In an economy more driven by intellectual capital than ever before, executives actively seek information from multiple sources. Whether it be Greece’s Debt Crisis, market access concerns, or industries seeking new and more opportunistic markets, your members are “in the know” constantly. Is it more impactful to deploy an Association Loyalty Strategy or an Engagement Strategy?
Association executives still look for member “loyalty” and then measure it by retention rates. In today’s chaotic business environment, what does membership loyalty mean? When it comes to Associations, people value the things in which they personally participate in and have the ability share knowledge and drive business outcomes. They especially feel more “connected” to those groups who value and acknowledge their contributions.
Why do members leave? According to the 2014 Strategic Member Engagement Survey, Members leave when they perceive insufficient value, insufficient connection to their business/personal objectives, insufficient opportunity to have an impact, or they really don’t want a bundled package of offerings and only joined for a discount.
Associations can motivate member engagement by creating opportunities and “experiences” for members to contribute and feel valued for their knowledge sharing and contributions. This is something that members don’t necessarily find at for profit and not for profit competitors.
Your Association can accelerate member engagement if it:
- Is differentiated from services and the “experience” provided by other organizations.
- Creates numerous opportunities for members (especially key segments) to contribute and feel valued.
- Utilizes the 3 C’s, “Contribution, Collaboration, & Connectedness.”
Association Loyalty or Member Engagement Strategy?
A Strategic Member Engagement Strategy supported with member “Connectedness” drives your Association’s long term success. Organizations with upward trending 3-year operating results are far more likely to better understand member “up at night” issues and to engage members in acting upon those needs.