04/18/2024

Business Development for Data-driven Times

The time is right to develop new sources of revenue

Associations have access to more information about member behavior than ever. But many are still slow to apply it to a revenue strategy.

Unsettled political and economic times can be concerning for association leaders and their boards, which can be risk-averse even in boom times. But now is a good time for associations to think about ramping up their business-development strategies—in part because many organizations have already learned how to do it during the pandemic, said Vista Cova consultancy CEO Lowell Aplebaum, FASAE, CAE.

"The pandemic demonstrated the need for at least a rethink of some association business models," he said. "Organizations that had been solely reliant on their meetings suddenly were challenged. So, there's a more global understanding of the need for new business line development. But that means you need to create the capacity for that."

Please select this link to read the complete article from Associations Now.