Pricing Strategies for Professional Associations & Non-profits
Background
Most associations are struggling to retain members, a problem that the pandemic has exacerbated, as they invest heavily to support the shift to digital offerings. How can these associations retain and even grow membership numbers moving forward to justify these sizeable investments?
Until recently, most professional associations have placed a low priority on strategic pricing, resulting in a poor understanding of the value members place on their membership. Is continuing education as valuable as attending annual conferences? Are digital publications valued more than print? Are membership discounts even of consequence?
When there are too many offerings, it is exceedingly difficult to determine what exactly is driving membership rates and contributing to membership retention levels. Strategic pricing always takes value into account, so determining what different member segments (or groups of members) value is a critical first step when an association undergoes a pricing transformation.
