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 After a string of quarters that have been marked by uncertainty and negativity, Q3 marks a significant development for the medium-term outlook on the membership economy.

The membership economy has been experiencing one of its most turbulent times in its history. Inflation is rising, there's more risk of uncertainty, and a more preoccupied consumer have been driving the trends through 2022. The repercussions of these changes, along with fierce volatility in financial markets are now affecting nearly every sector.

The same goes for membership. And while 2022 revenue projections created during the membership boom of 2021 quickly began to seem out of reach the year, members were forced to think deeper than ever before into every aspect of their overall plan.

To put it simply In the simplest terms: If you're a member operator, 2022 has consistently test your belief repeatedly.

Each and every story up to this point would have you believe that 2022 is going to be extremely negative for membership and we need to be ready for a slowdown across all consumer sectors as well as in every industry and business.

It's not that easy.

In search of the perfect moment

It's true that in tough economic and business environments, We always seek out signs, signals and evidence that the turning point is either near or upon us. And while we often don't know that a change has taken place until weeks and months after it happens There's one element that always coincides with such pivotal moments - the moment.

The Q3 moment was exactly that.

It was a moment where members' managers saw extremely positive outcomes despite extremely negative sentiment. It was a time when the silence was louder than the chaos. It was a time when operators confirmed the value of their product that customers simply couldn't be without it.

It was a point in the divergence.

The biggest risk for membership operators during economic slowdowns is that they become too negative. Customers who were steadfast and confident about their businesses during this tough year continue to create, plan and plan ahead for this event without knowing the exact date it might happen. With Q3 now complete, we're able to look into the rearview mirror and say with confidence that it is, indeed, taking place.

Uncertainty creates opportunity

The memberships of our customers outperformed the market in the quarter ended March. Across our portfolio, we've seen these memberships break records for their revenues, retention rates and member counts. Staying the course and remaining not influenced by the larger storylines enabled our clients to benefit from the growth in membership we saw in the third quarter of this year.

The sound management of the overall membership strategy proves to be an important factor in membership outcomes in challenging landscapes. Our research shows the highest returns being realized when members opt to invest heavily in their operations during downturns but remain more cautious in times of rapid growth. This approach has enabled our clients to have funds available to invest in their business at the right time such as those we witnessed in the beginning of 2022.

The game of membership is long and those who have the same mindset will find that outside uncertainty and negative moods create long-lasting chances for sustainable growth in membership.

As a membership operator You can't know the exact timing of upwards and downswings such as that we experienced during Q3 however you are able to anticipate them.

The only guarantee you have is that moments like this occur just when you most think about them.

Keep building.