Technology is evolving at an alarming rate. Does your traditional, one-size-fits-all membership model align with your members’ changing expectations driven by technology?
Innovative companies like Amazon and Netflix have dramatically altered our expectation of online and on-demand experiences. The technological shifts your association is experiencing (and the experiences your members expect) is a natural response to the underlying shift in these business models for companies.
YourMembership’s whitepaper about adapting your membership models walks you through one example—the Netflix vs. Blockbuster story. It identifies how Blockbuster failed to change their business model, which ultimately lead to its bankruptcy.
Banking on consumer convenience was a key driver to Netflix’s business model. In 1998, Netflix launched a distribution model which delivered a movie rental experience directly to your doorstep. Netflix continued this thread of convenience into its online streaming service.
How does this impact associations?
Your members now expect the same conveniences through their personalized, digital experience with your association. So, associations are now challenged to develop and implement a business model which embraces new and emerging technologies.
Offering a portfolio of membership options to your members provides them with the ability to pick the package which best suits their needs and budget. It can also help boost your membership growth, engagement and overall association revenue.
One such membership model to consider is subscription-based. For-profit companies like Netflix, Amazon and Dollar Shave Club have championed this model and have substantially grown their revenue applying it. This model, which translates well for a convenient online user experience, is adaptable for emerging technologies. It also gives your association the ability to grow non-dues revenue by offering digital content to keep your members coming back to your site.
Offering a variety of membership models to your members not only provides them with the ability to pick the package that best suits their needs and budget, but can also help boost membership growth, engagement and overall revenue.