There’s “Riches in Niches”

July 28, 2008
There’s “Riches in Niches”
 
Every Association has a wide variety of member companies.
 
There are “Builder” members and “Associate” members. Inside the “Builder” category are dozens of types of companies from custom builders to “spec” builders, small production builders to builders that produce hundreds of homes per year and more.
 
In the “Associate” category the range is even wider – subcontractors, financial companies, title companies, professional services, media and marketing companies, suppliers and the list goes on and on.
 
One of the most powerful things you can do to “tap” into these different groups is to “slice and dice” them into as many specific “niches” as possible. Once you have done this you can create programs and non-dues revenue projects designed to have a high value to these specific niches.
 
Let’s use the financial services group as an example. This group can be easily segmented into several specific niches. Under the umbrella of financial services you will find banks, mortgage companies, leasing companies, credit unions, insurance companies, accounting and bookkeeping services and more.
 
Each of these sub-categories is a niche. Each niche can and should be looked at as unique with its own set of needs. The companies inside these niches also will feel compelled to respond when you recognize them as a special group and give them special attention.
 
Here is a really simple way to generate non-dues revenue and provide a valuable benefit to one of your financial niches.
 
Give your next general membership meeting the theme “Banking on a Healthy Building Industry” or something similar. Create a “package” for “banks only” that includes the following (as applicable):
 
Special seating at the meeting or function (remember the “secret of the blue tablecloth” from “Renegade Retention Secrets” Vol. 1?)
 
The ability to bring and hang a company banner at the event
Two tickets to the event
 
Do not call this a “sponsorship”. Companies tend to believe that when they “sponsor” something they are doing it out of support and it is a favor to the Association. That is often true and isn’t a bad thing. In this case though – you have the “carrot”. This is a great opportunity for BANKS to get exposure, develop relationships and ultimately get new customers and clients!
 
Now, none of the “benefits” above are unique and most have been offered before in some way, shape or form. But, here is the critical difference – THIS IS FOR BANKS ONLY! No insurance companies, accountants, credit unions or mortgage companies can have this package at this meeting or function.
 
This is an exclusive offer to an exclusive niche. When offered it has to be clear that this package was created to showcase the “BANKS ONLY” niche. When presented as a special marketing tool for a specific niche the perceived value of the “package” will increase to a very high level.
 
When you make this type of offer to a niche a few things happen.
 
First, the niche is made to feel special because you are highlighting them and only them.
 
Second, knowing that you are highlighting their niche they won’t want to be left out.
 
Third, by making the same offer to all of the banks (and alerting each bank of this) two powerful emotions come into play – fear and greed. If you are highlighting banks at your event and one bank chooses not to participate they may allow all the other banks to get exposure to your members that they will miss out on – that’s fear. On the greed side, just knowing that if they can impress one or two member companies or develop one new relationship they can get a return on their investment several times over will be appealing.
 
Finally, recognition is one of the most powerful motivators of all. When the bank management knows that they will get specific recognition by participating in your event the odds of them participating and perceiving a high value will go up.
 
Using the “niche approach” provides a real benefit to the participants. This is a huge marketing opportunity. Where else can they get this kind of exposure and face-to-face access to a specific set of business people (your members) in a relaxed, yet business atmosphere and be the focus of attention?
 
This is not a donation! They are not “supporting” the Association by participating. This is a direct marketing opportunity that can be compared in value to any other forms of marketing this niche uses.
 
The value that you put on the investment is up to you – but here is a recommendation – each business person attending your event is a specific opportunity for the participating banks. Take the average attendance of this type of function or event and multiply it by at least five dollars.
If you have an average of 75 attendees charge at least $375 for each participant. Get five banks and generate $1875. If you have 200 attendees charge $1000 for each participant. Get five banks and generate $5000.  
 
I used banks as an example because it’s really easy to provide value to this niche.
The next meeting or function may feature insurance companies only. Call it “Insuring a Healthy Building Industry” and offer the same package.
 
