Top 6 Practices for Increasing Membership Retention Rates
Being a Platinum Sponsor of The Association Platform Power Conference 2022, Aplusify had the opportunity to host a session “Membership Insights and the Power of Integrations and Automations.” Rajeev Gupta (General Manager, Aplusify), Byron Smith (Digital Transformation Consultant), and Indu Tyagi (Senior Relationship Manager, Aplusify) guided us on how dynamic integration can effectively empower your membership teams to offer benefits that are personalized to improve retention and growth, without significantly increasing time and cost.
Our session’s agenda covered these key takeaways:
- All the right reasons to integrate
- Types of insights that you get after these integrations
- Top tips to foolproof your integration
Here at Aplusify, we love sharing lessons learned, so let us take a deep dive into the top 6 practices for increasing membership retention rates.
Introduction
Keeping members or customers loyal and engaged is essential for any business. When members leave, it can have a serious impact on your bottom line. Thankfully, there are many things that you can do to ensure that your members stay. In this article, we’ll outline some of the best practices that will help you increase membership retention rates. From creating a valuable membership experience to keeping your members informed about what’s going on, we’ve got you covered!
What is Membership Retention Rate?
It is the percentage of existing members who continue to be members after a certain period of time. It can also assist you in better understanding what keeps members engaged with your association and can also indicate areas where you can improve your service and offerings. You can work to improve your membership retention rate once you understand how well or poorly your association retains members.
Why Should Associations focus on Member Retention?
In most cases, associations require members to pay dues. Although dues are critical to the association’s growth and sustainability, they can also be a source of contention among members; some may even choose to leave their membership if they believe dues are too high.
So, member retention requires an active and ongoing effort. While a satisfied member is less likely to let their membership lapse, there are many reasons they might not renew. Due to any reason, you must research and develop innovative membership retention strategies every year.
Let us get started with the best practices.
It is important to understand what comprises a successful membership retention rate so that you can improve it as much as possible. To achieve sustained success with member retention, here are a few best practices that you can follow in your organization:
1. User Experience
One of the most important aspects of member engagement is providing a great user experience (UX). This means creating an interface that is easy to use and provides helpful features. It also helps if your content is relevant and engaging. By doing so, you will be able to keep your customer base longer and reduce churn.
2. Access to Resources and Support
Here’s another important aspect where you must make sure that your members have easy access to resources and support, both online and offline. You should also provide members with timely updates on changes or new features of system so they can stay up to date on the latest developments.
3. Value for Members
It is essential to continuously develop and deliver value for your members. It means creating high-quality content, offering valuable discounts and exclusive offers, maintaining an active social media presence, and responding quickly to inquiries. Keep member engagement high by regularly sending out engaging emails and making relevant content available across all channels. Additionally, make sure that your process is easy enough for members to easily navigate and understand.
4. Positive Response
To increase membership retention rates, your organization should provide experiences and create an environment that makes members feel they are getting good value for their membership fee. Analyze data and identify your members’ needs and how your association can meet them. It can also lead to increased funding and a better reputation.
5. Communication
Another key factor for retaining members is communication. Make sure that you are up to date on all changes happening within your platform, respond quickly to feedback, and create regular blog posts or infographics about topics related to your industry or profession.
6. Emphasizing the benefits of membership
Lastly, you should develop a clear strategy for attracting and retaining members. This should include distinguishing your association from the competition, highlighting the benefits of membership, and developing engaging marketing materials that effectively convey these messages.
Final Thoughts
In conclusion, by following these simple best practices, you can increase loyalty among your current members and attract new ones along the way!
If you wish to know more about Aplusify or have a specific business requirement in mind, Schedule a 1:1 meeting with one of our Salesforce experts now. Our experts will be happy to listen to what’s happening at your organization and how our services can help. We offer rates as low as $60* per hour for Salesforce-managed services.
About Aplusify
Aplusify provides associations, nonprofits, and higher education institutions with the capacity and capability of maximizing their Salesforce platform. Our team of Salesforce-certified experts alleviates the technical weight of implementing and managing Salesforce so that you can focus on strategy and organizational mission. Find out how we can save you time, money, and stress with our Salesforce Managed Services.
