Calendar

This is our quarterly look at the state of the member base, in which we focus on trends, patterns  as well as highlights. The report also highlights what's happening.

The beginning of 2022 was a continuation of clear patterns of the market for membership which were apparent in the second period of the year 2021. With a world of digital technology growing rapidly, membership has proved to be an solid and steady source of income because we've observed the model of business for membership flex its stability over the past several months.

Highlights

The growth of members continues

In the fourth quarter of 2021, we saw a significant growth in the amount of new members joining. This pattern continued and picked in pace through Q1 2022, as people came home from their vacations and heading to work, school and other normal activities. A time of the season when the attention of the consumer is generally hard to achieve, there was an impressive rise in the number of new members across all major kinds of memberships, especially in the months of January and February.

Resilience during headwinds

March was a month when we saw a significant amount of uncertainty in the economic climate, and had a noticeable impact on consumer behaviors. Inflation and the conflict in Ukraine are two of the main reasons for consumers to become more prudent. The result has dampened the areas of expansion that were evident between January and February.

Although these macro trends have certainly impacted the nature of memberships, we've seen the efficacy of the model really shine as the headwinds start to manifest.

Presently time, the majority of the impact we've seen is in new member acquisition. Membership retention is consistent, highlighting the resilience of the membership and its importance within the larger strategy of businesses.

It also points out the importance in structuring benefits for members in order to make certain that the benefit is used regularly by members. Memberships that incorporate benefits into their regular routines consistently observe less members losing their membership and more retention during times that are more uncertain which allows them to maintain the income and also increase the number of members.

What's happening?

A brand new trend

Membership worlds change constantly. The world of membership is evolving rapidly. Our clients are constantly looking at new and innovative strategies to increase their revenue, the importance of expanding their strategies for acquiring members has never been more evident. Ad costs are increasing. Social media engagement is at a point where there's zero return. There is a decrease in the desire of users to conventional marketing and acquisition strategies.

Why is this happening? Over the past two years, all of us have been spending more time on the web than we ever thought possible. This was an amazing opportunity to find information and participate in the world of the common man. However, the longer-term online experience has resulted in substantial ad fatigue for users (your prospective customers).

People have been subjected to specific ads that were of low quality over the years, so people don't even know about them now - and even little take any action to eliminate these ads. Is advertising dead? No. In the context of the changing changes in the landscape, the economics and cost are not anymore favorable for advertisers.

Member-driven growth

We're seeing the next stage of membership growth strongly influenced by the current members. True messages, trusted opinion and personal stories build instant confidence that motivates actions.

Our recent introduction of Referrals is the initial step towards developing solutions that last for a long time and enable you to increase the loyalty and satisfaction of members to earn more revenue.

The strategies that are used to refer customers to their friends will not just result in lower cost to join however, they also increase the retention of members. This increase in retention is due to referral members receiving discounts on membership after they have succeeded by the referral.

People who are rewarded regularly by referring other customers are considerably less likely to be churn-free as they are constantly driven to recommend additional customers. Incentivizing your customers with a reward for referrals allows them to travel out and begin the appropriate conversations with the appropriate people which results in increased profits and lower expenses.

The Takeaway

The shifting landscape noticed in the first quarter is an excellent example of the importance of constant building strong bases in your membership. These foundations become the safest place to be whenever you're in a position of uncertainty. let members do their greatest work. Manage your membership with confidence.

The landscape of membership changes and growing it is sure that there will be a constant element that could be utilized to increase your membership. That's the basis of your current members. A commitment to continue to provide your members with top-quality service will help build confidence that will lead to them becoming your most loyal customers of your business.

Keep in mind the tiny foundations within your circle. These tiny foundations that will bring the biggest advantages.

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