 Look at all your “niches” and create opportunities for each.
Have a section in your newsletter for “plumbers” and call it “Pipeline to a Healthy Building Industry” and create a special size ad with a special price for “plumbers only”.
 
Designate one hole at your next golf event the “Money Hole” and let all of your accounting members have their logo on one sign. The possibilities are endless when you break your membership into exclusive niches and brainstorm ways to give them real value.
 
 
Steps to Success
 
1.) Make a list of all of your niches breaking them into as many specific categories as possible.
 
2.) Make a list of all of your events, publications, meetings and programs.
 
3.) Decide which niches go best with each of them.
 
4.) Have your events or membership committee brainstorm “packages” for each niche.
 
If possible, assign a niche to each committee person to contact about the package or require a committee person to go with a staff person when they share the opportunity. This is a great way to get staff and committees to work together and also creates “courage” to actually get it done.
 
In closing, remember there is no “arm twisting” to get niches to participate. You have the “carrot”. When you market to a niche it is your responsibility to make sure all members of the niche have a chance to participate. You are simply giving them information so they can make a good decision for there business.
 
In our office when someone says no, we just say “NEXT”.
 
                            
 Rob Oliver
 
P.S “Riches in Niches” is one of five non-dues revenue tools feaured in my SPECIAL REPORT – “5 Non-Dues Revenue Secrets”.
 
To get the complete report sent to you by priority mail for just $77.00 send me an email to rob@theolivergroupllc.com  and type “5 Secrets” in the subject line and include your contact information so we can call you and get payment information.
 
This report has a 100% No Questions Asked Money Back Guarantee. If you don’t believe you can get at least ten to twenty times your investment back simply send us an email and I will refund your investment and you can keep the special report.
 
This is just one of several tools that can be implemented easily and cost effectively.
 

NO QUESTIONS ASKED.

The opportunity to provide a drawing prize and any other tools you can offer
 
Call the package “Passbook to the Most Powerful, Successful and Influential Business People in the Community”. People like packages -they are easy to understand and place a value on.
A database of the attendees to use as a follow up tool
Their company logo in a “shared” thank you ad in the newsletter before or after the meeting
One handout or flyer at each place setting
Three minutes at the podium to address the guests
Recognition from the podium
Half price tickets for their management and staff

“Pay It Forward” and Increase Membership Now

July 28, 2008
Did you see the movie “Pay It Forward” with that cute Haley kid? 
 
He had a pretty simple idea about doing something nice for someone and asking that person to simply “pay it forward” by doing something nice for just two other people and asking them to ‘pay it forward” too. After that, the laws of math would take over and literally thousands of people would benefit. 
 
Stay with me for a minute while I kind of “set you up” for the steps you can take to make this powerful process work for your HBA.
 
Do you know the number one reason a company doesn’t join your HBA? They never get asked. Why? Even though you work on your “Spikes”, and bring it up at every committee and board meeting getting your members and staff to “sell” memberships is tough. Often it’s a lack of time and energy but there is one other big reason.
 
Fear. Nobody wants to admit it, but for a lot of people the thought of calling someone (friend or not) and asking them to join the HBA is not real comfortable so it gets put off or never happens at all.
 
There are plenty of companies willing and eager to join your HBA if someone would invite them.
 
Here’s an extreme example.
 
A few months ago we worked with the local HBA in Helena, Montana on one of our “Direct Drive” membership drives. They had about 250 members at the start of the Drive and 48 hours later they ADDED 261 new paid members. That’s over a 100% increase in two days. Again, I’m not telling you this so you think I’m great or anything. I’m telling you this so you know that there are still lot’s of companies (thousands and thousands) that will join your HBA if they are asked. Some will say “no” but the secret to increasing membership is in increasing the ”asks” exponentially.
 
