When Facing an NDR Slump, Get Creative
Force yourself to stay connected
If continued uncertainty in the events arena has you doubting that your association will be able to match pre-COVID revenue marks, you are not alone. In the 2021 Association Communications Benchmarking Report, which surveyed nearly 500 leaders of North American trade associations, professional societies and association management companies, 61 percent of respondents said they expect lower non-dues revenue overall this year. Another 46 percent expect difficulty getting back to the levels of advertising, sponsorship and exhibit sales they saw before the pandemic.
But Brian Hoffman, President of Illinois Bankers Business Services, Inc., the for-profit subsidiary of the Illinois Bankers Association, doesn’t see things so grimly.
“With so much going virtual, it’s been extremely tough for a lot of associations and industries to be able to get their vendors in front of people,” said Hoffman. “But you can find all kinds of new ways to promote your vendors’ products and services if you get creative.”
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