Maximising Your Membership: How to Achieve More with Less
- 22 May '23
- 11 mins
With the ongoing cost-of-living crisis continuing to impact businesses and revenue across the UK, it's essential that companies are more careful with their budgeting strategy than ever. Of course, this includes membership organisations, who must make wiser spending decisions in order to ensure they provide members with the best membership experience possible at the best return on investment for the organisation.
The current climate is understandably making it difficult for organisations to attract and retain members. Most of us are cutting costs where we can, and things like non-compulsory membership subscriptions, or perceived 'nice to haves' like attending a gala dinner or engaging in additional training are often the first to go. So, how do you justify your membership is really worth the spend?
In this blog, we'll explore how to make the most of your membership proposition so both you, and your members, get better value for money.
We love online community at Cantarus – sure, we’re a little biased, but our successful track record is proof that it works!
An online community offers a multitude of benefits, including:
By creating a private space where members can network, communicate, and learn from each other, regardless of where they are in the world, having an online community in place gives your members yet another reason to stay.
Manage internal costs by ensuring you're getting the most out of your current technology infrastructure.
Invest in automation tools that streamline administrative tasks (e.g., membership renewals, event registration, and email marketing) to allow you to focus more on delivering high-quality content and services to your members.
Often when a business goes through a rough patch, they cut the marketing budget first. I say this not only as a marketer, but as someone practical – don't do this!
Although you might not have a massive budget for an exciting campaign, you can still be creative within your means. Look at partnerships, social media campaigns, email newsletters, and promoting your brand as low-cost ways to attract new members and turn existing ones into loyal fans.
ChatGPT is seemingly taking over the world, but robots aren’t all bad!
A well-implemented chatbot (set up with the proper logic and FAQs) can be super helpful for members to self-serve, rather than relying on your internal teams for information. This improves the member experience and reduces the burden on your staff.
Once your chatbot is up and running, remember to monitor its performance and gather feedback from your members. This will help identify areas for future improvement.
Regular check-ins with your members should be standard, but many organisations overlook this. It's important to ask your members what they want from you. What do they value most? Which benefits are they getting the most use out of?
Conducting online surveys, focus groups, or collecting feedback from your member services team on a routine basis are effective ways to gain deeper insight into what your members want and need. This’ll help you better focus your efforts on how to provide more value in the future.
In conclusion, with the right approach, your organisation can continue to attract and retain members, despite budget cuts, by better understanding your members' needs, leveraging the right tools, and continuously evaluating and refining your member strategy.
If you'd like to see how we can help your organisation attract and retain its members, please get in touch with [email protected] and a member of our team will be in touch soon.