Lack of revenue is often a symptom of an association business model issue, not a sales problem. Here’s how you can identify the real problem.
Hello and welcome to JP Moery’s Association Hustle Podcast. President of The Moery Company, JP’s mission is to arm today’s associations with insight and strategy to thrive and a progressively complex and competitive business landscape. 21st century associations must move forward with a little bit of hustle and revenue development at their core.
Why is this sales thing so difficult for associations?
Lack of revenue is often a symptom of what is right underneath the associations nose.
These are sources of the problem that we often see:
#1: The data is not very good. The contact information is old. If you’ve been contacting the same people at a prospective member business, and they’re still non-members, and you expect something different; well, you know what they call that.
#2: The pricing and the dues levels are out of whack. You’ve got to make sure that the pricing structure is relevant. Often what I see is that the dues levels are too low. The difficulty of selling a $200 membership compared to a $20,000 membership is not that much. It’s about the same.
#3: Must have the ability to ID your value proposition, your benefits, and then find the companies that are the best fit for that program. What do you have in place that will really move the needle for that company? What are the benefits? Who do we help the most? And what other companies would that be a fit for?
#4: Very little processing or reporting. The leadership in the organization has no idea what the sales team is doing. There are no reports. There’s very little feedback.
How do we unpack the black box?
Well, I’ve got some ideas. First, what is the clear benefit? What are the stories you have of delivering on that benefit for a specific company? Have them give me a testimonial about it and how you crushed it for them.
Is the price right for the membership or the sponsorship program? And is it relevant? Get a list of the best companies that will be aided by this clear benefit that have the resources available to pay you to do that. Do I have the right point of contact? Finally, develop a sales process. How are we going to connect all these dots and clearly record every step of the way?
We hope you enjoyed this edition of JP Moery’s Association Hustle Podcast. We’d love to connect with you. Check out our blog at moerycompany.com and subscribe to our weekly newsletter. You can also connect with JP on LinkedIn and Twitter at @JPMoery, as well as The Moery’s Company’s Instagram and Facebook page. To purchase a copy of JP’s book, Association Hustle: Top Strategies for Association Growth, go to JPMoery.com.
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Original Author: JP Moery Has this scenario happened to your association? It’s the fourth quarter, and you didn't reach your association membership...