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1 ©2015 Hight Performance Group The VOI of Membership is Greater than the ROI 1 The VOI of Membership is Greater than the ROI

The VOI of Membership is Greater than the ROI

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Page 1: The VOI of Membership is Greater than the ROI

1©2015 Hight Performance Group The VOI of Membership is Greater than the ROI 1

The VOI of Membership is Greater than the ROI

Page 2: The VOI of Membership is Greater than the ROI

2©2015 Hight Performance Group The VOI of Membership is Greater than the ROI 2

Cathi Hight• President of Hight Performance Group• The member retention specialist• Developer of the Member Retention Kit• National instructor for the U.S. Chamber’s

Institute for Organization Management• Previous VP of Operations for the Chamber of

Commerce of Hawaii• Serves on Austin Chamber’s Member Relations

Council• Immediate Past-President of the Boulder Area

Human Resource Association (BAHRA)• Is a member of the:

Association Chamber of Commerce Executives (ACCE)American Society of Association Executives (ASAE)Texas Society of Association Executives (TSAE)Austin Human Resource Management Association (AHRMA)Greater Austin Chamber

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Session Objectives

• Discover the power of VOI and why it means more than ROI ever will

• Identify the top 12 VOI benefits associatons deliver to members

• Consider how to leverage your VOI to communicate the value of membership

• Explore how to develop a VOI campaign to recruit and retain more members

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The Challenge of Communicating Membership Value

• Members feel you communicate too much

• Members don’t open e-mails or read what you write

• Members don’t respond to opportunities or access benefits

• Members complain that they don’t receive value

• Benefits don’t resonate with prospects

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Why Communication Fails• People don’t care about you

until they know “What’s in it for Me?”

• People use selective listening due to over-stimuli, lack of perceived relevance and distractions

• If people have to work to translate what you mean, they tune out

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The “So What?” Factor• Key Takeaways from the book:

– We have fallen into the trap of selling what we think is important

– We sell features and not benefits that really matter to our audience

– We use MY language and not our that of customers’ or prospects’

– We don’t answer the “So What?” question and people stop listening

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7©2015 Hight Performance Group The VOI of Membership is Greater than the ROI

What Matters Most?Common Interests and Needs

Support a thriving local economyEducation, transportation, talent attraction, job creationPromote the local area and region

Influence a business-friendly environmentDevelop relationships with policy and regulatory decision-makersCreate a positive sentiment toward business

Develop a skilled existing workforceSkills development on current and emerging needsLeadership development for younger talent and succession plans

Provide support to growing enterprisesLocal and global visibility, advertising and marketing opportunities Cost savings, experts and mentors, and strategic connections

Create opportunities to build a local networkNetworking and events at no or low cost to schmoozeWelcome newcomers and start up businesses seeking connections

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Community Investors• Sustainable, thriving economy• Long-term vision for the area• Business-friendly environment• Support sustainability for all• Do the right thing (civic-minded)

Community Builders• Sustainable, thriving economy• Business-friendly environment• Community involvement for brand• Execute corporate initiatives• Workforce development

Business Investors• Lower operational costs, regulations • Advertising and marketing to drive

traffic and sales w/out involvement• Attract and retain skilled staff• Access to experts, best practices

Business Builder• Just-in-time marketing (leads=sales)• Pay by showing up• ROI with limited $ investment• Exposure, connections• Personal visibility

Member Profile Matrix—The 4 TypesGet Something Done Through You

Get Something for Their Business

I N V

E S

T E

D I N

V O L V E D

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The Role of Value Propositions• What’s a “value proposition” for associations?

A clear and succinct statement on the benefits of membership.

• Two types of value propositions

° General: Targeted for large audience (one size fits all)° Unique: Targeted for specific group/person (benefits are

specific to a group/person’s interests/needs.)

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Characteristics of Strong Value Propositions

• It must be about what matters most to the audience

• The “what” or feature is clearly stated• The benefit or “what do I get as a

result?” is spelled out• The language is mine, not yours, and

translation is not needed

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“So What?” is All About Benefits, Not Features

Association Features1. We hold a Meet the Legislators

forum each fall.2. We offer 4 different networking

events a month. Our After Hours Mixer alone draws over 150 people each month!

3. We hold a Business Expo each spring to promote our members.

4. We offer discounts for office supplies, shipping, and utilities.

So What? Benefits1. Get face-to-face with representatives at

the Meet the Legislators forum each fall and tell them how issues directly impact your business.

2. With 4 different networking events each month, you can access over 400 prospects for free or low cost to market what you offer! (BAH = 150 contacts @ $15!)

3. Our spring Business Expo attracts 4,000 prospects and high visibility for your business.

4. We increase your profits by saving you money on everyday business costs.

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General Value Propositions

• Are intended to serve a broad audience

• Are core benefits of the Association

• All members would value the benefits

• State the General Value1. What are the 3 key or

primary issues most businesses face?

