Sunday, January 2, 2011

Now is the time to start using a Membership Dashboard

One of the best tools I've found is a Membership Dashboard. We developed one here at MGI and pass it out for free to anybody who asks for it. It is a great diagnostic tool which WILL help you understand the ebb and flow of your membership, the impact of your promotions and help you enhance the effectiveness of future programs.

Since it is January 2nd, now is the best time to start. So, in case you're unsure as to where to start, a good Membership Dashboard will contain the following information:

  1. Total Members per Month 
    1. Current
    2. Same month last year
    3. Percentage increase/decrease
  2. Members Acquired per Month
    1. Current
    2. Same month last year
  3. Member Conversions per Month (1st year renewed members)
    1. Current
    2. Same month last year
  4. Renewals per month (year 2+ renewals)
    1. Current 
    2. Same month last year
    3. Members Renewed per Month
  5. Total Renewals per Month
    1. Total eligible (to renew)
    2. Total actual (that renewed)
    3. Total count

When set up properly, you can also set the dashboard up so that it will graphically display the results. As a practical tool, it may be easier for you to show a graph to your leadership than a series of numbers. Just a thought.

As I said earlier, we have one which I will be happy to send to you (it also is set up to graphically display the information).  Start 2011 by developing a tool you and your team will use.

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