The membership renewal process is much more than just billing or invoicing. Use the tools from this week’s association hustle podcast to consistently retain members.
Hello and welcome to JP Moery’s Association Hustle Podcast. President of The Moery Company, JP’s mission is to arm today’s associations with insight and strategy to thrive and a progressively complex and competitive business landscape. 21st century associations must move forward with a little bit of hustle and revenue development at their core.
47% of associations are declining in membership right now, and that’s the highest percentage since 2010.
Renewal rates, however, remained strong at about 90%. But almost 40% of all associations report, a decrease in their retention numbers as well.
In the area of membership development, I think one of the things we can do is pay a lot of attention right now on renewals:
#1: I think we need to utilize people. We need to utilize chairman, staff members, and members of our industry that might compel others to renew their membership early. Many organizations are quite limited in their renewal process. Networking!
#2: Can you demonstrate a signature membership benefit or service? Either through a webinar, an infographic, your advocacy program, or send out some compelling research that you’ve just completed.
#3: Take your renewal process that you have today, and examine the communication strategy It’s really much more than a billing or an invoicing process. Can we make it a specific initiative that can get people fired up?
#4: I’m encouraged seeing growth officers being named to associations and senior staff. This is a great time of the year to interview all your sponsors, and see what they want for next year. Change the sponsorship program if you need to meet their needs and help them achieve their business objectives.
#5: Right now, members want more people to hire. They’re looking for a diversified pool of not only entry level folks, but executives as well. They want tools so they can recruit better.
We hope you enjoyed this edition of JP Moery’s Association Hustle Podcast. We’d love to connect with you. Check out our blog at moerycompany.com and subscribe to our weekly newsletter. You can also connect with JP on LinkedIn and Twitter at @JPMoery, as well as The Moery’s Company’s Instagram and Facebook page.
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