3 Overlooked Ways to Improve Your Members' Renewal

To keep your association thriving, you'll need to ensure that your members are excited to renew their memberships every time renewal rolls around.

Your member retention strategy doesn't have to be complicated. In fact, the more straightforward your membership renewal process is, the easier it will be for your members to continue committing to your organization year after year.

In this post, we'll walk through three simple (yet overlooked) strategies for streamlining the membership renewal process and boosting your retention rates:

1. Offer your members automatic renewal.

2. Keep your members' payment information secure.

3. Provide an account updater for your members.

1. Offer your members automatic renewal.

Your association can offer automatic renewals to your members thanks to online recurring payments.

What's the easiest way to take the guesswork out of membership renewal? Automate it!

The subscription model, wherein a subscriber is automatically charged a fee according to a preset calendar (usually once a year), has become a go-to for associations. 

Not only will automated renewal instantly boost your membership retention, but it's also the most convenient option for members. They don't have to remember to send in a check or fill out an online form to continue seeing the benefits of membership; it's all taken care of for them! 

In order to effectively utilize automatic renewals, make sure that your association works with a payment processor who can accept recurring payments online. Then, your members can opt in to recurring renewals when they sign up (or via your association's online portal).

Don't forget to make the terms of your subscription clear to members so that they're not surprised to find they've been automatically charged. Express the benefits of automatic renewals, and you're sure to see plenty of members signing up! 

2. Keep your members' payment information secure.

Your association should take measures to keep your members' payment data secure by working with a payment processor who enables tokenization and encryption.

Members who don't feel their transactions are secure aren't likely to want to renew their memberships.

Automatic recurring renewals add another layer to payment data storage, so associations who accept auto-renewals should take extra measures to ensure that their members' payment information is secure.

Tokenization and encryption — a security process that hides card data as it passes through the payment systems — is a necessity as you process your members' dues payments. This security measure will guard your members' payment information from fraudsters who won't be able to decipher the tokenized or encrypted card numbers.

While most payment processors will automatically offer tokenization and encryption as a standard feature, you should also see what other fraud prevention tools your processor offers to keep members' data secure. 

The more security tools you have in place, the more confident your members can be that their payments will be processed safely. 

3. Provide an account updater for members.

Partner with a payment processor that offers an automatic account updater so your association's members don't have to worry about manually keeping their card information up to date.

Don't let memberships lapse due to outdated payment information.

Credit and debit cards expire every few years, so it's highly likely that your members will need to update their payment data at least once during the duration of their membership.

It's easy for members to forget that they've gotten a new card since the last renewal period and end up with a bounced dues payment and a lapsed membership because of it. You can help members avoid that by working with a payment processor that provides an automatic account updater.

An account updater is a tool that communicates with members' banks to ensure that their card information is always up to date, thus reducing returned payments and limiting the amount of staff time spent contacting members to change card data. 

Learn how iATS can help you grow your membership organization.

We'll provide your association with the right solutions to retain members and boost engagement.