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!
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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.