No matter what the industry there is a need to network and educate one’s self to be successful. You may belong to a membership based organization or know people who do because of the incentive of doing more business by reaching more people. Dues are tax deductible under IRS laws (minus quantifiable value of incentives) so why not? Often belonging to an organization is also attractive to customers because it demonstrates continued interest in your industry and that you are gaining knowledge from others with diverse expertise.
While many take advantage of the tax deduction, the biggest motivation to join and renew memberships is because of the benefits of being a member. Industry membership programs alone are not enough to sustain interest in an organization. Entrepreneurs, contractors and others look to membership organizations for dental, vision, life insurance and discounts.
While each organization have the usual expenses such as; staff salaries and benefits, office leases and marketing. Their only way to cover expenses over time is to increase dues, a risk for most memberships because it threatens member retention. So, how can a membership based organization cover increasing expenses, perserve memberships and attract more members? Add more services! Yes, add more benefits and incentives. We all ask “What’s in it for me”, if the answer comes back with a membership and networking, act quickly because you are going to loose members.
Strategic Concepts’ newly tailored insurance and incentive benefits are now being combined offering the following attractive reasons to get your members to renew their membership:
- Flexible Limited Benefits
- Prescription Drugs
- Emergency Room
- Dental
- Life Insurance
- Disability
- Chiropractic
- Discount Gift Cards
- Travel
Members are looking for value more and more. Even those who never attend a meetings and only participate during educational conference calls or just go on online seek to find value with each interaction. If your organization is not blogging every week or providing interesting white papers to read, you are missing a wonderful touch point with your member. Keep your website alive with activity adding eye catching travel and up-to-date industry news.
Members are engaged and are provided with benefits and incentives they will remain committed and invite others. If invovled, approximately 80% of members renew for the next two or three years. After three years, many people renew less automatically, so a special incentives are needed for that extra motivation.
