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After a string of quarters that have been marked by stress and negativity, the 3rd quarter is a crucial time for the longer-term outlook of the economy that is based on membership.
Membership markets are currently experiencing one of the more difficult times in the past. As inflation rises, greater anxiety, and a more cautious consumer is driving the trends through 2022. These negative changes, along with intense volatility in the market for financial instruments have now trickled into nearly every sector.
Membership isn't just the only one. While the 2022 projections for revenue made during the membership boom in 2021 started to appear out of reach the course of this year, operators that manage memberships are forced to look closer to every facet of their overall strategy.
The way to put it is In simple terms: If you're an administrator, then the year 2022 will relentlessly challenge your beliefs frequently.
Every narrative that has been presented to date will have you believing that the remainder of 2022 is going to be very negative for members, and that we need to prepare for a downturn across all consumer sectors and in all industry and business.
But not so quick.
Are you looking for that moment?
It is true that in tough market conditions and in businesses, we constantly seek out indications, indicators and signals that suggest that turn points are imminent or close to being reached. While we don't usually know that a change has taken place until months , or perhaps weeks later after the event There's one factor that's usually associated with turns and it's the time of turning.
Q3 was the exact moment.
It was the time when the members' managers saw extraordinary favorable results, despite their negative feeling. This was the moment when the silence was more powerful than the chaotic. That was when the workers proved that their product was so valuable that they couldn't live without it.
This was the time when it was marked by discord.
The most significant risk facing companies that operate memberships during times of recession is to become overly negative. Members who were positive and committed to their company's prospects throughout the difficult year are continuing to develop the plans and strategies in anticipation of when exactly it would occur. Now that the third quarter is complete it is possible to look in the rear-view mirror and know with certainty that this is in fact, occurring.
The uncertainty creates opportunities
Our customers' memberships outperformed the market during the quarter's third. Within our whole portfolio, we've witnessed members set records in their earnings, retention rates, as well as the number of members. Staying in the right direction and not being affected by bigger news, our members were able to take advantage of the increase in membership we witnessed in Q3.
A well-planned and managed plan for membership is an essential element in member performance even in challenging environments. The best returns are coming from companies that choose to invest aggressively into their business when the economy is down, while remaining more cautious during periods that see growth accelerate. This strategy has allowed our customers to access cash available for investing in their business at times of opportunity like the ones we saw in the beginning of 2022.
Membership is a long game and customers who operate with similar mindsets will realize that outside uncertainty and moods that are negative create lasting chances for members to grow sustainably.
As a member-based company, you simply can't predict the time of upswings similar as those that we experienced in Q3 but you are able to anticipate them.
One thing you can guarantee is that moments like this are going to happen when you would least anticipate them to.
Continue to build.
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