DATAECONOMY's Solutions for Professional and Trade Association Challenges
Addressing Core Challenges
Professional and trade associations, also known as industry organizations, face significant challenges in boosting member engagement and value. Key issues include:
Adding Value for Members
Demonstrating and delivering clear benefits to association members.
Showcasing Value
Effectively communicating the benefits and value propositions to current and prospective members.
Member Churn
Managing and reducing turnover rates among members.
Attracting Younger Members
Engaging and retaining younger members within the association.
These challenges often lead to
Flat or Declining Membership Rates
Difficulty in attracting new members and retaining existing ones.
Higher Acquisition Costs
Increased expenses in acquiring new members.
Perceived Lack of Value
Members feeling that their dues do not reflect the value they receive.
Limited Engagement
Inadequate tracking and analysis of member engagement and satisfaction.
Challenges with Key Segments
Difficulty in attracting and maintaining crucial member segments.
The Importance of Member Engagement
Member engagement is essential for turning around declining trends and improving association performance. Effective engagement strategies include
Customized Member Interactions
Tailoring communications and offers to meet individual member needs and interests.
Ongoing Engagement
Keeping members actively involved throughout their membership journey to ensure long-term retention and stronger connections.
DATAECONOMY's MATRIX Solution
MATRIX offers a comprehensive solution designed to tackle these challenges and enhance member engagement
Augmentation Platform
Integrates data from internal sources (AMS, CRM, LMS, marketing) and external sources (social media) to provide a complete view of member interests.
Professional Consulting Services
Provides expert guidance to implement effective strategies with minimal disruption to staff and daily operations.
Features of MATRIX
Member Onboarding
Create personalized onboarding experiences that introduce new members to the association, capture their preferences, and use smart workflows to map their journey.
Member Engagement
Track individual engagement levels and aggregate scores to identify trends and understand what drives member participation
Member Insights
Centralize data from various sources using advanced graph technology to get a full view of each member’s activities and interests.
Hyper-Personalization
Leverage AI & ML solutions along with deep learning to create personalized membership experiences.
Targets
Establish and track KPIs and engagement scores to get insights and meet association goals.
Association Insights
Analyze KPIs and trends to identify opportunities for deeper member engagement and data-driven decision-making.
Communities
Encourage member interaction through moderated and un-moderated channels and provide access for non-members through free resources.
Dashboards
Get role-based dashboards that display interactive graphs, key performance metrics, and in-depth insights for smarter decision-making.
Shift from Volume to Value:
The transition to Value-Based Care (VBC) models is now a standard requirement, driving the need for overhauls in care management and substantial investments in IT and analytics.
Advancing Population Health:
Strategic investments in population health are essential for maintaining competitive advantage while ensuring high ROI and impactful results.
Growth in Government Health:
ACA Medicaid Expansion offers revenue opportunities for payers and providers who can effectively leverage data and analytics to manage quality and costs.
Data-Driven Evidence-Based Medicine:
Addressing global challenges like aging populations and chronic conditions requires evidence-based practices to optimize clinical outcomes and manage expenditures
Engaged Patient Experience:
Tech-savvy consumers expect highly engaging, personalized experiences from their healthcare providers and payers.
Features of MATRIX
Member Onboarding
Create personalized onboarding experiences that introduce new members to the association, capture their preferences, and use smart workflows to map their journey.
Member Engagement
Track individual engagement levels and aggregate scores to identify trends and understand what drives member participation.
Member Insights
Centralize data from various sources using advanced graph technology to get a full view of each member’s activities and interests.
Hyper-Personalization
Leverage AI & ML solutions along with deep learning to create personalized membership experiences.
Targets
Establish and track KPIs and engagement scores to get insights and meet association goals.
Association Insights
Analyze KPIs and trends to identify opportunities for deeper member engagement and data-driven decision-making.
Communities
Encourage member interaction through moderated and un-moderated channels and provide access for non-members through free resources.
Dashboards
Get role-based dashboards that display interactive graphs, key performance metrics, and in-depth insights for smarter decision-making.
Benefits
Increased Membership
Attract new members while reducing attrition rates.
Reduced Costs
Lower acquisition costs and improve retention rates.
Enhanced Member Insight
Gain a deeper understanding of member needs and preferences.
Greater Engagement
Improve retention and benefit from increased word-of-mouth promotion.
DATAECONOMY’s MATRIX solution offers a powerful framework to tackle the challenges that professional and trade associations face. By leveraging comprehensive data management, advanced analytics, and personalized engagement strategies, we help associations enhance their value, improve member retention, and achieve long-term success.