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Let’s take a look at a few ways you can shift challenges into opportunities, keep your association top of mind, and maintain your revenue stream in 2023. Look Beyond Top Line Revenue Most people define success by revenue generated, but in today’s economy, we need to go beyond the numbers. Read more about their story.
Impexium explains how to increase your association’s sponsorship revenue with a new relationship-based and expertise-focused approach to corporate partners. She shares three questions to help you declutter your media and other non-dues revenue products before adding anything new. Membership value. Association media. Host: rasa.io
How Cross-Team Collaboration Can Unlock Untapped Revenue Breaking down silos between departments can unlock hidden revenue potential, drive engagement, and future-proof your associations financial health. Learn how to foster cross-departmental collaboration to create new revenue opportunities. More info/register. CAE credit.
Regular pricing reviews will keep your association ahead of competitors, alert you to missing revenue opportunities, and ensure you dont lose relevance with your members. If your associations pricing stays stagnant, you risk losing relevance and revenue. Why are regular pricing reviews essential? Here are four key factors: 1.
Did you know that 80 percent of your future revenue will come from only 20 percent of your current customers ? For example, a customer may ask a question about a product in your community discussion forums or visit product documentation in your file library. That’s not a static task.
Eighty percent of your future revenue will come from 20 percent of your existing customers , according to Gartner. Unfortunately, getting customers to buy more has always been a challenge – that’spart of why only 20 percent of customers will make up the majority of your future revenue.
” — Include a guide to finding important files, resources, and anything else that’s documented here in the binder. Some important reports that come to the top of my head include: Revenue reports. Other Documentation. Revenue Share Agreements. Your program’s SMAR goals or KPIs.
By combining robust AMS features with a vibrant community hub, GrowthZone empowers associations to increase membership, boost revenue, and deepen member engagement. About GrowthZone: GrowthZone is more than association management software; it’s a powerful platform that helps over 4,600 organizations thrive. All rights reserved.
They seed the community with product documentation, expert articles, and ask loyal customers to join. Persuasive Content – Fill your prospect sections with answers to frequently asked questions, documentation on best practices and product benefits to educate prospects on your solutions. Increase Upsell, Cross-Sell, and Add-On Revenue.
Jimmy Daly at Superpath explains why you need a documented content marketing strategy , how to assess whether your strategy is working, and what solutions to put in place if it’s not. Host: UST Education Speaker: Ryan Graham, Chief Revenue Officer, PropFuel Wed 10/9 at 1 p.m. – Content strategy. Call-to-action (CTA). 1 CAE credit.
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.
Doing so created a new source of nondues revenue for the association. In so doing, the organization also developed a rich stream of nondues revenue, according to VP of Learning Amanda Beckner. The post Create a Revenue-Generating Licensing Strategy appeared first on Associations Now. Tell us about it in the comments below.
However, whether increasing non-dues revenue or new member recruitment, it’s just as important that your organization follows through with these goals. Non-dues revenue capabilities: Offset the cost of purchasing your AMS by choosing one that allows you to collect non-dues revenue through it.
Here’s where it starts to look ugly: 70% of these associations don’t have a formal, documented e-learning strategy. If you have an e-learning strategy , you’re more likely to see a net increase in revenue from e-learning programs. Is this process standardized, documented, and shared with those who need to know?
If a document like this doesn’t exist, hold some informational interviews with your executive director and the head of the board to figure out what the association's main goals are for the upcoming year. Your organization needs to bring in new members to meet revenue goals, and often, this includes increasing the young member base.
Professionals for Association Revenue talked to Michelle Brien of Matchbox about the difference between virtual events and digital initiatives. Host: Professionals for Association Revenue Speaker: Susan Borke, Principal, BorkeWorks Wed 2/28 at 11 a.m. These documents have varying legal requirements and best practices for retention.
How Your Association Can Drive Revenue & Growth with AI-Based Personalization. Organizations are not only seeing deeper engagement, but also increased sales and more diverse revenue streams. Responsible Revenue: How to Host a Profitable and Safe Hybrid Event. Sponsorship Revenue and Results. More info/register.
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. 1 CAE credit. More info/register.
They also describe how credentialing programs can help your association increase member engagement and revenue. s (MGI) annual membership benchmarking report, so I’ve put this new book by Tony Rossell, MGI’s senior vice president, on my list: How to Grow Recurring Revenue, Reach New Markets, and Achieve Your Mission. Quick hits.
The SEO community is buzzing about the internal Google documents leaked to the founder of an SEO software company. The report spotted a lack of intention in solving these issues: most associations admit to not having documented plans for member engagement, young professional recruitment and lapsed member reengagement. Google rankings.
Document member stories and the impact your community is having on groups or individuals. Show how your online community helped convince them to stay, keeping your business from losing revenue. Then, be flexible enough to move around. Collect Stories. Here are a few types of stories to collect.
Visual Storytelling Trends You Can’t Afford to Miss: How to Achieve Revenue-Based Outcomes By Telling Engaging, Visual Stories. How to Increase Your Corporate Sponsorship Revenue. Maximize Your Data: Non-Dues Revenue on (Legal) Steroids. Host: Community by Association. Tue 2/16 at 2 p.m. Thu 2/18 at 12 p.m. – More info/register.
