As the landscape of professional organizations continues to change and become more competitive, many associations start seeking out new and innovative ways to boost attraction, increase retention, and add value to their offerings.
If you’re looking to add value through uniqueness and improve your offerings in order to increase your membership base, consider offering an association benefits plan. It may be just what you need.
Here’s what you need to know.
An Association Benefits Plan Can Help You Target a Larger Market
With an increasing number of part-time and contract jobs, along with companies providing fewer benefits plans at the workplace, offering an association benefits plan just makes sense. It can help you target a large share of the market.
Many Canadians now work in casual positions, are self-employed, or work freelance jobs. Others still work for small businesses that do not currently offer health insurance. Full-time jobs with comprehensive benefits are now few and far between. Many employees are now working without health insurance. And unfortunately, buying individual coverage is often too costly, even for the most basic of plans.
By offering a benefits plan as part of your association’s membership value, you can target all of these part-time, contract, and young workers who desperately want health insurance but cannot afford it on their own. You can offer them a much-needed alternative to being un-insured.
A Benefits Plan Can Set You Apart
You likely offer your members intangible rewards, such as the opportunity for thought leadership, for networking, and for mentorship. You may offer resources and even some discounts as part of membership. Unfortunately, though, every other similar professional association is offering the exact same advantages.
To increase membership attraction and ensure your survival in this competitive world, you must offer additional value. You must stand out from the crowd, so professionals choose to join your association over the others.
Offering an association benefits plan, when your competitors don’t, can help you add value to memberships through uniqueness. You’ll be able to deliver the real value—and tangible rewards—that professionals seek.
Build Stronger Relationships with Your Members
Once professionals sign up to join your organization, you naturally want to be able to retain them. Building stronger personal relationships with your members can help you enhance loyalty and keep members.
People now want to feel a connection to brands. Offering an association benefits plan can help you show your members that you care about them and their family members.
Increase Renewal Rates
Not only will existing members feel more loyal towards your association if you offer a benefits plan, but they’ll also want to stay with your organization longer. If you have an ongoing issue of lapsed memberships, then offering a health insurance plan may be just what you need to increase your renewal rates.
Your members won’t want to give up their health insurance—or the peace of mind that comes with it—by letting their memberships lapse. They’ll continue to pay their dues year after year in order to continue having access to the benefits plan and continue protecting their health and the health of their families.
Engage a Benefits Specialist Firm to Streamline the Process
Finding the right association benefits plan for the first time can be difficult and overwhelming. The health insurance world is complex, and if you’re not familiar with the different plans, their pros and cons, and their costs, or even aware of what type of plan you really need, it can seem nearly impossible to find the right plan. What’s more, implementing the plan and maintaining it can be a difficult administrative hurdle to overcome.
Engaging a benefits specialist firm can make the process of acquiring a benefits plan faster, more efficient, and easier than ever. Your specialist firm will get to know your organization, its goals, and its members, help you navigate your options, help you choose the best plan for your needs, and then continue to offer ongoing support.