Everyone's heard the phrase, "a penny saved is a penny earned." But how many pennies is a saved member worth? Numbers and history show that small increases in your retention rate can translate to huge increases in your budget.
The MC Trade team frequently hears associations say they understand the reasoning behind a Retention Strategy, but that they've failed to build and implement one. Many times this lack of action is because of a lack of a true understanding of the impact increasing your retention rates can have. Our guide to Understanding the Dramatic Effect of Member Retention offers you help in both cases:
- A detailed, mathematical model of how retention rates translate to dollars
- A clear Retention Template you can use to start your own program
Click below to download our Understanding the Dramatic Effect of Member Retention guide.