Driving Association Revenue Growth. Board Participation is key.Company Executives are busy and in a number of cases expect Association staff to deliver revenue. Yet, there are examples where Board Members are very helpful in driving revenue. In certain situations, Boards help retain and recruit members and sponsors and the results are impressive. Could the paradigm change at your Association? Yes and it requires a strategic change in how your Association works with its Directors.
Four Steps to Board Participation
First: Engage and Energize Board Members. Recruit Board members to participate on Pain Point issues (see March 4 2013 post: Know Pain Points to Drive Revenue Growth). Executives will participate on Association Boards in order to engage on policy affecting their business objectives. Once they see ROI, it’s time for another conversation.
Second: Confirm that involvement adds ROI. Share upcoming advocacy strategies, seek feedback and buy in.
Third: Seek help to expand the Association’s advocacy capacity on Pain Points. Be prepared, be specific and make it easy for them to help. For example, request introductions, phone calls, e mails, letters (Association provides) to priority retention, new member or sponsor companies.
Fourth: Acknowledge the Board members’ help to drive revenue. Recognize help at their board and executive committee meetings. This shows sincere appreciation and it will motivate other Board Members to help.
Associations should view this change as a multiyear effort. Every Board relationship is critical and consequently each is built one at a time.
Driving Association Revenue Growth
One Association utilized this approach to recruit a high percentage of its Directors. The same Board Members once they participated in Pain Point issues, helped drive back to back above 90% retention and $1 million + net revenue gains. Another Association built on new sponsor offerings and significantly increased revenues.
How has your Association worked with Board members to secure their help in driving revenue?
Much more on Association Revenue Growth at www.potomaccore.com/blog