What is Membership Renewals Management and How will it Help Your Organisation?
As membership is the lifeblood of many organisations your membership renewals management strategy is a critical one. The prompt, timely and proactive communication to your members throughout their membership but particularly in good time prior to their renewal date, provides many advantages:
- Membership renewals management is not only the structured communication strategy aimed at engaging members throughout their membership period so that they gain best value and increase their involvement in your organisation, but also producing timely reminder communications to ensure that membership is renewed and enjoyed without interruption using an agreed contact strategy.
- Well managed communication demonstrates that your organisation is organised.
- Your Members feel valued throughout the period of their membership so prompting them to ‘sign up’ again without hesitation.
- Reduce Attrition – Where a member may feel inclined not to renew upon notification of their renewal anniversary, it allows you time to communicate with them to understand why they may not wish to renew. Hopefully with a reversal of their decision be it through a renewed offer or a reminder of the benefits they receive.
- Measurement – Conversation prompted by such communication allows your organisation to measure the KPIs of membership to ensure that you are truly providing what your members both need and value.
- Revenue Forecasts – Keeping on top of your members renewals by sending renewal and reminder communications, be they electronic or physical mail, ensures that payments are received by your organisation on time and substantially reduce those ‘late payers’.
Recognise Your Member’s Contribution to Your Organisation
Everyone wants to feel important and valued. Renewal letters offer a great opportunity for you to make your members feel like an important part of the organisation. You can do this by making sure that the renewal letter recognises your members contribution. Here are a few simple sentences that can make a difference:
“Your membership has enabled us to accomplish so much this year”
“We could not have done it without you!”
“Through the support of members like you we were able to …”
Recap the Past 12 Months and Layout Future Organisational Plans
Get your members excited about their membership by reminding them of your major accomplishments in the past year and how it benefited them. Then let them know what great things are coming the next 12-24 months. Look further ahead than just an annual basis so that the member has a longer-term vision of their membership rather than purely an annual one.
When your organisation does so many great things it can be difficult to be brief. However, it is important that you respect your member’s busy schedules by keeping the renewal letter concise. Limit it to a few highlights reminding them of what they have gained and what you will be delivering in the forthcoming year.
Renewal letters are just a small part of member retention but can play an important role. Give your members the incentive to renew by personalising their renewal letters not just in the address but within the body of the text. Recognise their contribution to your organisation, recapping where they have personally benefitted during the past year and sharing ongoing and future benefits.