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MEMBERSHIP BENCHMARKING: WHAT DOES IT MEAN FOR THE FUTURE OF YOUR ASSOCIATION?
Linda S. Chreno, CAE, IOM
@lindachreno
#EdDay25
October 17, 2012
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LEARNING OBJECTIVES
Identify 3 strategies for engaging non-members to foster interest in an association
Learn 4 membership calculations
Create 2 strategies to increase awareness of your association Linda S. Chreno, CAE, IOM #EdDay25
2012 MGI Annual Membership Marketing Benchmarking Report
4th Year Produced by MGI
Over 690 Participating Associations
Up Front Disclaimero What not Whyo Correlation not
Prediction
How Does YOUR ASSOCIATION Stack Up Against Others?
WHAT DO YOU BELIEVE IS THE ONE TOP REASON MEMBERS JOIN?
Linda S. Chreno, CAE, IOM #EdDay25
REASONS MEMBERS JOIN ASSOCIATION 2012
(N = 684)
2011 (N
= 641)
2010
(N = 400)
2009 (N = 303)
Networking with others in the field 22% 25% 24% 22%Access to specialized and/or current information 12% 14% 13% 23%Advocacy 12% 10% 11% N/AContinuing education 8% 7% 11% 5%Learning best practices in their profession 7% 7% 9% 8%Accreditation or certification 5% 4% 4% 2%Discounts on products or meeting purchases 5% 5% 6% 9%Association publications 4% 3% 6% 3%Conferences/trade shows 4% 5% N/A N/APrestige of belonging to the association 4% 5% N/A N/AAccess to industry thought leaders 2% 1% N/A N/AAdvancing in their position 2% 2% 2% 4%Members-only education 2% N/A N/A N/AAccess to career resources 1% 1% 3% 1%Access to industry benchmark studies 1% 1% 1% N/AInsurance (Affinity programs) 1% 1% N/A N/ANot sure 1% 1% 2% N/AOther 6% 8% 9% 10%
Word of Mouth
Direct Mail
Personal sales calls
Individual Membershi
p Assoc.
Individual Membershi
p Assoc.
Organizational/ Trade
Assoc.
Organizational/ Trade
Assoc.
MOST EFFECTIVE MARKETING CHANNELS:
HIGHEST LEVELS OF ENGAGEMENT
Linda S. Chreno, CAE, IOM #EdDay25
• Attend annual show/meeting
Conference/Trade Show
• Attend at least one PD meeting
Professional Development
• Acquire or maintain certification through your organization
Certification
Linda S. Chreno, CAE, IOM #EdDay25
FIRST YEAR ENGAGEMENT PLAN
Goals
• Multi-Channel• Multi-Step• Evoke second
interaction
Sample Plan
• Orientation email
• Mailed product voucher
• Benefits survey• Courtesy call
RENEWAL RATE
Linda S. Chreno, CAE, IOM #EdDay25
Renewal Rate measures the number of members kept over a given period of time -- usually during a fiscal or calendar year. To renewal rate:
Renewal Rate = (Total Number of Members Today – new members in the past 12 months) / Total Number of Members in Previous Year
RESPONSE RATE
Response rate measures the number of prospects who responded to a marketing effort.
Response Rate = Total number of responses / Total number of prospects contacted X 100.
Linda S. Chreno, CAE, IOM #EdDay25
COST TO OBTAIN A MEMBER
The cost to obtain a member is the total costs you spend on acquisition divided by the total members acquired.
Cost to Obtain a Member = Acquisition Costs/Members Acquired
Linda S. Chreno, CAE, IOM #EdDay25
AVERAGE TENUREDefines how long on average
members stay with an association.
Average Tenure = 1/(reciprocal of renewal rate)
Reciprocal of Renewal Rate = 1 – renewal rate (also known as lapse rate) Linda S. Chreno, CAE, IOM #EdDay25
LIFETIME VALUE OF MEMBER (LTV)
Defines the economic value produced by a typical member.
LTV = (Annual Dues revenue per member + annual non-dues revenue per member) * Average Tenure
Linda S. Chreno, CAE, IOM #EdDay25
MAXIMUM ACQUISITION COST (MAC)Defines the theoretical maximum investment
that can be made to acquire a member or customer at a profit.
MAC = ((Avg. dues rev. per members + avg. non-due rev. per member) – (Incremental Servicing Costs + avg. cost of goods sold)) * Avg. Tenure
OR:
(Total revenue per member – total costs per member) * Avg. Tenure
Linda S. Chreno, CAE, IOM #EdDay25
Linda S. Chreno, CAE, IOM #EdDay25
BASIC ANNUAL MEMBERSHIP DUES BY RENEWAL RATE
Less than 80% 80% or Higher
Under $50 9% 3%$50 - $99 21% 7%$100 - $149 15% 6%$150 - $199 16% 10%$200 - $299 11% 13%$300 - $399 7% 10%$400 - $499 2% 6%$500 - $749 5% 7%$750 - $999 2% 3%$1,000 and over 3% 7%Varies by company size 9% 29%
WHICH SOCIAL MEDIA DOES YOUR ORGANIZATION OFFICIALLY USE?
