How to Mitigate Revenue Losses
Knowing your sales history is critical to spotting downward and upward trends
Whether it’s failing to meet conference attendance goals or advertising projections, it’s not so much if an association will experience a revenue loss, but when an association will experience a revenue loss.
That’s why Christine Melendes, CAE, vice president of strategic events and partnerships at the Association for Corporate Growth, said it’s critical to start keeping track of numbers. “Knowing your sales history is critical to spotting downward and upward trends,” she said. “Without this data, you will be surprised, and that’s not a good place to be. Nobody ever wants to be surprised.”
After that, she recommended gathering information on competitors, including what they’re doing or even what they’re doing differently. “The more information you have at your fingertips, the better off you are,” she said. For instance, associations might be able to spot trends in competitors’ programs that could tip them off to something to be mindful of within their own association.
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