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The Renewal Process Begins on Day One
The quality and timeliness of your acknowledgements, member services and member communications will definitely influence your retention rate.
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Market Your Benefits
There is a direct correlation between member participation and retention. Market your benefits. Actively encourage greater involvement. The perception of value in membership will rise and lead to higher retention.
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Prep the Process
A number of organizations have seen their retention rates increase with pre-approach emails sent and telephone calls made just prior to the first solicitation via direct mail.
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Segment Your Renewal Files
Segment your renewal files by level, expiration date, length and type of membership, and by any other criteria where like-minded members should receive appeals tailored specifically to their demographic/psychographic profiles and relationship with your organization.
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Add Variety to Your Direct Mail Series
Differences in format, color, letter text, and signatory will help provide the necessary variety among your direct mail renewal series.
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Personalize the Appeals
Personalize the renewal letters with a salutation, variable ask amounts, specific upgrade offer, and information related to the member’s use of or relationship to your organization. Personalize the renewal form with name and address, account number, appeal code, variable ask amounts, and specific upgrade offer.
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Upgrade
Invite your members to increase their giving, particularly during the early stages of the renewal process. Provide a clear rationale and offer incentives that include premiums or exclusive opportunities.
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Track Performance
Know your numbers! Track your renewal performance in detail so you know when to continue soliciting and when to stop; this will vary by segment. Such fine-tuning allows you to maximize your net income from renewals.
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Test
Like acquisition, testing in your renewal program will enable you to identify and rollout the most productive appeals. Unlike acquisition, the same test may need to be conducted over many months due to samples sizes and statistical significance.
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Use Multiple Marketing Channels
Don’t rely on direct mail alone. E-marketing, telemarketing, and on-site sales should all be included in your mix of marketing strategies to achieve the highest member retention possible.
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