So How Do You Keep Your New Members Engaged?
Have you noticed that your new association members don’t renew at the same rate as your established members? Well you’re not alone. Low retention rates among first year members is a common problem among associations worldwide. Qualitative interviews of 345 association members conducted by Kaiser Insights LLC, indicate that the prime cause of this disparity is that a growing number of new members do not perceive value in their membership or have a weak member experience. These poor value perceptions and experiences can leave new members feeling disappointed and let down, ultimately leading to non-renewal of their membership. The end result? The association misses out on creating a life-long member, a future industry leader and an advocate.
The cost of new member acquisition is high. Yet every year, as many as 30% of first-time members slip away. Imagine if you could improve your new member retention by 15% or 30% or even 50%?
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