Membership renewals contribute to the longevity of an association. A high renewal rate indicates that members are more likely to stay in the long run as you work towards your goals and attain success together.
While some associations may have low retention rates due to relocation or budget cutting, the most ideal member retention rate is 75 percent or higher.
In the same way, recruiting new members can help you achieve your vision faster. It also signals that you can generate a stream of revenue for your association’s financial goals.
If you’re wondering how to ensure membership renewal, you’ve come to the right place.
In this article, we will show you the different strategies you can implement to prevent individuals from leaving the group and improve member retention.
An association’s growth strategy has to be open to management innovation changes to provide value to members continuously.
It would be best to reevaluate the membership benefits you offer to convince people to join and stay with your association.
A membership satisfaction survey is a useful tool to use to collect meaningful feedback from your members.
With it, you can learn what your association has yet to improve and work on. It’s also one way of showing members that you genuinely care about their needs.
Keep in mind that the key is to make sure that you ask the right survey questions to determine the challenges they’re facing and offer the best solutions to solve them.
When done right, it can be a surefire way to increase member satisfaction and encourage regular renewals.
Higher levels of engagement can result in increased renewal rates. Having satisfied members doesn’t automatically mean that they truly feel the connection to your association.
According to a study, only 55 percent of respondents felt connected with their professional organization, despite the satisfaction rates at 84 percent.
Engagement is not solely focused on attending events. It includes email open rates, member feedback response, and social media interactions.
To fully engage your members, start conversations regularly on social media platforms. You can discuss industry stories, share trending topics, and post viral photos or videos while actively participating in the conversation thread.
While the general rule for posting is once per week, you can still post three times per week at a minimum.
However, you may find that some members do not interact much. While it’s normal that they opt to merely observe, be open to encouraging them to participate.
Keeping in touch with members especially with those in their first year of the membership is vital when building strong relationships. A well-planned check-in once in a while can improve an association’s retention rates.
Demonstrating strong communication can strengthen association relationships, compliment management efforts, and increase member renewals.
Including this in your long-term plan is essential to ensure that you meet their needs and expectations. When you do this effectively, you are more likely to retain more members.
One of the most common ways to reach out to members is through email. Plan an email strategy and track its effectiveness. To maintain professional connections, contact members every three to six months.
Sharing relevant news, paying attention to timing, and giving feedback opportunities are just some of the ways to engage them with email campaigns.
Monitor the open rates and click rates of emails to understand if you’re using effective subject lines that motivate users to open them. Aim for an average open rate of between 15% and 25%.
You can also do check-in calls to connect with members and check if there are no problems. A conversation over the phone is a good idea since it's more personal and can make them feel more valued and appreciated.
Renewal notices are some of the most important emails you need to send members. A thoughtful and well-written one can encourage them to continue their membership.
Timing plays a crucial role when reaching out and convincing them that it's time to renew. Be aware of the best time of the day to contact people for maximum engagement.
A study says that Thursday is the best day to send emails if you're aiming for high open rates. It's followed closely by Tuesday for increased click-through rates.
On the other hand, sending emails late in the afternoon has a chance of getting an open rate of 36.5%.
You are connecting to extraordinarily busy people. It's one reason why reminder emails are necessary to get their mind on the renewal.
If you want to test the effectiveness of every email you send, one renewal strategy you can perform is distributing multiple versions of it using different subject lines.
Membership renewal messages are essential when guiding members on the process. There’s a higher chance of getting lapsed members simply because they forgot to renew.
The information can be sent via print, email, or even posted on social media. Members should easily access your association’s renewal form.
To address this issue, offering automatic membership renewals to members is the best thing to do.
Membership management software lets you do this, along with automated emails that update members about the status.
There’s a high demand for auto renewal plans from association members today. Therefore, you should take advantage of this option to increase new member renewal rates.
At Glue Up, the average retention rate of our clients is 82%. With our Association Management Software, you can streamline the membership process with an all-in-one engagement solution.
Moreover, it allows you to create programs to ensure you’re effectively delivering member value.
You can also determine the engagement rate and optimize as you will. Maximizing revenue is easy with its sponsorship and membership channels.
Showing gratitude can foster meaningful and lasting relationships with your members. It’s a great way to make them feel welcome and appreciated.
It improves member experience and signals that you value them in the organization. When you express your appreciation for their contributions, you can build stronger relationships that motivate them to continue their participation and engagement.
A sincere thank you can increase member satisfaction. Writing a personalized message can create a meaningful connection between them and can be a key driver in building loyalty. When they feel that you are grateful to have them, they will value their membership more.
Membership renewal plays an essential aspect in developing and sustaining organization growth.
In this article, you learned that it’s vital to communicate effectively with members, determine their needs, and improve the membership renewal process to continuously engage and retain them.
We hope you’re now ready to strengthen relationships with members, enhance member experience, and encourage them to stay using the renewal strategies we have provided.
Are you interested in leveraging digital tools to deliver an outstanding member experience? Book a demo with us now, and we'll show you how you can automate and personalize membership management with ease using the Glue Up platform.