If yours is like most organizations, the COVID-19 pandemic rattled the ways your association planned for revenue and delivered value to your members and sponsors. It was unavoidable.
As we saw our world turn upside down, we had multiple things to balance, all of which touch pricing and value:
- Cancellations of in-person events
- Stretching ourselves to move to virtual events
- Understanding the technology and educational formatting that would make sense and reduce Zoom fatigue
- Delivering to sponsors what we had already promised in this new environment
- Figuring out how to adjust new sponsor packages so they still receive value, even if differently
- Fear that we would lose members because of the greater economy losing strength and individuals losing their jobsWhether you had a strategy or not, this certainly was going to be a tough time for associations.
Yet some organizations were able to navigate the climate to the best of their abilities, and others suffered from confusion and knee-jerk reactions on how to deliver value and adjust pricing in the face of economic uncertainty.
What was the difference maker for these associations?
Having a pricing and value strategy.