Growing Non-Dues Revenue in Times of Crisis and Beyond
In large part because of the economic impacts of the COVID-19 pandemic, growing non-dues revenue is proving to be a significant concern for associations this year. According to the 2020 Association Communications Benchmarking Report, nearly three in four association executive respondents said they expect to have difficulty maintaining their pre-COVID levels of advertising, sponsorship and exhibitors. Three in five expect non-dues revenue to be lower overall, with about half of respondents saying they expect that decrease to fall in the 10% to 30% range year over year.
For many associations, the non-dues revenue that they bring in each year through advertising, sponsorships and exhibitors financially supports their mission and goals. Any substantial decrease, like some associations say they may face in the coming year, puts important member programs and services at risk. Long story short: non-dues revenue has never been more important to the sustainability of membership organizations.
As a longstanding organization, chances are you remain the number one voice of your industry or profession. But you are not the ONLY place that your industry’s vendors and suppliers can go to get their products and services in front of key decision-makers. Every contract you sign and every dollar you receive comes with the understanding that you’ll demonstrate tangible return on investment for your advertisers and sponsors. Don’t wait for them to try to calculate their ROI for dollars spent with you – prove it to them first!
It’s also worth putting yourself in the shoes of your advertisers. Despite this now months-long disruption in the marketplace, there’s more of a need than ever for your members to connect and do business. History has shown us that those companies that keep their advertising presence consistent through a downturn have a better chance of coming out stronger as the economy starts to improve again. As the popular adage says, “When times are good, you should advertise. When times are bad, you must advertise.”
In my session “Growing Non-Dues Revenue in Times of Crisis & Beyond” at the CSAE 2020 Conference: Unprecedented, I’ll dive into how your association can stand out from the crowd by expanding your communications strategy to offer new opportunities that deliver exclusive and targeted exposure to your association partners. I’ll also talk about why connection is so important – by building relationships with your advertisers and sponsors in a meaningful way, your associations can be a source of calm during storms like the COVID-19 pandemic that will ultimately lead to successful working relationships now and into the future.
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