Joe Rominiecki is a contributing editor to Associations Now.
A look at the various payment options associations offer to members for their membership dues.
It's great when a member sends a dues check on time, paid in full, but a lot of members need a little nudging. Installment payments are the most common renewal option that associations offer to make paying dues easier, especially among trade associations (66 percent). Meanwhile, associations with renewal rates below 80 percent are more likely than others to try to boost those rates though multiyear renewals and early-renewal discounts.
Installment renewal :
Automatic annual credit card renewal:
Automatic annual Electronic Funds Transfer renewals:
Gift or premiums for renewal:
Source: Marketing General Incorporated, "2015 Membership Marketing Benchmarking Report"