How a Simple Event Change Increased Association Revenue - GrowthZone

How a Simple Event Change Increased Association Revenue

The Challenge:

It’s no secret that many industries were affected by the economic conditions of the Great Recession. As a result, some trade associations were impacted more than others. For example, printing associations experienced a decrease in memberships due to consolidations, buy-outs, and increased digital marketing and communications.

A New Idea:

One printing association in particular, when faced with lost membership and non-dues revenue, recognized it was critical to evaluate their programs and member benefits. They determined that, in the past, their awards banquet was the most successful source of non-dues revenue.

How to Make Sure Your Association Mission Statement Is On Target.

To keep the banquet profitable, the association knew that maintaining both attendance and award submissions was key. After evaluating several ideas, the decision was made to add three new sponsored awards to the banquet program.

The Additions:

  • Customer Service Representative of the Year
  • Production Professional of the Year
  • Team of the Year

The results:

  • Increased attendance (because members brought their nominees)
  • Increased sponsorship revenue
  • New opportunities to recognize and motivate staff at printing companies
  • Increased member engagement (included more members in the judging process)

Taking some time to reevaluate their offerings allowed the association to increase event revenue, offsetting some of the losses they were experiencing in other areas 

On-Demand: Engaging the Disengaged Member with Shari Pash

SEE ALSO: 6 Ways to Improve Association Decision Making

 

Chat Now 1-To-1 Demo Live Webinar Demo