The Theme for the 2017 International Networking Week, was FOLLOW UP!
This month our focus is on following up with existing members to ensure their success. Never assume all members know and understands all the BNI processes, procedures, policies, and expectations.
The current retention rate of BNI members overall is 47%. There are many reasons why BNI members don't renew after the first year, i.e. changed careers/jobs, moved, to much / not enough business, not enough time, etc.
Statistics show that members who renew after the first year stay with BNI on average 5 years. So how do we retain good members.
Here are my recommendations on improving retention:
- The first step is to ensure new members get off on the right foot by engaging them in the Mentor Program. Refer to last month's newsletter for more information on the Mentor Program.
- Membership Committee Review Performance - The Membership Committee should review all members performance every month. The MC should review personal PALMS report and Traffic Light reports to ensure members are on track or may need help in certain areas. If the MC sees areas that need some tweaking they should recommend steps that will help the member make improvements where needed.
- Attendance - Is the member present and if not are they sending a sub?
- Referrals - Is the member giving and receiving quality referrals?
- Visitors - Is the member bringing visitors? At least 1 per month.
- CEUs - Is the member taking advantage of training? Online / Face to Face. Earning on average of 1 CEU per week.
- Accountability - Is the Membership Committee holding members accountable?
In podcast 294, Dr. Misner goes over how to Attract and Retain Quality Members. Click Here to read the article.
If the Membership Committee strives to help members be successful and the member is doing their part to be successful, then when it's time to renew, it should be a 'No Brainer.'
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