Your team likely plans and launches multiple fundraisers throughout each year to bring in enough revenue to fund the various initiatives associated with furthering your mission. Let’s break down the two sides of an operating budget—revenue and expenses—in more detail. Let’s get started!
Learn the key rules that should guide your mobile solution search; how to find solutions that are as flexible as you need them to be; how to identify mobile solutions that allow you to maximize revenue, engagement, or any other goal; and the common mistakes event managers make when searching for mobile solutions. Wed 7/26 at 8:30 a.m. –
22% have no documented strategy. Revenue growth. Hiring outlook: 20% of programs put hiring on hold. 10% of programs reporting lay-offs or expected lay-offs. 14% of community programs are still hiring or expecting to hire. Online Community Strategy. There is a range of strategic maturity across communities. 24% have a draft strategy.
From successfully converting non-member audiences into members, to your membership engagement strategy, to events and non-dues revenue, data can inform every step along the way. Leveraging your data throughout the entire member journey can impact your association and your members. Pillar: Innovation What to track?
Find out how much staff time (in dollars) is spent on marketing and managing the program compared to revenue generated. Revenue vs. expenses (including staff time). If you sunset a program, you will lose that source of revenue along with any expenses. Document the sunset process. How will that affect your organization?
Achieving a stable membership will increase your association’s revenue growth and make it easier to recruit new members. Approach retention scientifically: Identify your association’s measures of success, develop and test the strategy, document its effect, and learn from the experience.
The simplest way to think about LTV is to add average dues plus average non-dues revenue and multiply that by average membership tenure (which MGI also helpfully explains how to calculate). That’s where things get tricky. Marketing General has some helpful base formulas you can use as a starting point. Image found here.
A complete sales enablement program may include training, tools like sales automation software, and content such as messaging and product documentation that sales can pass on to prospects. That’s a huge opportunity for your sales team to increase revenue. Anything your company does that helps sales do its job is sales enablement.
Keep the Seal of Approval concept in mind when examining your association’s offerings and unique value propositions, says Dr. Michael Tatonetti in a post by Carolyn Shomali at Professionals for Association Revenue. However, Non-Dues programs have the highest potential for overall revenue production. 1 CAE credit. CAE credit.
These documents not only help your team make informed financial decisions internally, but they also demonstrate to external stakeholders that you are using their funds responsibly, allowing you to gain their trust. One of the best ways to maintain transparency is to share your nonprofits financial statements. Statement of Cash Flows.
Not that all that stuff isn’t great, of course, but I think maybe the most helpful thing I do for clients is get them to sit down for an hour or two after we finish whatever the main focus of the engagement was, discuss what we learned, talk about what we’d do differently the next time, and document the whole thing.
Videos, MP3 files, written documents, and recorded webinars are just a few of the options flexible LMS systems offer. Advanced and in-depth courses may require an extra payment from members, which generates non-dues revenue for your association. With the right LMS software, you can create courses for each of these learning types.
72% of organizations dont offer online sponsorships for virtual events, costing non-dues revenue and valuable partner opportunities. Begin by starting a document and detailing your organizations description and continuing education program. If so, youre not alone! Dont let your continuing education program get left behind!
Jane Longhurst, chief executive of the mia, said: “While the highly-documented rise in COVID-19 cases left many expecting the worst over the festive period, the industry is now faced with the fact that business will be stalled well beyond Q3 2021. “We
Just think about your community’s vibrancy when compared to retention and revenue. They care about how your community has influenced revenue , retention, and product innovation. Research from Gallup shows that engagement naturally leads to improved business results such as higher revenue and relationship growth.
Mobile apps are reducing waste and increasing revenue. Programmatic advertising, for example, is an innovative non-dues revenue opportunity for associations, which leapfrogs the traditional means of advertising and buyer’s guides. The focus was on speed, and knowing the leverage points that will accelerate your ability to grow.
The weekly list of free educational events and resources for the association community… Chapter non-dues revenue. They also explain how to develop a content strategy, identify the best time for a redesign, decrease costs, and increase revenue. 7-day communications challenge. 1 CAE credit. Host: Community Brands Tue 9/10 at 1 p.m.
Unlocking the Member Voice: An All New Member Benefit and Revenue Generator. You can help your members make smarter buying decisions, give them a place to voice opinions on products and services they use at work all while creating a new unexpected source of non-dues revenue for your organization. Thu 1/24 at 1 p.m. More info/register.
Document how the existing AMS holds your association back and prevents it from leveraging opportunities. Document their frustrations and complaints: what they wish they could do with data, how the database makes it difficult for them to achieve goals, and what better things they could do with the time they waste messing with the database.
Document what you learn. Document any missed opportunities because of your system’s limited functionality. The brighter future you promise is full of new market opportunities—and new revenue—but don’t assume decision-makers know that. And, you’ll solve a huge challenge while positioning your association for the future.
And part of your process better be a formal review of expected revenues. Not every initiative your association takes on needs to make money, but you can only have so many “loss leaders,” and your choices about them must be conscious and informed.
Revenue , which consists of any funding your organization receives through its various income sources. Once you’ve determined how you’ll categorize financial data, it’s time to set up the document! Liabilities , which include everything your nonprofit owes. Net assets , or the total amount your nonprofit is worth.
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