Associations, like any other organization or business, need to make money. For any membership group, raising non-dues revenue is an essential part of overall success. But people are cautious about spending extra money, particularly in an uncertain economy, and your association might be feeling some of that pain.
An association and professional organization has the ongoing challenge of constantly find ways to add value for the investment their members pay in dues. A solution is often allocating outsourcing opportunities that will lead and generate non-dues revenue for your association.
What do potential members look for when joining an association?
In order to determine what opportunities you need to find to add value and non- dues revenue, you need to determine what your members need first. Along with continuing education and networking opportunities, your audience is often seeking specific resources to assist them in their professional development.
Members have too much information to process and this isn’t a new problem! To ensure that you are delivering relevant, targeted, and in-demand content to drive value and member engagement is.
As the Association Executive, Learning and Development, Training, or Education director for your association, you are the curator of the education resources your association provides to your members and it’s your obligation and responsibility to ensure you deliver quality content.
To add to your challenge, you are always seeking ways to build a library of content to deliver to your members but you are time, resource, and budget constrained.
Offering valuable member learning experiences ensures that your association remains sustainable in the 21st century.
With the job market becoming increasingly competitive, members want to ensure they have the latest knowledge combined with the best credentials after their name. When you mandate your members to earn professional development on a yearly, b-yearly or every three years to maintain those certifications, make sure you are providing them flexibility and variety in your continuing education or professional development course offerings.
Today’s generation of potential members are looking at your association and they are making membership decisions based on the type of learning and overall learning experiences, which includes online learning and value you can provide them.
More and more they are learning by being connected to their digital and mobile-centric world. This means video, online collaboration and customized learning. Do you have any online learning opportunities for your members to experience?
By collecting, sharing, auditing, and delivering course content that links to well-respected high-impact sources, curators can improve both member engagement and retention. Not to mention the awareness of and add credibility for your organization. But this isn’t news to you either.
Rather than creating course content from scratch, aggregation is the solution.
This is often a challenge for professional associations, so XTRAcredits gathered a catalogue selection of expert courses that are relevant knowledge-focused e-learning products that compliment the core competencies of the certifications and designations that association members have worked hard to earn. This will help you to update and extend your member education programs with new relevant material ongoing at your association.
In addition, because subject matter experts, leaders in their fields of study provide an opportunity for enduring learning and actionable knowledge, they are also committed to ongoing knowledge cultivation aligned to your association or organizational goals. That’s where XTRAcredits can help.
How to monetize partnerships that will increase non-dues revenue for your association.
Association executives are often faced with the conflicting argument specific to promoting an outside catalogue of resources for learning experiences. An outside sourced third-party catalogue is in direct competition with their internal program offerings. That’s when a profit sharing opportunity can exist that will result in non-dues revenue.
After all, isn’t the PRIMARY GOAL of an association is to add value to their membership, ensure you provide them the most flexible options to learn and earn their continuing education and generate some revenue from it.
Offering valuable member experiences ensures that your association remains relevant but finding ways to also monetize partnership programs: Non-Dues Revenue will keep the doors open.
Price the learning experiences at a reasonable price that your membership can afford.
What we’ve seen from working with our association clients is that each organization is unique in its needs. Your requirements for membership management, recertitfication, continuing education and professional development, e-learning and event organizing is dynamic and depends on variables that only apply to you.
Finding the right partner who fulfills as many as your internal needs at once time that includes turn-key technology is the key to addressing those challenges. Finding a partner, like XTRAcredits with a database of quality resources and learning experience course catalogues is what will keep you sustainable.
You must begin with a commitment to make associations great. Get your association started today.
Be great to your members,
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XTRAcredits is a full service boutique that provides continuing education led by top performance leaders from across the globe. The yellow pages for everything continuing professional development credit related.
More About the Author, Lisa Patrick:
Lisa is the founder of XTRAcredits Group Inc.
Continuing Education Expert | Speaker | Coach | Strategist – Accelerating Businesses Around the World
Working with some of the most recognized thought-leaders in the world has given Lisa the opportunity to showcase her unique skill to see opportunities that others miss! These relationships have also provided her insights into the distinctive points of view of risk and opportunities facing today’s expert and their speaking/coaching businesses. These experiences have contributed to her success!
Lisa is relentlessly optimistic, entrepreneurial, and future-focused. She encourages contrarian thinking and rapid experimentation.
Lisa has worked with personal brands and companies such as Grant Cardone, FocalPoint Coaching, Tom Hopkins, Dr. Cherie Carter-Scott, FrippVT, Wayne Lee, International Coaching Federation, Dr. Tony Alessandra, Assessments24x7, Society of Human Resource Professionals, and much more. Find out more about Lisa by clicking here.