{"id":12074,"date":"2022-08-02T14:42:02","date_gmt":"2022-08-02T14:42:02","guid":{"rendered":"https:\/\/www.naylor.com\/associationadviser\/?p=12074"},"modified":"2022-08-02T14:59:57","modified_gmt":"2022-08-02T14:59:57","slug":"building-a-future-proofing-strategy-how-to-diversify-your-non-dues-revenue-part-2","status":"publish","type":"post","link":"https:\/\/www.naylor.com\/associationadviser\/building-a-future-proofing-strategy-how-to-diversify-your-non-dues-revenue-part-2\/","title":{"rendered":"Building a Future-Proofing Strategy – How to Diversify Your Non-Dues Revenue Part 2"},"content":{"rendered":"

Byline: David Freeman & David Butler<\/span><\/p>\n

Building a Future-Proofing Strategy – How to Diversify Your Non-Dues Revenue Part 2<\/b><\/h3>\n

We can\u2019t predict the future, but we can prepare for it. Future-proofing helps to ensure that your association continues long after major disruptions. One of the best ways to future-proof? Diversifying your non-dues revenue (NDR) sources.<\/span><\/p>\n

In Part 2 of this two-part series, we\u2019ll discuss some lessons about future-proofing post-pandemic and how you can leverage your content ecosystem to improve your organization\u2019s non-dues revenue streams. And in case you missed Part 1, here is where you can read it.<\/a><\/span><\/p>\n

Lessons Learned for Associations from the COVID-19 Pandemic\u00a0<\/b><\/h3>\n

For many associations, the pandemic highlighted the importance of not leaning on one single non-dues revenue strategy. In particular, many associations rely on events and memberships as primary drivers of revenue \u2014 so losing the ability to host events was devastating. In this way, future-proofing isn\u2019t only about prepping for hurricanes and tornadoes. Your association could face political, global, or economic changes that impact your industry.\u00a0<\/span><\/p>\n

To combat these challenges, associations need to stay relevant, providing resources that align with their mission statements and benefit their members. Your association\u2019s success depends on good planning and seeking to understand your options.<\/span><\/p>\n

Leveraging Your Content Ecosystem<\/b><\/h3>\n

Your content ecosystem can help you to create more robust non-dues revenue streams. For instance, your association\u2019s publications, email subscription lists, social media followers, and membership communications are valuable. Let\u2019s learn more about how to use these to enhance NDR.<\/span><\/p>\n

Marketplace\/Special Sections in Publications<\/b><\/h3>\n

Special sections in print and digital publications allow advertisers to place an ad in an article or other content. For example, a piece of content could include a marketplace section with relevant services and products that your association members would be interested in. This type of ad can appeal to advertisers who don\u2019t have the budget for a full display ad. You could also help sell ad spaces more regularly by using a subscription model.\u00a0<\/span><\/p>\n

For example, <\/span>Surety Bond Quarterly<\/span><\/i> has a special supplement for written thought leadership pieces. Advertisers pay a premium rate to tell their stories in this highly prestigious area of the publication.\u00a0<\/span><\/p>\n

Email Sponsorships<\/b><\/h3>\n

Email sponsorships represent an easy way to get more revenue out of your existing content. A company can sponsor an email to your audience, including a display ad or advertorial within the email. Many companies are willing to pay to sponsor emails, even if it\u2019s just a simple \u201cSponsored By\u201d message toward the top of your email.<\/span><\/p>\n

Targeted Ads<\/b><\/p>\n

Targeted ads automate the buying and selling of advertising. They use technology to measure and analyze information about your site visitors, offering users a more personalized and targeted impression. For instance, imagine the impact of offering a targeted ad based on your visitor\u2019s last search versus a broadcast display ad that everyone sees. Since not everyone who visits your site is looking for the same things, you\u2019re likely to see better results from the targeted ad.<\/span><\/p>\n

To create targeted ads, you could focus on:<\/span><\/p>\n