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Preparing for the Post-COVID World
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As we are all aware, organizations that rely on in-person visitors, registrations and reservations have suffered substantial revenue loss due to coronavirus. With multiple highly effective vaccines on the horizon, Dr. Moncef Slaoui, chief scientific adviser for the Operation Warp Speed, predicts that vaccines will be widely available in late spring 2021.
As a result, admission-based and youth-serving nonprofits can now cautiously plan for a return to normal operations by next summer. Programs for young people are likely to bounce back quickly—our data from the 2007-2009 Great Recession indicates that despite economic conditions, youth programs—including after-school programs, weekend programs and summer camps—didn’t suffer significant revenue loss.
The end of COVID-era restrictions will likely unleash an unprecedented pent-up demand for quality youth programs. To regain revenue as quickly as possible, we recommend that nonprofits start planning for the following likely trends.
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Offer Early Registration Options for Summer Programs
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Because the CDC and other leading experts predict an end to the pandemic, parents are more likely to be willing to commit to summer programs and dates. Every organization in every region has been affected by COVID, and all of them will be competing to enroll as many young people as possible. For these reasons, we recommend that you schedule and begin promoting your summer programs now. As an incentive for early registration, offer discount pricing. To reassure parents who are cautious about registering before the pandemic ends, offer a clear and generous refund policy.
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Make Up for Lost Learning
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After a year of educational disruption, families will look for programs that provide formal and informal learning opportunities to help bridge the gap. Programs that include an educational component are likely to thrive in 2021. Deliver after-school and weekend programs that begin the year online and shift to on-site as soon as it is safe to do so.
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To take advantage of the holiday season, consider the following revenue-generating ideas:
- #GivingTuesday is over, but year-end giving has just begun. Many nonprofits have been successful creating and promoting their own dedicated giving day, promoted on as many social media channels as possible.
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- Memberships are a great gift option. Incentivize sales with holiday discounts, extra months and a suite of members-only programs or priority registration options.
- Gift cards remain a popular holiday gift. Discounted pricing may tempt value-conscious shoppers to purchase them not only as gifts but for their own future use! (For more information about Doubleknot gift cards, check out the recent webinar.)
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VIDEO: Boost Year-End Revenue with Holiday Gift Card Sales
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As the holiday season approaches, gift cards are an excellent way for your community to show their support and give a great present to family and friends. Gift cards can be applied to any Doubleknot purchase, including camps, classes, admissions, events, reservations, memberships, merchandise and more, and you can customize the gift card template with your organization’s year-end messaging.
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Doubleknot gift cards are easy to set up, and after a one-time credit card processing fee when the gift card is purchased, no other fees are applied so recipients can spend the card’s full face value. To further encourage gift card sales, you can configure discounts on the sale price (like “Get a $50 gift card for only $40) to make them even more attractive to value-conscious holiday shoppers.
To learn more about Doubleknot gift cards, watch our recent webinar video or contact us at Support@doubleknot.com.
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Best wishes for a joyous holiday season!
The Spotlight newsletter will return in January, 2021
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