Behind performance issues of recruitment, retention and service provision lie strategic questions about our relationship with our members. Have we got the membership strategy and proposition right and are we fulfilling our core purpose?
Getting the Relationships Right
Falling recruitment, lack of engagement for new programmes, grumbles over fee rates – they all signal your membership strategy and proposition is ‘out of tune’ with current membership needs.
Our approach to re-tuning the relationship can cover:
- recruitment, renewals and retention rates
- membership engagement
- fee structures (what’s included and what isn’t)
- segmenting the membership (incl. strategies for seniors)
- ensuring ‘added value’ in membership services
- balancing commercial and charitable considerations
- managing the expectations of stake-holder groupings.
Case Study (Membership strategy)
The client: A chartered professional membership body with over 140,000 members with revenues of circa £45m, of which half are derived from membership related activities.
Situation: For a number of years, this Institute had been offering a ‘one size fits all’ membership proposition and fee structure. With ambitious plans for growth, it was recognised that to remain valued and relevant there was a need to develop a more segmented approach to membership. At the heart of this new approach was the desire to grow the pipeline of new student members, many of whom felt the current subscription fee was unaffordable or did not represent value for money. At the other end of the membership spectrum, the fees for Chartered Members and Fellows were perceived to be low in relation to other chartered professional bodies. Additionally these more senior members were looking to the Institute for real thought leadership and for content that was more strategic and international in nature.
The project: This project encompassed a range of work programmes relating to membership strategy, including in-depth member research to shape the membership propositions, rigorous financial modelling to minimise the risk of loss of membership revenue, and regular and transparent communication with all stakeholder including the Institute’s Council. A comprehensive review of membership benefits and services was also conducted, with one of the key recommendations being the launch of a new magazine with strategic content, available to Chartered Fellows only.
Outcome: The final proposal approved by the Institute’s Council was for a reduced student fee to stimulate the membership pipeline and for an increase in fees for Chartered Members and Fellows of circa 20% and 35% respectively. The fee changes were accompanied by the delivery of new tailored membership benefits including the launch of a quarterly print journal for Chartered Fellows only.
Overall the changes resulted in minimal loss of existing members, an annual growth of 17% in the new student pipeline, and a strong endorsement from Chartered Fellows for the new magazine.