When asked this question, a lot of people will say ‘brand’, ‘history’ or ‘heritage’. Some will even say ‘our people’, ‘our passion’ or ‘our purpose’.
Although you could argue there is truth in all of the above, where is the real value in a member services organisation, and how is it unlocked?
In my experience, the biggest asset in most membership organisations is:
- Their capacity to produce unique Intellectual Property (IP) through conferences, events, panel discussions, industry interviews, research, expert opinion etc.
- A qualified, preferably well-segmented database of past, present and prospective members
The commercial opportunity exists by being able to transact one (IP) with the other (membership). Additional commercial value can be derived from licencing, sponsorship and media partners, however past, present and prospective members are the core business – and the only reason why sponsors or media partners are interested in the first place.
I would love to hear your thoughts.