Strategic Retention

1. Strategic Retention If implemented daily at all levels of your association, strategic retention includes many pieces, which all add up to a member’s perception of value. Members, for instance, may base their perception of value on: interactions with staff & leaders; products & services; information; learning opportunities and networking.

2. Many associations allocate the lion’s share of resources (time & money) to recruiting new members. Recruitment shows short-term payback, while retention is a long-term strategy that requires hard work. In the long term however, emphasizing retention is the wisest investment your association can make.

3. Recruitment Versus Retention • Recruitment results are more measureable • Easier to see a direct cause and effect • Recruitment translates to instant cash flow • Recruitment is more fun • No one has retention campaigns

4. When you lose a member, you must recruit two in order to show growth. When you retain a member, however, growth occurs with every new recruit. Most associations have a limited pool of prospects that is often narrowly defined. Money is much better spent keeping the members you have rather than locating possible new recruits, some of which will never join no matter what you do.

5. Potential member has a need Association’s value proposition meets that need Potential member joins Association fulfills the member’s need Member renews because their need is fulfilled Association continues to fulfill need Member continues to retain membership as long as needs are being fulfilled Member does not renew because need was not fulfilled Basic Membership Scenario

6. Know Your Members Study their characteristics, demographics, culture, what makes them tick. Why are they members of the association? What are their needs? Then tailor programs and services to meet their needs.

7. Members are neither identical nor interchangeable. There are many different reasons for joining and retaining membership. Maximizing retention requires segmenting and targeting of products, services, and efforts to meet individual member needs.

8. Membership Segmentation

9. Data Mining for Retention • Segment your membership • Evaluate historical trends by segment • Target retention risk segments • Test marketing materials by segment • Track retention results by recruitment method within each segment

10. Data Mining Tips • New member survey • Exit survey • Focus groups • Weekly polls on your web site • Conference surveys • Test marketing • Access research data complied by others • Track member calls • Phone question of the week • Hire an outside firm

11. Data Mining Goals • Why do members join? • Why do members retain their membership? • How can we be more responsive to member needs? • How can we serve special segments more effectively? • How are environmental changes affecting members? • How satisfied are our members?

12. Keys to Member Satisfaction • Royal treatment • Identify expectations • Manage expectations • Money back guarantee • In the know • At your service • Keep your staff satisfied • Techno-talk

13. Communicating With Your Members • Timeliness • Appropriate frequency • Appropriate format • Right audience • Proper implementation

14. Welcome Aboard • Automated prerecorded welcome call from the FHBA President • Follow-up email from FHBA CEO and or local HBA EO • New member packet • Personalized welcome letter

15. 1- 3 Months After Joining • “New Member Checklist & Guide” • Phone call from an FHBA staff member • Membership needs survey • Personalized invitation to an event • Phone call from local HBA Board Member • List new members in next publication and send them a highlighted copy of their name in print

16. 3 – 6 Months After Joining • Personalized email from FHBA CEO checking up on the new member • Personalized invitation to an event • Personalized email with a link to website for information on a hot topic • Check-up phone call from a local Board member • Invitation to new member social

17. 6- 9 Month After Joining • Personalized invitation to an event • Phone call from local HBA Board member • Personalized email from FHBA with a link to FHBA website for information on a hot topic • Email highlighting a different member benefit each month

18. 9 -12 Months After Joining • Send out an “Annual Report” highlighting the association’s legislative and regulatory victories, new services and testimonials on the value of membership • Member satisfaction survey • Renewal invoice and personalized letter • Personalized email from the EO thanking them for their membership and letting them know the renewal invoice is in the mail.

19. Annual Checkupfor one-three year members • Personalized email from the President • Membership Renewal Package • Annual Report • Products and services email • Call from a staff member or Board member • Member satisfaction survey • Personalized invitation to an event

20. Engagement • Councils, Task Force, Committees, Boards • Special Interest Groups • Serve as a mentor • Serve as a liaison • Facilitate programs • Speaker for local event • Photographs • Write an article • Raise funds • Grassroots legislative involvement • Online Surveys • Membership drives

21. Membership Levels SUMMIT MEMBERS RIDGE MEMBERS FOOTHILL MEMBERS Base Members Prospects