Sheri Jacobs, FASAE, CAE, talks about smart pricing strategies.
Whether professional or trade, membership pricing structure is critical to the success of an association. In the November/December edition of Associations Now, the feature article examines the importance of a smart pricing strategy.
Avenue M President and CEO, Sheri Jacobs, FASAE, CAE, shares insight based on her experience helping to develop new membership and financial models for over a hundred organizations, including Destinations International (DI) – the association featured in the cover story. Sheri and the Avenue M team’s work with DI led the organization to modifying their existing model to a more consistent pricing structure, while adding more value for members. The model restructuring in 2018 led to both substantial growth and revenue goals being met ahead of schedule.
In the article, a main point that Sheri makes is the importance of having all departments within an organization communicate with one another to ensure a unified approach to growing membership numbers and revenue. Associations should reevaluate pricing strategy on a regular basis so that they do not reach a point of crisis with declining membership, and consequently, revenue.
To read the article, click here.
(Image: Adobe Stock)