Membership means benefits. Whether you’re eight years old and want to join the Boy Scouts to roast marshmallows on camping trips or 58-years-old buying a membership package to your local theater, membership means giving something to get something in return. Are you offering your members enough incentive to stick around?
At the recent Bridge to Integrated Marketing Conference in National Harbor, Md., “How Cutting-Edge Data Analytics Can Revolutionize Your Membership Program,” led by Laura Zylstra, League of Women Voters of the US, Myles King, The John F. Kennedy Center for the Performing Arts, and Allison Porter, Avalon Consulting Group, addressed incentivizing members to renew. Through a case study of the Kennedy Center, the trio discussed:
- The Kennedy Center’s main challenge was continuing to grow members and revenue without dependency on blockbuster shows;
- A deeper analysis showed that web joins increased the most for blockbuster shows and had significantly lower retention rates. These members were more transactional in nature than other members;
- Using data modeling, they were able to identify the best ticket buyers and lapsed members, improving the performance of these groups; and,
- Making strategic adjustments, such as utilizing a first-year cultivation postcard including information for the following season’s attractions, helped Kennedy Center retain members that might otherwise drop off the file.