Four High-impact, Low-cost Non-dues Revenue Opportunities
Finding new non-dues revenue sources isn’t easy
Associations that are small but mighty are often faced with different challenges when it comes to non-dues revenue sources. New initiatives often need to be cost-effective with no additional burden on staff, plus aligned with the association's mission. But how do you know which opportunities to test with limited time and resources? ASAE's Marketing Professionals Advisory Council's subcommittee on Revenue and ROI identified a few proven strategies to boost your non-dues revenue.
When Alan De Young became executive director of the Wisconsin EMS Association (WEMS), he immediately made some changes to increase revenue. The organization owned their building, but with only three staff members, he was able to reduce his office space. As a result, he sold excess furniture and transformed the other offices into private office suites to rent out. In addition, the building has plenty of parking, so he rents out the surplus parking spots to local residents. This has provided an additional annual revenue stream for the organization.
WEMS also took a different approach to sponsorship programs. Rather than a traditional sponsorship where a company pays for a list of items in return, De Young approached a company that wanted to break into the EMS industry and gave them the opportunity to market to its targeted audience. As a result of the leads, WEMS was given a percentage of their profit as a rebate. This allows WEMS the freedom to find the right vehicle to market, whether that is a rotating graphic on the website, or email, or booth at their show. As a result of these initiatives, nondues revenue for WEMS increased by 49 percent from their last fiscal budget year, with their membership revenue increasing by over 31 percent.
Please select this link to read the complete article from ASAE’s Center for Association Leadership.