Membership Hack: Referral Dollars

The International Association of Registered Financial Consultants doles out a $25 referral credit to any member who refers recruits during an end-of-year membership drive. The dollars can be used to pay down next year’s dues.

How to hack it? You might call it a return on recruitment effort. For every recruit that joins the International Association of Registered Financial Consultants during an end-of-year membership drive, the referring member gets a $25 credit that can be applied to next year’s dues.

The value can pay off fast. The credits for recruiting three new members amount to the equivalent of an IARFC general membership renewal.

Why does it work? The renewal credit incentivizes members to recruit a handful of prospects each year, says IARFC Chairman and CEO Steve Bailey. “Membership drives are ways to infuse enthusiasm within the association while increasing the numbers,” he said in a media release.

What’s the bonus? The member who brings in the most recruits wins IARFC’s Member Award and will be recognized at next year’s annual meeting in Cincinnati. The award comes with free registration, hotel, and travel accommodations.

(IIIerlok_Xolms/iStock/Getty Images Plus)

Tim Ebner

By Tim Ebner

Tim Ebner is a senior editor for Associations Now. He covers membership, leadership, and governance issues. Email him with story ideas or news tips. MORE

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