Chambers of Commerce are all about business, but it’s easy to forget a Chamber is a business, too. You need marketing. You need management. And, maybe most of all, you need to raise Chamber of Commerce revenue.
Traditionally, Chambers have relied on members’ dues, but—like any other business that needs to adapt to changing times—today’s Chamber of Commerce creates alternative revenue streams to fuel its essential services. In fact, according to a 2012 survey by the American Chamber of Commerce Executives, fully 44% of chambers’ revenues come from sources other than dues. The primary non-dues revenue streams were:
- Events (15%). From wine-tastings to 5K runs, networking meetings to management seminars, chambers find creative ways to add revenue while serving their communities.
- Economic Development (8%). Contracts with local or regional governments and capital campaigns with larger members fortify many chambers’ treasuries.
- Affinity Programs (5%). A proven win-win, loyalty programs with members fulfill two major goals—generating chamber revenues and promoting local businesses.
Chris Mead leads the discussion about non-dues, Chamber of Commerce revenue.
Non-dues revenue is a hot topic with chambers these days. Many of us are looking forward to the Georgia Association of Chamber of Commerce Executives Annual Conference, July 16-19 at the Lake Lanier Islands resort—and not just for the gorgeous beach weather.
Chris Mead, ACCE Senior VP of Member & Sponsor Relations, will lead a session called “Chamber Revenue and You,” discussing the results of the 2012 operations survey and helping members compare results relative to their community’s needs. It should be a great session—Chris is a dynamic speaker, and frequently the “go-to” guy when mainstream media (like The Wall Street Journal) want insight into Chambers of Commerce.
We believe he’ll address advertising as a relatively untapped resource for non-dues revenue streams. (Even chamber professionals who downplay the pursuit of non-dues revenue advocate advertising sales as a revenue stream that’s also valuable to members.) According to the survey, just 3% of revenue derives from advertising, but the BrokerSavant Property Index gives chambers a way to boost that figure while raising the visibility and economic potential of their entire community.
What’s a Commercial Property Index? And why would a Chamber want one?
New businesses drive local growth. And, quite simply, showcasing local properties on your website is the best way to attract new businesses to your area. After all, the first thing a growing or relocating business needs is space—and 97% of site selectors start their search online.
So if you’re not listing commercial real estate on your website, you should.
And the BrokerSavant Commercial Property Index is the easiest, most searchable, most comprehensive and most cost-effective way to do it.
The patent-pending technology integrates seamlessly with your website, and its streamlined, data-rich interface puts all the information site selectors need one mouse-click away. All you have to do is upload flyers of commercial real estate listings from brokers in your area—or let them do it—and the Property Index does the rest.
But the Property Index isn’t just a magnet for site-selectors—it’s a revenue source for you. Activate a rotating sponsor bar at the top of your index, and the advertising you sell can more than cover the costs of the Property Index.
Looking for new revenue? Don’t raise dues! Talk to BrokerSavant about integrating a Commercial Property Index with your website. Your members—and your community—will thank you for it.