So here are the steps to a “Pay It Forward” membership process that will increase the number of “asks” dramatically.
 
1. Write or have written a strong “sales letter” for your Association. The key words here are “sales letter”.  Don’t expect all of your members to be experts at convincing people to join the HBA. A good sales letter will have a powerful headline, create an emotional bond with the reader and offer several examples of how they can improve their business and lifestyle by joining as soon as possible. Always include testimonials. Finally the “sales letter” will always have an offer, an enhancement and a reason to respond easily and quickly. Do not confuse a sales letter with a “plea for support”.
 
2. Decide on a two to four day timeframe to conduct your “Pay It Forward” campaign. Don’t stretch it out any longer or it will lose it’s excitement.
 
3. Send an email or letter to your members about the new “Pay It Forward” membership campaign and dates and let them know you will be sending them more information soon.
 
4. About two days prior to the Campaign, email or mail a copy of the sales letter (if by email include a link to your online payment system if you have one. If you don’t, email me and I’ll tell you how we do it.)
 
In your email or letter ask your members to simply write a short personal email and attach the sales letter you provided and “forward” it to their own “sphere of influence” using their email contact manager (like “Outlook”) or any other method they have to reach their business contacts. Remember, it’s not spam if they only use their sphere of influence.
 
Payables lists work really well! Make sure the personal email or note includes something like “please forward this letter to anyone else you know that benefits from a “healthy building industry and would like access to some of the “most powerful, influential and successful business people in the area”.
 
5. Provide some sort of recognition for all that participate.
 
Here’s is why this process works. It takes away the fear by using email and mail only. No cold calls. Equally, if not more important the “sales letter” you provide does most of the “heavy lifting”. All the participants have to do is add a little note and pass it on to their “list”.
 
These are the basic steps to a “Pay It Forward” membership campaign. I would have to make this letter many more pages to go into every detail, but I hope you get the idea.
 
We have used this process successfully and you can too.
 
If you want information about  having us help you put your “Pay It Forward” campaign together including detailed training by phone, a sales letter and all the materials you need just send me a reply email or click on the link below and type “PAY IT FORWARD” in the subject line and I’ll get you the details in  just a few days.

 
                            rob@theolivergroupllc.com
 

Otherwise, go ahead and “Pay It Forward”.


Retention – The Power of Affinity

July 28, 2008
There are dozens, if not hundreds of ways, processes and strategies for increasing retention. There are eight point plans, twelve step plans, eighteen “touch” plans and more.
 
Most of them would probably work pretty good if they were implemented and used on a regular basis. A lot of times the main reason that these plans go by the wayside or are used occasionally is because they require a fair amount of human interaction from board members, staff and committee members.
 
Guess what? When you add the human piece there is automatically room for procrastination, fear, discomfort and a whole variety of other obstacles and emotions to get in the way. The “affinity” tool I’ll describe below eliminates most of the roadblocks and is a great baseline for starting a true retention “system”.
 
Instead of sending out the typical renewal form letter signed by the Executive Officer, Board President or Membership Director I want you to try using the “power of affinity”.
 
If a renewing member is “sitting on the fence” about renewing their membership there is often little hesitation to quit if the only one asking them to renew is a staff person or a Board President.
 
Here is where you can use affinity to keep that member from quitting.
 
Affinity is really just a big word for having a common goal or having familiarity with a certain group. Here’s what all this means to you. If a member is considering whether to renew or not the way to sway them is not by a second notice or a “we’re sorry to lose you” letter from the HBA office.
 
The people that have the most influence are those that the renewing member has “affinity” or familiarity with. Here are the steps. This really will work.
 
1. Call or email all of you board members and tell them to bring 100 business cards with them to the next board meeting. That’s pretty simple.
 
2. At the board meeting while business is being conducted have the board members write “I’m glad you are a member” or “thanks for your support” or some other very short personal note on the back of each of their business cards and then sign them.
 
