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When was the last time your association evaluated its pricingstrategy? 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 pricingstrategy? 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 pricingstrategy. Choosing the right pricingstrategy for your association’s services and products can offer powerful results.
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.
Unlock More Profit and Smarter Packaging for Member Learning Every decision that goes into your learning monetization strategy matters for your association’s bottom line. and choosing the right monetization strategy. Our research has shown a clear correlation between high program maturity (and ROI!)
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.
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. Upselling + Upgrades.
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.
Numbers aren’t Strategy. But knowing what you want to sell from a dollar/revenue standpoint is not the same thing as developing the strategy behind it. To reach your revenue goals you must also have a strategy. . Sadly, some organizations confuse communicating revenue goals with organizational ones.
Every decision that goes into your learning monetization strategy matters for your organization’s bottom line. and choosing the right monetization strategy. It will: Debunk common learning monetization misconceptions Detail several monetizing strategies Help you rethink the true value of your learning program Download Now
OpenWater shares proven strategies for recruiting judges for an association awards program , even if members say theyre too busy. MGI offers strategies to increase renewals , based on 40 years of membership marketing experience and over a decade of surveying associations for their membership benchmark report. Recruiting awards judges.
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.
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 pricingstrategy? How do I know? Overpricing chases away potential members and lowers retention.
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.
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.
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. Potential sponsors are looking for year-round value at a multitude of price points.
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
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. Distribution.
– Event Marketing Strategies for Virtual and Hybrid Events. As virtual and hybrid events become the new normal, examine the best practices for event marketing and engagement strategies. Learn how virtual events can be part of a meaningful data-driven content strategy. Sponsorship and Pricing Methods for Virtual Events.
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. Michelle Brien, VP of Marketing and Product Strategy for TopClass LMS by WBT Systems. Host: Professionals for Association Revenue.
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.
Teri Carden is cooking up a phenomenal-sounding digital experience for anyone interested in increasing their non-dues revenue. Association strategies. They suggest seven strategies that will position your association to deliver value , and preserve and strengthen member and customer engagement and loyalty. Quick hits.
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. For this kind of strategy, you need a learning management system (LMS).
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.
This calculation enables you to make informed financial decisions, set appropriate prices for membership tiers, and justify each of its investments. Ultimately, your associations ROI can shape its future strategies. Membership renewals offer a consistent revenue stream for your association.
Carolyn Shomali of Professionals for Association Revenue explains what associations can learn about audience engagement from the most popular podcasts today. Blue ocean strategy. Learn proven strategies to impact the conversation against the backdrop of a Presidential election cycle. Seems like a good place to start.
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.” WBT Systems describes nine virtual event strategies that minimize Zoom fatigue. Event experience. Their approach?
Pandemic engagement strategies. MemberSuite identifies five strategies for engaging members during this next phase of the pandemic crisis : content, education, community, volunteering and causes. Meetings Today talked to event planners about revenue diversification, in-person vs. virtual attendee engagement, and managing your mindset.
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 PricingStrategies.
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.
Billhighway explains how virtual events can help sponsors and exhibitors achieve their marketing goals —while helping chapters achieve their revenue goals. Presenters: Graham Harvey, Chief Strategy Officer, Matchbox Virtual Media. How have event strategies changed in the last 45 days and what does the future hold?
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
If events form part of your marketing and financial strategies, then you must move part or all of event programme on line so that you can continue to help, educate, inspire and support your customers or members. for a course programme and price. for a course programme and price. Audiences too are lovin’ them (when done well!)
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.
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.
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. exam preparations, eligibility, exam content outline, study strategies, practice questions, tips, and advice, etc.) More info/register. More info/register.
Greg Pollack at Association Analytics recommends three useful strategies to elevate your association’s impact in the new year. Hear how the speaker’s team developed a price elasticity forecast. Leave with tools you can use today to build a strategy that best fits your organization. Data, AI and value propositions. 1 CAE credit.
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). Explore innovative strategies to revitalize a nonprofit board, rekindle enthusiasm, and re-engage members in the organization’s cause.
Many members are struggling financially because they’ve been laid off, had their budget cut, or suffered revenue losses. Association websites compete with for-profits, media, and other associations for eyeballs, mindshare and even revenue. From Virtual Events to Real Revenue. Affordable membership. Chapter bright spots.
It includes questions about the impact of the pandemic on strategy, pricing, etc. If you’re interested in how much emphasis other organizations will put on areas ranging from blended learning to microlearning to combating downward price pressure, this is data you will find valuable. Raising sponsorship prices.
You can increase non-dues revenue with an online store, deliver benefits with user-generated content, and engage members with discussion forums and blog posts. If you’re savvy enough to recognize this situation, don’t argue over superficial things like price. Event registration and other non-dues revenue streams. It’s perfect.
For well over a year, we’ve consulted with dozens of associations on their go/no-go event strategies. It remains to be seen if hotels will adjust pricing to market conditions and be more flexible with partial performance and resulting liabilities. Revenue for anchor exhibitors cannot be recognized until that happens.
The resulting data will help associations understand the professional development landscape, plan learning strategy, and budget for learning programs. TopClass LMS shares lots of tips on increasing the value (and price) of your webinars. Content strategy. Host: Professionals for Association Revenue Thu 11/30 at 11 a.m. –
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