Customer experience (CX) has grown significantly in importance in recent years. It’s no longer just about providing a service or product, it’s about creating a memorable, positive experience that keeps individuals engaged and loyal.
In fact, according to Forrester, 41 percent of customer-obsessed companies achieved at least 10 percent revenue growth in their last fiscal year, compared to just 10 percent of less mature companies.
For associations - whose lifeline is their membership base - optimizing the customer experience (also known as the member experience) is critical to long-term success.
So, how can associations ensure they are hitting the mark with their customer experience and continually delighting their members (and prospective members)? Enter customer experience analytics.
By measuring analytics and pinpointing Key Performance Indicators (KPIs) that measure both current customer experience satisfaction levels and predict future trends, associations can ensure a proactive approach to member satisfaction.
Helpful Customer Experience Metrics
- Net Promoter Score (NPS): A metric that measures the likelihood of members recommending the association to others. It categorizes members as promoters, passives, or detractors based on their score.
- Customer Satisfaction (CSAT): This is a straightforward metric that asks members to rate their satisfaction with a specific interaction or overall service, typically on a scale from 1 to 5 or 1 to 10.
- Churn Rate: This metric represents the percentage of members who end their membership with an association within a specific period. A high churn rate can indicate dissatisfaction among members.
- Retention Rate: The opposite of churn, retention rate measures the percentage of members who continue their association over a specific period. A high retention rate is a positive sign of member satisfaction.
- Customer Lifetime Value (CLV): This metric calculates the total revenue an association can expect from a single member throughout their membership. A higher CLV often suggests that members find value in their association, leading to longer memberships and more financial contributions.
- Customer Effort Score (CES): CES gauges how easy members find it to interact with the association, whether it's signing up for events, renewing memberships, or accessing resources. A lower effort indicates a smoother, more positive experience.
How Customer Experience Analytics Helps Create a Happy Association Membership Base
Using the above metrics, associations can gain invaluable insights into the needs, preferences, and pain points of their members. But these metrics are more than just numbers; they offer a roadmap to tangible improvements.
For example, a low NPS might prompt the association to delve deeper into member feedback, identifying specific areas of discontent and addressing them proactively. Similarly, a high churn rate can indicate the need for a revamped membership engagement strategy or better onboarding experiences for new members.
By focusing on enhancing the customer experience, associations ensure they’re delivering value, fostering trust, and building a community. Happy members are not only more likely to renew their memberships but are also more likely to become ambassadors, championing the association to others.
Here are a few key ways customer experience analytics helps build a happy association membership base:
✔️ Enhanced Member Loyalty: By understanding and catering to member needs, associations foster deeper trust and commitment. Satisfied members are more likely to renew and stay long-term.
✔️ Higher Engagement Levels: Positive experiences drive member participation in association events, forums, and activities. Engaged members contribute more, from feedback to active involvement.
✔️ Refined Service Delivery: Using CX insights, associations can tailor their services, ensuring they’re meeting or surpassing member expectations. This leads to improved satisfaction and fewer complaints.
✔️ Increased Member Advocacy: Happy members often become association ambassadors, recommending the organization to peers and amplifying its reputation and reach.
✔️ Strategic Growth: With a strong grasp on CX metrics, associations can identify growth opportunities and areas for innovation, ensuring they evolve with members' changing needs.
Are you ready to spark growth for your association by enhancing the member experience? Get in touch with the Halmyre team of marketing and transformation experts today. Find out how our Marketing ROI Audit can help your organization learn what’s working, what’s not and how to improve the value of your marketing dollars.