Note: To be effective they must be handwritten not stamped, printed or copied.
 
3. When you send out your renewal letter simply drop in one card from each board member with the personal note and signature on the back. If you have twelve board members then there should be twelve individually signed business cards in the envelope.
 
4. Watch the power of affinity do the “heavy lifting” for you. When your member believes that ten, twelve, sixteen or more of their “peers” (people they have affinity with) are all aware and watching for there renewal, not just an EO, Membership Director or bookkeeper their odds of renewing will go up dramatically. Your renewing member does not want to let his or her affinity group down by leaving the Association. They will also appreciate the fact that so many individuals have taken an interest in their membership.
 
Do those four steps sound to simple to be effective? Just give it a try. It will work. All it takes is a little effort during a board meeting and a little extra “stuffing” with the renewal letter. What if just one member that was going to quit renewed because of the power of affinity? What is you increased your retention by just one or two percent?

Sponsorship or Donation – Your Event IS a Media

July 28, 2008

 

Selling sponsorships is easy. Sure. Have you ever felt like you were going “back to the well” just one time too many? Do you feel like the same companies just keep on giving and giving? You are not alone. If you use words like support and donation when you are offering sponsorships to your events then those are pretty natural feelings.
 
Here’s a different way of thinking about sponsorship: Your event is a form of media just like a newspaper, radio station, magazine or television network or even direct mail. But yours is even better.
 
Here is an example. Suppose you have a bank as an Associate member. Banks use all of the media I mentioned above on a regular basis. They spend thousands using a “shotgun” approach by advertising to “mass audiences” hoping that someone in that “mass audience” has an interest in what they are offering. After the ad runs the bank has no way of knowing specificallly who even saw it unless someone walks in and mentions it.
 
Let’s take look at your event sponsorship as a form of media. What audience can you deliver? Other media deliver audiences, so do you.
 
If your event is a Home Show you deliver a specific, targeted measurable audience. They might be middle income, 50% male, 50% female, average age of around 42 (guessing). If you get 3000 attendees plus the exhibitors then your media is delivering an audience of 3000+ specific individuals. In addition by including your sponsors in your own marketing and promotion you are giving them “credibility by association” with potentially thousands more people. If you have collected names and addresses through a drawing or contest at your event, you can even hand your sponsor a specific list to follow up with. See if a newspaper, radio station or television network can or will give you a specific list by address of listeners, watchers or readers. It won’t happen.
 
Once you understand the audience your event (media) offers and the different ways companies can use your event as another form media the words support and donation can go away. You have the carrot! There are hundreds of companies looking for alternatives to traditional advertising that can’t be measured and is getting them the results they want.
 
Here’s a simple process that you can follow:
 
1.) Make a list of your events. Include Home Shows, Tours, Golf Tournaments or Outings, General Membership Meetings, Annual Banquets and any others you can think of.
 
2.) Define in general terms the type of audiences that attend. Each event draws a different audience. You don’t have to be ultra specific. For example, your Annual Banquet may draw 250 of the “most powerful, successful and influential” business people in the community. That’s a pretty valuable audience for the right company.
 
3.) Make a list of types of companies (not specific names) that would benefit from reaching the audiences you have defined. 
 
4.) Now look at your membership list and see what companies match up with which audiences the best. Now you have a list of companies to “offer your media”.
 
5.) Set your sponsorship values carefully. Usually, when we are asked to evaluate a sponsorship plan the value far exceeds the price. Remember, when pricing your sponsorships compare yourself to other media. Do not base your pricing on how much of a “donation” you think you can get.
 
Your event is a powerful and effective marketing tool. If you treat it like the valuable asset it is getting sponsors will be easy and even fun.

Hello world!

July 28, 2008

Welcome to The Oliver Group Renegade HBA Blog. Your resource for information on Increasing your Membership, Increasing Retention and Increasing Non-Dues Revenue