Pricing is the most important strategy that all associations need to deploy to ensure a better tomorrow for their organizations. There are risks in not methodically revisiting pricing and opportunities for future strength and resilience that may be missed. The biggest risks that should get the attention of all association leaders is that they are leaving money on the table for their organization and short-changing real value for their members.
Too many people think that a pricing strategy means "shaking down" your members for more money, and who wants to think about that? But nothing could be further from the truth. Repricing often means a win for members: more value and options to get more of what they care about, and better, more efficient revenue for the organization. Don't chase new non-dues revenue programs - optimize the revenue you have with a smart pricing strategy.
Learning objectives:
- Understand that good pricing starts with a clear, well-understood value proposition.
- Interpret the three T's: time, talent, treasure that make up the price that association members pay.
- Attain knowledge with respect to why basic discounting is risky in the long term and why it can undermine the value equation and erode brand equity.