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When was the last time your association considered its pricing strategy? Without a comprehensive approach to pricing, your organization might run the risk of leaving money on the table or alienating long-term members with drastic changes and sticker shock. Why should associations use pricing discounts? Boosting cash flow.
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.
Introduction Is your association looking for new non-dues revenue ideas? With a learning management system (LMS) your association can prioritize non-dues revenue while boosting learner engagement and streamlining staff processes. Here are eight non-dues revenue ideas for your LMS: 1. There’s the rub: great content.
Rethinking Event-Based Pricing. One of the most common mistakes I see in pricing eLearning is exclusively applying the old one-time registration model. When we realize eLearning is not bound by the same constraints as in-person events, new opportunities multiply our revenue potential. Embrace Continuous Learning. Try These On.
Are you creating new eLearning courses to provide value to members and bring in revenue for your association’s learning business? If so, you’ve probably encountered the challenge of how to price those courses. Pricing them too high may deter members from investing. 5 eLearning Pricing Models for Your Courses.
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! Extend your Reach to a Wider Audience.
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.
, 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. DropBox’s pricing is a good example.
O pport unity for new and increased digital revenue streams still lies ahead even if your face-to-face meeting is cancelled or is smaller in attendance. . By charging people to access the library of content, you’ll also be increasing your revenue steam. How Do I Price It? . Virtual Events . Online Learning .
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.
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.
In my experience, most large conferences this year are realizing about 80 percent of their 2019 revenue performance. For some of the major annual meetings we’re tracking, sponsorship revenue has been a bright spot when compared to exhibit revenue performance. Pricing methodologies for sponsorship vary greatly.
These might fall into the following categories: Generate leads and sales Increase brand awareness Strengthen customer relationships and loyalty Give back to the community Network with other local organizations Recruit new employees Boost employee satisfaction For example, lets say your small business is a gym.
Events play a key role in engaging your members, generating revenue, and achieving organizational goals. Start by identifying the specific goals you want to achieve, such as increasing member engagement, driving more revenue from events , or helping members earn CE credits. How does your pricing work? Get the Guide 1.
Although written for event platform Hopin users, many of these virtual event tips apply to any platform, for example, developing an attendee video guide and holding screen. Sponsorship and Pricing Methods for Virtual Events. Presenter: Dr. Michael Tatonetti, Certified Pricing Professional and CAE. Virtual event tips.
Here are five examples of priorities you might find in your association’s strategic plan, along with key points for how community helps. Your organization needs to bring in new members to meet revenue goals, and often, this includes increasing the young member base. Growing Non-Dues Revenue. Objection 1: Price.
Virtual conference pricing. The changes made by the American Society for Nutrition to their pricing model are worth noting. – Revenue Success from Scratch: One Association’s Story. Host: Professionals for Association Revenue. Quick hits. Four questions to help vet your content ideas. 1 CAE credit.
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? For example: . Think strategically about membership pricing. Want more revenue tips? Review your website copy. Is it all about your members?
The weekly list of free educational events and resources for the association community… Virtual conference pricing. WBT Systems describes the different factors you need to consider when pricing a virtual conference , and right at the top they say, “Your virtual conference should not be free.”. Virtual conference FOMO.
Are you looking for new ideas to increase association revenue? Your association can increase revenue by boosting its efforts in volunteer recruitment and engagement. Read on to learn how to mobilize your event volunteers and help your association increase events revenue to reach its financial goals. . Well, search no further.
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.
Teri Carden is cooking up a phenomenal-sounding digital experience for anyone interested in increasing their non-dues revenue. Meeting planners can now have translations into many languages for less than the price of hiring even a single human interpreter. New Idea$: Not Your Grandma’s Non-Dues Revenue. 1 CMP credit. .
So is non-dues revenue. In the summer of 2016, our team conducted a pricing sensitivity study, ostensibly to figure out whether we really did charge “too much,” as feared. <<< Aside >>> The goal of the pricing study was to explore a pervasive and internalized sense that our courses “cost too much.” . <<<
Learning businesses rely on the revenue that comes from introducing new offerings and growing the adoption of existing offerings. That means they have to know how to determine the best pricing for attracting and converting prospective customers while maintaining—or, better yet, maximizing—revenue levels. Please subscribe!
