Data is key to developing winning strategies around engagement and retention. Data from your CRM and other sources can be utilized in myriad ways. There’s no reason to gather everyone in the conference room and start writing down ideas on a white board without data to support them.
Before you launch into the development phase, I want you to look at these types of things from your data:
#1 Pull and review retention rate by dollars and retention rate by number of members.
- What’s the average length of membership?
- How many years are they staying, on average, in your organization? Critical to know.
- What’s the lifetime member look like? Review the whole membership engagement and relationship, not just membership in terms of dues.
- Can you slot, by each individual member, how much money they’re spending on dues and non-dues revenue by company?
#2 What is your super product? Where are people buying the most stuff from you? Is it a convention? Is it a certification? What is the super product? This is what you will speak to during your retention program, the super products.
#3 And, where are people participating? What’s their engagement? Where are they showing up?
By doing this, you will begin to see incredible trends in engagement into program interest. Turns this information into a retention process that really speaks to the members’ interests. We simply need to ensure we’re armed with this critical intel when cultivating our retention and engagement program. My sense is you are sitting on pile of information that really could help. Start digging!