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When was the last time your association evaluated its pricing strategy? Without routine pricing reviews, your association could be leaving profit, and member satisfaction, on the table. Market conditions will always shift, member expectations will evolve, and economic factors like inflation can influence perceived value.
Reading Time: 3 minutes How to Get Membership Pricing Right Ever wondered how to nail membership pricing? Think about “The Price is Right” game show. Prices matter, but they can be tricky to pin down. Likewise, associationpricing often feels like a guessing game.
In addition, as Joe makes clear in the quote above, without the ability to grow the dominant revenue stream through changes in pricing, associations are typically left with only two options: increase membership numbers substantially or reduce costs significantly, both of which are usually much easier said than done.
In terms of the “next practices” for association eLearning, we think the greatest potential lies in digital badges , as a means of increasing both the value of education programs for members and the capacity for eLearning to generate non-dues revenue for associations. Value of Digital Badges for Association Members.
Additionally, you could suggest a “freemium” community membership for potential members to showcase the value of joining your association. Download our eBook, Maximize AssociationValue with Engagement , for the full list of ways a community builds your association’s member acquisition and member engagement efforts.
Cheap stuff at low prices that are not at all like their descriptions or pictures. Many associations have competitors who engage in spam or even scam-like practices. Evaluate your membership pricing; what does it signal? Every once in a while, I get a voicemail claiming to be from the IRS, or my credit card company, or a bank.
Reading Time: 3 minutes Make Your Membership An Offer They Can't Refuse Are your members finding your membership value proposition irresistible? Well, if you ask association members why they choose not to renew, you’ll find that two out of three of them point to a lack of perceived value for the price they pay.
For trade associations, institutional members might expect value in the form of internal educational resources they can share with their staff on community forums. What’s the proper price point for this product in our online store? . How many learners will we have in this specific professional development course? .
So they pull value out of the free offering and place the value behind the paywall. Some organizations offer free or reduced prices to small organizations. This angers or disappoints long-time free “customers” which is a barrier to future engagement.
Associations have to keep up technologically or risk having members go elsewhere for information and question the associationvalue proposition. Associations should discuss the potential ROI they are likely to receive before purchasing any new technology.
Writing for his personal blog, Eric Lanke, CEO of the National Fluid Power Association, talks about his love-hate relationship with values statements and how involving staff in the development of associationvalues can make all the difference. Many of today’s leaders are “wannabes,” says Haque. Leaders enrich us.”
As amazing as your member benefits and associationvalues are, membership dues can be a roadblock for potential members. You can even include it as a note on your member application or pricing page. And while there are many ways that you can help tear down this roadblock (discounted fees, payment plans, grants, etc.),
Now it’s how are we going to compete continue to compete as everyone gets into the game and they get over the learning curve and they begin to find all of these new tools that new price points that make it a lot more accessible to more people. Because Association These are weird. So I have an answer for that.
Did the local association need to better market the return-on-investment more effectively? Maybe, in fact, the product was simply over-priced. Maybe there just WASNT $431 in associationvalue once the MLS incentive was removed from the equation. “Thats not true in the case of our association.
Chances are, your association’s nonmember audience values very different things than you and your members do, those values are rooted in much deeper motivations than you suspect, and your position and experience hamper your ability to craft membership appeals in terms that address those foreign motivations.
In fact, our perceptions of value are becoming more sophisticated. Some experts define value as quality + price. There’s a new definition for value. Value is one part solution, another part story, another part experience. We have learned that more or bigger is not necessarily better.
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