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This is of particular relevance for membership based organisations who operate in fast paced industries such as Healthcare, Pharmaceuticals, Agri-food and Utilities where there is frequent legislative or regulatory change or in instances where their members experience rapid organisational, cultural or technological change.
There are major risks associated with failing to deliver genuine value to your members including; increased member dissatisfaction, poorer retention rates and ultimately lower revenues. In order to better protect against these risks, membership based organisations need a clear understanding as to what existing services their members actually need, what additional services might they want and what are they happy to pay in return. From our experience, membership based organisations who effectively address these questions and adapt their service offering and pricing model in response, are far more likely to experience happier members, stronger financial performance and greater long term viability.
How Grant Thornton can help you better understand and align with the needs of your members
Our Business Consulting team has previously worked with other membership based organisations to address this challenge. Our approach focuses on:
- Independently engaging with members to drive first hand insights around their specific needs and requirements;
- Developing clear and actionable recommendations including ‘quick wins’ to increase member satisfaction and deliver additional value to them in the short term; and,
- Providing you with clear options on how to restructure your service offering or pricing structure to better align with your members’ needs over the long term
If you would like more information on how our Business Consulting team can assist you and your organisation in this area, please feel free to contact a member team below.