Our client is a global membership organisation with individual and organisation members who are either medical practitioners or those who support the aims of the Institute.
Following a period of declining membership and engagement, our client needs to stabilise and stop this trend. With a strategic objective to grow their membership in a difficult economic climate, we were approached to help build out a strategy to support this objective.
The strategy had to be built in a short period time and our client needed support to create a Membership Value Proposition (MVP) that was focused on the end customer.
The first aspect of this work was to create a Vision and Principles (V&P) one pager that would guide the strategy and help the organisation to understand where they wanted to get to, whilst recognising the constraints faced. The Vision and Principles are used throughout the strategy when decisions are made.
Using the V&P, Equantiis helped develop the Membership Strategy by building an external then internal perspective:
Looking externally first, Equantiis helped our client to identify the core membership base, creating personas for three audience segmentations, both current and prospective members. Importantly their needs and unmet needs were captured, which form the overarching Value Proposition.
Next, a member experience exercise was undertaken to unpick the way that members are currently serviced, identifying where challenges lie and the opportunities for improvement.
The next part of the external view was to carry out a market analysis to explore competitor organisations’ offers and positioning. This would then allow a better understanding of how the current offering favoured within the market, and what new product development was required to meet the unmet member needs. This was supported with a commercial model and plan for launch.
With the newly defined membership offer, Member Value Propositions (MVP) were created for each core audience segment. Using this information, a member engagement plan was created for retention and acquisition campaigns.
Armed with the relevant information about member need, Equantiis then built out the new pricing structure, simplifying the fee options, and developed new, fit-for-purpose fee options and discounts, removing legacy payment options that were no longer appropriate.
With ambitious targets for growth, a retention and acquisition target was modelled to support the business over the next five years.
Using all of this analysis Equantiis built a Transformation Roadmap for the next three years, detailing the activities, budgets, resources and timelines ready for our client to successfully action against.