Event Income Details

The “Event Income Details” report in Reports module of Retention CRM helps Nonprofits, Associations and Chambers of Commerce analyze the financial performance of their events. It breaks down income by participant type (e.g., members, non-members, students), registration status (paid, unpaid, pending), and payment method (credit card, check, cash). This allows them to assess which attendee groups contribute the most revenue and identify areas for improvement.

General Functionality of “Event Income Details” report

Available Options and Fields:

These options are available for most Retention CRM reports and allow for customization:

• Report Title: A name for the report (e.g., “2024 Annual Conference Income Details”).
• Report Description: A brief explanation of the report’s purpose.
• Report Header/Footer: Add custom text to appear at the top or bottom of the report.
• Email Delivery Setting: Choose to email the report upon generation.
• Navigation Menu: Include the report in the main menu for easy access.
• Permission: Set access restrictions for different user roles within the association.
• Add to My Reports? Make the report private for your own use.
• Reserved Report? Protect the report from modification by most users.
• Available for Dashboard? Allow users to add the report to their personalized dashboard.

Using “Event Income Details” report in Association Management

Scenario: Utilizing the Report for a Nursing Association Event

Let’s say the “National Nurses Association” (NNA) holds a yearly conference. They use the “Event Income Details” report to analyze the income generated:

• Event Filter: Select the “2024 National Nursing Conference” event.
• Participant Type: See how much revenue came from member registrations vs. non-member registrations. This helps assess the value proposition of membership.
• Registration Status: Identify any pending registrations that require follow-up to maximize revenue collection.
• Payment Method: Analyze the popularity of different payment methods and consider offering new options if needed (e.g., online payments).

Insights and Action:

By analyzing the report, the NNA might discover that non-members contributed significantly to the conference income. This could lead them to:

• Develop targeted marketing campaigns to attract more non-members to future conferences.
• Offer special discounts or tiered pricing options to incentivize non-member registration.
• Analyze the demographics of non-member attendees to tailor future conference content to their interests.

More Use Cases for Chambers of Commerce, Associations and Nonprofits

Association Use Case: Optimizing Membership Value

An association of professional engineers could use the “Event Income Details” report to analyze income from their annual engineering symposium. By filtering by participant type (member vs non-member) and registration status (paid vs unpaid), they can see how much revenue came from members compared to non-members, and how many member registrations are pending payment. This helps them assess the value proposition of membership. If a significant portion of revenue comes from non-members, they could:

• Offer exclusive member discounts for events to incentivize membership.
• Develop targeted content or networking opportunities at events specifically for members.
• Analyze member vs non-member demographics to tailor future events to member interests.

Chamber of Commerce Use Case: Identifying Sponsorship Opportunities

A chamber of commerce could use the report to analyze income from their annual business expo. By filtering by payment method, they can see which payment methods sponsors prefer (e.g., credit card vs check). This helps them tailor sponsorship packages to include preferred payment options. Additionally, they can analyze income by participant type (businesses of different sizes) to see which attendee groups contribute the most revenue. This allows them to:

• Develop targeted sponsorship packages with benefits aligned to different business sizes.
• Offer premium sponsorships with increased visibility based on attendee demographics.
• Explore new sponsorship opportunities based on popular payment methods.

Non-Profit Use Case: Evaluating Fundraising Events

A non-profit organization could use the report to analyze income from their annual charity gala. By filtering by registration status, they can identify any pending registrations or unpaid pledges that require follow-up to maximize fundraising efforts. Additionally, they can analyze income by participant type (donors vs general attendees) to see which groups contribute the most. This helps them:

• Develop targeted outreach campaigns to encourage outstanding payments from registered attendees.
• Craft future fundraising events with experiences that resonate with high-value donor demographics.
• Analyze the popularity of different ticket price tiers to optimize future pricing strategies.

The “Event Income Details” report empowers Chambers of Commerce, Nonprofits and Associations to make informed decisions about their events, maximizing financial success and ultimately, supporting their mission of professional development for members, donors, volunteers and other stakeholders.