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Performance Under Pressure: Lessons From Pandemic Success Stories

COVID-19 has created new challenges for business models

A lot of organizations are struggling right now 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 has nearly doubled its membership growth rate since mid-March, 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.

Please select this link to read the complete article from Associations Now.

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