Every 8 seconds another boomer retires. This means that your membership is shifting to a millennial base. Are you doing enough to engage and inspire this digital first generation?
20 years ago, association's had it pretty good. Boomers were joiners. When they joined, they were loyal. The fact of the matter is it would take something cataclysmic for them to quit. It was a very predictable model and for the most part - easy to manage. Now, boomers are exiting the workforce, and with that, they are leaving associations. Millennials are replacing boomers in the workforce, but not necessarily in association membership. Millennials are not joiners. They are definitely not as loyal as their older counterparts.
What does this mean for associations?
In the next 5 years, associations will need to change the way they do business, or risk demise. An expectation of reduced or even free membership is just around the corner. Millennials that do become association members will expect a digital experience first that will entertain them while they consume content. Associations will have to step up their content game to engage millennials with posts that inspire - and can only be accessed as an association member.
As the economy begins its inevitable cyclical slide, the shortcomings of associations still mired in a boomer model will be exposed and exacerbated. Will you be one of the fortunate few that not only survives the shift, but benefits from the winds of change?
To learn more about how you can engage your growing millennial membership, click on the button below.
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John Heppenstall is Director of Marketing for WorkerBee.TV.