Linda S. Chreno, CAE, IOM #EdDay25
Could select multiple categories
Acquisition
LinkedIn (Public access)
YouTube
Retention
Assoc. Social Network (Members only)
Association Listserv
Association Blog
LinkedIn (Members only)
SOCIAL MEDIA
Linda S. Chreno, CAE, IOM #EdDay25Linda S. Chreno, CAE, IOM #EdDay25
Linda S. Chreno, CAE, IOM #EdDay25
WHAT PERCENTAGE OF YOUR SOCIAL MEDIA CONTENT IS PUBLIC AND WHAT PERCENTAGE ISMEMBERS-ONLY?
Linda S. Chreno, CAE, IOM #EdDay25
Linda S. Chreno, CAE, IOM #EdDay25
Many, many social media seeking to engage members, potential members, as well as former members.
ENGAGED MEMBERS
UNENGAGED MEMBERS
VS.
What have you done for me lately?
I read your
magazine.
I blog about the
organization.
I Follow you on twitter.
I buy your books.
I attend your
conferences.
I donate to your
foundation.
Hello, I’m Jeremy.
I’m much more likely to become a member or
renew my membership or be an association
evangelist.
I’m much less likely to become
engaged.
Linda S. Chreno, CAE, IOM #EdDay25
MEMBER ACQUISITION
Successful membership growth depends on strong renewals but relies on successful acquisition.
Linda S. Chreno, CAE, IOM #EdDay25
AWARENESS …WHEN PROSPECTS FIRST DISCOVER YOU Awareness—recognition of the organization
by the segment or profession it serves. Member Acquisition uses a variety of
messaging formats and communications channels. AdvertisingDirect mailEmailWeb advertising
Linda S. Chreno, CAE, IOM #EdDay25
ACTION INCENTIVES WORKPrice discountsLimited quantitiesDiscount couponsBonus gifts for acting before a deadline
Money back guarantee
SELLING IS SIMPLEPromote the benefitsList the features - pair with the benefit
Identify your target audience
Reassure memberTALK to your members
Linda S. Chreno, CAE, IOM #EdDay25
SALES TOOLS TO INCLUDETestimonialsEndorsementsComparisonsReliabilitySpecific FactsRepetition
Linda S. Chreno, CAE, IOM #EdDay25
Keywords are ways that you are found by your members, customers, etc.
Best keywords must MATCH your unique value proposition with the words used by your members.
KEYWORDS
KEYWORDS CONTINUEDAll staff should be up-to-date with keywords being used - include in conference copy, etc.
http://semrush.com Competitors , Google keywords
Linda S. Chreno, CAE, IOM #EdDay25
continued growth as a social media platform;documented effective advertising outlet
ONLINE RESEARCH – SOCIAL MEDIA
Linda S. Chreno, CAE, IOM #EdDay25
ONLINE RESEARCH – SOCIAL MEDIA
offers the ability to target:
by industryby job titles by groups
which allows for finite slicing and dicing of your target audience
Linda S. Chreno, CAE, IOM #EdDay25
Recruitment Campaign
Online Behavior
1. Understand online behavior of association audience segments.
2. Utilize keyword and social monitoring tools to identify key topics and content within target audience.
Lead Gen Offers
FREE Whitepaper Offers an
excerpt of the latest industry research.
FREE Trial Membership Offers a 30-Day
FREE Trial Membership.
Online Media
Co-Registration Online News & PR Search Engine Ads Ad Networks Article Submissions Blogs & Forum Posts Social Media Ads Sponsored Links
LANDINGPAGE
21 3
4
5
Client Web Site
SEARCH ENGINE MARKETING
Linda S. Chreno, CAE, IOM #EdDay25
1 2
• Confirmation E-mail.
• Link to Download White Paper.
• Learn More Link.
3
Example: Lead Generation Cultivation Series
4
• Additional White Paper Offer.
• Why Others Have Joined.
• Click to Join Link.
• Free Video/Webcast Offer.
• Most Popular Benefits.
• Click to Join Link.
• Free Industry Report Offer.
• Member Testimonial.
• Click to Join Link.
Also be sure to market Conferences, Seminars and Books to your leads.
Linda S. Chreno, CAE, IOM #EdDay25
1 2Targeted Ad Placement. Data Capture on Microsite.
3
Cultivation e-mail campaign with additional content offers.
EXAMPLE – ONLINE LEAD GENERATION CAMPAIGN
Linda S. Chreno, CAE, IOM #EdDay25
4 MEMBERSHIP TRENDS YOU CANNOT MISS OUT ON
Linda S. Chreno, CAE, IOM #EdDay25
1. Video2. Mobile3. Social Media4. Content MarketingThanks to Melissa Harrison, XYZ University
Linda S. Chreno, CAE, IOM #EdDay25
• Engagement is key to retention. Retention trumps recruitment every day of the week. Outcomes are more important than outputs.
• Segmentation is key. You cannot send the exact same message out to all members or prospects.
Linda S. Chreno, CAE, IOM #EdDay25
• The power of Word of Mouth. There's no greater and more effective marketing tool than the referral and recommendation of a friend.
Linda S. Chreno, CAE, IOM #EdDay25
• Cultivate, cultivate, cultivate - connect your member with the service or program that uniquely meets his/her needs, the better you understand your member the better the relationship with be for them and for your organization.
Contact Information:
Linda S. Chreno, CAE, IOMCell: 510.316-5416Email: [email protected]: lindachreno
Linda S. Chreno, CAE, IOM #EdDay25