W348: Find Hidden Gems in Your Data & Discover New Revenue Opportunities
COURSE DESCRIPTION:
Membership and marketing association professionals are inundated with data everyday – from their AMS, their email marketing platform, their member community conversations, their event systems and the list goes on and on. Beneath data, however, lies hidden gems (aka insights) that can be monetized to bring in more revenue – as long as you know where to look and how to dig them out. During this learning lab, we’ll discuss ways associations can leverage their structured and unstructured data to come up with ideas for new revenue. We’ll discuss the top 3 areas you should analyze to find these opportunities, provide a framework for building a data monetization strategy, and share a case study about how one association’s hidden data insights led to monetizing intellectual property to bring in additional revenue.
LEARNING OBJECTIVES:
- Understand how analytics is a path to new revenue.
- Analyze your product sales, events and member segment data to find new revenue opportunities.
- Learn how to build and execute a successful data monetization strategy.
