Data-driven associations rely on robust membership analytics for more informed business decisions that foster growth.
In every industry, today’s organizations want to gain deeper insights, be more anticipatory, and get ahead of the competition. Our data-driven culture isn’t a bad thing. In fact, it’s the essence of efficiency and an amazing member and donor experience. But transforming into a data-driven organization doesn’t happen overnight. It’s a long-term strategy that can offer dividends throughout the journey and pays off in a big way down the road. Read on to learn more about the impressive advantages data-driven associations enjoy and how you can tap into them, too.
Having accurate information that can assess your organization’s performance is empowering.
For example, it allows you to:
- Wow your constituents
Open up the doors to endless possibilities for delighting your followers. Member data allows you to achieve more and deliver exceptional experiences time and time again. Give people what they want before they even ask and you’re on the road to impressive member retention.
- Take a proactive approach
It’s hard to succeed when you’re always busy reacting to evolving world situations and changing member needs. But by using data to gain insights into membership trends, your association can stay one step ahead of challenges and spot opportunities as soon as they appear.
- Learn from the experts
Associations are very different from the for-profit sector, but that doesn’t mean that you have to reinvent your analytics from scratch. Take a look at how successful private enterprises approach data-driven marketing and see what ideas you can apply. Retailers are often leaders in this kind of marketing so study their efforts and then adjust them to make them your own.
Does the thought of analyzing your association’s data and putting it to use feel overwhelming?
If so, you aren’t alone. Many organizations want to use their member data to gain insights for more informed decision-making but aren’t sure where to start.
Take these initial steps toward becoming a more data-driven association:
- Get a single, accurate view of your data – A Single Source of Truth. Using a comprehensive association management software (AMS) system like iMIS can help your organization collect, manage, analyze, and utilize your data more effectively.
- Define and monitor key performance indicators (KPIs). If you haven’t already done so, establish metrics (KPIs) that can help you track progress toward your association’s goals. Use dashboards in your AMS to give you a quick overview of your association’s health that you can easily check on a daily basis.
- Create detailed reports for each function. In addition to setting up KPIs, establish more detailed reports for each department in your association. For example, set up a membership report that reveals overall trends as well as a breakdown of key demographics. Create department-specific reports for marketing, fundraising, finance, and others.
- Review the data regularly. Schedule recurrent meetings to review the reports for each key function. Use this session to analyze and discuss trends, how you can improve faltering numbers, and what opportunities are presenting themselves to you.
Using member data to inform your decisions makes it easier to manage your organization, plan programs, make improvements, and deliver a better member and donor experience.
If you’re ready to become a data-driven association and reap impressive rewards, IBC’s friendly experts are here to help. Please contact us to get started.
About IBC: At IBC, we have a deep understanding of the critical business needs and processes specific to associations, non-profits, and unions. We ‘get’ your culture, your goals, and what drives you, too. Focused exclusively on and dedicated to delivering the most effective AMS, LMS, and Cloud Financial Software for our clients, we’re well-versed in identifying and applying the integration techniques that will save you time and money. Since 2001, our cutting-edge products, unparalleled responsiveness, and award-winning services have helped organizations like yours increase their operational and financial performance by leveraging best practices and proven solutions. For more information about IBC, please visit the website at www.ibconcepts.com or call 443.603.0215.