So, let\u2019s learn more about diversifying your sources of revenue beyond dues and how this type of future-proofing can prepare you for whatever lies ahead.\u00a0<\/span><\/p>\n You guessed it \u2014 future-proofing is the process of protecting your organization against potential future events. More specifically, <\/span>it\u2019s the development of methods to minimize the impact of future events. Future-proofing can be used for associations, businesses, objects, and people.<\/b><\/p>\n Let\u2019s take a physical office building, for example. Office buildings are insulated to provide protection against heat, cold, and extreme weather such as hurricanes and tornadoes. Some may have solar panels while maintaining access to the electric grid. And their customizable layouts can even adapt to growing staff.<\/span><\/p>\n In short, thanks to future-proofing, modern office buildings can be prepared for anything. And your association should be, too.<\/span><\/p>\n Why is Future-Proofing Important?<\/b><\/p>\n We hate to break it to you, but no business or association is untouchable. There are no guarantees that a crisis won\u2019t impact your association someday. A future-proof strategy is your assurance that you\u2019ve protected your association against the world\u2019s unknowns to the best of your ability. This helps preserve your association while upholding fiduciary responsibility to your members and stakeholders.\u00a0<\/span><\/p>\n Over the years, many associations relied on hosting in-person events as their main non-dues revenue driver. With the introduction of COVID-19, one crisis instantly derailed years of progress and earnings in March 2020. Associations revised cancelation clauses and braced for impact. For the first time, they considered a future without in-person meetings or events.\u00a0<\/span><\/p>\n We can\u2019t be sure when the next global, regional, or local crisis will strike, or how it will impact your association. But with future-proofing, when that time comes, you\u2019ll be ready.<\/span><\/p>\n To future-proof your association, you need to diversify. <\/b>Aside from dues, how does your association earn revenue? Let\u2019s take a look at some common sources.<\/span><\/p>\n Some traditional NDR generators include:\u00a0<\/span><\/p>\n These are great options to help achieve your association\u2019s revenue goals. But for future-proofed success, you need to move beyond traditional means.\u00a0\u00a0<\/span><\/p>\n Incorporating unique NDR strategies can help to diversify your overall revenue streams. <\/span>Remember: diversification and future-proofing go hand-in-hand.<\/b> New non-dues revenue drivers can increase member engagement, which not only encourages advertisers to renew, but also attracts new advertisers.<\/span><\/p>\n Here are some ways to think outside the box when it comes to NDR sources.<\/span><\/p>\n Sponsored Content\u00a0\u00a0<\/b><\/p>\n Sponsored content can help your association gain visibility for partner companies and other interested parties on well-marketed platforms. It\u2019s a great revenue source because the content is placed around material that readers already enjoy. This means you\u2019ll build a valuable client connection and enhance the user experience \u2013 instead of disrupting it, like irrelevant advertising can \u2013 while earning NDR. With so many ways to leverage sponsored content, there\u2019s no reason your association shouldn\u2019t take advantage of this revenue source.\u00a0<\/span><\/p>\n Let\u2019s dive into each type in a bit more detail.<\/span><\/p>\n Print\/Digital Sponsored Advertorials<\/b><\/p>\n Advertorials must be clearly marked as sponsored content. This is because advertorials are sponsor-provided editorial content. And to be successful, they must provide value to your members. Beyond that, you get to control publication requirements. One way to streamline your review process is to stipulate that your association may edit content to meet the criteria. Then, if a supplier submits insufficient content, you can make changes, request changes, or decline to publish.\u00a0<\/span><\/p>\n Research Papers or Surveys<\/b><\/p>\n If your association publishes annual surveys, research papers, or reports, consider offering exclusive sponsorship opportunities. Since research papers and reports help to uniquely position your association as an authoritative resource or thought leader, be careful with sponsorship placement. The value of the content should supersede any mention of the sponsorship, but the opportunity for elevating the content with a partner sponsor is always worthwhile to consider.<\/span><\/p>\n Podcasts\/Webinars\/Seminars\u00a0<\/b><\/p>\n Podcasts, webinars, and seminars can have a longer shelf life than other forms of content, making them great opportunities for sponsored content to grow non-dues revenue. With a publication schedule that includes speakers and relevant topics, advertisers are often willing to buy ad spots at a premium when topics align well with their brand or pay to serve as thought leaders with your association. Although many topics are not suitable for \u201cpay-to-play\u201d speaking opportunities, many are, and your association should consider this with each opportunity.\u00a0\u00a0<\/span><\/p>\n Social Media<\/b><\/p>\n Social media offers a huge revenue and advertising opportunity. That said, it\u2019s a moving target. New developments, trends, and platforms arise daily. So it\u2019s important to ensure that you only take advantage of social media opportunities that align with your members and association values. When you find the right fit for sponsored content on social media, you can monetize opportunities based on the size of your following. You can also use social media to promote other content produced by your association (magazines, reports, etc.).<\/span><\/p>\n Webinars and Educational Programs Within Your LMS<\/b><\/p>\n When recruiting sponsors for educational content, focus on the benefits that the sponsors should receive. A few examples include having their name and\/or logo appear throughout the presentation, including a member of the organization on a webinar host panel, offering custom introductions for your sponsors at the start of the event, etc.\u00a0<\/span><\/p>\n You can offer standalone sponsorships for educational content or bundle this offering with other types of advertising opportunities. Make sure that any potential sponsors align with the focus of those programs.\u00a0<\/span><\/p>\n Opportunities and Extras at Events<\/b><\/p>\n As we emerge from the lengthy event hiatus over the last two years, it\u2019s once again viable for associations to host events. And with events come additional ways to maximize your association\u2019s event revenue. This includes offering:<\/span><\/p>\nWhat is Future-Proofing?<\/b><\/h3>\n
Traditional Non-Dues Revenue Generators<\/b><\/h3>\n
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Beyond Tradition: Future-Proofing Strategies for Non-Dues Revenue<\/b><\/h3>\n
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David Butler; Senior Director, Business Development has worked tirelessly within the association community for over 12 years as the Senior Director of Business Development at Naylor. In that time, he has assisted association colleagues by providing the thought leadership necessary to maximize opportunities to drive non-dues revenue, acquire and retain members, and advance their unique missions.\u00a0 Outside of the office, David enjoys watching football with his family and visiting the local dog parks with his Goldendoodle and Toy Poodle.<\/p>\n![\"\"](\"https:\/\/www.naylor.com\/associationadviser\/wp-content\/uploads\/sites\/2\/2022\/07\/David-Freeman.png\")
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