In the ever-evolving landscape of association management, diversifying revenue streams is a pivotal strategy for achieving financial sustainability. At Kellen, we understand that non-dues revenue is not just a financial necessity; it’s a dynamic force that fuels our client partners’ growth. Throughout the year, our dedicated development and strategic partners team has been at the forefront, identifying new revenue streams, evaluating existing ones, and implementing groundbreaking fundraising initiatives. Our commitment to nurturing strong relationships has been a cornerstone, leveraging our connections with sponsors, exhibitors, and vendors to deliver exceptional value to our client partners.
In 2023, Kellen showcased the power of strategic collaboration and relationship-building. One of our healthcare organizations, already in a influential partnership with a sponsor, uncovered an additional opportunity to serve a patient population aligned with another Kellen healthcare association. This revelation led to a remarkable $40,000 grant for the newly identified organization, highlighting the profound impact of understanding and leveraging relationships, and the power of working with an Association Management Company.
Collaboration remains central to our success, and we are fortunate to work with hundreds of dedicated volunteer leaders who inspire our cross-functional teams. This collaborative spirit allows us to create new connections and adapt strategies tailored to each association’s unique needs.
In another example, a leading trade association set ambitious sales goals for 2023, spanning conferences, advertising, and certification program sponsorship. Through research, collaboration with board members, and personalized outreach, Kellen exceeded the association’s overall sales goal by an impressive 40%, marking a 6.8% increase from its all-time sales record. Our digital team added value for sponsors by conducting live interviews and creating videos at the fall conference, which will not only serve as testimonials for future events but also contribute to increased attendance, awareness, and sponsorship sales.
Growing non-dues revenue can not be looked at as solely as a transaction. Strategic collaborations, relationship-building, and a keen understanding of market trends can propel associations toward financial sustainability and unprecedented success when done right.
