I was asked the other day, “How should we handle new membership recruitment going into the fourth quarter?” Got three tips that immediately came to mind that I hope you find helpful.
First, make an offer to companies – ones that are displaying interest or those that are already in the pipeline – to do 15 months of membership for the cost of 12. In other words, give the rest of this year free and then bill them for next year. Fifteen per twelve has always been successful for us in trade association sales.
Secondly, collect some of the money up front. Ensure that the company will be around in 2021 by ensuring that they put some earnest money into it. Ask them for a portion of the dues this year and then bill them for the remainder in 2021.
Third, make sure you’re recruiting your suppliers. Think about how you might add a little bit of incentive – or an added benefit – to them. It’s likely that some of the value proposition around advocacy and things like that may not be what they’re particularly interested in but they’re thinking about how they’re going to grow their business and how they might reach your industry and market to them in 2021. So, on top of the 15 for 12 month membership deal, I would add a basic level sponsorship – or some kind of small marketing benefit – that they wouldn’t get normally. What this does is it demonstrates that you’re there to help them grow their business. Provide them with a benefit that doesn’t cost you a lot of money; this can be your basic level sponsorship, like a logo placement on your virtual event. Make the sponsorship opportunity part of your offer to new members that are willing to sign up in Q4 of 2020.
Often, the fourth quarter is very good for membership recruitment and this year it may be more important than ever before because you need the cash.
Hope this is helpful. Go get ’em.
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