4
ion)
MEMBER RENEWAL AND REINSTATEMENT
Do you offer any of the following renewal options? (Check all that apply.)
TOP RENEWAL OPTIONS
Total (n = 695)
Individual (n = 314)
Trade (n = 205)
Combination (n = 176)
Installment renewal payments (monthly, quarterly) Automatic annual credit card renewal
29%
29%
32%
25%
27%
37%
13%
27%
Multi-year renewals
22%
27%
11%
24%
Lifetime membership
15%
20%
4%
18%
Automatic annual Electronic Funds Transfer (EFT) renewals
12%
11%
16%
11%
Renewal bill-me
12% 10%
8%
15%
15%
Early-renewal discounts
14%
6%
9%
Gifts or premiums for renewal
5%
7%
2%
5%
None of these
32%
28%
41%
30%
y 32% of associations do not offer any of the listed renewal options. - This is especially true among trade associations, of which 41% do not offer any listed renewal options. y IMOs are significantly more likely to offer an automatic annual credit card renewal option (37% vs. 13% of trade associations and 27% of combination associations).
y 38% of associations seeing an increase in renewal rates have an automatic annual credit card renewal option. This is significantly more than among associations experiencing a decrease (26%) and among those reporting no change (22%).
TOP 3 RENEWAL OPTIONS BY SIZE: INDIVIDUAL TOP 3 RENEWAL OPTIONS BY SIZE: INDIVIDUAL
Up to 1,000 (n = 129) Up to 1,000 (n = 29)
1,001 to 5,000 (n = 135) 1,001 to 5,000 (n = 135)
5,001 to LT 20,000 (n = 116) 1. Automatic credit card renewal 5,001 to LT 20,000 (n = 116) 1. Automatic credit card renewal
20,000+ (n = 110) 20,000+ (n = 11 ) 1. Automatic credi card renewal 2. Multi-year renewal 1. Automatic credit card renewal 2. Multi-year renewal 3. Lifetime membership 3. Lifetime membership
y Larger IMOs (20,000+ members) are significantly more likely to use automatic annual credit card renewals than smaller organizations (49% vs. 28%). y Associations with larger budgets ($5 million+) are also significantly more likely to have an automatic annual credit card renewal option (36% vs. 21%). y Smaller budget associations (<$1 million) are significantly more likely not to offer any of the listed renewal options (42% vs. 29%).
1. Automatic credit card renewal 2 (tie). Installment payments 1. Automatic credi card renewal 2 (tie). Installment payments
1. Installment payments 1. Installment payments 2. Automatic credi card renewal 3. Multi - year renewal 2. Automatic credit card renewal 3. Multi - year renewal
2. Multi-year renewal 2. Multi-year renewal 3. Installment payments 3. Installment payments
2 (tie). Multi-year renewal 2 (tie). Multi-year ren wal 3. Lifetime membership 3. Lifetime membership
TOP 3 RENEWAL OPTIONS BY SIZE: TRADE TOP 3 RENEWAL OPTIONS BY SIZE: TRADE
Up to 100 (n = 64) 500+ (n = 191) 1. Installment payments 1. Installment payments 1. Installment payments 500+ (n = 191) 1. Installment payments 1. Installment payments 1. Installment payments 101 to LT 500 (n = 125) 101 to LT 500 (n = 12 ) Up to 100 (n = 64)
2. Automatic annual credit card renewal 3. Multi-year renewal 2. Automatic annual credi card renewal 3. Multi-year renewal
2. Automatic annual credit card renewal 3. Multi-year renewal 2. Automatic annual credit card renewal 3. Multi-year renewal
2. Bill-me 2. Bill-me
3. Multi-year renewal 3. Multi-year renewal
800.644.6646 | 703.739.1000 | WWW. MARKETINGGENERAL .COM
42
Made with FlippingBook Ebook Creator