Equity Considerations for Associations Going Global

Post-COVID, associations' global reach has increased exponentially as digital-first strategies break down traditional geographical barriers. As associations expand globally, pricing for equity becomes essential to serve diverse audiences effectively. This involves balancing local economic conditions with the association’s value propositions.

To price equitably for differing countries with varying costs of living and socioeconomic factors, associations can adopt a strategic approach that considers local economic conditions, perceived value, and market-specific factors. Here are some key steps:

1. Conduct Market Research

• Local Economic Data: Gather data on the cost of living, average income, and economic conditions in each target country.

• Member Feedback: Conduct surveys and focus groups to understand how members perceive value and what they are willing to pay based on their local context.

2. Value-Based Pricing

• Perceived Value: Adjust pricing based on the perceived value of your offerings in different regions. What might be considered affordable in one country could be expensive in another.

• Local Preferences: Tailor your products and services to meet the specific needs and preferences of local markets, which can justify differential pricing.

3. Tiered Pricing Structures

• Multiple Tiers: Implement tiered pricing models where basic access is available at a lower cost, and premium features are offered at higher prices. This allows members from various economic backgrounds to participate according to their financial capacity.

4. Differential Pricing

• Adjust Based on Economic Indicators: Use economic indicators such as GDP per capita or Purchasing Power Parity (PPP) to set different price points for different regions. This approach ensures that the pricing is equitable relative to the local economic environment.

• Currency Considerations: Price products in local currencies to avoid issues with exchange rates and provide clarity on actual costs for members.

5. Implement Sliding Scale Fees

• Income-Based Fees: Consider implementing sliding scale fees based on members' income levels or organizational budgets. This method helps accommodate members from diverse economic backgrounds while maintaining fairness.

6. Regular Review and Adjustment

• Continuous Monitoring: Regularly review pricing strategies and adjust them based on feedback, economic changes, and member engagement data.

• Feedback Loops: Establish channels for ongoing feedback from members to ensure the pricing strategy remains fair and effective across different regions.

7. Communication and Transparency

• Clear Communication: Communicate the rationale behind different pricing tiers and adjustments transparently to all members. This builds trust and understanding regarding the equity considerations taken into account.

• Value Proposition: Highlight the value and benefits associated with each pricing tier to help members understand the worth of their investment.

8. Cultural Sensitivity and Local Partnerships

• Cultural Sensitivity: Understand and respect cultural norms and preferences. This involves more than translating existing materials into different languages; it requires adapting content to be culturally relevant and resonant.

• Local Partnerships: Sometimes, the best approach isn't to expand independently but to partner with local thought leaders. These partnerships ensure that you are properly serving new audiences and addressing their specific needs and values.

• Tailored Value: Recognize that not all member groups will want or need the same things. Providing value that resonates with each member and location is crucial for equity in pricing and service delivery.

By integrating these strategies, associations can create a pricing model that is sensitive to the economic realities of their members while ensuring sustainability and fairness. This approach not only enhances member satisfaction but also broadens access to association resources and benefits across diverse socioeconomic landscapes. Associations, caring deeply about people, can ensure they are providing equitable and culturally sensitive value to all their members.