One of the most important elements of a successful association strategy is data. Data on membership, finances, engagement, messaging and more will help you determine if your group is failing or succeeding. It’s tempting to make decisions off of gut reactions or bypass the workload of data analysis, but taking the time to evaluate the numbers can truly make a difference.
Kissmetrics came up with an interesting infographic on key member metrics you need to be tracking. Check it out below. Although this graphic is targeted towards customers relationships with services and products, we can also use this workflow in relation to members and their relationships with your membership and association.
Image Credit: Kissmetrics
So what can we take away? Understanding the questions below…
- Why was a prospect attracted to your group initially?
- What convinced them to join?
- How satisfied are current members?
- How does member satisfaction or engagement affect to total ROI?
- What causes a high churn rate?
It’s not easy to answer these questions and there will always be a unique situation where the answer doesn’t relate to the end result. Do your best to track each item and use it when making important decisions.