Does your company rely on membership-driven business?
Findings from recent Walker programs find common factors which distinguish Truly Loyal Members from those that are Not Truly Loyal. Specifically, in contrast to those respondents who are Not Loyal, Truly Loyal respondents…
- have positive perceptions of the balance between their membership fees and what they get.
- believe that the organization cares about their success.
-perceive that membership has a positive impact on their business performance.
- have positive interactions on key experiences, like- the membership renewal process, being given opportunities for networking and connecting with peers, and being made aware of events and offerings.
So what does this mean for your membership-driven company?
- Communicate to members all of the options that are available with their membership.
- Provide avenues for members to connect with each other. One study found that the odds of renewing membership increase by 171% for each increase in rating of how the membership facilitates connection between its members.
- Ensure that you highlight how the membership can have a positive impact on your member’s business. The more members perceive a positive impact of membership on their business, the more likely they are to renew their membership.
By focusing on the concepts mentioned above, you can work to increase member loyalty. What steps are you taking to meet the needs of your membership-driven customer base?
Amy Heleine and Becca Lewis