Association Management Trends 2024
New Directions In Membership
RAPID CHANGES IN ASSOCIATIONS
The landscape for associations has been transformed drastically, with changes occurring at a pace not seen in the last two decades. Associations are grappling with changing member expectations. The landscape for associations has been transformed drastically, with changes occurring at a pace not seen in the last two decades. Associations are grappling with changing member expectations and recovering from the pandemic-induced losses. There’s a pressing need to diversify revenue and membership to ensure sustainability. Amidst these challenges, there’s a silver lining – a realization that change, collaboration, and quick action are possible, fostering optimism. A robust economy is seen as a beacon of hope for membership growth.
There's a pressing need to diversify revenue and membership to ensure stability.
REBOUND IN MEMBER GROWTH
After a decline in 2021 and 2022, associations are witnessing a significant rebound, with member growth rates reaching their highest since 2016. The MGI 2023 Membership Marketing Benchmark Report found that 49% of associations report growth, contrasting to 26% in 2021. The median increases are 6% annually and 12% over five years. Notably, the median renewal rate is steady at 81%, with first-year renewals at 63%, indicating that new member acquisition is a critical driver of this resurgence.
EVOLVING MEMBERSHIP MODELS
KEY INDICATORS AND DRIVERS OF ASSOCIATION GROWTH
Associations experiencing growth share common traits: a compelling value proposition, an influx of new members, and the development of new benefits. High overall renewal rates (over 80%) and first-year renewal rates (over 60%) are strong growth indicators.
Moreover, associations with a higher proportion of millennial members are seeing growth, whereas those with predominantly boomer members are declining. This demographic shift underscores the importance of evolving association offerings to meet changing preferences.
Diversifying Revenue and Membership Strategies
ACROSS-THE-BOARD DUES INCREASES
Forward-thinking associations are redefining their value propositions to ensure their long-term sustainability and relevance.
ALL-INCLUSIVE MEMBERSHIPS
NON-MEMBER ASSOCIATES AND CREDIT-BASED MEMBERSHIPS
PRACTICE MEMBERSHIPS
Revolutionizing Association Management with AI
Artificial Intelligence (AI) has ushered in a new era of association management trends, offering unprecedented opportunities to enhance operational efficiency, member engagement, and personalized communication. In this transformative landscape, AI is not just a technological advancement; it’s a strategic ally that enables associations to navigate the complexities of modern member expectations and competitive pressures. Through AI-powered member segmentation, content personalization, and predictive analytics, associations are leveraging AI to streamline operations, craft tailored member experiences, and drive growth in innovative and impactful ways.
AI FOR MEMBER SERVICE
In this transformative landscape, AI is not just a technological advancement; it's a strategic ally.
AI FOR MEMBER COMMUNICATION
AI FOR MEMBERSHIP MARKETING
SIMULATING MEMBERS: DIGITAL TWINS
For more on AI in associations, please see From Mundane to Magical: How AI is Reshaping Association Management.
Conclusion: A Forward-Looking Approach
As associations navigate through the changes 2024 brings, the key to success lies in embracing innovation, leveraging technology, and remaining adaptable to the evolving needs of their members. By reimagining their value propositions, diversifying revenue streams, and harnessing the power of AI, associations can ensure sustained growth and relevance in an increasingly dynamic environment. The future for association management trends is not just about adapting to change but thriving through innovation and resilience.
