InformationWeek just ran an interesting article titled “Why Everyone’s Data and Analytics Strategy Just Blew Up”. They sum it up starkly: "Customer behavior has changed and company operations have changed. If your data and analytics strategy isn't keeping up with what's happening, then you have important work to do, quickly." We couldn’t agree more – you need Fast Data.
On April 14th, Associations Now published an article titled “How the COVID-19 Crisis Is Accelerating the Shift to Online Member Engagement.” In putting forth these ideas, ASAE is emphasizing to the member industry the fact that trends towards online member engagement are not new and not subtle – just that they are accelerating in response to the pandemic.
I worked for two trade associations – the National Association of Broadcasters and 340B Health – both of which were obsessed with member retention and delivering member value. Not an uncommon pursuit at any association. One of the best ways to illustrate the value you are delivering a member is to show them the Total Member Value (TMV) your organization provides them.
For years the chosen method to demonstrate value to members for their dues payment was to provide them a profile report from the Association Management System (AMS), which generally listed all the products and services they received and all the other activities in which they participated. This approach had the following weaknesses:
Renewing members can be arduous. Email follow ups, reminder calls, invoice mailings, and more. It takes time and resources to retain your members year over year. Auto-paid renewals can help streamline the process and generate more reliable recurring revenue and membership.