount on a webinar recording doesn’t have quite the same sizzle as one for a big-screen TV. Now, though, the discounts are more eye-catching —30 percent off events and courses, which appeals more to current ISA members who already receive 20 percent discounts.
Expert Tip: The best learning management systems will also help you increase non-dues revenue by selling some of your online courses or certification materials. NAWR took this route when they partnered with FedEx for their shipping discount. You can set prices for courses individually, or base them on membership tier.
They strengthen your community, increase brand recognition, provide networking opportunities, establish thought leadership and generate revenue. Prizes should relate to the career resources your association offers: resume writing services, coaching services or even a discount on membership dues. Job listing promotions.
If your conference is like most, sponsorship revenue is underperforming. There are two benchmarks we like to use to identify healthy conference revenue business models: Industry revenue — 30 percent or more of a conference’s total revenue should come from the combination of sponsor, exhibit and advertising revenue.
Are you using it to increase revenue and lower costs per renewal? Armed with that information, you might run a test to offer first year members a discount at the annual conference, and then see if that segment’s retention rate improves. But are you truly leveraging that information? Retention rates aren’t one dimensional.
Here are some tips on ways to repurpose webinars for future engagement and revenue! If you’re selling these, you can also get creative with how you sell them – separately for one price, bundled for a discount, and so on. Share the on-demand version of your webinar. Share the on-demand version of your webinar. Share them below!
TechSoup Tour: How to Access Donations, Discounts, and Resources. Learn how your organization can make the most of the donation and discount programs for hardware, software, cloud applications, and services available to eligible organizations. Unlocking the Member Voice: An All New Member Benefit and Revenue Generator.
Generate Revenue through Digital Advertising. Help your chapters generate even more revenue through digital advertising on their website or online community. By allowing chapters to display multiple ads in one place, you increase their chances of generating revenue without blocking off too much valuable real estate on their websites.
This can be done by reducing a particular course fee, or you might consider offering a discount coupon that is emailed to potential attendees. For this and more great tips on how to generate revenue from your association training programs, download our free report, “ Getting More Bang for Your Buck!
Direct costs, indirect costs and your revenue expectations are major influencers when determining your budget. Are you having to halt any other projects or innovations that produce revenue to accommodate this shift? The addition of sponsorships also introduces the ability to offer certain ticket types for discounted costs.
Are you using it to increase revenue and lower costs per renewal? Armed with that information, you might run a test to offer first year members a discount at the annual conference, and then see if that segment’s retention rate improves. But are you truly leveraging that information? Retention rates aren’t one dimensional.
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