Well, that only took 70 years.
ASAE recently released the final issue of their magazine, Associations Now. Magazines were the primary vehicle for association content up until about 20 years ago, but readership has been in steady decline for the last two decades. Millennials and younger people who are now joining associations, demand access to their content digitally, in bite-size pieces and preferably in video format. They want to be entertained by their content, but also engaged and inspired. Studies have shown that most people will spend less than 15 seconds reading before deciding to continue on a piece of content or not.
Like many associations, ASAE realizes the transition to digital is no longer just an option, but rather a necessity to compete for, and retain membership. Many are diving into the digital content pool with lots of video, posting it on YouTube and hoping that viewers will find their way to the association's website. But many don't realize that by posting content to social platforms, you risk your member’s attention being hijacked by your competitors who happen to place an ad conveniently as your video ends, not to mention the AI recommending other videos that can distract your member (or future member) attention.
What about monetization?
The loss of magazine revenue is significant and many associations are struggling to overcome it. Most are not maximizing the potential non-dues revenue of digital content. Which is a shame, because there are some incredible opportunities for associations to both engage digitally and monetize digitally. The pandemic was simply a glimpse into what is possible.
What is an association to do?
As you sunset your magazine and older event branding solutions, you will need to replace these with digital, measurable solutions. Your sponsors still need opportunities to inform, educate, and inspire your members all year long. Association TV® (from WorkerBee.TV) brings solutions that encompass both the unique “inventory” to monetize and the ability to assist your organization in creating a digital non-dues revenue program that will draw in sponsors, create revenue for your association and also create and support engaging content your members will enjoy.
A magazine had the innate ability to create curiosity as the reader turned the page to discover new content. Until recently, this was not easily duplicated in the digital world and users were often overwhelmed. Now, thanks to sophisticated platforms (like the ones offered by Association TV®) that integrate directly to your association website, you inspire organic curiosity by making it easy for your viewer to discover content and jump to the next relevant content piece based on what they’re consuming.
This way, you ensure that your content generates the required non-dues revenue by serving advertisements or sponsorship around free, gated or paid access content on your web portal for video, audio, and articles.
So much for the magazine era. Welcome to the video-zine era.
It was a nice run. But if associations are going to survive and thrive in this new cluttered digital era, they will need to embrace digital with solutions that mimic the best of magazines of old. These types of solutions are brand builders for your association that create member value and generate non-dues revenue while informing, educating and inspiring current and future members.
Let us show you how. Click here to schedule a meeting and kick-start a profitable digital non-dues revenue program for your association.