Build a Membership Valuation Program
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The document discusses how to build a member valuation program to quantify the value an organization provides to its members. It provides tips on getting leadership buy-in, identifying data points to measure value, gathering data, processing the data using Excel functions, and using the results to enhance member communication and decision making. Key steps include getting leadership support, inventorying all value sources, collecting data, processing it using pivot tables and lookups, and maintaining the program annually. The goal is to demonstrate member value to increase retention and guide strategy.
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Build a Membership Valuation Program
- 1. Building a Membership Valuation Program - Define - Case Study - How To - Tips - Fun!
- 2. Before you Go Crazy Slides are on Slideshare here: https://www.slideshare.net/garrypolmateer
- 5. What is a member valuation program Is NOT a way to see how much your members spend. Jones Hardware spent $1875 with the association last year Is how you can share the value that your organization gives to a member, either financial or intangible. We Saved Jones Hardware $6790 in insurance premiums and also passed legislation lowering their administrative overhead.
- 6. Story Northeastern Retail Lumber Association
- 7. Observations of Implementation at NRLA ✖ Implemented before housing crash in 2008 ✖ Data helped target member communication during downturn ✖ Enhanced ability for board to make decisions ✖ Organization has continued to grow and thrive ✖ Offered many segmentation options
- 12. Lessons Learned ✖ Need to make it as easy as possible for staff to maintain ✖ Keep documentation up to date ✖ Continue to monitor value adds that should be included
- 13. Lofty Goal - How to Get From Here to There
- 14. Universal Truths ✖ Value > dues paid is a good thing ✖ Should be able to get and use this information with any AMS (or no) AMS ✖ These exercises can identify gaps in services and help with strategy for new offerings ✖ Ethical Rubric ✖ Data + Staff Knowledge = SUPERDATA
- 15. Implementation Steps 1 - Get Leadership Buy-In 2 - Identify Your Value 3 - Inventory all Data Points 4 - Gather Data 5 - ETL! (The Tech Stuff, Extract/Transform/Load) 6 - Market 7 - Maintain & Document *Bold = Annual Activity
- 16. Ideas on How to Use This Information - Buy In ✖ Dues Notices ✖ Email Marketing (Target high members, target low members) ✖ Board of Directors communications ✖ Decisionmaking for new programs ✖ Visibility in AMS ✖ Board/Committee Recruitment ✖ Geographical analysis (i.e. regions of low value) ✖ Demographic analysis (i.e. member classes of low value) ✖ Perception vs. Value Analysis (How member feels vs. amount of value)
- 17. Identifying Value Sources ✖ What does your website say? ✖ Discounted/Free publications ✖ Event Registration ✖ Trade Show Registration ✖ Trade Show Booth Space ✖ Legislative Agenda/Cost Savings ✖ Grants ✖ Insurance (Dividends) ✖ Endorsed Program Discounts ✖ Product Discount ✖ Surveys ✖ Subsidized Education ✖ Job Placement/Job Board ✖ Networking, Directories ✖ Contract Negotiations ✖ PR for members/job class
- 18. Required Excel Tricks Pivot Table VLOOKUP Concatenate
- 19. Data Gathering Distill Everything into Spreadsheets, each with 3 columns MemberID Value Text Value Amount 123 Saved $75 on events with member discount 75 124 Saved $295 on events with member discount 295
- 20. Processing Use VLOOKUP to merge all information into one spreadsheet with two columns per benefit. Member ID Events Text Events Value Magazine Text Magazine Value 123 Saved $75 on events with member discount 75 Saved $10 on the magazine 10 124 Saved $295 on events with member discount 295 Saved $100 on the magazine 100
- 21. Compile Use Concatenate to combine all the text into one cell ,and sum to combine all the value into one cell. Concenate(B2 & “, ” & B4 & “, ”...) Member ID Total Text Total Value 123 Saved $75 on events with member discount, Saved $10 on the magazine 85 124 Saved $295 on events with member discount, Saved $100 on the magazine 395
- 23. Load to AMS (If Applicable) From there, you can now load the data into your AMS if it allows you to create fields and you have your Primary key set already.
- 24. Think Ahead ✖ Negotiate Data Exchanges with Specific format with vendors in your contracts ✖ Make Member Value Calculation SOMEONE’S JOB ✖ Schedule/Plan each annual refresh
- 25. Q/A Contact Garry Polmateer Managing Parnter - Red Argyle LLC garry@redargyle.com Twitter: @darthgarry Linkedin: https://www.linkedin.com/in/garrypolmateer/