6 Ways to Boost Your Association’s Revenue
You might already know the importance of an online career center for providing member value. According to the Community Brands Member Engagement and Loyalty Study, job opportunities are tied for the number one reason people join a professional membership organization. Seventy-three percent of members say help with career advancement is an important member benefit.
But did you know your association’s online job board or career center provides more than just great member value? It can also be a powerful tool for generating non-dues revenue for your organization.
Non-dues revenue is essential to helping associations develop and deliver better services, expand resources, engage talented staff, and promote memberships. As you work to attract this revenue from employers, be sure to maintain some focus on member benefits — your organization’s strategy should continue to provide value for members to retain and attract them.
When employers need to fill jobs that require specific skills and industry knowledge, they need to promote their jobs to members of professional and trade associations. Your online career center can help.
Boost Your Association’s Revenue With YM Careers
YM Careers helps you provide a stream of qualified candidates for your industry by allowing employers to market their job openings to your members. With tools for posting and promoting jobs, plus screening and managing candidate applications, YM Careers lets employers tap into your pool of highly qualified members to fill open job opportunities.
How to Boost Revenue by Helping Employers Connect to Talent
- Job Postings and Distribution – Employers can pay a fee to easily post job opportunities and distribute them to the right audience based on skills, certifications, geography, and more. Our sophisticated sales process and team showcases your job board to every employer who needs you, maximizing your revenue.
- High ROI Employer Products – Hiring managers can take advantage of additional paid options, such as job emails and promotions on your association’s social media feeds, that maximize exposure of their job postings and improve their return on investment. We make sure employers understand why your career center is a valuable channel and how its unique set of products provides them with access to candidates they can’t reach through any other recruitment channel.
- Candidate Screening and Management – Employers have the functionality to attract, screen, and manage applicants. We find every employer with open positions that are a good fit for your members and drive them to use your job board to access talent.
If your organization is facing challenges in retaining revenue and you need to think "outside the box" to diversify your revenue streams, watch this on-demand for this strategy session.
Generating New Revenue Streams
Whenever you’re considering new ideas for non-dues revenue generation, it’s worth revisiting the fundamentals of marketing and reviewing the five P’s — product, placement, pricing, promotion, and people. You must ask yourself questions like:
- Product: What benefits does your idea bring to the table? How is it different than what’s already available? How can you make it better?
- Placement: How will employers, members, and prospective members access your product or program? How can you outfit it for optimal user-friendliness?
- Pricing: What fee structure will you use? Will it be tiered? Which features will be free for members and which will require an upgrade fee?
- Promotion: How will you let interested parties know about your product or program? How will it integrate with existing strategies for cross-promotional opportunities?
- People: Who will you involve to execute your idea? Will you need help from outside experts, or do you have the skills to support your efforts in-house?
Once you have these tools in place, here are three ways to grow non-dues revenue:
1. Offer employers the opportunity to promote their jobs on your home page, your Twitter feed, and Facebook page.
Employers have no better way to promote their jobs to such a targeted group of qualified potential employees, and they will pay for that access.
In addition to attracting higher-quality talent, the benefits for employers using this approach include:
- More visibility: The sheer number of social media users across various platforms provides the potential to reach more people.
- Lower hiring costs: Using social media as a talent acquisition tool incurs lower costs than more traditional recruiting methods.
- Better brand awareness: Regularly posting vacancies and engaging with prospective candidates allows employers to build recognition and credibility.
- A reduced hiring cycle: Because your followers are primarily those engaged with your organization, employers are effectively targeting highly qualified personnel whose industry background is easily verifiable. Less time screening shortens the duration of the hiring process.
2. Introduce a job email to your members.
Employers are often willing to pay extra for this distribution of their jobs to additional potential candidates.
For hiring organizations, this method is a cost-effective means of getting vacancies in front of qualified candidates who may not have the patience to scour every available job board on a regular basis. Job emails offer value for your members as well — with regular communication, they’re able to take advantage of opportunities as they arise. Securing the opt-in from members first results in potentially higher opening rates to increase visibility for employers to offset the fees.
An additional benefit of job emails is the capability to highlight a specific employer or posting with a fee upgrade.
3. Include a job feed or widget in your member and prospective member e-newsletters with recently posted jobs that sponsors have paid extra to promote.
A real-time job feed ensures employment openings are up to date, and subscribers can take advantage of opportunities quickly. These feeds are dynamic and easy for employers to update and send to multiple destinations. Thanks to the automated nature of job feeds, employers save time and money in their recruiting efforts.
Widgets help simplify recruiting for employers by adding an interactive element that makes a candidate application easy. They can also be valuable for establishing credibility, such as using a recognizable logo that correlates with positive brand perception. Newsletter subscribers also benefit because widgets increase engagement while conveying essential information to the reader.
It might just become one of the most viewed/clicked-upon sections of your newsletter.
Take Your Career Center to the Next Level
With the right career center solutions, you can serve your industry and deliver member value while driving non-dues revenue. YM Careers is your ideal technology partner for taking your career center to the next level. Our job board and career center software has helped increase member acquisition and retention and provide revenue streams for thousands of associations. Schedule your free demo or contact a YM Careers representative online to learn more about how we can support your success.