2024 is just around the corner! Is your organization looking for tips to generate end-of-year revenue?
You’re not alone. According to the latest Community Brands research, 71% of association professionals prioritize increasing non-dues revenue.
Read our blog for helpful tips to boost end-of-year revenue and ring in 2024 by hitting your organization’s goals.
6 steps to leverage your LMS to drive end-of-year revenue
Did you know that professional development courses make up just 7% of most organizations’ revenue? Community Brands reports that while professional development contributes to a small amount of non-dues revenue, 51% of members want training opportunities and certifications or credentials.
Additionally, learners are relying more on their professional membership organization for professional education. Learners perceive the value of educational sources like LinkedIn or Google as less helpful than their organizations.
Follow these steps to invest in your continuing education (CE) program and drive non-dues revenue at your organization:
1. Focus on content
Driving non-dues revenue with your CE program depends on the content you provide for learners. To generate end-of-year revenue, focus on offering diverse content options to attract more learners. Provide needed industry-related courses and certification/credential paths, but also offer special interest courses on hot topics, DEI, or learner wellness. Freestone LMS makes it easy to offer engaging course mediums and provide accessible learning options. Boost learner engagement and drive non-dues revenue with Freestone’s interactive features like virtual chat, Q&A, quizzing, live-polling options, and more.
Freestone LMS makes it easy to offer engaging course mediums and provide accessible learning options. Boost learner engagement and drive non-dues revenue with Freestone’s interactive features like virtual chat, Q&A, quizzing, live-polling options, and more.
2. Get creative with course prices
To increase revenue, you can also reconsider pricing. Try offering holiday discounts to encourage learners to purchase more courses. You can also create an all-access subscription plan where learners pay a flat annual rate for CE courses. Consider offering CE course bundles, making prices affordable by offering a discount like “buy 5 courses for the price of 4.”
3. Repurpose content
To get the most bang for your buck out of your CE courses, repurpose content when you can. For example, you can take an uploaded webinar and reformat the content into a podcast, infographic, or video. You can also rebroadcast previously live events to reach more learners.
When possible, break up your longer courses into short learning opportunities, called microlearning. Shorter content is easier for learners to digest and increases learner comprehension.
Freestone LMS empowers organizations to repurpose content. Use Freestone to rebroadcast previous live events or host them on-demand. Boost learner flexibility and engagement with Freestone LMS.
4. Personalize learning
Make it easy for learners to purchase the courses they need to meet requirements for certifications, credentials, or professional hours, ensuring learners can create a customized experience. Create learning paths or group courses by specific learning needs so learners can quickly select and buy courses. Allow learners to bundle courses based on professional interests, industry news, hot topics, or miscellaneous content.
5. Invest in sponsorships
Sponsorships are a fantastic revenue opportunity—Community Brands research found that 58% of organizations rely on sponsorships/partners to drive non-dues revenue. Boost non-dues revenue at your organization by selling sponsorships for multi-day conferences, special events, webinars, or other learning opportunities.
Attract more sponsors (and revenue) by using your LMS to promote the sponsorships. Try displaying sponsor logos to increase sponsor visibility and exposure. Leverage your LMS to create a virtual space for sponsors to connect with learners. Offering these sponsor perks will help you attract more sponsorships for future learning events.
Freestone LMS makes it easy to elevate sponsorships and drive non-dues revenue. Use Freestone to offer sponsor perks like lead generation. Staff can add sponsor assets for easy download and create a sponsor lead form with direct website access.
6. Reach non-members
Expand your CE program base by marketing your courses to non-members. Promote your exciting and hot topic courses on your website and social media to reach more learners.
Consider offering member and non-member tiered prices for your CE courses. Price your courses higher for non-members to highlight the benefits of being a member. You can also try running promotional periods where non-members can try out your CE program at a reduced price so non-members can preview the true value of your learning program.
To discover how Freestone LMS can help your CE program drive non-dues revenue, connect with our team today!