M3P – A New Revenue Generator for Associations

Written by on April 26, 2013 in Search Management Strategies - Comments Off
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For most associations, the primary source of revenue is the annual membership fee. As operational budgets increase, associations are under pressure to either increase the annual dues or find a way to boost their membership. However, the stark reality for many associations is that they are faced with steady decline in renewals as their membership tries to maximize the benefits that are gained from every dollar spent in this highly competitive and tough economic environment.

Of course, in order to retain and grow membership, associations need to continue finding new ways to provide member-enhancing, value adding services.

What if there was a way to provide member value while simultaneously creating a  revenue generation opportunity without increasing membership dues?

The answer is M3P (Member Product Promotion Platform).

 

M3P Brings Key Non-Dues Revenue

Simply put, a Member Product Promotion Platform is a powerful online Source Guide that is used to advertise and promote the products and brands of the members of the association. Members that would like more prominent placement on the M3P platform would pay the association for the service.

In a recent article titled Growing Associations Through Non-Dues Revenue, Alexandra Snelgrove and John Pepin provide a compelling discussion on the need for associations to think outside the box when looking for ideas to grow revenues. They state ” an organization that identifies creative ways to change its business model will often be rewarded with a significant impact on their bottom line”.

In a blog post on Improving Bottom Line With Non-Dues Revenue, blogger Chad Slager notes, “The aim (in developing non-dues revenue programs) is to create a portfolio of opportunities that delivers both a sound return on investment and increases your members’ enjoyment of your offerings.” M3P can be seen as a non-dues revenue program that delivers both a sound return on investment and increases member enjoyment of association offerings.

In an Association Advisor post titled Data Shows Non-Dues Revenue Key to Association Sustainability, the author explains that non-dues revenue has become increasingly important to associations over the past decade. Experts say technological and demographic factors – not just the economy – have been driving the upswing in associations’ non-dues revenue efforts. “The best non-dues revenue programs always reinforce the member value proposition,” the article reads.

 

How Associations Can Retain and Attract New Members with M3P

Associations can promote M3P as an additional value-added service for members. It showcases membership brands and services  and creates a new additional channel for driving customer traffic to the membership websites.

While many associations have membership directories online, these databases generally offer static content that is difficult to update and manage. M3P is a specialized search service platform that is continually and automatically updated by crawling member websites. This makes it an easy-to-manage solution for promoting the brands, products and services of an association’s membership base.

Association members can register for the search service, which is accessed through the association website, and see the benefits of increased brand promotion within their industry platform  and lead generation as a result of increased traffic to the member company websites.

 

M3P Helps Associations Generate New Revenue

Cloud Search Portal offers M3P service to associations at a deeply discounted wholesale price. This allows associations to offer a low cost listing rate to memberships, while still generating revenue through member administration fees.

 

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