We live in an age where the customer’s economic, social and regulatory environment is changing fast with an increasing feeling of urgency. And the pace of change is only accelerating. For their continued success, organisations need to keep up and consistently adapt their offering. How does that impact members and customers’ behaviours? What is the impact on revenue and engagement for an association?
Engagement is the new retention
For as long as associations have existed, member retention rate has been the most important metric to measure an organisation’s success. All efforts have been concentrated on retaining members, whether they would engage with the organisation or not.
Re-evaluate member ROI
Is membership shrinking? Do you know to what extent current benefits and services are relevant to your members and customers? Maybe it is time to re-evaluate member benefits and price. There will always be those members that do not engage, but more and more members want to see ROI on their financial investment. Reminding members of the various opportunities they can take advantage of is always a good start, but adapting the offer to a more segmented membership, based on their engagement levels, can have a significant impact on the association’s success.
New benefits for new customers
Organisations can evaluate their various engagement levels by running competitive analysis. A customer needs assessment including accessibility, price, perceived key messages, brand effectiveness, and regional/national relevance will help measure satisfaction per segment, and identify solutions to eliminate any gaps.
Read the full piece with more insights on how to assure relevance and sustainability in MCI’s owned publication for association news and global trends, FOCUS magazine. The article was authored by Jeroen van Liempd, Director Association Management & Consulting – MCI Benelux.
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