 What is a CRM? What is a reoccurring member? If you are new to memberships, we've got your back. Think of this as the cheat sheet you refer to before saying something embarrassing in front of an important crowd... and we have added tips along the way! ___________________________________________________ Automation Automation describes a wide range of technologies that reduce manual processes, namely by predetermining decision criteria, relationships, and related actions. Of course, our favorite automation tool is zapier. AMS AMS is an Association management system to support association operations. Capital Campaign A capital campaign is a large-scale effort conducted by a nonprofit organization in order to bring in a large injection of capital investment. (If you are a HubSpot user, may we suggest trying Fundraise Up? We are pretty big fans.) Churn Rate Churn is the term used when a member ends their subscription. The total number of churned members over a given period of time – when calculated as a percentage of how many members you started that period with – gives you your “churn rate”. So if, for example, you start August with 100 members, and 10 of those members leave during the month, then your churn rate is 10%. You want your churn rate to be below 10% at most. (PS: As fellow geeks, we totally loved this definition from Membership Geeks and give them full credit.) CRM A CRM is a customer relationship manager. (If your wondering what's makes this different than a donor management software, AMS, or membership system we did an entire blogpost about it, but spoiler the key is in the name) Crowdfunding Crowdfunding is the practice of funding a project or venture by raising money from a large number of people, typically via the internet. Crowdfunding is a form of crowdsourcing. Demographics These are the statistic of your membership, including data on gender, race/ethnicity, sexual orientation, estimated wealth, type of employment, and member status, etc. Donor Management Donor management is the process of leveraging your donor data to build relationships with your supporters. A donor database, such as a CRM and donor management platform, is the best way to keep your donor data organized and nurture your relationships.  Drip Campaign An email campaign that helps ensure engagement with members over a long period by sending a series of messages to their inboxes. Engagement The process of interacting with a member in order to produce ongoing value for that member. Email Marketing Email marketing is a form of direct marketing that uses email to promote your business's products or services. Five types of emails include newsletter emails, lead nurturing emails., promotional emails, milestone emails and survey emails. Personally, we are big fan of mailchimp for most of our email marketing needs. Event Management System An event management system is a tool to help in the planning and managing large events such as conferences, trade shows, classes and parties. Hosting events is one of the most important things you can do to engage your members. Events connect donors to your mission and they can empower donors to give more money and invite their friends, family, and colleagues to do the same. Exit Survey A survey given to members as they leave the organization. This type of survey is important for improving future offerings. Gated Content Gated content is online materials, such as white papers, articles and videos, that require that users fill out information before they can access them. Gated content is often used to generate leads or add value to membership. Onboarding The process you have in place to help your new members acquire the knowledge and skills that they need in order to make the most of membership. This process also allows members to learn about your organization, its values and perks, while giving associations the opportunity to create a relationship with new members, and make a great first impression. Member Directory A member directory is a list of your organization's members, along with their basic contact information. Common data in an online member directory includes: Member name, email address, social media handles, geographic location, professional title and workplace, optional information such as academics, intersts, etc. Member Journey A member journey is your customer's experience with your organization. Five common stages of the member journey is awareness, consideration, purchase, retention and advocacy. For nonprofits, this is often how your member moves through your donor cycle. Retention Member retention is the measure of how many of your members keep their membership active. The importance of member retention cannot be underestimated. Even a small 5% increase in membership retention can result in between a 25% and 95% increase in profits over time. We recommend your membership retention goal to be at least 75% or higher. Segmentation The process of grouping contacts based on common characteristics so organizations can market to each group effectively and appropriately. Private Community A forum or similar digital discussion hub where association members can engage with fellow members on issues relevant to their field or organization. Comments are closed.
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