Associations have learned many lessons in 2020 including the speed and extent of major disruptions which COVID-19 has caused within their organization’s operations and budgets. The more traditional revenue streams utilized in the past have been compromised by the pandemic. Shrinking membership and greatly reduced revenue from nonexistent face-to-face meetings made associations re-evaluate existing business models. We can no longer assume the vast majority of an organization’s budget can be derived from only so few sources. Diversifying future revenue streams will lead to less risk and more stability moving forward.
Vicki Johnson & Associates, LLC has created a team of experts prepared to support your organization in the steps needed to re-invent a stronger, more sustainable business model with less risk and greater diversification. The disruptive nature of this pandemic has offered organizations a clear alternative in building a resilient financial foundation.
We take our services beyond traditional event planning and offer a new level of strategic revenue development to:
- Engage association leadership in subscribing and adopting measurable short- and long-term goals specific to areas such as growth, product and service development and membership/industry engagement
- Work with department teams within the association to evaluate current systems of audience engagement through virtual and hybrid meeting practices
- Develop criteria for what data to capture and measure by maintaining the objectives for the organization
- Select specific engagement points in which to derive the best results
- Assess the analytics to identify trends and filter valuable metrics
- Design, develop and evaluate potential new, innovative revenue streams
- Create a strategic roadmap for implementation with actionable processes and timelines
- Measure initiatives against the association goals
- Evaluate the results annually to determine, implement, and launch additional initiatives
To learn more about strategic analytics and revenue development, please download and review this collective information document. And contact us to learn more.