Value as Innovation: Transforming Member and Sponsor Experiences

The following is an excerpt from our book, Pricing for Associations, available now on Amazon.

In the realm of associations, value is not merely a laundry list of features and benefits; it's the catalyst for transformation. It's the magic that turns a simple membership or sponsorship into a profound and meaningful experience. Value transcends the transactional and becomes the driving force behind why members and sponsors choose to engage with your association.

Beyond Features and Benefits

Value isn't about showcasing a catalog of services or benefits; it's about delivering outcomes that resonate with your members and sponsors. It's the feeling of empowerment that a member gains when they access precisely the resources they need to excel in their profession. It's the sense of pride that a sponsor feels when their partnership with your association not only advances their business goals but also aligns with their values and mission.

True value doesn't stop at what you provide; it extends to what your members and sponsors achieve. It's about understanding their aspirations, challenges, and dreams and crafting an experience that elevates their journey. It's not about selling products; it's about facilitating growth, fostering connections, and driving success.

The Voice of the Customer

One crucial aspect often overlooked in defining value is the voice of the membership—or, for sponsors, the voice of your partners. While boards play a pivotal role in association governance, they may not represent the entirety of your membership or sponsors. Boards typically consist of seasoned individuals who have achieved certain milestones within their careers and the association. While their insights are invaluable, they may not always reflect the diverse needs and perspectives of the broader membership.

Ultimately, value isn't a static concept; it's an evolving journey. What is valued today may not hold the same significance tomorrow. Associations that embrace value as innovation continually adapt, evolve, and stay attuned to the changing needs and aspirations of their membership and sponsors.

To truly see value as innovation, we must engage in a continuous conversation with our entire membership and sponsors. It's about listening to the voices of those who are just starting their journey, those in the middle of their careers, and those who have reached the pinnacle of success. Each segment brings unique needs, aspirations, and challenges to the table. By actively seeking out and incorporating these diverse voices, we can innovate effectively and deliver value that resonates with every member and sponsor.

One important aspect of gaining the voice of the customer is understanding that they will desire both quantitative and qualitative value propositions to connect with our offerings.

Let’s dive in.

Quantitative and Qualitative Value Propositions: Understanding Value from Different Perspectives

Understanding and effectively communicating value is a critical component of engaging and retaining members and sponsors. To do this, it's essential to recognize that value can be both quantitative and qualitative, each offering a unique perspective on what your association provides.

Quantitative Value Propositions: Measuring the Tangibles

Quantitative value propositions are those aspects of your association that can be measured, quantified, and often compared to other offerings. These are the tangibles that can be counted, timed, or precisely defined. Think of quantitative value propositions as the "hard numbers" that demonstrate what members and sponsors get in return for their investment.

For instance, consider the miles per gallon (MPG) of a car, the speed of your home Wi-Fi connection, or the ounces of coffee you receive in your drink order. These are all quantitative measures that help consumers gauge the value of a product or service against the price paid.

In the association context, quantitative value propositions might include:

• Access to a specific number of professional development resources per year

• Discount percentages on event registration fees

• The number of networking opportunities available

• The number of industry updates and reports received

Qualitative Value Propositions: Meeting Emotional and Psychological Needs

Qualitative value propositions, on the other hand, delve into the emotional and psychological impact an association has on its members and sponsors. They explore the intangible benefits that go beyond mere numbers and metrics. Instead, they focus on how engagement with the association fulfills deeper, more meaningful needs.

A valuable framework for understanding qualitative value propositions is Maslow's Hierarchy of Needs. This psychological theory suggests that human needs can be organized into five tiers, with each tier building upon the one below it. Let's examine how associations can align their value propositions with each tier:

1. Physiological and Safety Needs:

While associations may not directly provide food, clothing, or shelter, they can indirectly address these needs by advocating for industry standards and safety regulations. Being part of an association can also equip individuals with the skills and knowledge needed for gainful employment, indirectly contributing to financial security.

2. Belonging Needs:

Associations excel in meeting belonging needs. Being a member provides individuals with a sense of community and connection. It's a place to engage with peers, share experiences, and collaborate. Belonging within the association community means having a platform to ask questions, gain valuable feedback, access resources, and feel seen and heard.

3. Self-Esteem Needs:

Associations play a crucial role in helping members achieve self-esteem needs. Earning a certification, securing a promotion, or taking on a leadership role within the association are all markers of professional achievement. They move individuals beyond simply entering their field to excelling and showcasing competency and leadership.

4. Self-Actualization Needs:

Associations provide avenues for members to achieve self-actualization. Winning a lifetime achievement award, serving on the Board and influencing the association's direction, or giving back by mentoring and sharing experiences are all ways members can reach the pinnacle of self-actualization within their professional journeys.

By understanding the various tiers of Maslow's Hierarchy of Needs, associations can tailor their qualitative value propositions to resonate with the deeper desires and motivations of their members and sponsors. This holistic approach ensures that the association not only provides measurable benefits but also fulfills members' emotional and psychological needs, creating a truly valuable experience.