The average retention rate for members is 84 percent, but the average retention rate for new members is only 70 percent, according to the 2018 Membership Marketing Benchmarking Report from Marketing General Incorporated (MGI). It gets worse for associations with more than 5,000 members— their average new member retention rate is less than 60 percent. The most commonly cited reason for non-renewal is “lack of engagement with the organization,” according to the MGI report.
No matter the size of your association, you must have a tactical plan to increase member engagement especially in the first year of membership as it is the most crucial to building a solid relationship with new members. To do this, start with a new member onboarding plan. Having a new member onboarding or engagement plan helps you learn about a member's interests, needs, and goals so that you can immediately help and educate them on how to get value from their membership in a way that works for them. With this approach, come renewal time, they won’t think twice about making another dues payment.
Download this white paper to to learn how to create a new member onboarding plan to establish the right foundation with new members and boost retention rate.