Ask JP question of the day is, “What’s the best way to recession proof my Association?”
Hey, I tell you what, now is the time.
We’ve experienced some great economic situations. In fact, if you’re an association and you’re not growing, you’re not bringing in more revenue, and you’re not growing your membership now… man, let me tell you, the winter that is about to come is going to make you very cold.
Now is the time to double down in a couple of areas.
One: ask yourself what new membership categories might be in your space, or in your industry, that you can start developing now. Secondly, the opportunity to look at your membership dues structure and evaluate it to see if it’s relevant to the industry that you are in now. We see this a lot: associations have an old antiquated membership dues structure that has a lot of large members that have tapped out at the very top… Now’s the time to address that. The other thing that I want to mention is that now is the time to win the internet and win sales and marketing. It’s the time to establish and build the brand, begin to make connections with non-members, non-sponsors, and folks that aren’t active with you. You want to develop those relationships and turn them on when the recession might hit. Now’s the time to lay that foundation because you’re going to be ready when things do tail off a little bit. And, the other associations that you might be competing with are panicked. I don’t want you to be in that situation. I want you to lay that foundation now. You’ll be better off for it, even if things continue to go well.
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In the ever-evolving landscape of associations, achieving long-term revenue growth is a continuous challenge. As expectations shift and new...