2. What are the 3 things you do to address these issues?

3. State the issues and value you deliver in common business language.

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Format to Create General Value Propositions

Easy format for 45 second messages:1. Do you know how. . .?2. We. .

Other general value propositions:

We monitor actions by local and national policymakers and weigh in on issues that impact your business so you can grow and be profitable.

We work on attracting new employers to the area and help existing businesses expand and grow. This creates more jobs and increased prosperity for our community.

State the General Value1. What are the 3 key or

primary issues the majority of your audience faces?

2. What are the 3 things that you do to address these issues?

3. State the issues and value that you deliver in language common to your audience.

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Create Unique or Targeted Value Propositions

• Are intended to serve a specific audience or person

• Are specific benefits of the Association

• Only certain members would value the benefits

State the Unique Value1. What are the 3 key or

primary issues a specific type of member faces?

2. What are the 3 things you do to address these issues?

3. State the issues and value you delivers in language common to this audience.

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Examples of Unique Value Propositions

Do you know how costly it is for small, independent restaurants to advertise and promote specials on a consistent basis?

The Texas Restaurant Association offers low-cost advertising on our web site and in our directory to help downtown Austin restaurants reach over 2,000 people a month and generate traffic to the downtown area.

Do you know how hard it is for small manufacturers to train their staff and stay on top of all the new regulations?

The NAM offers timely, low-cost training made available by our generous sponsors so your staff can get the skills and information they need to do their jobs and comply with new regulations.

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Move from ROI to VOI to Communicate Value

ROI is about the bottom line

Value = $ invested – Hard Costs

Make the shift to VOI (Value on I______) where “I” is more than Investment

Value = Perceived Business/Personal Benefits

that go beyond Hard Costs

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Membership is All about the Value of I_________

• Investment: Direct return for dues/non-dues (sometimes)• Information: Unique sources, timely and for members only• Initiatives/Issues: Taking positions/ lead on what matters• Influence: Ability to persuade and affect outcomes• Impact: Direct result of initiatives, positive consequences• Introductions: Access to mentors, customers, peers• Interaction: Positive experiences, quality of conversations• Innovation: Cutting-edge ideas, opportunities, technology• Instruction: New skills or applications learned• Intelligence: New awareness, understanding, knowledge• Insights: Lessons learned, breakthroughs• Integration: Ability to implement ideas into business

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Strategies to Move from ROI to VOI

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• Discover members and non-members’ challenges, interests and perceptionso Surveys

o Interviews

o Quick Polls

o Phone Calls

o Focus Groups

#1: Know What Keeps PeopleUp at Night

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• Which sources of information from us do you value the most and why?

• Describe one initiative we led and how it positively impacted your business.

• What value do you receive from interacting with other members?

• How have we helped you to develop relationships with others in the industry/area?

• Describe something new you learned as a result of one of our educational opportunities and how it helped you or your business.

• What new ideas or perspectives did you learn about from other members that have been integrated into your business?

• What one thing do you value the most from your relationship with _____?

#2: Discover Your VOI

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# 3: Let Members Tell Your Story

• Interview “champion” members and showcase their businesses (use Flip video cameras)

• Showcase video and print testimonials on your website, newsletters, directory, etc. (ex. http://www.boulderchamber.com/)

• Ask VOI questions on social media platforms and allow members to comment

• Use the “So What?” language members provide and mirror it

• Create a FAQ on member benefits and feature responses from members who use those benefits

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# 4: Develop a VOI Campaign to Recruit and Retain Members

• Review existing marketing collateral (web pages, brochures, flyers) and evaluate if messages answer the “So What?” questions or has strong VOI benefits

• Rewrite marketing messages in language that makes prospects and members say, “I need that,” “Just what I’m looking for, “That’s why I’m a member!”

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Steps to Create a VOI Campaign

1. Determine which benefits resonate best with the 4 types of members– Consider specific benefits for each type of member

2. Use VOI statements to communicate your value propositions– Talk to members that represent each of the 4 types of

members and collect a testimonial that speaks to a VOI benefit they value

– Use their “language” so it will resonate with their peers– Post video clips on your website, YouTube and social

media sites– Use VOI statements in all marketing materials

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“Value is validated by a member’s willingness to exchange money or time

for something.” Road to Relevance

Do you communicate what really matters?

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Session Summary

• Value propositions sell the real benefits of membership in the eyes and language of members

• Strong propositions are unique to the Association and are focused on benefits that matter most to prospects and members (they answer the “So What?” questions)

• Communicate the Value of I__________ and realize that membership is much more than Investment

• Current members who get the value of membership communicate the messages the best!

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• Benchmarking and special projects• Onsite and virtual staff training• Board retreats and strategic planning

sessions• Membership retention plans• Conference presentations and

workshops• Books, webinars and articles on our

web site: www.hightperformance.com

• Contact us at (512) 354-7219 or at [email protected]

To Your Success!