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Leading the Way in Revenue Generation Strategies for Museums

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Leading the Way in Revenue Generation Strategies for Museums

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Presentation given at the American Association of Museums (AAM) 2008 in Denver featuring alternative strategies in use in museums, important trends in revenue generation, social media statistics, recommended sites and resources.

Presentation given at the American Association of Museums (AAM) 2008 in Denver featuring alternative strategies in use in museums, important trends in revenue generation, social media statistics, recommended sites and resources.

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Leading the Way in Revenue Generation Strategies for Museums

  1. 1. Leading the Way in Revenue Generation Strategies for Museums Allyson Lazar Orinda Group, LLC 2008 AAM Conference Denver, CO
  2. 2. By 2004, nearly 71% of nonprofit revenue came from fees for goods or services and government grants and private contributions had fallen to 23.5% of revenue. Source: The Nonprofit Sector in Brief: Facts and Figures from the Nonprofit Almanac 2007 , The Urban Institute
  3. 3. Strategies Identified by the Orinda Group Survey <ul><li>Engage in Social Media </li></ul><ul><li>Enable Online Retail, Admissions, Giving and Membership Opportunities through the Museum Website </li></ul><ul><li>Participate on E-Philanthropy Websites </li></ul><ul><li>Consolidate, Professionalize and Streamline Business Units </li></ul><ul><li>Explore New Retail Opportunities </li></ul><ul><li>Pursue Creative Strategic Partnerships </li></ul><ul><li>Devise Targeted “Creative” Fundraisers that are Unique to the Institution, Community, Audience and/or Program Seeking Funding </li></ul><ul><li>Restructure Museum Support </li></ul><ul><li>Consider Unrelated Businesses </li></ul><ul><li>Step up to the Auction Block </li></ul><ul><li>Host Traveling Exhibitions </li></ul><ul><li>Open up the Museum to Night-time Exploration </li></ul><ul><li>Diversify Revenue Generation and Fundraising Strategies </li></ul>
  4. 4. Trends <ul><li>Metrics </li></ul><ul><li>Transparency </li></ul><ul><li>Social Entrepreneurs </li></ul><ul><ul><li>Return on Investment (ROI) </li></ul></ul><ul><ul><li>Deeper investment in fewer organizations </li></ul></ul><ul><li>E-Philanthropy / Use of technology and social media </li></ul>
  5. 8. Social Media Statistics <ul><li>Almost 300 museum profiles on Flickr </li></ul><ul><li>Nearly 7400 museum-related groups on Flickr </li></ul><ul><li>Over 100 YouTube channels dedicated to museums </li></ul><ul><li>Tens of thousands of museum-related videos on YouTube </li></ul><ul><li>Hundreds of museums on MySpace </li></ul><ul><li>Over 500 museum-related groups on FaceBook </li></ul>
  6. 9. Recommended Donation Sites for Museums <ul><li>Network for Good </li></ul><ul><li>Shop-to-Give Sites: </li></ul><ul><li>iGive </li></ul><ul><li>Good Shop </li></ul><ul><li>eBay’s Missionfish </li></ul><ul><li>Shop for Museums </li></ul><ul><li>Search-to-Give Sites: </li></ul><ul><li>Good Search </li></ul>
  7. 10. Electronic Resources and References <ul><li>2007 Orinda Group Museum Revenue Generation and Fundraising Study: </li></ul><ul><li>http://orindagroup.com/testing/MRGFS-electronic.pdf </li></ul><ul><li>Leading the Way for Revenue Generation Strategies in Museums presentation: </li></ul><ul><li>http://orindagroup.com/testing/leadingtheway.pdf </li></ul><ul><li>2007 Orinda Group Museum Revenue Generation Survey Results: </li></ul><ul><li>http://orindagroup.com/OGBlog/Museum_Revenue_Generation_Survey.pdf </li></ul>

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