Key takeaways as to why members decide not to renew.
There were several positive signs for membership growth last year, but that probably won’t stop you from harping on your lapsed member numbers.
While Community Brands’ 2017 Member Loyalty Study showed that 74 percent of members plan to renew their membership, 14 percent said they cancelled or allowed their membership to lapse in the last year. Here are the top six reasons why they said goodbye:
Top Six Reasons Membership Was Not Renewed
34 percent: It became too costly.
26 percent: The organization was providing little value.
19 percent: I changed industry/employment.
13 percent: I forgot to renew.
9 percent: Company would no longer pay the membership dues.
9 percent: There was a decline in benefits or quality of benefits offered by the organization.
Source: Community Brands’ 2017 Member Loyalty Study