Are you looking for strategies to increase non-dues revenue? You’re not alone! According to the latest Community Brands Association Trends research, 71% of association professionals listed non-dues revenue as a top strategic priority in the coming year.
Leveraging your learning management system (LMS) to generate non-dues revenue is the perfect way to prioritize your goals throughout the year. Read our blog for 13 tips to utilize your LMS and drive non-dues revenue.
How can your learning management system increase non-dues revenue?
The latest Community Brands research found that just 36% of associations rely on their continuing education programs to drive non-dues revenue. However, 51% of association members identified training opportunities and certifications and credentials as their top member benefits. With this research in mind, there is a definite opportunity for associations to increase non-dues revenue with continuing education programs.
Your ability to drive revenue from your learning program depends largely on your ability to create great courses. As you create a content strategy for your continuing education program, be sure to capitalize on the ample opportunities for your association to succeed and thrive, helping you drive non-dues revenue.
Here are 13 ways to leverage your learning management system (LMS) to generate non-dues revenue:
1. Offer dynamic and diverse content
On-demand content is any learning material that can be downloaded at any time. This kind of content can come in all shapes and sizes ranging from re-broadcasts, webinar recordings, white papers, course materials, and more. If your educational content has typically been included as a free member benefit, consider limiting how much of your content remains free, and what becomes “premium content.”
Try creating content that does not require a lot of heavy lifting on your end and includes public offerings from free education to high-value, higher priced, premium, and members-only options. Upsell your product as a great online learning opportunity and utilize the fact that your consumers can purchase the information they want in real-time.
2. Focus on industry trends
Capture your audience immediately and provide learners with the insights they are striving for when you offer content based on industry trends. Our ever-changing world offers many opportunities for “hot topic” programming that can meet your learners’ just-in-time needs.
Look for topics that are being discussed in your industry today, such as changing regulations, and offer online sessions to provide your learners with details and expert insights.
3. Repurpose and break out content
Hold your learners’ attention and keep them coming back for more, by breaking up longer courses into smaller, easier-to-consume chunks. Your members have diverse needs when it comes to formats for their learning. On-demand content is readily available to repurpose. Mixing in repurposed content is an ideal way of expanding learning options and leveraging resources that already exist.
A few examples of repurposing include:
- Breaking up long-form content into smaller more accessible packages. Compare your content to the popularity of social media and how most people enjoy short bursts of knowledgeable content in some cases and longer formats in others.
- Re-formatting information by transcribing info from a video into an infographic or a series of images.
- Update pieces with new or more relevant information.
- Offer re-broadcasts of a pre-existing webinar.
4. Customize your learners’ experience
If your members are required to complete a certain amount of ethics hours to maintain their license, try offering a set of learning opportunities that complete their hours. Alternatively, you can also empower members by letting them create their own course bundle.
Learners could choose several pieces of content to customize their own experience at an affordable grouped price for them but providing more revenue for you.
5. Use your LMS to personalize communications
Sometimes reaching out to potential attendees on a first name basis can get them in the door. Use your LMS to facilitate outbound communications, making emails and notifications as personal as possible. Your LMS should make it easy to capture data and segment your learners. With learners segmented, you can target communications based on several distinct characteristics.
The right LMS will empower you to use and personalize your data, ensuring you deliver a range of offerings like:
- Preferred learning mediums like mobile vs. technology-driven learners.
- Encompassing demographics.
- Previous courses taken and the topics of interest.
- Career stage.
- Activity during events.
6. Easily complete sales
An LMS that provides an online shopping cart makes it easy for your members to add all the content they need. The e-commerce experience should strive to simple with multiple currency options, coupon or promotional discount capabilities, and instant downloads. Ultimately, your LMS’ ability to offer a seamless shopping experience will lead to higher sales.
An outdated or difficult e-commerce system will discourage transactions and leave members unsatisfied. Make sure your learning management system can easily support your content purchases and downloads.
