06/23/2021

New Member Category Results in More Revenue

It can also result in happier members

Here’s a scenario: You create a new member category, rename it, introduce new benefits, double the price and people still sign up—and you meet all projections. Sound impossible? It turned out that way for the Intellectual Property Owners Association (IPO).

While looking at membership categories, Director of Membership Development Matt Rankin, CAE, and his team noticed a small business category that was not thriving in comparison to other ones, which were in the 80 percent renewal rate range.

When they dug a little deeper into the data, IPO discovered that they weren’t actual small businesses, in the way the group traditionally defined them. They were vendors who were joining IPO to attract customers—and when they didn’t find the resources they needed, they bounced.

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