7 Reasons Associations Love Auto Renewal Subscription Membership Plans
Many of your members and your membership prospects are consumers of the subscription economy. Think about everyone you know who belongs to Spotify, Netflix, Hulu, Audible, eHarmony, Blue Apron, or Stitch Fix. And that’s just a tiny sample of the automatic subscription renewal market.
Associations have been consumers of the subscription economy since the rise and adoption of Software as a Service (SaaS) platforms such as association management systems, learning management systems, and other association software. You and your colleagues probably use other subscription-based tools like Dropbox, Office 365, Adobe Creative Cloud, Slack, Asana, or Buffer.
Members already pay for monthly subscription services in their personal and professional lives—why not give them the option to pay for their association membership with the same recurring payments? Just like memberships in the consumer world, monthly dues can be charged via automatic payments to the member’s or employer’s credit card or paid by an electronic funds transfer from a checking account.
If members decide not to renew, they simply notify the association and automatic payments are cancelled. In the meantime, their monthly dues payments are set for auto-renewal—aka “perpetual membership.” It has a nice ring to it, doesn’t it?
Auto-renewal in the association world
The auto-renewal trend is growing in the association community, according to Marketing General Incorporated’s (MGI) 2021 Membership Marketing Benchmarking Report.
31 percent of associations now offer automatic renewal and 35 percent of them offer installment plans as an alternative to annual payments.
And, more members are now choosing the auto renew options. EnSYNC’s The State of Perpetual Memberships report says 23 percent of members opt into automatic renewal at associations that offer it.
Why do associations offer auto-renewal?
Members, particularly younger members, benefit from having the option to pay their dues monthly via auto-renewal. But, associations benefit too.
Join & Renew Process
Optimize membership growth and meet members where they are at by easily allowing them to join and renew at all levels of your multi-chapter organization. If you’re looking to give your local chapters the power to accept membership dues, process auto-renewals, and provide members multiple ways to pay, then let’s talk!