The VOI of Membership is Greater than the ROI Hight Performance Group The VOI of Membership is Greater than the ROI 1

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1 The VOI of Membership is Greater than the ROI 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 1

2 Cathi Hight President of Hight Performance Group The member retention specialist Developer of the Member Retention Kit National instructor for the U.S. Chamber s Institute for Organization Management Previous VP of Operations for the Chamber of Commerce of Hawaii Served on Boulder Chamber of Commerce board and was the Member Council Chair, (focuses on building a sustainable membership base) Immediate Past-President of the Boulder Area Human Resource Association (BAHRA) Is a member of the: American Chamber of Commerce Executives (ACCE) American Society of Association Executives (ASAE) Boulder Area Human Resources Association (BAHRA) Boulder Chamber Greater Austin Chamber Society for Human Resource Management (SHRM) 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 2

3 Session Objectives Discover the power of VOI and why it means more than ROI ever will Identify the top 12 VOI benefits associations deliver to stakeholders Consider how to leverage your VOI to communicate the value of membership Explore how to develop a VOI campaign to recruit and retain more members 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 3

4 The Challenge of Communicating Members feel you communicate too much Members don t open s or read what you write Members don t respond to opportunities or access benefits Members complain that they don t receive value Benefits don t resonate with prospects Membership Value 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 4

5 Why Communication Fails People don t care about you until they know What s in it for Me? People use selective listening due to over-stimuli, lack of perceived relevance and distractions If people have to work to translate what you mean, they tune out 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 5

6 The So What? Factor Key Takeaways from the book: We have fallen into the trap of selling what we think is important We sell features and not benefits that really matter to our audience We use MY language and not our that of customers or prospects We don t answer the So What? question and people stop listening 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 6

7 What Matters Most? Common Interests and Needs Support a thriving local economy Education, transportation, talent attraction, job creation Promote the local area and region Influence a business-friendly environment Develop relationships with policy and regulatory decision-makers Create a positive sentiment toward business Develop a skilled existing workforce Skills development on current and emerging needs Leadership development for younger talent and succession plans Provide support to growing enterprises Local and global visibility, advertising and marketing opportunities Cost savings, experts and mentors, and strategic connections Create opportunities to build a local network Networking and events at no or low cost to schmooze Welcome newcomers and start up businesses seeking connections 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 7

8 I N V E S T E D Member Profile Matrix The 4 Types Get Something Done Through You Community Investors Sustainable, thriving economy Long-term vision for the area Business-friendly environment Support sustainability for all Do the right thing (civic-minded) Business Investors Lower operational costs, regulations Advertising and marketing to drive traffic and sales w/out involvement Attract and retain skilled staff Access to experts, best practices Community Builders Sustainable, thriving economy Business-friendly environment Community involvement for brand Execute corporate initiatives Workforce development Business Builder Just-in-time marketing (leads=sales) Pay by showing up ROI with limited $ investment Exposure, connections Personal visibility Get Something for Their Business I N V O L V E D 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 8

9 The Role of Value Propositions What s a value proposition for associations? A clear and succinct statement on the benefits of membership. Two types of value propositions General: Targeted for large audience (one size fits all) Unique: Targeted for specific group/person (benefits are specific to a group/person s interests/needs.) 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 9

10 Characteristics of Strong Value Propositions It must differentiate you from others It may match a competitor on some benefits but not all You must be exceptional in at least one benefit (the more exceptional you are in more than one, the stronger the value) It must be about what matters most to the audience 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 10

11 So What? is All About Benefits, Not Features So What? Benefits Association Features 1. We hold a Meet the Legislators forum each fall. 2. We offer 4 different networking events a month. Our After Hours Mixer alone draws over 150 people each month! 3. We hold a Business Expo each spring to promote our members. 4. We offer discounts for office supplies, shipping, and utilities. 1. Get face-to-face with representatives at the Meet the Legislators forum each fall and tell them how issues directly impact your business. 2. With 4 different networking events each month, you can access over 400 prospects for free or low cost to market what you offer! (BAH = 150 $15!) 3. Our spring Business Expo attracts 4,000 prospects and high visibility for your business. 4. We increase your profits by saving you money on everyday business costs Hight Performance Group The VOI of Membership is Greater than the ROI 11

12 General Value Propositions Are intended to serve a broad audience Are core benefits of the Association All members would value the benefits State the General Value 1. What are the 3 key or primary issues most businesses face? 2. What are the 3 things the Association does to address these issues? 3. State the issues and value the Association delivers in common business language Hight Performance Group The VOI of Membership is Greater than the ROI 12

13 Format to Create General Value Propositions State the General Value 1. What are the 3 key or primary issues the majority of your audience faces? 2. What are the 3 things that you do to address these issues? 3. State the issues and value that you deliver in language common to your audience. Easy format for 45 second messages: 1. Do you know how...? 2. We.. Other general value propositions: We monitor actions by local and national policymakers and weigh in on issues that impact your business so you can grow and be profitable. We work on attracting new employers to the area and help existing businesses expand and grow. This creates more jobs and increased prosperity for our community Hight Performance Group The VOI of Membership is Greater than the ROI 13

14 Create Unique or Targeted Value Propositions Are intended to serve a specific audience or person Are specific benefits of the Associaiton Only certain members would value the benefits State the Unique Value 1. What are the 3 key or primary issues a specific type of member faces? 2. What are the 3 things the Association does to address these issues? 3. State the issues and value the Association delivers in language common to this group Hight Performance Group The VOI of Membership is Greater than the ROI 14

