Future membership investment models
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Future membership investment models

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Future membership investment models Presentation Transcript

  • 1. THE FUTURE:MEMBERSHIP INVESTMENT MODELS 1
  • 2. about us Dowell Stute and Associate’s Mission:Driving business associations to be relevant, profitable, and innovative. 2
  • 3. our servicesWe provide business associationsservices in the following areas:> Full Association Management > Membership> Organizational Leadership > Research and Development> Back-Office > Marketing/Communications> Events > Public Affairs 3
  • 4. Membership Trends A MORE DEMANDING CUSTOMERMEMBERS AREN’T JOINING – TIME POVERTY THEY’RE BUYING! EXPECTATION OF ROI 4
  • 5. Why Chambers lose members> They are not involved, engaged, or connected – members perceive value whenthey are actively involved and engaged> They don’t know what the chamber offers>What they don’t understand, they don’t use – the assumption is that members canand will access information if they are interested, when in reality, most of them won’ttake the time to do so>Their expectations aren’t met 5
  • 6. (un) fair-share model> The traditional dues structure is usually based on the number of employees – thesescaled amounts match to a dues amount, which sometimes varies with the industry.PROBLEMS1. Benefits are the same regardless of investment2. If members can’t pay that amount, they’re out.3. Does not differentiate members4. A la carte purchasing requires multiple asks5. Punishes businesses for growing, incentivizes lying6. Difficult to explain what members are paying for or show ROI 6
  • 7. Membership principlesWhat do members want?> To feel welcome and a part of the organization> Their contribution and business is appreciated at any level> Customization (they get it everywhere else)> To get benefits without having to show up> Bottom-line benefits, ROI> Quality, not quantity 7
  • 8. So, what are the alternatives? > Tiered dues models > “Freemium” Memberships > Electronic Only Memberships >Multitier Memberships > A La Carte/ Fee for Service Memberships 8
  • 9. Tiered Dues> Membership tiers are packages of benefits atvarious prices which entice larger investments indues organizations.> Based on choice, benefits increase withinvestment Big Idea> Segments and differentiates membership> Simplified annual planning and purchasing Tiered dues are the most natural next step for> Easy to see what members receive for dues chambers seeking a> Requires more face time with members, change, and has proventechnology results. 9
  • 10. Tiered Dues
  • 11. Tiered Dues
  • 12. Freemium/Open Memberships> Membership does not require the payment ofdues> Can be tied to tiered dues as most limitedbenefit level, often for individuals only Big Idea> Pros: Leads to substantial membership growth(more people exposed to chamber) People love free stuff, and a free level of> Cons: People perceive there’s no value because membership can be anthere’s no cost to join excellent gateway to chamber activity 10
  • 13. Freemium/Open Memberships
  • 14. Freemium/Open Memberships
  • 15. Electronic Only Memberships> Membership restricted to web-basedresources and programming> Often offered to individuals, as well ascompanies Big Idea> Pros: New streams of revenue are added with Everyone is online, andincurring expenses (e.g., printing) people a low cost option allows them to be> Cons: Memberships provide limited access so involved and see whatthey generate less revenue their missing from full members. 11
  • 16. Electronic Only Memberships
  • 17. Multitier Memberships> Menu of membership options based oninterests, professional designation, budget> Pros: Members like being able to choosewhich options best suit their needs Big Idea> Cons: Requires the ability to manage multiple This is the ultimate nichebenefits for multiple audiences marketing, and people feel catered to. 12
  • 18. Multitier Memberships
  • 19. Multitier Memberships
  • 20. A La Carte / Pay for Service Memberships> Members only buy the services or programsthat fulfill their interests and needs (modestbase membership + add-ons, or add-ons only)> Pros: Members analyze how they want to usetheir membership, which leads to higher Big Ideaengagement Giving people exactly> Cons: Members may not value the add-ons or what they want echoesuse them , tracking benefits becomes more the way members aredifficult buying nearly everything else. 13
  • 21. A La Carte Memberships
  • 22. Dues for Special Memberships> Lifetime Membership: opportunity for members to never have to pay for dues again> Career Transition Membership: allow professionals to maintain memberships during atime of transition (retirement, job loss, or transitioning from college to career> Student Membership: offer a community where students go for resources or support>Trial Membership: Opt-in (initial promotion for specified amount of time), Forced Free(free membership for a period of time), No Obligation Trial (agree to be invoiced andcould cancel beforehand)>Multi-Year: Members receive a % discount for signing up and paying for multiple yearsin advance 8
  • 23. Changing Membership Changes Everyting No matter your strategy, the steps you must take : RESEARCH strategy create Promote & ImplementStudy your Take time to do it right. Don’t create a new Take the time tomembership, Altering membership system in a vacuum – explain your newconduct focus groups will effect all areas of be sure to test it system to prospectiveand surveys, don’t your organization. before members and existingassume you know implementation. ones.what members wantand need. 9
  • 24. get in touch Contact us(+651) 221-0850Larry@dowellstute.comwww.dowellstute.com 29