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PIns Leaders Roundtable presentation - Evolving membership management


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PIns Leaders Roundtable presentation - Evolving membership management

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PIns Leaders Roundtable presentation - Evolving membership management

  1. 1. BEN HUM C H A P T E R P R E S I D E N T C H A I R M A N | N A A A P P R E S I D E N T S ’ C O U N C I L N O R T H A M E R I C A N A S S O C I A T I O N O F A S I A N P R O F E S S I O N A L S ( T O R O N T O C H A P T E R ) A C A N A D I A N C H A P T E R O F T H E N A T I O N A L A S S O C I A T I O N O F A S I A N A M E R I C A N P R O F E S S I O N A L S Evolving Membership Management
  2. 2. Top Challenges 1. Communication and Information  Contact information not up to date  Poor communication to members  Inadequate collateral material (online, digital and hardcopy) 2. Networking  Lack of interaction with other members  Not being proactive in seeking support to themselves and building their networks 3. Capacity Development Administration and databases. Retaining members. Participation and adding value to our members. Being able to fulfill association objectives 4. Engagement of members (i.e. at events, response to emails etc.)  Lack of enthusiasm from members  Understanding the culture  Taking full advantage of membership benefits
  3. 3. Membership Program Wish List
  4. 4. Fostering Success Factors  Have you performed a gap analysis of the membership process and operations?  When was the last time a member survey was conducted for your organization and are you asking the right questions?  Does each team leader embrace themselves as a membership spokesperson? Your members are your customers and your membership experience is your loyalty program
  5. 5. Success Factors  Develop a member persona (s).  Identify your membership value proposition  Create stakeholder opportunities so members have reasons to be engaged  Evolve from a member benefit framework to one of member experiences  Thread membership into other organizational committees. Membership should not operate as an isolated silo
  6. 6. Membership Value Cycle Membership Acquisition Membership Retention Membership Renewal
  7. 7. Membership Metrics Determining the Lifetime Value of Members How Much to Budget for Retention and Recruitment?  What is the economic benefit to our Chapter if a member renews for 10 consecutive years?  What is the cost of recruiting a new member and how much are we willing to spend?  What’s the average length of membership in our association? These are important questions when developing a budget and campaign for retaining and enrolling members. Use these formulas to determine the Lifetime Value of a Member: Retention Formula - How many members are you likely to retain each year? # of Renewals % Retention = ----------------------- X 100 # Eligible to Renew For example, 920 of 1,000 members renew, the retention rate is 92%. Loss Formula - The adverse of retention: How many members are likely to drop out this year? # of Dropped Members % Loss = ----------------------------- X 100 # Eligible to Renew For example, 80 members drop out from an eligible renewal base of 1,000, the loss rate is 8%.
  8. 8. Membership Metrics Turnover Rate - This is a key to the formula for determining lifetime value. The turnover rate is time in which the entire membership will disappear at the "loss rate" and no new members. 100 Turnover Rate (years) = -------------- Loss Rate Thus, with a 8% loss rate per year, it would take about 12.5 years to wipe out the membership base. Cost of Serving Members - A high level simplified formula to determine the cost per member is to divide the number of members by the total expenses. # of Members Average Cost = -------------------- Total Expenses For example, if there were $350,000 in expenses per year, and a membership of 1,000 members, the cost to service a member is $350 each. (It may be practical to remove some expense line items, such as special events and scholarships, if they are part of independent programs.)
  9. 9. Membership Metrics Cost of Enrolling Members Few associations know how much money to budget for getting new members each year. What should you plan to spend on printing, mailing, calls and staff time, for instance? The premise is that if you know the lifetime value of a member, you are willing to focus additional energy and funds on membership development. There is a formula for determining the cost of enrolling members. Enrollment Cost = Lifetime Value minus (Avg. Cost Serving a Member x Turnover Rate) Thus, in our example, the lifetime value of a member is $6,562.50. It should be subtracted from the cost of serving a member over the 12.5 year period of membership ($350 x 12.5 = $4,200) to determine the "profit" for enrolling the member. In this case, enrolling a new member who is likely to remain in the association for 12.5 years, the profit is $2,362.50. Naturally, the influences on quality of services impact duration of membership. With a strategy, a Chapter may be able to reduce the costs of serving a member, or increase the non-dues income per member – thus improving the profitability per member. Knowing the lifetime value of a member allows the association to realistically determine how much should be spent in a membership campaign to enroll new member. Note: Apply this set of formulas for estimating budgets to use as a guide. For member driven associations, this financial perspective adds a powerful strategy for a membership committee to create a budget for retention and recruitment.
  10. 10. Creating WOW Member Experiences (Examples of Programs at NAAAPTO)  NAAAP Member Showcase Table at events  NAAAP Success Moments (share your stories)  NAAAP Event Host Program, NAAAP Networking Builder Tools, Post Event Photo Gallery  NAAAP Toronto Chapter Year in Review  Invite and encourage contribution to NAAAP AList Magazine  Collaboration with 18 different community partners for a broad range and diversity of events  Engaging and collaboration with corporate ERGs  NAAAP Members can joined 14 different operational committees
  11. 11. Creating WOW Member Experiences  No charge or reduced fee access to NAAAP Toronto Signature (Networking & Workshop) Events,  Exclusive NAAAP Member rates to special events, sponsored events and NAAAP National and other Chapter events in the United States and Canada,  Advance notification and invitations to upcoming events, programs and special offers,  Exclusive invitations and access to events and programs only for NAAAP Members,  Access leadership development Webinars, mentorship program and community partner events,  Access the NAAAP Online Career Centre exclusive to members,  A monthly eNewsletter subscription keeps you connected to current news and events in the community,  North American Wide Membership - Membership is recognized at all NAAAP Chapters throughout the United States and Canada.
  12. 12. Creating WOW Member Experiences  Digital Membership Cards  Members Reward Points System  CRM Management System  Member accounts with activity history
  13. 13. Membership Operational Tools 1. Email Marketing i. (Email Marketing) * Easy to use web-based service. Good templates ii. (Email Marketing) • 12,000 emails per month • 2,000 subscribers • Price: Free * Good to use as an SMTP service for computer based email marketing software iii. (Email Marketing) • Unlimited emails per month • 0 - 1,000 subscribers • Price: Free Unlimited emails per month 0 - 1,000 subscribers Price: Free Unlimited emails per month 1,001 - 5,000 subscribers Price: $10.00 per month ($84/year if paid annually)
  14. 14. Membership Operational Tools Stock Photos/Videos (Royalty Free) for branding and marketing ($99 US per year for unlimited downloads) ($99 US per year for 200 image downloads) (Free stock video footage) (Free stock video footage) (Free stock video footage) ($149 US per year for unlimited downloads) Membership Management Systems Wordpress Plugin: WP-AMMS
  15. 15. Membership Operational Tools Online Payment providers
  16. 16. Questions? Thank you!