15 Examples of Unique Value Propositions Do you know how costly it is for small, independent restaurants to advertise and promote specials on a consistent basis? The Texas Restaurant Association offers low-cost advertising on our web site and in our directory to help downtown Austin restaurants reach over 2,000 people a month and generate traffic to the downtown area. Do you know how hard it is for small manufacturers to train their staff and stay on top of all the new regulations? The NAM offers timely, low-cost training made available by our generous sponsors so your staff can get the skills and information they need to do their jobs and comply with new regulations Hight Performance Group The VOI of Membership is Greater than the ROI 15

16 Move from ROI to VOI to Communicate Value ROI is about the bottom line Value = $ invested Hard Costs Make the shift to VOI (Value on I ) where I is more than Investment Value = Perceived Business/Personal Benefits that go beyond Hard Costs 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 16

17 Membership is All about the Value of I Investment: Direct return for dues/non-dues (sometimes) Information: Unique sources, timely and for members only Initiatives/Issues: Taking positions/ lead on what matters Influence: Ability to persuade and affect outcomes Impact: Direct result of initiatives, positive consequences Introductions: Access to mentors, customers, peers Interaction: Positive experiences, quality of conversations Innovation: Cutting-edge ideas, opportunities, technology Instruction: New skills or applications learned Intelligence: New awareness, understanding, knowledge Insights: Lessons learned, breakthroughs Integration: Ability to implement ideas into business 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 17

18 3 Strategies to Move from ROI to VOI 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 18

19 #1 Know What Keeps Them Up at Night Conversations with members Interviews with nonmembers Focus groups Surveys Polls Social media discussions 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 19

20 Ask Questions Discovery Time What are the top 2 strategic initiatives your organization is focused on this year? What top 2 challenges are you trying to address over the next 9 12 months? Which top community/ industry issues should we be focused on? Which specific needs do you have that are not being addressed by any other organization in the area? I would become a member if you Hight Performance Group The VOI of Membership is Greater than the ROI 20

21 #2: Take a Hard Look at What You Offer Ask members if they value what you offer o Surveys o Interviews o Quick Polls o Phone Calls o Focus Groups 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 21

22 #3 Align Your Benefits for Access, Resources & Solutions Access for the specific needs of the type of member/prospect Resources that are available through people, partners, publications, and virtually Solutions that matter to the member/prospect Strengthening the local economy Building corporate brand Education/skills development Mentoring, counseling, experts Information (FYI, Just in Time) Visibility (marketing, exposure) Connections to the right audience Benefit Areas Tiered benefits model that align with interests, needs, budgets Unique opportunities through your relationships and expertise Web sites with self-serve opportunities (portals to members-only sections) Social networking (Special Interest Groups with exclusive access, collective content) Virtual events (e.g., webinars, webcasts, podcasts, conferences, forums, expos) Partnerships that deliver resources & value for specific business needs Online, virtual education, available 24/7 Buy/sell portals (for RFPs, quotes, barters) GIS services for competitive analyses, research Talent portals, assessments, internships Commercial property listings Solutions 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 22

23 #1: Ask Members About Your VOI Which sources of information from us do you value the most and why? Describe one initiative we led and how it positively impacted your business. What value do you receive from interacting with other members? How have we helped you to develop relationships with others in the industry/area? Describe something new you learned as a result of one of our educational opportunities and how it helped you or your business. What new ideas or perspectives did you learn about from other members that have been integrated into your business? What one thing do you value the most from your relationship with? 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 23

24 # 2: Get Members to Toot the VOI Horn Interview champion members and showcase their businesses (use Flip video cameras) Showcase video and print testimonials on your website, newsletters, directory, etc. (ex. Ask VOI questions on social media platforms and allow members to comment Use the So What? language members provide and mirror it Create a FAQ on member benefits and feature responses from members who use those benefits 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 24

25 # 3: Develop a VOI Campaign to Review existing marketing collateral (web pages, brochures, flyers) and evaluate if messages answer the So What? questions or has strong VOI benefits Rewrite marketing messages in language that makes prospects and members say, I need that, Just what I m looking for, That s why I m a member! Recruit and Retain Members 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 25

26 Steps to Create a VOI Campaign 1. Determine which benefits resonate best with the 4 types of members Consider specific benefits for each type of member 2. Use VOI statements to communicate your value propositions Talk to members that represent each of the 4 types of members and collect a testimonial that speaks to a VOI benefit they value Use their language so it will resonate with their peers Post video clips on your website, YouTube and social media sites Use VOI statements in all marketing materials 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 26

27 Value is validated by a member s willingness to exchange money or time for something. Road to Relevance Do you provide benefits that members value? 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 27

28 Session Summary Value propositions sell the real benefits of membership in the eyes and language of members Strong propositions are unique to the Association and are focused on benefits that matter most to prospects and members (they answer the So What? questions) Communicate the Value of I and realize that membership is much more than Investment Current members who get the value of membership communicate the messages the best! 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 28

29 To Your Success! Benchmarking and special projects Onsite and virtual staff training Board retreats and strategic planning sessions Membership retention plans Conference presentations and workshops Books, webinars and articles on our web site: Contact us at (512) or at 2013 Hight Performance Group The VOI of Membership is Greater than the ROI 29