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When was the last time your association evaluated its pricing strategy? Without routine pricing reviews, your association could be leaving profit, and member satisfaction, on the table. If your associations pricing stays stagnant, you risk losing relevance and revenue. Why are regular pricing reviews essential?
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?
Are you looking for strategies to drive revenue to your association? Rather than reducing product costs and increasing sales, you could reconsider your organization’spricing strategy. Choosing the right pricing strategy for your association’s services and products can offer powerful results. What are our costs?
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.
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.
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.
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.
Is pricing too low? Is your program effective at increasing non-dues revenue ? Most organizations decide to sponsor associations to further business goals, like increasing brand awareness or boosting sales. Organizations that sponsor your e-newsletter, for instance, may reach 5,000 people every week. Set Prices Carefully.
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.
As the world adjusts to the “new normal” brought about by COVID-19, organizations everywhere are coming to terms with shifting to virtual distribution of content rather than at in-person events. With organizations preparing to follow through with these shifts, one question seems to be at the forefront of everyone’s minds.
Over the past five years, nonprofit arts organizations have maneuvered through pandemic shutdowns, evolving audience behaviors, and the relentless pressure of inflation. We analyzed data provided by 743 organizations via SMU DataArts’ Cultural Data Profile from 2019 to 2023, revealing the complexities beneath the surface.
What dues rates will maximize both revenue and participation? This question actually came in from a client, and here’s what I told them: The perils of pricing too high are obvious – no one will buy, because you’re too expensive. The most complicated answer is to do a full-on pricing study.
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.
Virtual conference pricing. The changes made by the American Society for Nutrition to their pricing model are worth noting. Join fellow association colleagues and Mariama Boney, LMSW, CAE as we explore options around introducing a race equity framework to your organization. Quick hits. More info/register. Mon 6/28 at 1 p.m.
How do you price your virtual events? There is a wide variance in how virtual events are priced. If pricing is based on attendance, be sure that pricing is in broad bands of users, so that you do not unnecessarily get saddled with high overage fees. How long has your team been producing virtual events? References?
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.
This series of 15-minute videos cover hot topics and issues related to 501c organization management. A virtual experience engineered for visual learners, meaningful online conversations, and product introductions that makes sense for associations looking for new and innovative ideas to generate non-dues revenue. Mon 8/3 at 1 p.m.
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 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
Non-dues revenue. The State Bar of Texas partnered with Lead Marvels to provide an online resource library for members that generated $160,000 in revenue for the association this past year—plus lots of leads for their sponsors. He shares five resources for getting up to speed and staying informed about AI. Hot association topics.
Virtual conference pricing. Fri 11/20 at 10 a.m.* – Member ROI Simplified: Safeguarding Your Organization’s Future. The most important method for safeguarding your organization’s future is to research, embrace, and maximize your Member ROI. Maximizing Revenue through Smart Pricing Strategies.
Teri Carden is cooking up a phenomenal-sounding digital experience for anyone interested in increasing their non-dues revenue. Fri 2/5 at 10 a.m.* – Member ROI Simplified: Safeguarding Your Organization’s Future. This series of 15- to 20-minute videos cover hot topics and issues related to 501c organization management.
They’re looking for a 501(c)(3) organization whose powerful mission could impact more people more deeply if it had marketing and branding help. Carolyn Shomali of Professionals for Association Revenue explains what associations can learn about audience engagement from the most popular podcasts today. Seems like a good place to start.
One of our early — and still applicable — recommendations was for conference organizers to communicate and publish the date when they expect to make the decision for their in-person conference. Over the summer and the fall of 2020, most organizations were able to make decisions six months out without incurring liability.
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? Letting members know how your organization is helping to raise awareness of their profession/industry . Think strategically about membership pricing.
Price is great, and customer service easy to work with. Source: Capterra ] “GrowthZone allows us to update multiple databases with one change, which has been a significant time saver for our organization. [Source: Capterra ] “It’s a great out-of-the-box solution that does almost everything we need our AMS to do!
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. For many, it is quite substantial. Host and sell live and on-demand virtual events.
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.” .* – Contract Strategies for the Evolving Marketplace; Winning Contract Strategies – Tips for Success. 1 CMP credit.
Billhighway explains how virtual events can help sponsors and exhibitors achieve their marketing goals —while helping chapters achieve their revenue goals. This series of 15-minute videos cover hot topics and issues related to 501c organization management. It’s what we do: we build organizations and projects that create value.
Many members are struggling financially because they’ve been laid off, had their budget cut, or suffered revenue losses. EDT – Member ROI Simplified: Safeguarding Your Organization’s Future. The most important method for safeguarding your organization’s future is to research, embrace, and maximize your Member ROI.
Tagoras is running a brief survey to determine how organizations offering professional development will focus their time and resources in 2021. It includes questions about the impact of the pandemic on strategy, pricing, etc. Raising sponsorship prices. Fri 12/4 at 10 a.m.* – Generating Revenue in a COVID World.
If you manage non-dues revenue programs, you’ve got to understand Unrelated Business Income Tax (UBIT) —or your association will eventually pay the price (taxes plus penalties and interest). Equip your organization with the knowledge and tools to navigate the evolving cybersecurity landscape. More info/register. 1 CAE 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.” . <<<
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. Objection 1: Price.
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. Educational events.
I attend a lot of webinars and conferences about non-dues revenue, including Non Dues-A-Palooza. I realized recently that hardly anyone is talking about AMS (association management system) as a revenue generator ; this makes no sense to me! So why isn’t your AMS part of YOUR association’s non-dues revenue strategy? Hard to know.
Dr. Michael Tatonetti of Pricing for Associations suggests guidelines and questions for focus groups that will help you determine the real value of your association’s product. Find out why web accessibility needs to be a priority for your organization, the different levels of compliance—and what “WCAG AA 2.1”
Data about organizations serving adult lifelong learners is hard to find. TopClass LMS shares lots of tips on increasing the value (and price) of your webinars. Does my organization need one? Organizer: Cecilia Sepp, founder, Rogue Tulips Consulting Fri 11/17 at 4 p.m. – Association webinars. Mentoring programs.
. – AI Advice for Associations (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! Hear how the speaker’s team developed a price elasticity forecast.
Meetings Today talked to event planners about revenue diversification, in-person vs. virtual attendee engagement, and managing your mindset. 5 virtual conference pricing strategies. This series of 15-minute videos cover hot topics and issues related to 501c organization management. Organizer: Partnership Professionals Network.
Geared for conference organizers and event planners, this collaborative workshop gives conference professionals practical tips and experience, especially when moving an event online. Organizer: Better Meetings. Lori Ely, Chief Revenue Officer, Results Direct | RD Mobile. Presenters: Beth Arritt, Staff VP Marketing, AAAE.
When pricing your association’s training offerings, it is important to assess their value, and then price accordingly. Assuming the former, it’s important that you revise and re-set course pricing on a regular basis particularly at the start of a new venture into online learning.
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