In today’s rapidly changing world, many associations continue to prioritize improving non-dues revenue growth. Creating and implementing strategies to achieve new revenue streams can take time and energy for an association already burdened with daily demands. To ease this challenge, TriStar offers customized solutions, ensuring your revenue growth is in capable hands.
The latest Association Benchmarking Report by Naylor uncovers a significant shift, with generating non-dues revenue emerging as the primary concern for associations today. Over half of the associations surveyed find themselves grappling with understaffing and limited resources, hindering efforts to drive revenue from sources beyond membership fees.
To address these challenges and unlock untapped financial potential, a growing number of associations are turning to outsourcing solutions for their non-dues revenue needs. This paradigm shift opens doors to new opportunities, paving the way for strategic partnerships to reshape revenue streams and fuel growth. In this transformative landscape, I have seen how TriStar stands out as a trusted ally, offering our unparalleled expertise and support to propel healthcare associations toward financial success.
As Director of Business Development at TriStar, I prioritize working closely with our association partners, valuing their feedback and understanding their need for strategies that align with their specific goals. At TriStar, we offer most of our revenue-generating solutions through a royalty-share service using a ‘ready-to-use’ turnkey model. This model allows us to handle every aspect of a project from start to finish, providing the staffing support needed to ease your workload. By generating advertising revenue to cover production costs, we not only remove any financial risk for our association partners but also create an additional source of income.
This contractual structure assures that everything we do is purposeful and significantly monetized, always keeping the needs of our association partners at the forefront. In addition to the association, the other stakeholders’ needs are equally important to the overall strategy’s success. We use the attendee and member audience as our guiding force and the industry supporter value proposition as a high priority.
For example, we assist several association partners with creating and monetizing essential media channels and marketing content surrounding their annual meetings. Twenty-plus years ago, TriStar produced print daily newspapers onsite. Our news coverage has since evolved into a digital media platform, showcasing our adaptability and innovation, and has become integral to our association partner’s overall marketing strategy. This platform is a testament to our ability to evolve with the times and meet the changing needs of our partners.
After collaborating with the appropriate stakeholders, TriStar manages this association-owned platform with a defined purpose, content plan, and promotional strategy before, during, and after the event. The news websites serve as a content marketing arm to help attract, engage, and grow meeting interest while delivering robust advertising opportunities with the much-desired engagement and ROI for industry supporters.
One of TriStar’s core strengths is our ability to tailor highly customizable packages that resonate with your industry supporters. We understand stakeholders’ unique needs and preferences in the healthcare sector, allowing us to craft targeted solutions.
The marketing department often finds itself understaffed within associations, presenting a common bottleneck in revenue generation efforts. Entrusting your advertising sales to TriStar is not just a strategic move but a pragmatic financial decision. Our collaborative approach ensures that your marketing needs are met precisely and efficiently, empowering your association to thrive in a competitive landscape. TriStar provides the necessary people and processes, including experienced content creators, marketing strategists, event media strategists, and project managers, to fulfill the need and deliver a royalty check rather than an invoice to our association partners. It is a unique and appealing approach. We also work in other media channels, providing opportunities via hotel branding/door services and out-of-home marketing programs, all in a royalty-share capacity.
I always want to remind potential partners that our value proposition extends beyond advertising sales alone. TriStar offers a comprehensive suite of services, empowering critical functions such as exhibitor sales, sponsorship sales, editorial coverage, and more. By embracing this holistic approach, you can streamline your association’s operations, foster stronger partnerships, and ultimately drive sustainable revenue growth that does not rely solely on membership dues.
In the ever-evolving landscape of healthcare associations, the time is ripe for bold decisions and transformative partnerships. By joining forces with TriStar, your association can secure a competitive edge, unlock new revenue streams, and position itself for long-term success. Let us guide you in navigating the complex world of non-dues revenue generation as we work together toward a future of financial stability and growth.
TriStar is here to help. Let us know how we can help fulfill a need and create a new revenue stream for your association. We are committed to our partners and look forward to discussing how we can best serve YOU.
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