Recently, our team had the opportunity to present alongside Kris Kellogg, Chief Revenue Officer at the Charlotte Regional Business Alliance, about revenue models and tech strategies at the Association of Chamber of Commerce Executives Future of Chambers Summit.
We wanted to share some key takeaways with you along with the recorded video for you to watch the 45-minute discussion on a topic that’s raising a lot of questions throughout the Chamber world.
Top highlights from the discussion:
The COVID-19 pandemic has exposed flaws and is accelerating whatever model your Chamber is in. It’s showing the good and the bad model, and Chambers are starting to shed what’s no longer important. However, this is a good opportunity for Chambers that are looking at a new model or changes to their old model.
There is a challenge to connect revenue to mission in this new environment. You might be thinking that this is not the time to make investments in marketing or technology because you’re not making as much money now, but you will be very soon. You must reprioritize your resources and invest in those things that will carry you into the future. With less staff resources and the challenge of engaging more potential investors, the business community at large – technology is the only way to streamline this process.
Disjointed data is your Chamber’s enemy. A year from now, you will have done all these webinars and virtual events, but if you’re using software like Salesforce, Wordpress website, Mailchimp or Eventbrite, you won’t be able to use all of that data. You need to remove the data silos. Your Chamber needs to accumulate investor/prospect data to grow, and you can’t do that properly if you are working with 100 different spreadsheets and multiple types of software. Chambers need their website, app, membership data, and CRM to grow revenue and better steward investment.
If you have questions about anything discussed in this presentation about revenue models or technology for your Chamber of Commerce, please reach out to us and someone from our team will get in contact with you.