Right now, many organizations are struggling as the coronavirus (COVID-19) creates new challenges for their business models. But some are finding ways to thrive—or at least discover bright spots in an otherwise dreary time—by leaning into the membership model.
As a result, these for-profit organizations offer examples worth learning from in the association space. Among their strategies:
Don’t be shy, ask for support. Case in point: The Daily Beast, which nearly doubled its membership growth rate in the early months of the pandemic, according to Digiday. Site visitors are encouraged to financially support the media outlet, which currently is offering a one-month trial for $1 and says its coronavirus coverage earns only 77 cents on the dollar in ad revenue compared to other content. The Daily Beast also displays a “give more” option, which has raised the average order size by 35 percent, says Chief Revenue Officer Mia Libby. (The publication also put a stronger focus on its homepage, which it discovered was a major driver of subscriptions.)
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