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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? Boosting cash flow.
Are you looking for strategies to drive revenue to your association? Rather than reducing product costs and increasing sales, you could reconsider your organization’s pricing 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.
This eBook contains clear, actionable ways to approach packaging and pricing models that will help your association grow revenue, improve profitability, and drive expansion into new markets. Our research has shown a clear correlation between high program maturity (and ROI!) and choosing the right monetization strategy.
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.
Pricing your association’s learning courses can be tricky, but important, business. With the new year quickly approaching, here’s a look at some strategic pricing practices you should be thinking about. Continuing education is a valuable member benefit and a great source of non-dues revenue for your association.
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.
This eBook contains clear, actionable ways to approach packaging and pricing models that will help your association grow revenue, improve profitability, and drive expansion into new markets. Our research has shown a clear correlation between high program maturity (and ROI!) and choosing the right monetization strategy.
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.
Certification pricing. If members complain or inquire about the price of your credentialing programs, follow the lead of the Higher Education Consortium for Student Affairs Certification. They explained the reasoning behind their pricing in a post titled, Is Certification a Money Grab ? Small-staff technology. 1 CAE credit.
Is pricing too low? Is your program effective at increasing non-dues revenue ? Click rates, referrals, and revenue generated by past sponsors can be compelling for those who are on the fence about working with you. Set Prices Carefully. Set your prices deliberately, based on the perceived value of each package.
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.
There is an art and science to pricing. I prefer steady, incremental increases–as does pricing expert Dr. Michael Tatonetti, author of the new book, Pricing for Associations. Does your association have a pricing strategy? How do I know? Overpricing chases away potential members and lowers retention.
How should I price my event? What you ultimately want is to be able to monetize the event,” said Michael Tatonetti , director of certification and education for the Professional Pricing Society. With that being said, pricing should follow the same concept. . “A The short answer: that’s up to you. . Part 1: Operating budget.
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.
, 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.
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.
Everyone knows that show: The Price is Right. Prices matter but … Continue reading "The Price Is Right". Contestants try to guess how much something really costs, and whoever gets the closest wins fabulous prizes. That’s the whole game. We’ve been watching the same thing for fifty years now. Why is that?
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.
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.
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. This is not just PR or clever marketing.
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.
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?
Recovery in earned revenue and individual giving lag behind inflation When nonprofit arts organizations reopened their doors after the pandemic, they faced a new hurdle: high inflation. Since 2021, rapidly rising prices have affected arts organizations and the people who support them. months’ worth of expenses, far greater than the 3.9
Ask your questions regarding strategies, best practices, and tactics across the full event marketing funnel (from leads to revenue) and expand your role beyond execution to designing experiences that deliver on business objectives by understanding how event marketing works. Sponsorship and Pricing Methods for Virtual Events.
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
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.
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? Think strategically about membership pricing. Want more revenue tips? Download The Ultimate Guide to Generating Non-dues Revenue today.
It remains to be seen if hotels will adjust pricing to market conditions and be more flexible with partial performance and resulting liabilities. The two major variables that impacted 2020 revenue were the dates of your event and whether you have an expo with a conference or a conference with an expo.
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.” . <<<
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. Tue 6/29 at 2 p.m.
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. PAR presenters will reflect on their year and share ideas for revenue performance in 2024 and beyond.
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.
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!
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.
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. Coupons and discount codes.
Price is great, and customer service easy to work with. By combining robust AMS features with a vibrant community hub, GrowthZone empowers associations to increase membership, boost revenue, and deepen member engagement. Source: Capterra ] “It’s a great out-of-the-box solution that does almost everything we need our AMS to do!
Virtual conference pricing. From the rise of the hybrid event model, rapidly emerging technologies, increased online communities, wider global reach and new revenue streams, one thing is certain, the future will open up more opportunities for events than ever before. Maximizing Revenue through Smart Pricing Strategies.
Instead of just making the reservation, you might pay for transportation from your office to the event and cover the price of everyones drinks. For instance, lets say youre organizing a team dinner for your employees where youll announce the winner of your Employee of the Month program.
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. .
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