03/29/2023

Report: Revenue Strategy Lacking at Many Associations

A recent survey finds many groups are missing their budgetary goals

Substantial proportions of associations are struggling to meet revenue targets, according to a new survey, and lack the budget strategy infrastructure that might improve their fortunes.

The Association Business Development Landscape Report, released last month by Professionals for Association Revenue (PAR), reports that less than half of association executives said they will meet their budget targets for membership (48 percent) and non-dues meeting sponsorship (48 percent). Even fewer said they will meet targets for attendee registration (41 percent) and exhibits (39 percent). The report was based on a survey of 100 association executives conducted over 18 months.

The largest proportion of respondents said the chief barrier to revenue growth is staffing and resources (33 percent). But another culprit may be associations’ business-development strategies—or lack of them. Only 12 percent of respondents said they have one that works, and 55 percent said their current plan needs improvement. In addition, only 53 percent of associations say they have a dedicated budget for sales. 

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