By Kathryn Deen, PAR

It’s time for associations to move from transactional revenue models to ecosystem-based value creation. In fact, it’s the most important shift associations can make today, says Teri Carden, COO of Insight Guide, an impact-driven software company founded in 2022.

“I'm talking about shifting the mindset from ‘What can my association sell to my members?’ to ‘How can my association create value exchanges across the entire industry?’” Carden tells PAR.

As a leader at Insight Guide, she would know. The private company’s software-as-a-service platform engages association members with industry suppliers while generating a new stream of non-dues revenue for associations. “Think Yelp or TripAdvisor but very, very niche and a place where buyers and suppliers can come together all year long,” Carden adds.

For associations, building ecosystems is especially important today because industries are evolving faster than traditional revenue models can keep up. “Dues alone can't sustain the level of innovation, research, and programming that members and the consumer market expect,” Carden says.

Carden sat down with PAR to share how associations can build their ecosystems and thrive.

“Associations sit at the center of a very powerful network,” Carden explains.

Beyond members, associations have suppliers, consultants, technology providers, educators, regulators, and thought leaders. Instead of monetizing strictly at events or through ads, associations can build platforms and programs that connect these groups in mutually beneficial ways.

“You can help members discover solutions, help suppliers demonstrate expertise, and help the entire industry collaborate more effectively,” Carden says. “When associations really grasp how important their role is in being the glue, they can facilitate these connections really meaningfully, and then revenue becomes a byproduct of value rather than the starting point. Healthy association revenue creates healthier industries — that's the ticket.”

It’s a domino effect that benefits an industry’s entire ecosystem. “Members can make smarter buying decisions, suppliers can gain meaningful access to the buyer market in real time, and the association can then take that revenue and invest it more deeply in things that they're already trying to do, like education, advocacy, research, and innovation,” Carden adds. “All of that moves the association forward.”

It’s about creating multiple touchpoints and year-round engagement opportunities. Through smart digital marketplaces like those Insight Guide creates, suppliers can continuously showcase their products and solutions, galleries of work, thought leadership pieces, and connect with members.

“When the ability to do more comes with a subscription plan that creates new revenue for the association while also making it significantly easier for members to find trusted partners and resources in their field, this creates a connected industry ecosystem where members can gain more access to better solutions and make smarter buying decisions, suppliers can generate more qualified opportunities, and then the association becomes the central hub for innovation and collaboration between these areas within the industry,” Carden says.

Associations that embrace this shift won’t just stay relevant — they’ll lead the future of their industries.