Associations can no longer rely only on traditional revenue sources such as dues and registrations, and must broaden their revenue base to meet increasing budgetary demands and spread the downside risk of uncertain markets. Revenue assessment is a key component of a business model development but is sufficiently critical and complex to require separate analysis and development, and it sometimes requires more frequent updating than the overall business plan. Bostrom’s revenue diversification support is multi-faceted.
- Identification and analysis of all association assets and opportunities to monetize the association’s intellectual property
- Analysis of the association’s historical revenue streams and cost structures to identify weaknesses to be addressed
- Critical assessment of pricing strategies to enhance revenue generation and market position
- Market analysis to identify unmet stakeholder needs and emerging trends in products and services that the association might be positioned to take advantage of.
“Bostrom has provided solid operational support to move our board to a more strategic level and their ability to bring new ideas and modern association management practices has increased engagement from our members.”Greg Carlson
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