Generating Non Dues Revenues

To remain relevant, organizations must be able to distribute important, cutting-edge education quickly and continuously. Meeting content is an excellent education source, and the content has the highest relevancy during and after the event has taken place. Increasingly, organizations are also seeking strategies for boosting their non-dues revenue—49% of associations hosting annual meetings are concerned about how to make that happen. The good news is, with the right partner, your non-dues revenue and education programs will flourish.

Simply Recording Meetings Is Not Enough

On-demand video is increasingly becoming a cornerstone of learning. However, recordings alone cannot create new revenue streams. For members and non-members to get additional value out of the recorded meetings, the content must be high quality, promoted to the right audiences, and provide users with an advanced online education experience. A turn-key solution, like the one offered by Echo360, enables organizations to convert critical meeting content, from large annual meetings to small seminars, into personalized, engaging educational content that provides a clear benefit to learners.

The Five Steps

The process of generatingrevenue from meeting content requires thoughtful planning and a strategy which includes the following five key steps.

  1. Identify High Value Content

The most crucial step is simply determining how valuable various meetings may be to members and non-members alike. Presentations that develop or further members’ professional lives hold more value.. Typically, members can only attend a portion of the sessions offered at an annual meeting, so it’s important to make the content they missed available to them after the meeting concludes. With specialized content in high demand, look beyond your annual meeting or conference and consider offering specialty meetings, webinars and board review meetings. Keep in mind that members often don’t have the budget to attend both annual and specialty meetings. Determine your strategy well in advance to provide time to select partners and promote the high value content.

  1. Capture High Quality Content

Viewers expect a premier learning experience, whether they are reviewing content already presented, or experiencing it for the first time. The video must be high quality and provide a similar experience to watching the event in-person. Using a professional video platform with a proven specialty in lecture capture and with the highest quality digital processing, among other tools, is essential.

  1. Extend the Value of Meeting Content

When choosing a partner, make sure the vendor can integrate with your Association Management System (AMS) so that users can sign-in once using their association credentials. This is a very important feature for your constituents. Additionally, consider offering users the ability to earn education credits toward professional certification within your education portal. Solutions which offer credit earning and claiming can drive two times higher revenue. Finally, the content must be easy to find. When that information is readily accessible and searchable in one place for members and non-members, its value extends well beyond the initial presentation.

  1. Personalize the Education Experience

One important aspect of increasing content value is to incorporate personalization. When members enjoy a personalized experience with engagement tools, they are effectively participating in a virtual community. Some learners will use the content for gaining important licensure or satisfying credentialing requirements. Others may use the education to implement new techniques and stay current in their profession. The most sophisticated learning solutions, like Echo360, provide powerful personalized dashboards to optimize their education journey. Modern engagement tools allow for greater interactivity while watching videos; for example, user engagement and learning increases when they can bookmark and add notes, create playlists with their favorite topics, speed up or slow down playback and initiate peer-to-peer discussions.

  1. Market Advanced Online Education

A typical marketing and sales life-cycle should begin at least six months before an event and continue for twelve months after the meeting has taken place. Research shows that approximately 60% of non-dues revenue from meeting education content is made from sales during registration and immediately after your meeting. In fact, attendees are often the highest percentage of buyers, and can represent up to 70% of the virtual meeting revenue. Therefore, it is critical to run campaigns before, during and after your meeting, and include both attendees and non-attendees.

Conclusion

Generating non-dues revenue from meeting content involves much more than simply recording meetings and making the videos available online. You must transform meeting content into compelling education. For more information on how to make this transition, read our latest Association Playbook: 7 Ways to Extend Educational Reach and Accelerate Non-Dues Revenue