Everyone seems to be talking about non-dues revenue, and it’s with good reason. The past couple of years has demonstrated that associations can’t rely on single sources of revenue, no matter what they are.
Dues revenue, once thought stable for the long term, is fluctuating as membership levels change and member needs and preferences shift. Likewise, income from meetings and trade shows took an initial hit last year before associations began pivoting to virtual platforms. It is clear that multiple revenue streams are essential to the financial health of most associations.
Here are 25 ideas that might help you develop the extra revenue streams your association needs:
Associations have an opportunity to both increase revenue and reduce conference expenses by allowing companies to brand certain elements of the meeting. First, however, evaluate your conference fees to be sure you’re charging enough while still offering a great value.
Your meeting will attract the very professionals your suppliers want to meet. Make it possible for members and suppliers to connect easily.
Your members come to your association or trade organization because it is a trusted brand. You are in a great position to develop and offer the educational opportunities your members need for their professional growth. Think about how you can partner with large employers to provide education for their employees.
Automating a job board, including payment, can provide great service to your industry without tying up staff time.
Your publications, both online and in print, are delivered directly to advertisers’ target markets, making ads in them especially valuable.
You can turn the things your association owns, as well as the data it collects, into revenue-generating assets.
Now you have 25 great ideas for generating non-dues revenue. How can you decide where to start?
We would suggest that you should start by talking to your members. They can share what challenges they face and what solutions they would support. They might even have a few ideas to share with you!