By Katharine M. Nohr, J.D.
One of the biggest challenges that any professional organization faces is member retention. While IAIP offers many benefits to members, some choose not to renew due to economic hardship, job change, lack of employer support, burn out, or disenchantment. Consider how much easier it is to bring back former members than it is to recruit new ones. This is because former members have already experienced the benefits of being a member and are more likely to re-join.
This blog post addresses the benefits of bringing back former members to IAIP and how an “I miss you” campaign can be an effective way to accomplish this.
Benefits of Retaining and Bringing Back Former Members
- Cost-Effective
It is more cost-effective to bring back former members than it is to recruit new ones. According to a study by the Association of Fundraising Professionals, the cost of acquiring a new member is five times higher than the cost of retaining an existing one. This means that it is much more cost-effective to focus on retaining current and former members than it is to focus on recruiting new ones.
Better Likelihood of Success
Former members are more likely to re-join than new members are to join for the first time. According to a study by Marketing General Inc., the average renewal rate for association members is 85%, compared to a new member acquisition rate of only 30%. This means that former members are three times more likely to re-join than new members are to join.
More Engaged Members
Former members who re-join the IAIP are often more engaged and committed than new members. This is because they have already experienced the benefits of being a member and are more likely to be loyal to the organization. Additionally, former members who re-join may have new insights and experiences that can benefit the organization and its members.
Implementing an “I Miss You” Campaign
An “I miss you” campaign is a targeted approach to bringing back former members. The goal of the campaign is to reach out to former members and let them know that they are missed, and that the organization would love to have them back as members.
The first step in implementing an “I miss you” campaign is to identify former members who have not renewed their membership. This can be done by reviewing IAIP’s membership database. Once a list of former members has been compiled, the next step is to reach out to them.
There are several ways to reach out to former members, including email, direct mail, and phone calls. The most effective approach is to use a combination of these methods to maximize the chances of reaching former members.
Email is a cost-effective and efficient way to reach out to former members. The email should be personalized and include a message that lets the former member know that they are missed, and that IAIP would love to have them back as a member. The email should also include information about the benefits of being a member of IAIP, such as networking opportunities, educational resources, and leadership development.
Direct Mail
Direct mail is another effective way to reach out to former members. The direct mail piece should be personalized and include a message that lets the former member know that they are missed, and that the organization would love to have them back as a member. The direct mail piece could be in the form of a letter, post-card, or greeting card, and should also include information about the benefits of being a member of IAIP.
Phone Calls
Phone calls can be a more personal way to reach out to former members. A phone call allows for a conversation and provides an opportunity to answer any questions or concerns that the former member may have. The phone call should start with a friendly greeting and a message that lets the former member know that they are missed, and that we would love to have them back as a member. The caller should also be prepared to answer any questions the former member may have about the organization, membership benefits, or upcoming events.
Possible Effectiveness of the Campaign
While the effectiveness of an “I miss you” campaign will vary, there are a few factors that can increase its likelihood of success. One key factor is personalization. By tailoring the campaign to each former member, we can show that we value the individual and their membership. Another important factor is timing. Reaching out to former members at a time when they may be considering re-joining, such as when they are renewing their insurance license or looking for networking opportunities, can increase the chances of success. Finally, the quality of the communication and benefits offered can also impact the effectiveness of the campaign. By providing clear and relevant information about the benefits of membership, we can show former members why they should re-join and what they stand to gain from doing so.
Conclusion
An “I miss you” campaign can be an effective way to reach out to former members and encourage them to re-join the organization. The campaign should be targeted, personalized, and include a combination of email, direct mail, and phone calls. The benefits of bringing back former members include cost-effectiveness, better likelihood of success, and more engaged members. The effectiveness of the campaign will depend on various factors, including the quality of the communication, the relevance of the benefits, and the timing of the outreach. However, the statistics and studies indicate that bringing back former members is more cost-effective and successful than recruiting new members.
Find out more about IAIP’s current membership recruitment contest and how you can win!
Together We Succeed
The purpose of our 2023 membership campaign is simple: to drive new members to IAIP and recruit non-renewed members to return.
Grand Prize: your choice of a new iPad or Chromebook (donated by KnK Compliance)
How do you win?
Simply tell non-members and former members why they should join (or re-join) IAIP. Tell your story! What has your IAIP journey been? Explain to them how much value you have received as an insurance professional, how much IAIP has helped you grow as a leader or in your area of expertise. Tell them about all of the amazing new initiatives that IAIP has recently implemented.
The contest ends June 30 and the winners will be announced in July. Read the contest details and more information.
Katharine M. Nohr, J.D. is an insurance defense and worker’s compensation attorney, sports risk management expert and international speaker, author, and member of Honolulu Association of Insurance Professionals.