7. Sell sponsorships
Your customized LMS can display advertisements on your educational content to bring in even more revenue. Highlighting sponsorships creates more visibility for your sponsors and allows added exposure to your membership base.
Best of all, it does not cost your association anything. It is free space that you would otherwise be wasting. Not only can you add sponsorships to your event space, but you can also add sponsor logos and advertisements to your on-demand content.
8. Reach more learners
Attract more learners by promoting your educational content catalog to everyone, members and non-members alike. Social sharing is a must, and the right LMS will be able to serve all audiences your valuable content.
Be sure to have separate pricing tiers for non-members who purchase your on-demand content. This allows you to still capitalize on non-member transactions while maintaining premium value on your membership services.
9. Effectively market and promote your learning courses
Obtaining the right data to secure your learners’ interest is at your fingertips with the right LMS. Refine your learning program with reporting insights on everything from per-course metrics to learner engagement analytics, saving your team money and time.
Your LMS should allow you to monitor learner participation via Q&A, group chat, real-time polling, surveys, checkpoints, and robust quizzing. Surveying your attendees can also guide you when you are looking to segment your learning offerings or repurpose content.
10. Integrate your LMS and AMS software
Try syncing your LMS with your AMS to offer an enhanced member experience. Remember that a streamlined, user-friendly interface will lead to a more positive experience for your members. Making their information, content, purchases, and downloads as convenient as possible will only benefit your association.
Additionally, linking the member data between your LMS and AMS allows you to communicate with members conveniently and effectively to proactively market your content. With custom email contact lists, you can target segments of members with more relevant content. Consequently, this leads to more interaction with your content as well as increased purchases.
11. Amazing customer support
Ensure your LMS offers customer support services to supplement your team in content creation, webinar moderation, production services, and end-user support. Having this support allows you to produce the highest quality content and educational services possible.
Remember, the right LMS will provide the support and services you need to achieve your objectives and help secure those non-dues revenue sources.
12. Built-in live events and virtual conferencing capabilities
Live events and conferences can also be a major source of added non-dues revenue for your association. Promote your learning events and sell several ticket pricing tiers to extract the most value out of this opportunity. Virtual conferencing and video streaming give your attendees the convenience of an in-person experience online, at their fingertips.
Generate even more revenue by sharing events with non-members (at premium prices). You can accomplish this easily through social media sharing and promotions. This wider audience secures more ticket sales as well as increased brand recognition for your association. Webinars and webcasts are great ways to provide continuing education opportunities in an online learning environment. Moreover, they require only minimal equipment: a device with a webcam and microphone, an internet connection, and a learning management system (LMS).
13. Host continuing education and manage certifications
Empower your members’ development by providing them with a robust and well-organized learning portfolio. There are many industries that require continuing education credits, training, or certifications.
Be sure your members can easily accomplish all their learning needs through your association’s LMS. Manage continuing education requirements and deliver certification based on your association’s unique needs in one centralized platform.
Can your current LMS deliver?
It may be time to upgrade your LMS platform if your software poses challenges in accomplishing the above list. If your existing content is disorganized or difficult to download, administrative tasks are a headache, or your association is lacking the support it needs to provide members with quality educational content, it may be time to consider upgrading your learning management system.
Similarly, if you are currently getting by without an LMS but are ready to streamline your processes and monetize your content for added revenue, be sure to keep these capabilities in mind when selecting your new LMS platform provider. The right learning management system will not only optimize your educational content, but it will actively boost your revenue opportunities.
If you are considering taking the plunge in shopping for a new or more robust LMS, keep these three tips in mind when comparing systems:
- Keep your association’s objectives at the forefront of your search
How does your association plan to grow? You want a system that can handle your current needs, while being able to scale for future growth. - Establish your prerequisites
Develop a list of the technology criteria you will need to meet member expectations. Keep in mind any integration needs that will help to create a seamless member experience. - Partner for success
Write down your goals for strategic growth (including increased non-dues revenue through content and credentialing) and find a vendor who will partner with you to achieve them.