Non-dues revenue has become a critical component for the financial health and sustainability of associations, but we find that so many associations find it hard to get started. According to a study done in 2023 by Naylor AMS, generating non-dues revenue was a top challenge of those surveyed and this trend has only continued to accelerate.
If you're an association that has seen your membership dues plateau or decline, non-dues revenue can provide a vital buffer, letting you continue to deliver value without increasing membership fees. In this blog we will cover some common strategies that you can implement to give yourself that "vital buffer".
1. Launch a Community Advertising Program
If you have a community platform, selling sponsorships can be a simple yet impactful way to generate revenue with minimal effort. Community ads can be sold independently or as an upsell to other sponsorships. For example, many Breezio clients offer event sponsors the exclusive opportunity to sponsor specific groups within their community, such as areas designated for event attendees to communicate with each other. Exclusive sponsorships like these can command premium pricing due to their targeted visibility.
Another option is to use community ads to promote your other income streams, such as highlighting items in your online store or paid events. By directing traffic to these initiatives, you can amplify their revenue potential.
At Breezio, we understand the importance of generating non-dues revenue. That’s why we offer complimentary community ad-selling services for our clients that enable you to offset the cost of your community platform or even transform it into a lucrative revenue stream without lifting a finger. Learn more about our ad-selling program by reaching out to us here!
2. Enhance Your Online Store
Selling branded merchandise, courses, or event registrations through a well-designed online store can significantly boost sales. Technology surrounding online stores have come a long way in recent years, so if you feel that your store has the potential to drive more revenue, consider integrating predictive analytics to recommend products based on member behavior. Integrating tools like this can increase the likelihood of additional purchases.
That said, most Association Management Systems (AMS) will come with the option for an online store, so it is important to check with your current provider to see if this is an option before seeking out a 3rd party tool.
3. Expand Sponsorship Opportunities
If your sponsorship offerings have become stagnant, it may be time to rethink your approach. Instead of focusing solely on event-related sponsorships, consider offering year-round packages that include digital advertising, webinar sponsorships, and content partnerships. This approach provides continuous exposure for sponsors and creates a consistent revenue stream for your association.
4. Offer Premium Content and Services
Members highly value exclusive content and services. Consider offering premium access to webinars, research reports, or a professional development series as an additional cost to their membership. Alternatively, packaging these offerings into a siloed subscription or including them in a premium membership can provide a consistent and predictable revenue stream. Subscriptions are widely favored across industries for their reliability, so premium membership tiers that come with a set number of items you seel ad-hoc gives members a compelling option to raise the membership dues voluntarily.
5. Host Virtual or Hybrid Events
Virtual events have become a staple for associations, offering access to a global audience at a lower cost. Incorporating a hybrid element into your in-person events can also expand your reach without significantly increasing operational costs.
The Stanford Social Innovation Review wrote this article in 2020 going through the benefits of virtual events during the pandemic, but we find that a lot of these benefits remain true today.
6. Develop a Job Board
A job board offers dual benefits: it helps members find career opportunities while allowing employers to connect with top talent. You can charge for job postings and offer premium listings or employer branding packages to further monetize the platform.
Implementation Tips
- Leverage Technology: Utilize platforms that make it easy to manage ads, run an online store, and host/promote virtual events. When reviewing new systems always ask how they have seen clients use their system to generate non-dues revenue.
- Member-Centric Approach: Always consider the value to members. Non-dues revenue strategies should enhance the member experience, not detract from it.
- Continuous Innovation: Stay adaptable. Regularly assess and update your offerings to meet the evolving needs of your members and industry.
Building a Resilient Future for Your Association
In today’s dynamic landscape, relying solely on membership dues is no longer a viable strategy for many associations. The diversification of revenue through innovative non-dues initiatives is essential for long-term sustainability and growth. From launching community advertising programs to enhancing online stores, each strategy discussed offers a pathway to robust financial health and increased member engagement.
By integrating these strategies thoughtfully, your association can build a resilient financial foundation, allowing you to weather uncertainties with your overall membership while continuing to deliver exceptional value. The key is to remain agile, continually reassessing and refining your approaches to meet evolving member needs and market demands.
Ultimately, the pursuit of diverse revenue streams will enable your association to thrive, fostering an environment of innovation, stability, and enhanced member satisfaction. Now is the time to take action, leveraging these insights to not only secure financial stability but also to propel your association toward a prosperous future.
