Calendar

This is our quarterly look at the current state of member base, in which we highlight patterns, trends , and highlights. It also reveals what's changing.

The beginning of 2022 was a continuation of clear patterns of the market for membership that were evident during the final quarter of 2021. In a digital landscape that's expanding rapidly, membership has proved to be an solid and steady source of income as we've seen the business model for membership flex its stability over the past several months.

Highlights

Continued member growth

In the fourth quarter of 2021, we saw a significant growth in the number of new members who joined. This pattern continued and picked up pace until Q1 2022 as consumers were coming back from vacation and going to work, school as well as other regular routines. A time of the year that attention from the consumer is generally difficult to achieve, there was an impressive increase for new member acquisition across all major categories of membership particularly in the months of January and February.

Resilience during headwinds

The month of March, we witnessed significant amounts of uncertainty added to the economy, which had a noticeable impact on consumer behaviour. Inflation and the conflict in Ukraine were two of the primary reasons that caused consumers to be more cautious. This has tempered the zones of growth were observed in January and February.

Although these macro trends are certainly impacting the membership landscape, we've seen the efficiency of the business model really shine as these headwinds begin to form.

Presently time, the majority of the impact we've seen has been focused on new member acquisition. Retention of members has been consistent, highlighting the resilience of membership as well as its importance within the larger strategy for business.

This also highlights the significance in structuring benefits for members in order to make sure that the benefit is regularly used by members. The memberships that can incorporate benefits into their daily or routines consistently see lower member loss and greater retention during times that are more uncertain which allows them to maintain income in addition to increase in membership.

What's happening?

A brand new trend

The world of membership change constantly. The online landscape is changing even more quickly. Our clients are constantly looking for innovative ways to grow, the importance of broadening their methods of acquiring members has never been more evident. Ad costs are increasing. Social media engagement has reached the point of no return. There is a decrease in the willingness of people to conventional marketing and acquisition methods.

What is the reason? Over the past two years, all of us have spent longer on the web than we ever thought possible. It was a fantastic opportunity to find information and participate in the general public. But, the long-term online experience has resulted in significant ad fatigue in the users (your possible clients).

People have been subjected to targeted ads with poor quality for many years that they don't even notice them now - and even less take action to remove the ads. Is advertising dead? No. In the context of the changing changes in the landscape, the economics and costs are no longer favorable for advertisers.

Member-driven growth

We are seeing the next stage of membership growth greatly influenced by our current members. True messages, trusted opinion and personal stories build instant confidence that motivates action.

Our recent introduction of Referrals is the first move toward developing solutions that will last for a long time and allow for leveraging the satisfaction and loyalty of your member base to generate additional revenue.

The strategies for referring customers to others are not only seeing less costs to join, but also the retention rate of members. The increase in retention due to referring members being offered discounts for membership once they have succeeded in the process of referring.

Members who receive recurring rewards for referring others are significantly less likely to experience churn and they are always motivated to refer additional customers. Incentivizing your members through reward for referrals allows them to go out and start the right conversations with the appropriate people, resulting in higher sales and lower costs.

The Takeaway

The changing landscape has been observed during the first quarter is an excellent illustration of the necessity of continuous building solid foundations in your membership. These foundations become the most secure place when you're in a state of uncertainty. let members do their greatest work. Run your membership in confidence.

While the landscape of membership changes and growing it is certain that there will be a constant element that could be used to grow your membership and that's the foundation of your existing members. Your continued commitment to providing them with superior service will build a level of trust which can eventually make them the most loyal members of your organization.

Do not lose sight of the seemingly small foundations inside your circle. These tiny foundations that will bring the biggest benefits.

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