Navigating membership retention and fee increases: a practical guide

Balancing member retention with the need to increase fees can feel like a tightrope act. On one side, you want to sustain your organisation’s financial health; on the other, you risk alienating members already feeling the strain of rising costs.

So how do you navigate this tricky terrain? Let’s explore some ideas and insights for associations looking to maintain strong member connections while addressing financial realities.

Understanding the fee increase conundrum

Many associations face a natural dilemma: balancing the need to raise revenue through membership fee increases with the reality that many members cite budget constraints as a key reason for not renewing. It’s a delicate balancing act, and fee increases can feel like walking a financial tightrope.

While raising fees might be necessary to cover rising operational costs, it also risks prompting members - already scrutinising their expenses - to rethink their membership. 

Striking the right balance between financial sustainability and meeting member expectations is obviously important for the long-term success of any association.

Rethinking the approach to driving association revenue

Before implementing a fee increase to increase revenue, consider alternatives that could help cushion the impact for your members:

• Increasing revenue from events: could you offer more sponsorship opportunities at your events? Could you run more events, or increase event ticket prices, rather than membership fees?
• Audit your costs: review operational expenses and identify areas for savings, such as through automation.
• Streamline technology: consider using SwiftFox’s all-in-one solution to replace multiple systems, saving time and money.
• Create new revenue streams: explore offering paid premium content, sponsorship opportunities, or exclusive merchandise to diversify income.
• Tiered membership options: consider introducing flexible pricing levels to make membership accessible to those on tighter budgets while still offering premium options.

Addressing forgetfulness: a key barrier to retention

Did you know that a significant portion of association members who don’t renew simply forget?

Life gets busy, and renewing a membership can simply slip through the cracks. Luckily, this challenge has straightforward solutions:

• Automate reminders: SwiftFox automations can send timely emails and SMS to remind members about their renewal deadlines.
• Escalate with calls: after emails and texts, SwiftFox Calls can help follow up with a personal touch, making it more likely that members will renew.
• Simplify the process: streamline your renewal system to make it as easy as possible for members to stay on board, with one-click renewals and flexible payment methods.

Associations can use emails and texts to follow up with members initially, reserving calls as an escalation step. This layered approach ensures efficient resource use while still keeping the process personal.

Enhancing your membership value proposition

When members don’t see value in their membership, they’re less likely to stay. Here’s how to address this:

• Ask for input: regularly survey your members to understand their needs and tailor your offerings accordingly. SwiftFox has a powerful form builder built in, so you can easily ask your members for their views.
• Highlight benefits year round: use multiple channels like newsletters, social media, and your member portal to showcase exclusive perks, events, and training opportunities.
• Add value effortlessly: leverage SwiftFox automations to deliver personalised member experiences, from customised content recommendations to reminders about upcoming CPD opportunities.

Engaging members year-round

Retention isn’t just about renewal time - it’s a year-round effort. Keeping members engaged can reduce churn and increase satisfaction. Consider these strategies:

• Host frequent touchpoints: regular webinars, networking events, or online discussions can keep members involved.
• Share success stories: spotlight members who have benefited from your association, inspiring others to see the value in staying.
• Use analytics to guide engagement: SwiftFox CRM can help identify which members are most active and which might need a little extra attention, allowing you to tailor your outreach.

Streamlining retention with technology

The right tools can make a world of difference in how effectively you engage and retain members. Here are some ways SwiftFox can help:

• Effortless automation: streamline routine tasks like sending reminders, managing renewals, or updating member records.
• Targeted engagement: use analytics to segment your audience and deliver personalised communications that resonate with specific member groups.
• Enhanced follow-ups: SwiftFox Calls allows you to efficiently follow up with members, whether they’ve missed a payment or need a nudge to renew.
• Scalable solutions: as your association grows, SwiftFox grows with you, ensuring you’re always equipped to meet member needs.

Creative incentives for renewals

Encouraging renewals can sometimes require a little extra motivation. Consider these ideas:

• Early renewal discounts: offer a reduced rate for members who renew well before the deadline.
• Exclusive rewards: provide access to premium content, event tickets, or recognition programs for renewing members.
• Referral bonuses: consider incentivise members to bring in new members, creating a win-win scenario to drive growth in your membership.

Associations powered by SwiftFox

Many associations face the dual challenge of retaining members while dealing with rising costs. However, by adopting SwiftFox, associations can simplify their tech stack, reducing overheads and freeing up valuable resources.

Automated reminders help minimise renewal drop-offs, saving staff time and ensuring no one slips through the cracks. Plus, with SwiftFox Calls for follow-up, retention rates get an additional boost. This streamlined approach allows staff to focus on creating fresh member benefits, leading to greater satisfaction and, ultimately, a boost in revenue.

In summary

Retaining members while managing fee increases can be tricky, but it's certainly achievable. By addressing issues like forgetfulness, clearly demonstrating value, and using the tools built into SwiftFox to optimise operations, associations can build stronger member relationships and ensure financial stability. 

It all comes down to effective communication and smart planning - two things every association can master with the right tools and mindset.