The Digital Analytics Association has developed a scorecard that demonstrates to members the dollars-and-cents return on their dues investment.
How to hack it? Using an Excel template, the Digital Analytics Association found a better way to calculate each member’s ROI. DAA delivers an annual report to members, adding up benefits and usage to an exact dollar amount. “We like to call it their membership investment report,” says Executive Director Marilee Yorchak, CAE. “And it’s our way of walking the walk and talking the talk, because our members are all about data.” The membership team delivers the first scorecard at the three-month mark (for first-year organizational members) or nine-month mark (for corporate members).
Why does it work? Each report contains the member’s engagement score compared to an average engagement score, along with a cumulative value of member benefits used. The goal is to help members achieve a net-positive return.
What’s the bonus? The scoring serves as a reminder for members to engage and make use of benefits, and it helps DAA boost retention. The trick, Yorchak says, is to send the report in advance of renewal, so that the member can think and act on the data. “Often, they look at it, and they’re surprised at how easy it is to get a better value,” Yorchak says. “For us, it’s been an exercise in making sure our people are getting the benefits they need and that they’re using them.”