By, Whitney Wilgus, Client Success Manager at Impact Association Management
More and more associations are taking a closer look at their non-dues revenue generation in hopes of providing new programs and services for members and maintaining financial security. At the 2023 Non-Dues-a-Palooza in Denver, CO, I and over 100 other attendees unpacked ways to diversify our associations’ revenue streams and discussed challenges facing our industry. Below are a few key takeaways from the event.
1. Focus on focus groups
The pandemic has taught us that we can’t rely on events alone to bring in revenue, so don’t be afraid to get creative.
Many associations have turned to focus groups to generate much-needed revenue. By connecting members with service providers in a small group format, either in person or virtual, associations can provide significant value for sponsors. It’s a win for everyone–members can comment on products offered by the sponsors, companies can gather this important feedback to improve their services, and associations can gain revenue, all from facilitating these important discussions and providing a way to connect.
2. Don’t be afraid to push sponsored content
Email fatigue is not nearly the concern you might think that it is! Don’t be afraid to send out that co-branded content from sponsors, whether it’s a video from your knowledge library or a blog post from a sponsor. They want to be positioned as the experts in their field and your members are looking for tools and services to help them in the industry.
One small idea is to include a poll question from a sponsor in your monthly newsletter. Working collaboratively with your sponsor, you can draft a survey question on a topic that is pertinent to their interests and deliver it straight to your members. It takes minutes to add the question, but the results of the question could be invaluable to your sponsors.
3. AI is here to stay
Beth Z from Your Nerdy Best Friend made it clear in her keynote presentation that, whether we like it or not, AI is here to stay and associations can and should consider how they can use it for good. Dip your toe into the world of AI by exploring how you can use it to create a chatbot to help members fill out an awards nomination form, or even create an AI-powered chatbot for your website to help members get their questions answered AND cut down on direct inquiries to your membership teams.
However, AI comes with biases and stereotypes. Keep a close eye on any AI tools to ensure they are helping, rather than hurting, your association.
Associations continue to look for strategies to pave the way to success and growth. A few of the tips above can change the game in your plan for non-dues revenue.