Money & Business

Monday Buzz: Membership Renewal Guide

By / May 14, 2018 (siridhata/iStock/Getty Images Plus)

Don’t let a lackluster renewal program be the reason you lose out on members. Also: As digital technology changes the world at light speed, mindfulness can help leaders shape the future of organizations more strategically.

Membership attrition happens to all groups, but a smart and energized renewal program can go a long way to help retain members.

Wild Apricot conducted an extensive survey on renewal tactics, and from those learnings, it has created a membership renewal guide with helpful tips for any association.

“The Marketing Benchmarking Report found that associations that offer an early renewal discount were more likely to see an increase in renewal rates over the past year,” states the guide. “In addition, they found that associations with renewal rates of 80% or higher were significantly more likely to provide an installment renewal plan, with monthly or quarterly payment options.”

You may also hold on to members by instituting a renewal grace period, but you’ll need to decide whether you continue to allow members to receive benefits or deny those benefits until you get their dues. “You might also do some discreet investigation into whether members are aware of your existing grace period and whether this encourages some to postpone payment,” says the guide.

Mindfulness Management

Mindfulness sounds like one of those things you want to get into to be a better you. But consider whether mindfulness can also help you be a better leader.

“As consultants Justin Talbot-Zorn and Frieda Edgette have explained, mindfulness can help leaders to see past the storylines and narratives that unconsciously guide their traditional thinking,” writes Jim Butcher in a recent Harvard Business Review post. “This can help individuals and firms break free from the tyranny of unexamined assumptions.”

Other Links of Note

Will gen Z be the death knell of conferences? An Inc. contributor says no as long as meetings have “convergence.”

Last year, text fundraising outpaced email fundraising for the Humane Society of the United States. The NonProfit Times shares tips for a better SMS campaign.

Are chatbots all they’re cracked up to be? TechRepublic sheds light on why they’re not that popular.

Raegan Johnson

Raegan Johnson is a contributor to Associations Now. More »

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