Member retention: it’s always on our minds. In 2019, how do you plan to get your members to stick around? When people face so many competing demands for time, attention, and money, this question is bigger than ever.
The Membership Marketing Benchmark Report asked associations why they think members don’t renew. The two biggest reasons they mentioned, after “lack of engagement” (37%) were:
- Members could not justify membership costs with any significant ROI (28%)
- Members thought their membership lacked value (23%)
If you’re wondering how to attack the retention question this year, these stats are a pretty good indicator of where you should start.
We talked about engagement pretty extensively in another post, so, I want to get into this idea of value.
These stats are really about how your members perceive the value of their membership with your association. You could be offering what you think are the best membership benefits in the world, but if these benefits aren’t what your members are looking for, they won’t value them. Furthermore, they may not be willing to pay up when it comes time to renew their membership.
So, how can we bridge this divide between what you’re offering, and your members’ expectations?
We need to take a member-first approach, and we’ll get there through: 1) research, 2) refinement, and 3) follow through.