Driving revenue for your association takes more than a lucky break, so be sure to think through your strategy. Also: Is your organization ready to go digital first?
Having a mission is easy. Now comes the hard part—funding it.
Your strategy for raising nondues revenue can’t depend on hitting on a hot viral campaign. Today’s Social Media Roundup is all about the fundamentals that have to come first, particularly when you’re looking to build affinity programs.
A Revenue Refresher
— John Ricco (@johnricco) September 8, 2014
“Although it would be nice, let’s face it, we all can’t develop the next Ice Bucket Challenge.”
John Ricco, CAE, chief staff executive of Partners in Association Management, admits there’s only so much viral success to go around to help raise funds for organizations. So the focus, instead, has to be on revenue fundamentals.
In a blog post for the company’s Partners Preceptors blog, Ricco breaks down what you should be thinking about when building your association’s affinity programs, from concept to due diligence. It’s a long process, and there could be challenges along the way, including whether you’ll need to make investments to help drive your financial goals.
Ricco promises a two-minute read. Hopefully the impact will be a little longer than that. (ht @johnricco)
The Flip Side of Digital First
— RealMatch (@RealMatch) September 8, 2014
Being a digital-first publisher may sound like a great idea. But then again, your association may not be ready to take that plunge at the moment.
In a piece on Recruitment Advisor, Mary Hiers looks at the pros and cons of making the big move. And surprisingly, they’re not all positives.
For one thing, Hiers notes that going to a digital-first format requires a lot of extra commitment, both on the audience-development front and on the revenue front.
“To truly be successful in the realm of digital publication, you must be persistent and dedicated,” she writes. “A site that lacks regular, fresh content will not attract viewers. This must be done daily. After all, you want to keep readers coming back for more and give them something to look forward to.”
Hiers recommends thinking hard about the staff resources you have, the advertisers who will be willing to put their ads on your site, and the audience you’re trying to reach. Short version: Your strategy matters. (ht @RealMatch)