Every successful High Performance Membership Organization™ CEO knows the importance of tracking metrics. At a minimum, associations must be tracking:
- Member attraction
- Member retention
- Member satisfaction
- Member engagement
Metrics are critical to evaluating association sustainability. The data sets certain benchmarks and allows the association to track its progress. Well designed metrics demonstrate where an association has been – ideally spanning a minimum of three years of comparable data, where it is heading and where things are working well or need improvement based on pre-determine targets. Effective metrics guide strategy, direction and decision making; provide focus and drive performance and future initiatives.
Whether is designing membership reports or surveys, the data collected should be meaningful and manageable – more is not better. When designing metrics, work backwards – asking what you want to achieve from the data. Metrics should be standardized and reliable –providing relevant, timely and consistent information. Many organizations are good at collecting data – but it is equally important to make time to review, analyse and plan accordingly. Good decisions are based on information and metrics are a valuable tool for association leaders.