Non-Dues Revenue for Associations
It’s time your association makes a few extra bucks on the side
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There are numerous options to generate non-dues revenue for associations. Membership dues generate 45.4% of trade association revenue and only 30% of professional association revenue. Because membership dues are insufficient to run an association efficiently, non-dues revenue generation is critical. As a result, associations are increasingly choosing NDR as a business model.
Non-dues revenue includes fundraising, job boards, merchandising, premium content sales (courses and podcasts), partnerships, advertising on mobile apps and websites, and offline and online learning with certifications, seminars, courses, and workshops
Any successful non-due revenue strategy requires planning and goal-setting. Strategies generated more revenue than expenses for 80% of the surveyed associations. Here are a few things to keep in mind if your organisation is developing a new NDR program or refining an existing one.
Any successful strategy requires planning and goal-setting. Of course, one goal is to make money, but what else is there? Maybe your organization wants to increase its membership or reach out to a new audience. These choices may impact how you carry out the NDR strategy.
Non-due revenue strategies, as previously stated, should add value to your association's membership. When planning your approach, keep your audience in mind. Understand your members' learning needs, identify skill gaps, and provide courses to fill those gaps. Provide interactive learning opportunities through audio, video, and presentations.
Make a careful budget, and don't go overboard. Otherwise, your organization's expenses may exceed its income. You can create training courses so that different membership levels can access different categories.
You'll want to promote these opportunities once you've decided to offer digital or print ads or host a conference. First, consider the distribution channels to reach out to advertisers and members. Email, public relations, social media, and other methods may be used.
After the campaign or event is over, evaluate what went well and what didn't. Analyze the online campaign's effectiveness and the quality of the data collected. This will help future campaigns. Please keep track of that information and use it to plan for next year's goals.
Find the best LMS for your organization by matching members' learning needs. The ease of use, AI-enabled reporting and proctoring, appealing dashboards, gamification, supported content formats, and online learning system engagement can be assessed by using the right LMS.
Virtual learning, industry education, leadership and soft skills training, certification and accreditation programs, selling online courses or seminars, educational workshops, sponsorships, and perpetual membership are non-dues revenue generation options available to associations using LMS. Some of the association revenue streams through LMS are:
Paradiso LMS is a leading AI-powered LMS that monetizes your online and offline learning for non-dues revenue while improving stakeholders’ learning experiences and increasing course sales through gamified courses. Furthermore, Paradiso LMS empowers your workforce enhancing eLearning revenue significantly.
We at Paradiso provide more than just a virtual and hybrid event platform; we become an extension of your team with our managed services for associations, becoming an amazing non-dues revenue generator.
Paradiso is the one-stop solution to boost your association’s non-dues revenue cost effectively