Calendar

This is our monthly dive into the state of our membership. we discuss trends, news and more.

The start of 2022 is proving to as an extension of clear patterns in the market for membership that appeared at the close of 2021. In a digital world, with technology advancing rapidly, the membership model remains a an enduring and reliable source of income since we've witnessed the membership business model flex its stability in recent times.

Highlights

Membership growth continues to increase

The fourth quarter of 2021 was the time we observed a significant increase in new member acquisition. The increase continued to rise as it grew into the first quarter of 2022 as people were coming off holidays and returning to school, work as well as their normal schedules. An time of the time when consumer interest is usually more difficult to find however, there was a significant increase for new member acquisition across all major categories of membership - particularly in the months of January as well as February.

Resilience during headwinds

In March, we saw significant amounts of uncertainty injected into the broader economic landscape and had an impact which was evident in consumer behaviour. Inflation and the conflict in Ukraine are the main factors that caused consumers to be more cautious. The changes have slowed the growth in those areas that we observed in January into February.

These macro trends definitely have affected the world of membership, we've witnessed the efficiency of the business model really stand out in the midst of these challenges.

As of now, the majority of the transformation we've observed is primarily restricted to the acquisition of new members. Member retention has remained steady, highlighting the resilience of membership as well as its importance in a larger strategic business plan.

It also reinforces the importance of structuring benefits for members in order to make sure that the benefit keeps members engaged regularly. Members who are able to incorporate benefits into the member's routine will are able to have less turnover and higher retention, even in times that are more uncertain, thereby providing sustainable revenue and the potential for growth for members.

What's going on?

Fresh and exciting scene

The membership landscape is always changing. The landscape of membership is evolving even more quickly. As our customers explore possibilities to grow in the near future, the importance of expanding their strategies for acquiring members has never been more evident. Ad costs are increasing. Social media engagement has reached a peak. Consumers are becoming less receptive to traditional marketing and acquisition strategies.

What's the cause? Over the past two years, everyone of us have spent much more time on the internet than we thought was likely. This was a fantastic moment to explore content and for membership in general. But, the extended internet experience has created the impression that people are tired of ads (your prospective customers).

The general public has been exposed to poorly-targeted advertisements for a long time, and people don't even notice - or even take any steps to remove these ads. Is advertising dead? No. With regard to the changing landscape, the cost and costs don't favor the advertiser.

Member-driven growth

The next phase of growth in membership is led by current members. True messages, honest opinions , and personal experiences create an immediate trust that inspires actions.

Our recent introduction of Referrals is the initial step in creating solutions which can improve the trust and satisfaction of your member base to bring in additional sales.

Referral strategies of customers have not just resulted in lower cost of joining, and retaining members. The increase in retention could be attributed to referral members who receive discount memberships when they make an effective referral.

Rewards to members who earn monthly payments from referring other people are significantly less likely to get churned and they are always driven to refer more people. Incentivizing your clients through referral rewards allows them get to engage with the right people, which results in increased sales and a lower cost.

The main message to take away

The shift in the landscape over the course of Q1 is an evident illustration of the necessity of continuously building sustainable base within your membership. These foundations become a safe haven during periods that are uncertain, and allow you to carry on doing your very best and lead your company in confidence.

The landscape of membership changes and growing , membership will always be a opportunity to grow and expand the base of current members. A constant focus on serving members first creates an atmosphere of trust which will eventually lead to them becoming the most loyal supporters.

Pay attention to the little bases within your business. These tiny foundations which can lead to the most significant wins.

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