Market segmentation, business intelligence, member intelligence, new member sales, member retention and member relationship management are all inter-related topics. All of them seek to answer questions your association needs answers to, such as:
- How do we demonstrate the value we provide to our members?
- How do we expand our influence?
- How do we increase our benefits to members and the community?
- How do we increase new member sales while retaining the members we already have?
- Who are my most valuable members and why?
- Where should I focus my time to generate the best results?
- Which members are the most engaged?
- Which benefits sell better to specific member groups?
- Which members are most-at-risk and why?
- Who are my least valuable members and why?
Business intelligence and its counterpart in the association space, member intelligence, is all about delivering the right message at the right time to the right audience in a way that they will be most receptive to receiving. And, it's about knowing which members are most valuable to your association, and which prospective members would be valuable to your association.
It sounds complicated, but the key to it all is capturing data about your members, their activities and preferences, and having reporting tools that allow you to easily mine the data. Your association management software is the ideal location to capture this information.
Where Do You Spend Your Time?
The 80 / 20 rule applies to almost every facet of business and it is easy to spend 80% of your time working on activities for members that only generate 20% of your revenue. With a limited staff and a limited budget you need association management software that will allow you to focus on the members who receive the greatest benefit from your organization and who correspondingly generate the largest percentage of your revenue. In short, you need association management software that helps you focus on the members, prospects and activities that matter most - your target audience.
Collecting information about members when they first join and tracking their ongoing activities in your association management software is a key to extracting member intelligence when you need it.
High Tech Drives High Touch
- Collect initial and updated data on individual association members (contact information, industry, member anniversary, dues level)
- Track non-dues transactions (events, sponsorships, advertising, benefits purchased, date of purchase, frequency of purchases)
- Track communications (emails sent and received, correspondence, phone calls)
- Measure marketing effectiveness (promotions offered and used, direct mail campaigns, email invitations)
- Monitor member engagement (attendance at events, benefit usage, volunteer activities, communication frequency)
- Communicate member referrals (e-mailing members with referral notices, rotating referrals, tracking the number of referrals)
- Segment member groups (identify common patterns and characteristics)
- Understand lifetime value of membership (which members generate the most revenue for your association over the course of their membership)
Relationship building is all about understanding the needs, wants, interests and concerns of your members and delivering programs, campaigns, events, initiatives and targeted communications that meet their needs.
Your association management software should help you convert member data to member intelligence that in turn drives your activities. Which members should you call and when do you need to call them? Who prefers email? Which industries or categories are your best members? Where are your members concentrated geographically?
To drive new member sales and retain existing members you need to add value, increase engagement, enhance communication effectiveness and deliver results. Innovative, intuitive and integrated association management software will help you become a critical partner in your members' success.
WebLink's association management software delivers insightful reporting and real time information so you can deliver real time results to your association. We'd love to talk with you about your association's goals and needs for member intelligence. For more information or to request a demo, please contact WebLink today!