Facing Economic Uncertainty - How membership organizations can weather the storm in 2023
It’s no secret that we’re in the midst of a volatile economic period. With inflation high, the cost of living rising, and threats of a global recession being bandied around, concern from organizations that rely on patrons’ disposable income is inevitable.
So, amid an unpredictable market, at a time when consumers are tightening their belts, how can membership organizations that rely on a steady stream of membership fees to survive, continue to attract and retain members?
The answer lies in membership organizations doubling down on their value proposition. In real terms, this means over-communicating with members, taking extra steps to engage them, and nurturing them more effectively. Read on for advice and examples of how you can incorporate these ideas into your strategy.