Nsa membership Marketing Membership Counts and Profiles

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NSA Membership Marketing

  • Membership Counts and Profiles

  • Recruitment

  • Retention

  • Lifetime Value

  • Value Proposition & Member Benefits

  • Ideas and Tactics

NSA Membership 9/30/08

  • Active Members: 9,453

  • Associate Members: 747

  • Retired Members: 501

  • Student Members: 225

  • Educator Members: 96

  • International Members: 31

  • Life Members: 29

  • Firm Members: 11

  • Vendor Members: 6

  • Total Membership: 11,099

NSA Member Profile:

  • Gender: Male

  • Average Age: 57

  • Education: At least a 4 Year Degree

  • Type of Practice: Sole Proprietorship

  • Credentials: Enrolled Agent

  • Annual Gross Income: $237,019 (in 2006)

  • Annual Net Income: $81,100 (in 2006)

NSA Member Profile:

  • Processes More Than 500 1040s Annually

  • More Than ½ Gross Income is Derived From Tax Preparation; 20% from write-up work

  • Has Been in Practice for 23 Years

  • Has 3 Full-Time and 2 Part-Time Employees

Membership Recruitment

  • Direct Mail Marketing

  • Exhibits

  • Go Getters

  • State Directors

  • Dual ASO Members

  • Word of Mouth (Viral Marketing)

  • Website

  • ACAT & Scholarships

Membership Recruitment FY 07-08 Results

  • Joined NSA between 9/1/07 and 8/31/08:

  • Active Members: 1056

  • Associate Members: 176

  • Student Members: 43

  • Educator Members: 8

  • International Members: 10

  • Vendor Members: 5

  • New Member Total: 1,298

FY 07- 08 New Members by District

  • District I: 49

  • District 2: 212

  • District 3: 73

  • District 4: 230

  • District 5: 157

  • District 6: 57

Membership Retention

  • To grow, it takes 2 new members to replace 1 dropped member

Factors that Influence Membership Retention

  • Associations that offer individual

  • Membership as opposed to associations

  • with institutional or company

  • memberships typically will see

  • lower renewal rates.

Factors that Influence Membership Retention

  • Associations that serve a market where dues are reimbursed or paid for by an employer will see better renewal rates than dues paid out of pocket by individuals.

Factors that Influence Membership Retention

  • Associations with a rapidly growing membership tend to have lower retention rates than groups with a steady or declining membership.

  • This occurs because growing associations have a larger proportion of first year members and first year members typically renew at a much lower rate than longer term members.

Factors that Influence Membership Retention

  • The stronger the incentive used to get

  • members to join an association, the lower

  • the renewal rate will be when compared

  • to members who joined with no

  • incentive.

Membership Retention

  • Active Members: 88%

  • Associate Members: 72%

  • Retired Members: 98%

  • Student Members: 59%

  • Educator Members: 81%

  • International Members: 69%

  • *First year member renewal rate averages between

  • 55%-60%.

Membership Retention

  • ASAE & The Center reports that the mean

  • renewal rate is 83% for an individual

  • membership association and 91% for a

  • trade association.

Calculating Membership Retention

  • # of members who renewed/# of members up for renewal. 125 renewed/150 up for renewal = 83%

  • Total # of members today minus 12 months of new members/total # of members at this time last year. 3000 members – 500 new members= 2500/2800 members now = 89%

NSA Membership Retention

  • Multi-part renewal campaign: letters, e-mails, faxes, last issue newsletters/magazine wraps, telemarketing, incentivize early renewals

  • New member welcomes & renewal campaigns

  • Different messaging for different member types

  • Exit surveys

  • Continually communicate NSA benefits

  • Engage members

  • Customer Service & Use of Database

  • Member Needs Assessment

Lifetime Value (LTV)

  • The Lifetime Value (LTV) of a member

  • estimates the member’s financial

  • contributions to the association over the

  • life of membership. It is critical for planning

  • & budgeting marketing expenses.

  • Average Member Tenure

  • Average Yearly Membership Dues

  • Total Nondues Revenue

  • Cost of Serving Members

Lifetime Value (LTV)

  • Average Member Tenure: 1/Inverse of the Retention Rate 80% Retention Rate: Inverse = 20% 1/20@ = 5 Years Average Tenure

  • Average Yearly Dues x Tenure = Lifetime Dues Value of a Member

Lifetime Value (LTV)

  • Total Nondues Revenue/# of Members = Annual Nondues Revenue per Member

  • Annual Nondues Revenue per member x Tenure = Lifetime Nondues Value of a Member

Lifetime Value (LTV)

  • Lifetime Dues Value + Lifetime Nondues Value = Gross Lifetime Value per Member

  • Gross Lifetime Value – Lifetime Cost to Serve a Member = Net Lifetime Value of a Member

  • *Lifetime cost to serve a member = total yearly

  • expenses/# of members x average tenure

What is Your Value Proposition?

