If you run your own membership business, you probably know that the key to sustained growth is investing in the right areas.
You don’t have to spend a lot of money. You just have to spend the right amount in three important categories:
- Research and development. Watch your numbers. What are people buying? What do they want that you’re not offering? What are they buying from your competitors? Look for ways to offer more while staying close to your core competency.
- Marketing. Let your members know you’re out there. Stay focused on what works, and watch for new opportunities, like trade shows or Internet marketing. You might use your member research to write an article for a trade journal and expose your membership business to a new audience. Post on social media; used well, it can reap big benefits.
- People. Take care of your current workforce, so employees won’t be tempted to go elsewhere. Always be looking for new talent to recruit. In the meantime, upgrade your own skills. Take a seminar on communication, leadership, or motivation, so you can do a better job of managing the people you have.
If you’re ready to multiply your membership and increase your retention, then let’s do it.
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