Capturing Alternative Revenues

Strategic Lessons and Compendium of Tactics for Increasing Nontraditional Operating Revenue

Topics: Administration and Finance, Transportation and Parking, Auxiliary Enterprises, Space Utilization, Facilities and Operations, Revenue Enhancement, Alternative Revenues

Consolidating Conference Services

Large Public University’s Centralized Conference Management

As a third example of applying imperative #2, one large public university bundled all conference services into a single, centralized conference management office. The office now oversees not only conference space rentals, but also accompanying food and lodging. This single point-of-service model has significantly improved customer service and allowed the university to charge a premium. The conference management office also generates additional business for campus housing and dining.

Of course, one potential drawback of centralized conference management is stifling faculty entrepreneurialism. To incent faculty to continue launching and recruiting conferences to their campus, the university instituted a revenue and cost sharing plan. Conference management splits revenue from all conferences with the college of the sponsoring faculty. Additionally, conference management absorbs any losses in the first year of a new conference. This safety net helps new conferences get off the ground and encourages faculty and deans to pursue promising ideas, hopefully leading to future conference business.

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A Turnkey Home Schooling Solution

Imperative #3: Seek Out Stealth Advertising and Leasing Opportunities