While subscriptions and membership fees are the beating heart of many associations, taking some time to focus on non-dues revenue could make a huge difference for your bottom line. Today we will break down why non-dues revenue matters, how you can increase yours, and how Impexium can help.
As expected, non-dues revenue is revenue that is generated through channels other than member dues.
For the most part, non-dues revenue is made up of opportunities that members can opt into for a fee.
While generating non dues revenue streams may sound overwhelming at first, getting started is easier than you think—and it’s definitely worth it. There are distinct benefits to investing time and energy in developing ways to bring in money other than member dues.
Among other things, having non-dues revenue options for your members can:
You can develop additional revenue streams both externally and internally.
External non-dues revenue is money that flows in from outside the association. External revenue may come from:
Internal non-dues revenue is money that is generated within the association itself. In general, this happens when associations provide goods and services to their current members for fees.
The good news is that proper data management and analytical tools—like the ones offered through Impexium’s premium AMS—can make finding internal sources of non-dues revenue for your association easier than ever.
Depending on the industry your association serves, you could have specific options available that may not work for others. Most trade and professional associations, however, could pursue a version of the five opportunities listed below for non-dues revenue right now.
The five revenue streams listed above are just a few examples of directions your association can take. In reality, your options are nearly unlimited. The only question is which ones are best for you.
But how do you know which non-dues revenue stream to focus on?
The last thing you want to do is wing it. Instead, you can leverage your association’s member data to identify trends and shape your non-dues revenue plans accordingly.
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Come see how Impexium’s premium tools can help you maximize your opportunities for non-dues revenue. Request a demo today!