Meetings Today talked to event planners about revenue diversification, in-person vs. virtual attendee engagement, and managing your mindset. Virtual event sponsorship example. 5 virtual conference pricing strategies. An optimistic virtual future. I agree, it’s time to completely rethink how you approach sponsorship. CAE credit.
Building an association website with valuable content and an attractive web design can help you: Retain current members Attract new members Raise the value of your sponsor packages Boost event registrations Drive non dues revenue Gather key data about member behavior Curious about what makes an association website shine? Member directory.
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. However, lowering your dues rate might be a mistake. Provide new member specials.
Most of us know that membership software is designed to make association processes easier and more automated, but did you know that your AMS could earn your association essential non-dues revenue? Let’s take a look at some of the options for turning your existing database and website into a finely-tuned engine for driving revenue.
By taking the time to choose your eLearning pricing strategy carefully, you can increase your chances for success in getting more members to purchase your eLearning materials. While there are numerous pricing models used in the world of eLearning and online courses today, two of the most common are subscription and one-time-fee models.
When digital entrepreneurs—those who make their living selling online products and services—see a need in their market, they design a revenue-generating online course to meet that need. For example, your MVP could be a three-week mini-course instead of the usual ten-week course. Segment by price sensitivity too.
They warn, “We are already paying the price in greater risk aversion among writers, artists, and journalists who fear for their livelihoods if they depart from the consensus, or even lack sufficient zeal in agreement.” Revenue and Pricing Strategies for Virtual Events. Tue 7/14 at 12 p.m. More info/register. 1 CMP credit.
This leads to higher attendance and renewal rates, and ultimately an increase in non-dues revenue, which the association can re-invest in providing even better events and service to members. Display conference details and tiered pricing in LMS catalog. How do you Manage Learning at your Events?
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.
They explain how to develop a content strategy, know when it’s time for a redesign, decrease costs and increase revenue. Our panel will provide examples of microaggressions they have faced in the workplace. Hear how the speaker’s team developed a price elasticity forecast. Print magazines. Generation Z. More info/register.
They will be able to see membership numbers, revenue drivers, and other useful data points to help drive member engagement. Another thing to consider when you’re determining who should have licenses is that some software vendors offer bulk pricing for purchasing more licenses up front. Your member or non-member customers might be, too.
Without an advanced enterprise LMS, it’s significantly more challenging to do so, let alone save time, increase membership, collect non-dues revenue, and more. Choosing the right extended enterprise LMS can impact every aspect of your association, from the revenue you receive to the members you retain. Low non-dues revenue.
Price Elasticity Uncovered: Insights from Data How often are price increase/decrease decisions based on opinion and fear, hampering an association’s ability to extract maximum value from our products because we’re afraid of customer attrition? . Hear how the speaker’s team developed a price elasticity forecast.
Online community platforms helped many associations thrive despite the devastating impact the pandemic had on non-dues revenue streams. – Revenue Success from Scratch: One Association’s Story. . – Reawakening Online Communities for a Greater Digital Experience. 1 CAE credit. More info/register. Host: Blue Sky eLearn.
Don’t assume the membership tiers and pricing that always worked will continue to work for everyone. Become an inclusive association by having membership tiers that offer something valuable for everyone in your target audience at a price they can afford. Dues determined by the member’s organization revenue.
Here’s what you should do and shouldn’t do when pricing your association’s products, services, and events. The Price Is Right isn’t just a long-running TV show. Price too high, and you risk losing participants or consumers; price too low, and you risk missing out on additional nondues revenue. Want to Hear More?
– Price Elasticity Uncovered: Insights from Data How often are price increase/decrease decisions based on opinion and fear, hampering an association’s ability to extract maximum value from our products because we’re afraid of customer attrition? . More info/register. with Zapier. 1 CAE credit. . – 1 CAE credit.
Are you looking for strategies to increase non-dues revenue? Leveraging your learning management system (LMS) to generate non-dues revenue is the perfect way to prioritize your goals throughout the year. Read our blog for 13 tips to utilize your LMS and drive non-dues revenue. You’re not alone!
Dale Carnegie Non-dues revenue. Seriously consider attending if non-dues revenue is a concern for your association. Membership pricing. Your association’s recruitment and retention success depend on your membership model pricing. Non-dues revenue partners. Introverts. Member engagement. CAE credit.
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.
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