When McKinley conducted a recent survey identifying the association market's three highest priorities for the following year, the goal of generating non-dues revenue topped the chart. Increasing non-dues revenue allows for organizations to rely on alternative sources of income and not solely on membership payments.
So how can associations bring in more non-dues revenue? One word: Mobile.
Mobile is the gatekeeper to greater revenue opportunities. Think about it - we spend through mobile as consumers almost daily whether we’re signing up for a workout class, ordering a meal, booking a trip reservation, purchasing products, etc. And it’s apps that are the vehicles for these transactions.
So how does this relate to an association?
First non-dues revenue option: In-app sponsorship.
Advertisers have flocked to apps as they’ve become the most effective medium for gaining the best ROI. Compare the experience you have with a magazine advertisement to that of one discovered by scrolling through social media on your phone. When inside an app, ads take consumers many steps further. They allow a target audience to interact with them through clicking and instantly directing viewers to attached links and unique landing pages. From this, analytics then become available for partners to receive tangible results in order to measure campaign success.
Second non-dues revenue option: Offering a one-stop mobile shop.
Whether it’s resources, products or events you’re selling, members are much more likely to engage in buying when it’s convenient for them. A significant impact on revenue is made when purchasing is right at a consumer’s fingertips. Plus, if members are regularly in a dedicated mobile environment consuming association content and collaborating with fellow users, there's a better chance they'll want to continue investing in your organization's offerings by purchasing additional literature, signing up for workshops or attending events. It all comes down to presenting ongiong membership value for continued consumer loyalty to grow increasingly stronger.
Examine your own mobile habits. Think about the mobile ads you connect with or the mobile purchases you make. The habits of your members are no different. Utilize mobile to your advantage as it’s only going to become more and more integrated with our lives and the way we do business.