Ready or not, 2017 is just 16 days away! If revisiting your member retention strategy isn’t already at the top of your New Year’s Resolution list, it should be. Member retention is one of the easiest ways to drive recurring revenue, and when done right, will foster relationships that last a lifetime.
Your current members are an asset you literally can’t afford to ignore. Many associations focus on new member recruitment and forget to nurture the folks already engaged. In fact, a recent study revealed more than 20 percent of members have let their memberships lapse over the last year, with 19 percent citing “too little value” as the reason. Those numbers may not seem like a big deal, but when considered year-over-year, there’s an exponential impact. Think about how many members your association may be losing simply because you’ve let them fall by the wayside.
We’re constantly reiterating the importance of engaging members in meaningful ways and a well-defined journey map for member retention is an excellent place to start. After all, your current members, when given the right amount of TLC can become Super Members who help recruit new members, share their love of your association with peers, and ensure the legacy of your organization.
Robbie Kellman Baxter, leading association expert and author of the book, “The Membership Economy,” is offering to share her wealth of knowledge with us on Monday, December 19 at 2 p.m. ET during the webinar, “Countdown to 2017: Tips for Member Retention Into the New Year.”
Here is a brief overview of her top 10 tips, which are certainly applicable all year long:
10: Balance resources spent on retention and acquisition.
9: Focus on the “Forever Transaction.”
8: Don’t throw in “everything but the kitchen sink.” Keep your offering lean and focused.
7: Make sure the member is at the center of everything you do.
6: It’s customer success, not customer support.
5: Remember that the moment of transaction is finish line, not the starting line!
4: Don’t pick up the loudspeaker to build acquisition until you know that you have something people want to hear!
3: Use gamification to build the right behaviors while onboarding.
2: Invest in technology on a constant basis.
1: Build a culture of like-minded people that evolves over time but has the same DNA (culture).