When it comes to associations, there are plenty of ways to generate revenue. Memberships, subscriptions, and donations are not the only contributors that generate revenue for any association. With the evolving scenarios in the continuing education and training industry, associations can now utilize the power of learning management systems (LMSs) to create more opportunities for additional earning, irrespective of location or learner timings.
Benefits of Non-Dues Revenue Strategy for Associations
How to Build Your Association’s Non-Dues Revenue Strategy for 2025?
Here are a couple of points to decide on your non-dues revenue strategy for 2021 with an online learning management system:
What do you expect from the strategy, and what are your offerings?
Knowing your goals helps you devise the best strategy, whether it’s revenue generation or expanding your user base. Evaluate what courses and teaching assets you have and offer to members or learners for their online learning needs. Consider offering more online learning formats like webinars, ebooks, or whitepapers.
Get member feedback and see how the strategy can help them
Understand your members’ learning requirements, find skill gaps, and offer courses that bridge these gaps. Offer interactive learning through audio, video, presentations, etc. You can bundle online learning within a membership or offer discounted plans. On-demand courses on mobile devices can be a great deal.
What is your pricing strategy?
Plan expenses carefully and avoid going overboard. Design training courses so that different levels of membership are entitled to access certain courses or levels. Add advanced or specialized course modules as paid ones for revenue. Make free courses available to non-members at a minimal cost, potentially converting them into members.
How to promote your offerings?
Your in-house team can handle promotions, or you can collaborate with partner experts for cross-brand promotions. Utilize website, social media, email, press releases, and other promotional methods. Create surveys and polls to understand member requirements.
What worked, and what’s the best learning system?
Assess online campaigns and analytics to measure effectiveness and evaluate data quality. This will help with future campaigns. Match member learning requirements to finalize the right LMS for your association, considering ease of use, AI-enabled reporting, attractive dashboards, gamification, and content formats supported.
Major Sources of Non-Dues Revenue for Associations
- Creating virtual learning course content and selling it on a subscription-based learning model allows member organizations to pay a yearly or monthly access fee for educational resources.
- Sponsorships for online learning through live events can be a good source of revenue. You can create and host a webinar series with partners sponsoring it or offering scholarships to learners to generate revenue. Invite their experts as guests for added credibility. You can also use your social media for sponsored posts and monetize your audience.
- Leadership and soft skills, along with core skill sets, are highly in demand across industries. Associations can train resources from other industries for future leadership positions, honing their skills and generating non-dues revenue.
- Young members often look for learning opportunities, and offering online learning as part of membership can benefit both them and your association. When online learning opportunities with desired courses are included as a membership perk, you can retain more members and attract new ones in the long run.
- Expert-led industry education can educate members and staff on best practices in their related areas of specialization through interactive sessions like training workshops, guided exercises, and webinars with a small participation or registration fee.
- Understanding your members’ learning needs and offering accreditation programs and certifications can boost their professional growth in their desired industry. This enhances members’ trust in your association and helps you create a product that serves members and attracts non-members from the same industry.
Latest Updates in LMS Technology
- Artificial Intelligence (AI) and Machine Learning (ML) for personalized learning experiences
- Virtual and Augmented Reality (VR/AR) for immersive learning
- Microlearning and nano-learning for bite-sized content
- Social learning and community building
- Analytics and reporting for data-driven insights
- Mobile-first design for seamless learning on the go
When selecting an LMS, consider these features to create engaging and effective learning experiences.
Well, now that you’re aware of the best non-dues revenue strategy for your association, what are you waiting for? When choosing an LMS, look for a system that is AI-enabled, gamification-supported, and offers both online and offline learning across all devices at any time. A mobile app that works without internet connectivity is a bonus. Content authoring tools that support content standards like SCORM or xAPI are a plus. A good LMS empowers your workforce by developing their skills and helping them become more productive with the right career growth.Conclusion
A well-crafted non-dues revenue strategy can help associations diversify their revenue streams and achieve their goals. By leveraging the power of LMS technology, associations can create new opportunities for revenue generation and member engagement. Explore MapleLMS and start your free trial today to discover how our platform can help you drive revenue and growth for your association.
