How analytics help strengthen member relations

Analytics are having an impact on member and customer relations in ways we could never have imagined just a few years ago. From streamlined access to membership records to predictive modeling, most organizations stand to benefit from the deluge of new information in one way or another.

For many, the challenges come in screening out irrelevant data, using the most valuable parts and minimizing overhead costs in the process.

Using behavioral triggers

Behavioral triggers are used to examine member-specific interactions and respond accordingly. That often involves automated systems that operate behind the scenes, such as a button on your website that allows a user to join your mailing list.

Association staff who analyze and monitor those triggers, however, stand to gain tremendous insight into member behaviors, trends and patterns. Such information helps association executives gain a new perspective on the current market, including the common needs of their target demographic, and they can help forecast potential moves in the future.

Improving member engagement

Associations and member-based organizations are using data analytics to bolster membership engagement to all-new highs, and in fun and exciting ways. Associations and member-based organizations even share the data they've collected with their members to produce quality.

Using an example from agriculture, in one case area farmers increased yields from an average of 150 bushels per acre to nearly 200 simply by following the recommendations of data-driven surveys and studies. More importantly, associationbs have used survey and study data to develop stronger bonds with members while assuming advisory or leadership roles with volunteers.

Identifying and maximizing new revenue streams

Data analytics can also open the door for many brand new revenue streams. There are several methods for identifying and tapping into those avenues:

  • Communicating with members and staff - Don't underestimate the benefits of communicating with your members and staff. Apart from uncovering new revenue streams, the analytics can help identify opportunities to upsell members on new products or continuing education credits as well as create new product bundles or sponsorship packages to expand your association's existing revenues. This is important to maximizing profitability.
  • Strengthening promotional campaigns - Associations are using verifiable facts and hard statistics in promotional campaigns more than ever. Not only do they establish the association as an expert in the field, they can help locate new revenue streams in the process. By leveraging related studies, complementary facts and even redundant sources of information, you can gain valuable insight into new products, services and solutions that may interest your current demographics.
  • Improving product management - Next-gen data analytics help you manage your current product lines and give you further insight into their popularity. Those numbers are critical when prioritizing production schedules, coordinating advertising campaigns and increasing sales in general. Moreover, they help you spot service gaps and give you greater control when it comes to creating new products and solutions.

Now that you have a better idea of how data analytics can have an impact on member relations, now's the time to put that knowledge to good use. For more information, or to get started with an association management solution that understands your needs, contact the experts at Impexium today!