In last week's post, we looked at why membership surveys are important, and the basic demographic and personal information you need to understand who your members are. The key to retaining your members - and attracting new ones - is knowing what they need and value, how you can fill those needs, and what they think of your organization.
Once you have some data to paint a good picture, you can begin adapting your strategies so that you're relevant and providing better value. That's ultimately the deciding factor in whether your members stay or go.
Here we look at the kinds of questions you'll need to ask to collect this vital data ...
Knowing how much revenue you are generating through each member can help you prioritize where to devote your efforts. Some experts are now suggesting that perceived value on investment is an even stronger motivator than actual return on investment for members to join and renew. Perceived value is what people are willing to spend on a particular product or service.
Comparing what members are spending with their perceived value of the benefits can help you identify potential barriers to retention. It can also give you clues as to how your benefits could be packaged differently to provide your members with more value for money.
When you analyze perceived value in conjunction with your members’ challenges, you’ll be able to determine how well you’re delivering your value promise.
Your association exists to meet your members’ needs. Staying ahead of the curve and leading the charge on new information and industry trends is an important feature of many associations. For this reason, it is crucial not to become one of those associations that offer the same exact services year after year.
Could it be possible that your services are designed to meet challenges that are no longer relevant or not as valued? Your survey can help you find out.
Perceived value is the fundamental driver of membership, and different members value different things. If you consider your organization to be a leader in your industry, you should find out whether your members agree.