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3 Ways an Online Community can Increase Your Revenue

By: Christian Britto 10 Nov 2016

Member Engagement is the buzzword when it comes to online communities for your organization. But the benefit of an online community goes beyond engagement, it can directly impact revenue for your association. Here's how:

1. Increased online engagement = Increased event attendance and product purchases

If your members are engaging online you not only know where they are, you also know what they are interested in. This gives you a prime opportunity to market your products and events to your members when they are already engaging with you and more likely to purchase. Plus, they are hearing from other members - not association staff - why they should attend your conference or continued education seminar.

2. Advertising Opportunities

If you can demonstrate an active and engaged community, you can sell your community. While traditionally this has been in the form of banner ads, we recommend enlisting industry partners to sponsor and/or write content that is compelling to your members. This is a much more meaningful partnership that also helps your members and continues the content engine that feeds your successful community.

3. Retention

Nothing ground-breaking here. More engaged members leads to less member attrition. An online community is becoming increasingly important in this realm as members expect a way to network and communicate with their industry peers in a digital format. If you don't provide it, they will seek it out elsewhere.

If you are struggling with seeing this impact from your online community, take a look at our eBook, "Making Online Communities Work in 2016". It's full of tips for ensuring you are providing a great experience for your members and taking full advantage of what an online community can offer.

 

 

Christian Britto

Written by Christian Britto

10 Nov 2016 in engagement, community, content

Christian is the Operations Manager at rasa.io

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