Yes, you read that right...since 2006 our association has grown its net reserves 2,400%. This
hasn't been by chance, some new, innovative service, or great economic times. It has come from intentionally listening to members, a well-thought out value proposition and being obsessed with high quality member service and engagement.
Two key metrics I watch constantly are our member retention and member engagement. The performance of these two numbers have led the 2,400% growth with membership only rising 13% over the same time period.
Many associations today are trying new membership models based on their current model not working. Hear me on this. No new membership model will solve the issue if your association is not offering actual value to your member's highest pain points. Most struggling associations don't have a membership model problem, they have a value and engagement strategy problem.
While most associations are focused on constantly recruiting new members, we have put our focus on delivering amazing value and service to current members. Thus engaging them in the process or services, meetings, and volunteering at high levels. This engagement puts them in a mindset that they couldn't even think of dropping their membership.
The proof is in the numbers. Our member retention has averaged 96% the last 10 years, and we have consistently averaged 83% of members being engaged in one or more programs.
You see, many associations feel they are in the membership business...we take a different approach. We are in the business of pulling off miracles for our members so they can maximize their success as an individual or company. The days of being mission driven are gone. Members support your mission, but that is not what they buy. They BUY YOUR VALUE. The mission drives the industry...value drives your members.
Drive value to your members and the mission takes care of itself.
If you are not aware of it, we are in the early stages of the longest and largest economic boom in U.S. history. It will last through the late 2030's. The question is, are you preparing your members for it by providing high-value services that engage them in a way that locks them in emotionally to your association? Within the economic boom, every industry will still incur major challenges to competing, including:
- Market Disruption
- Labor Shortage
- Artificial Intelligence
- Emerging Technologies
- Changing Consumer Demands
- Rapid Pace of Change
These are just a few drivers of the future. Are your members ready for them? They will either be opportunities or challenges to your members and your association...depending on how seriously you take the rapid pace of change. I assure you that the pace of change is real, and it's only going to get faster.
You have a unique opportunity to seize the moment and help your members get in front of the rapid change coming their way. You can help to turn these potential challenges into high-value opportunities for the association and business opportunities for your members.
In 2019, as you start to prepare for the next decade, you should be building a strategy around the following three elements to engage the future for your members:
Deliver a high Actual Value Proposition that connects with your member's highest pain points.
Execute an Engagement Outreach Strategy that communicates your value.
Deliver High-touch / High-tech Customer Service with excellence.
Do these three things with excellence, and you will be well on your way to seeing your association on its way to 2,400% growth!