  • Who are you to members and who do you want to be? This vital assessment should drive your benefit & services package.

  • Which benefits & services support the mission, vision & strategic plan of the association?

  • Understand your members and have a keen awareness of what your are capable of doing and what you should or should not be doing.

New Definitions of Value

  • Years ago, belonging to one’s professional

  • association was routine and dues were

  • paid without questioning the benefit.

  • Membership was viewed as a way to

  • support the profession or defend the

  • industry and that was seen as valuable

  • enough to justify a lifetime of membership.

New Definitions of Value

  • Consumers have come to develop higher expectations from membership organizations. Today’s members expect a quantifiable return on their investment of dues dollars in addition to the association’s delivering on the mission.

New Definitions of Value

  • For every dollar they spend in dues, they demand at least a dollar’s worth of value in return.

  • To respond to this trend, associations must continually demonstrate the value they return to their members and communicate that value consistently.

Value Proposition = Unique Selling Proposition

  • The association’s value proposition is composed

  • of all the programs that are given to members

  • when they join. It answers “Why Should I Join

  • Your Association?:

  • From a value standpoint, association programs fit

  • into two categories:

  • Does the program provide a tangible or intangible benefit to the member?

  • Is the program related to the mission of the organization or unrelated to the mission?

Benefits Sweet Spot

  • Unrelated to Mission

  • Related to Mission

Understanding & Articulating the Value Proposition: Turning Features into Benefits

  • A feature is a product or service the association offers.

  • When describing the benefits of membership, it’s crucial to put yourself in the shoes of the prospect or member.

  • The benefit is more powerful than the feature because it defines actual value or outcome for the member

Turning Features into Benefits

Reasons for Joining NSA

  • Top reasons members join NSA:

  • Information

  • Education and CPE

  • Tie: Credibility, Ethics/membership certificate and publications

  • Advocacy

  • Networking

  • Least important reasons for joining:

  • Annual meeting

  • Leadership opportunities

  • 75% of members say NSA membership meets to strongly meets expectations

Member Benefits: NSA Member Survey Results

  • Keeping up with tax law

  • Marketing/business development

  • Employee issues: hiring & retaining staff, etc.

  • Technology

  • Time management

  • Competition

Member Benefits: NSA Member Survey Results

  • Customer service and relations: timeliness of service, getting info. from clients, keeping clients honest

  • Education

  • Expenses

  • Cash flow

  • Information overload

  • Pricing of services

Membership Marketing Tactics

Membership Marketing Tactics

  • Letter Packages Outperform Self-Mailers

  • Letters: Use Johnson Box, PS and PPS; Put the Appeal and Offer Upfront

  • Letters: Longer Letters Out Pull Shorter Letters; should have more emotional appeal than brochures

  • Envelopes: Plain or Teaser, Return Address, Live Stamp, Label, Handwritten Font, Color…Plain White & Boring Works

Membership Marketing Tactics

  • Speak to your audience’s pain points first and then offer a solution. But only in bite size chunks.

  • Don’t give away all of your information. Create a desire to learn more and make it easy for them to find out more.

  • Use every response technique you can - email, toll free telephone, fax, business reply card…repeat and make it easy to find.

Membership Marketing Tactics Writing the Offer

  • Link Benefits to Two Primary Motivators: Greed and Fear:

  • · What’s in it for me?

  • · What happens if I don’t respond?

  • Offers with Deadlines Outperform Offers Without Them (90 Days)

Membership Marketing Tactics

  • Offer Incentives & Discounts: Should be 15-35%

  • Price Points: #s Ending in a 7 or 9 Get Higher Response Rates

  • Use Real Examples, Numbers Product Data, Testimonials

  • Repeat & Repeat the Offer & Take Action Response Mechanisms—Make them Easy to Find

Membership Marketing Tactics New Members

  • Break Down the Welcome Membership Kit/Materials Into Smaller Pieces to Increase Communication & Encourage Engagement

  • Welcome Call

  • Six Month Check In, Thank You, “How Are We Doing?” Survey

  • Communicate BEFORE the Renewal Cycle Begins

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