MGI: The Economics Of Membership

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Information about MGI: The Economics Of Membership

Published on July 8, 2008

Author: Rossell



'Know the numbers' is the best advice that anyone can give you when it comes to membership marketing. Knowing the numbers can help answer key marketing questions like: 'What is the value of a member?', 'How much can I afford to spend to obtain a member?', and 'What is my membership retention rate?

The Economics of Membership Presented by Tony Rossell Senior Vice President

Our Plan for Today • What you will learn from this session • Theory of Membership Economics • Application to your Client Associations • Group Practice and Strategy Implications

Key Membership Calculations • Response Rate • Cost to Obtain a Member • Renewal Rate • Average Tenure • Lifetime Value • Maximum Acquisition Cost • Steady State Analysis

Response Rate Response rate measures the number of prospects who responded to a marketing effort. – Total number of responses / Total number of prospects contacted X 100. – Example: (250/ 50,000) x 100 = .50%

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