For many associations, member dues only cover a portion of annual operating expenses, making non-dues revenue not just a nice-to-have, but a financial necessity. The good news? Your learning program is one of the most powerful tools at your disposal to drive new revenue streams without compromising member value.
Read our blog for strategies to drive non-dues revenue to your organization.
Associations are always looking for new and creative ways to drive additional non-dues revenue. At a recent Association Forum SIG Summit event, Path LMS Client Success Manager, Kara Adams, joined a group of association executives as they crowdsourced ideas to drive non-dues revenue.
Follow these tips to get started driving non-dues revenue at your organization:
Education and learning can be big drivers of association non-dues revenue. Selling conference recordings and courses can seem pretty obvious and straightforward, but what else?
Developing a career is important to many of your members – important enough that they are probably willing to pay for certain things in order to help develop and advance themselves. Aside from typical online education (see above) this could include:
While many events can fall into the education bucket as well, not all have to. That doesn’t mean you can’t or shouldn’t charge for them! Aside from your annual meeting, this could include:
Sponsorships are a great way to collect non-dues revenue without touching your members, or at least your core members. Sponsors are typically supplier or vendor members and have a different status within an organization. While we’re used to seeing sponsorship packages for annual meetings and tradeshows, there are so many other ways to generate sponsorship dollars!
Don’t forget to utilize local chapters to help sell your sponsorships as well!
While the plethora of items under these four categories has probably given you enough to think about, don’t forget about the miscellaneous ideas that can add up! These ideas include offering a Buyer’s Guide (that could include ratings and reviews), report data from member surveys as a business trends resource, charging for mailing lists, running affinity programs like service and insurance discounts for members that allows your association to receive royalties, and finding underwriters for publications, benchmarking data tools, and more.
Driving non-dues revenue doesn’t have to mean reinventing the wheel. Your association can make smarter use of your content, programs, and partnerships by repackaging your educational content, offering paid career resources, diversifying event formats, or expanding your sponsorship opportunities. Each tactic adds up to support your organization’s sustainability and member value.
Path LMS is used by hundreds of organizations to deliver high-quality online learning, networking events, and conferences. Book a demo today!