Ask the Expert

Q:  We’re on a calendar year, but it’s already November and we’re projecting below budget on a number of revenue items. Any advice for a last minute push for revenue?

A: A few things:

• Open registration early. If you have a major event in 2020 and registration doesn’t generally open until a few months beforehand, consider opening now and incentivize (discount window) for early registration. You can target just members or those who attended in 2019 and call it a special “Loyalty Registration Rate” that they can take advantage of from now until December 31st.
• You don’t have to be a charitable organization to develop innovative promotions for Giving Tuesday, this year on December 3rd. You can leverage Thanksgiving and the year-end holidays with promotions tied into gift giving – give a gift of membership, a gift of learning, a gift of mentorship, etc. Incentivize – give a gift to your colleague and receive X discount. If you have a lot of educational offerings, create something like a “Passport to Learning” – offer a great deal for a full year of education at a discounted price, but they have to take advantage of this now, during this window.
• Now is the time to get next year’s dues renewals out. Don’t forget about those members who may have skipped this year but were members in prior years. Create a “win back” campaign with a limited run in November and December. Offer incentives like reduced dues and complimentary registrations for renewing now.

 

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