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©2010 Hight Performance Group To Renew or Not renew-How to Increase the Value of Membership 1 To Renew or Not Renew— How to Increase the Value of Membership Presented by Cathi Hight

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Page 1: ©2010 Hight Performance GroupTo Renew or Not renew-How to Increase the Value of Membership 1 To Renew or Not Renew— How to Increase the Value of Membership

©2010 Hight Performance Group To Renew or Not renew-How to Increase the Value of Membership

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To Renew or Not Renew—

How to Increase the Value of Membership

Presented by Cathi Hight

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Session Objectives• Understand how members determine value

for their memberships• How to increase the “I” in membership ROI

—The Shift to VOI• Value Propositions—Use Them to Recruit

and Retain Members• Employ Strategies to Communicate the

Chamber’s Value

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Session Agenda• Retention challenges that affect recruiting

and retaining members• What drives retention rates down?• The Member’s Value Equation• Increase the “I” in ROI and the shift to VOI• Value propositions—to recruit and retain

members• Retention Survival Strategies for 2010 - 2011

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Why is Retention a Challenge?

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Other Retention Challenges

• Members don’t perceive value or ROI for investments

• Staff is too busy to focus on retention (it’s everyone’s job and no one’s job)

• Focus is on recruitment than on retention• High turnover with first-year members• Increasingly diverse needs of members• Retention initiatives are implemented

reactively and/or too late in the cycle

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DO YOUR MEMBERS VALUE THEIR MEMBERSHIP?

Renewals Are Based on Perceived Value

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How Members Perceive Your Value—The Value Segmentation Model

Relationship Impact• Extent of building

valued, trust-based relationships

• Understanding members’ needs and helping them achieve their goals

Product and Service Differentiation• Ability to communicate

your unique value as compared to alternative solutions in the market

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Are You a Partner, Adviser, Value-Add or Supplier?

Members’ Perceived Value of the Chamber

• Partner: Strongest bond, these members are the most loyal to the Chamber

• Adviser: Good relationship, but you need to offer members more differentiated offerings

• Value-Add: Differentiated offerings, but you need stronger relationships with members

• Supplier: Weakest position, members could be served by other organizations

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Change Membership ROI to VOI

Typically, ROI is about the bottom line

Value = Benefits – Cost

It’s time to shift ROI to VOI (Value on I___________ fill in the blank with an “I” word)

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The “I” in VOI (Value on…)• Investment: Direct return for dues/non-dues• Information: Unique sources, one-stop and for

members only• Influence: Ability to persuade, affect outcomes that

benefit members• Initiative: Taking an important position on issues,

sharing members’ perspectives• Impact: Direct result of initiatives, consequences• Interaction: Accessibility and quality of conversation• Intelligence: New awareness, understanding,

knowledge that can be applied• Insights: Lessons learned, a-ha moments as members• Instruction: New skills or applications, best practices• Integration: Ability to implement into business/life,

sense of belonging to a larger community

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Influence Whether Members Renew

Strategies for 2010 - 2011

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#1 Get Feedback on Your VOI and Communicate Value Differently

• Which sources of information do you access on a regular basis?

• Name an opportunity provided by the Chamber that allowed you to influence a decision or issue with policy decision-makers.

• Describe one Chamber initiative that shared your perspective and had an impact on your business.

• How would you rate your most recent interactions with other members?

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Get Feedback on Your VOIand Communicate Value Differently

• How has the Chamber helped you to develop new or stronger relationships with others in the community?

• Describe something new you learned as a result of a Chamber program or benefit you accessed.

• Which of the following training or education opportunities have you participated in over the last year?

• How have you integrated best practices or ideas gained from being a member into your business or personal life?

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Let Members Toot the VOI Horn• Use existing programs to collect

feedback from members on camera

• Hold a testimonial gathering party with your “champion” members and showcase their businesses, too (use Flip video cameras)

• Showcase video and print testimonials on your website, newsletters, directory, etc. (ex. http://www.boulderchamber.com/)

• Ask questions and allow members to comment in their own words

• Create a FAQ on member benefits and feature responses from members who use those benefits

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#2 Create a Strong Local Economy• Advocate for local

developments, issues, infrastructure needs

• Encourage local, regional shopping

• Promote the area and attract visitors

• Attract primary employers• Support start-ups and

entrepreneurial growth• Collaborate on workforce

development initiatives• Communicate effectively on

how you enhance the local economy

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#3 Develop Communities of Interest Around You

• Connect members to one another via mutual interests and initiatives• Task forces, councils• Special Interest Groups

(SIGS)• Birds-of-a-feather

(Women’s, YP’s groups)• Calls to Action

• Share best practices and solve common problems• Forums, panels, experts• Blogs, online resources

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#4: Create 24/7 Networking Opportunities

• Build on old-fashioned networking

• Develop virtual networks• Facebook, LinkedIn, Twitter• Blogs• YouTube, Google Video• BizBlindDate.com• Connect 4 Lunch• E-SIGS (Special Interest

Groups)

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Ways to Use Social Networking Media

• Create an online profile of your organization• Provide links to your other social media and website to increase

ranking, relevancy and traffic• Share clips from your best events, promote upcoming ones• Join groups and create some of your own (see

http://www.boulderchamber.com/)• Ask for recommendations from members• Promote members and provide links to their websites and media

sites• Use communication that engages members, creates awareness

and positions you as an expert• Learn what people are saying about you (e.g., Twitter search,

Google Alerts)

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#5 Highlight Good News About Members

• Showcase members who are doing well during the recovery

• Help members celebrate what’s working in their businesses

• Create a positive campaign about new developments, change, and impacts made by members

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#6 Make it Easy and Convenient to Engage

• Offer self-service options on your web site• Ensure that systems work (e.g., links, online

registration, renewals, shopping cart)• Find ways to save members money and time• Think ahead for members• Go to members instead of making them come to you• Automate transactions and processes• Make products/services accessible on their terms• Offer payment options and discounts

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# 7: Recognize and Reward Members• Honor members at special events• Provide certificates for training or

participation (e.g., Leadership program)

• Congratulate them on their business anniversary and accomplishments

• Recognize their renewals• Nominate them for community awards• Spotlight members on website or

newsletters• Recognize “Volunteers of the Month”• Acknowledge members in press

releases• Send out handwritten, personal notes• Provide recommendations on their

social networking sites• Encourage member loyalty

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Session Summary• Improve how you communicate the value of

membership by leveraging the “I” in VOI• Be seen as the Partner or Advisor to members to

cultivate long-time value• Get feedback on your VOI and for members to

communicate the value of membership• Be the “hub” and sphere of influence• Focus on creating a strong, local economy• Create opportunities for members to engage on their

terms (face-to-face, virtually)• Ensure that member’s Good News is part of yours• Make it easy and convenient for members• Recognize and reward your better members

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Take Advantage of Our Membership Development

Expertise

• Stop by our table to learn about our retention tools

• Check out our web site: www.hightperformance.com

• Contact us for support at (720) 304-0747