Free video on “How Associations Are Finding Revenue Now.”

I am delighted to be able to offer you a video of a presentation I recently offered at the Greater Washington Society of CPA’s Not For Profit Symposium on how associations are currently increasing their net income.

This presentation can be viewed in its entirety (45 minutes) or can be viewed in three shorter sections. The presentation begins with an overview of the techniques used by some of the nation’s savviest associations, both large and small, to increase their bottom line. It then goes into detail on specifically what was done by various associations. The PowerPoint slides from the presentation are also available on my website so that they can be printed out and reviewed as the presentation is being watched.

The course is based on the knowledge I have accumulated over my many years of consulting with associations on how they can increase their net income. It uses some of my best “New Money” columns as reference points, and many of the slides tie into one or more of the columns which can also be found on my website in the “articles” section.

I encourage you to review the course and share it with any and all executives that you think might be interested. If you find the presentation of value your mention of it on list serves and chat rooms would be most appreciated!

To watch the Video >>> Go to the Courses Page and view under Available Electronic Courses

An Opportunity in China, Associations Now: February 2012

This column focuses on an opportunity that was discovered by Robin K. Weiner, the executive director of the Institute for Scrap Recycling Industries, Inc. (ISRI). While the specific nature of the opportunity may work for some of you, the greatest value of the column is the underlying benefit to the association.

Here’s the story in brief. ISRI’s members ship scrap around the world. At the moment some of the biggest exporting has been from the US to China. An opportunity arose when China developed new, tighter regulations on the importing of scrap. These rules were, of course, written in Chinese, and not especially clear, making them extraordinarily difficult for ISRI’s members to understand, much less comply with.

ISRI went to work and developed dependable interpretations of the rules. Naturally ISRI’s members were very pleased to be put on more solid footing. This was a truly pressing member need and the association was able to promptly lay it to rest. The new rules created a doubling of new members in the first year and an increase in sales and membership. But what Robin found to be of greatest value was that member retention had never been higher.

So here is the question for you: What is it that your members absolutely need? Whether it will obviously make you money or not, if it is essential to the members it is essential that you find a way to get it done. Based on the research I have done it is clear to me that with proper positioning and good pricing almost everything can make your association a profit one way or another.

Read More >>> Go under Articles and Text and click on article: An opportunity in China under Most Recent Articles

In January ASAE published its Leadership edition. If you are interested in this area, the article I wrote was on how to cut the tension and build trust for new board members. The article can be found at the top of the Governance section of my articles on my website.

Read More >>> Go under Articles and Text and click on article: Cut the Tension, Build Trust under the Governance section

Bringing the same product to a new market:

Non-dues Revenue from Non-member Education, Associations Now: November 2011

The Maryland Association for Justice (MAJ) had been creating videos of their live seminars for their members. In doing so they were using the services of a for-profit company. The company suggested to MAJ that if they could provide videos that are of interest to lawyers around the country, the for-profit would be willing to enter into a profit-sharing arrangement with the organization and market the videos.

Frankly, it was a no-brainer for MAJ. Members were pleased to develop and present the materials because it provided them with good exposure, and   the association was happy to receive the check.

In my work searching for additional revenue, I am always looking for a product that will serve the broadest market. In some cases the market is an interested portion of the public, and in other cases it is a previously unnoticed but  related niche.

My question for you is this: have you taken the time and made the effort to look at what you produce and who might be interested in purchasing it? There is money to be found!

Read More >>> Go under Articles and Text and click on article: Non-dues Revenue from Non-member Education

Some hot products coming next month:

#1 A Summary of What’s Working Today to Develop Non-dues Revenue

On December 14 at 10:10 p.m. I will present a course on “How Associations Are Finding Revenue Now” for the Greater Washington Society of CPAs. The outline for that course, which I am developing as I write this, should be of interest to anyone whose business it is to find additional revenue. If you would like a copy of the course handout, please send me an e-mail; I will send you a copy after I make the presentation. If you are able to come to the presentation, please drop by and say hello. Please email me to request course materials.

#2 A Discount on Fuel for Members!

If you are a trade association whose members use a fleet of vehicles, my December column may be of real value to you. In hunting for new non-dues revenue sources, I came across an association that struck a deal with a specialized credit card company to provide significant discounts on fuel to their members.

Unfortunately, these deals are available only to an organization that runs a fleet of vehicles that are on the road constantly; they are not available to professional societies or individuals.

I expect that when the article comes out the trade association will get quite a few calls, as will the credit card company. If you would like to get the inside information before the publication date, please give me a call at 301-983-3206.

Bringing you a broader perspective:

What’s Next in Association Law, Associations Now: September/October 2011

In this month’s magazine my “New Money” column has been replaced by a feature story based on a roundtable I recently organized and facilitated on potential legal pitfalls facing associations.

While a number of topics covered in the article are related to additional revenue such as the unrelated business income tax and joint ventures, the bulk of the article is intended to bring to your attention the key issues top legal experts think you should be aware of as we complete 2011 and head into 2012.

I want to send my special thanks to the legal experts who were kind enough to contribute their thoughts and time to this effort. They include, among others, Jeff Tennenbaum of Venable LLP and Jerry Jacobs of Pillsbury Winthrop Shaw Pittman LLP—both recognized as leading lights in the field, as well as Cindy Lewin, who is Exec VP and General Counsel for AARP.

Read More >>> Go under Articles and Text and click on the article: What’s Next in Association Law

Is anybody making measureable additional revenue from social media?

There are some topics I would love to write a “New Money” column about, and this particular question is right at the top of that list. Unfortunately, without a “net income” success story I cannot write about it for ASAE. However, since it may be a question on your mind, I am happy to share my research and results with you.

First of all, this is a question that I am asked on a regular basis and one that I regularly research, and the answer at this point still appears to be “no.” So if your association is thinking of investing in social media with a hoped-for “nickel-in-the-slot” return on its investment, I think you should keep your change in your pocket.

Which is not to say that an investment in social media is not common among associations, or a bad idea. Most often what I hear is that associations, and especially CEOs, are using Twitter to stay in touch with members and other interested parties, which is a valuable benefit in and of itself.

Reliance on Facebook can come closer to a return on investment in that it is a good place to promote upcoming activities and the like, presumably increasing revenue by boosting sales. Facebook groups are also regularly used by associations to provide a special “meeting place” for their members, with a byproduct of keeping some level of control.

As for LinkedIn, it has largely evolved into a place where individuals can connect professionally, and for some it substitutes as a Web site. If you have not yet established your LinkedIn account, you can check mine out at >>> http://www.linkedin.com/pub/andrew-lang/7/34b/549. From a broader perspective, I have yet to find associations trying to make money here, either.

The bottom line is that there does not yet appear to be a measurable monetary “bottom line” coming directly from social media. On the other hand, if you have a success story PLEASE let me know…perhaps then I will finally be able to write the column!

Is your association making net income in new or different ways? 
I am always looking for new stories for my column.

Please e-mail me at alang@langcpa.com