February 14 2008 4 00 5 00 p m e t dial in number 1 800 605 5167 pass code 341953
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February 14, 2008 4:00 – 5:00 p.m. E.T. Dial-in number: 1.800.605.5167 – Pass code - 341953 PowerPoint PPT Presentation


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Chapter Idea Exchange Call: Recruitment & Retention Robin Kite, Director, Chapter Services Mike McGough, VP, Marketing & Membership Dave Meisner, Manager, Membership Dev. & Web Content. February 14, 2008 4:00 – 5:00 p.m. E.T. Dial-in number: 1.800.605.5167 – Pass code - 341953 .

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February 14, 2008 4:00 – 5:00 p.m. E.T. Dial-in number: 1.800.605.5167 – Pass code - 341953

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February 14 2008 4 00 5 00 p m e t dial in number 1 800 605 5167 pass code 341953

Chapter Idea Exchange Call: Recruitment & RetentionRobin Kite, Director, Chapter ServicesMike McGough, VP, Marketing & Membership Dave Meisner, Manager, Membership Dev. & Web Content

February 14, 2008 4:00 – 5:00 p.m. E.T.

Dial-in number: 1.800.605.5167 – Pass code - 341953


Membership marketing

Membership Marketing

  • Who members are, what they want

  • Marketing basics, implementation

    • Direct mail

    • E-mail

    • Offers

    • Lists

  • Retention

  • Developing a chapter plan


February 14 2008 4 00 5 00 p m e t dial in number 1 800 605 5167 pass code 341953

Others — Academic, Retired, Students

Service Provider

Years of IR Experience

Corporate

5 and Under = 39%

6-9 Years = 26.5%

10+ Years = 34%

Counselor

Background

Corporate

Finance: 49%

Corp/Comm: 34%

Mktg/Sales: 16%

Corporate

Years of IR Experience

Counselor

5 and Under = 8.5%

6-9 Years = 16.9%

10+ Years = 74.5%

Background

Counselor

Finance: 26%

Corp/Comm: 57%

Mktg/Sales: 17%

Corporate = 74% of membership

Counselors = 14%

Service Provider = 9%


Niri member tenure

NIRI Member Tenure


Niri member survey 2007

NIRI Member Survey 2007

  • Resources members value in NIRI:

    • News and information on the IR field

    • Networking with IR Officers

    • Standards of practice/regulatory guidelines

    • Education and professional development


Important issues to members 2007

Important Issues to Members (2007)

  • SEC actions and investigations

  • Regulation FD

  • Greater sophistication in finance and communication

  • Establishing, maintaining, valuing the IR function w/senior mgmt, boards, & the Street

  • Earnings guidance

  • Hedge Funds

  • Targeting/stock surveillance/shareholder ID

  • Change in 13F filing rules

  • Changes in market structure

  • Investor trust

  • Executive compensation


Background research

Background/Research

  • Review your chapter surveys, research, and background information

    • Why members join, what do they value:

      • Education?

      • Networking?

      • Prestige?

      • Current IR information?

    • Who they are:

      • Special areas of need

        • Industry-specific IR information

        • Area issues

        • Other needs


Membership marketing basics

Membership Marketing Basics

  • Develop a unique selling proposition for your chapter and NIRI

    • The premier organization for IR professionals in (your city)

    • The best networking, education, IR information

  • Come up with your own personal story about how NIRI has enhanced your career

    • Personal viewpoints are compelling

  • What’s In It For Me (WIIFM) – remember to target the three “hot buttons” that contributes to a member’s investment of time

    • Professional development

    • Contributing to the greater good

    • Sense of belonging


Implementation

Implementation

  • Use multiple channels of communication

    • E-mail, direct mail, phone, in-person

  • Avoid faxing to prospects, anti-fax laws

    • faxing to current members is fine

  • Personalize all messages with names

    • “Dear Jane Sample” or “Dear Ms. Sample”

    • Not “Dear Prospect” or “Dear Professional” etc.

  • Use one to one marketing, a personal invitation to join with sender’s name and contact information


Direct mail

Direct mail

  • Aim for the look and feel of professional business correspondence

    • Chapter letterhead and envelopes

    • No envelope teasers or messages

      • Avoid a “junk mail” look

    • Keep letter copy brief, one page (one side)

      • Personalized to target audience, such as CFO’s or Communications professionals

    • Use a P.S. at the end – people do read these, if nothing else

    • Consistent fonts and type size

      • Use limited bolding or underlining for emphasis


E mail recruitment

E-mail Recruitment

  • Tuesday is best, then Thursday and Wednesday

    • Avoid the weekend and late at night (spam filters are on high alert)

  • Messages: keep brief, reduce scrolling

  • Double check links, phone #’s for correctness

  • To get around spam filters, avoid:

    • All caps in words

    • Multiple exclamation points

    • Frequent use of the word “free”


Offers

Offers

  • Give the prospective member something extra

    • Free chapter meeting or event

      • Free lunch meeting certificate

    • Publications

    • Percent-off coupon for seminars

    • Use a deadline for the offer to create a sense of urgency

      • “reply by…”


Recruitment lists

Recruitment Lists

  • Lists from NIRI National

    • Hoovers database and other prospect lists: request from Dave Meisner at NIRI, [email protected]

  • Chapter prospect database

    • If you don’t have one, develop a list

  • Lapsed member lists available from NIRI

    • Robin includes these in your monthly report packages each month

  • Google, Hoovers IR alerts or listings

    • Set up alerts to go to your e-mail based on key words

  • Scan Business publications (local and national)

  • Be sure to eliminate members from lists


Retention

Retention

  • Retention programs

    • Engage new members

      • Welcome phone call

      • Letter and e-mail with upcoming events

      • New member orientation meeting

      • Ask them to host an event, find a speaker, lead a meeting

    • Outreach to lapsing members

      • Lists available from NIRI

        • Phone calls or e-mail about upcoming events


Developing a chapter recruitment plan

Developing a Chapter Recruitment Plan

  • Organize a team

    • Include a variety of members

    • Distribute work load and responsibilities

  • Develop a plan

    • Written plan for recruitment and retention

  • Set goals

  • Outreach

    • Direct mail, e-mail, phone, in-person


Recruitment ideas

Recruitment Ideas

  • Invite prospects to regular events, not just a non-member reception

    • Hot IR topic will be compelling

  • Create programs that interest senior management

    • Prospects can bring ideas back to “C-Suite” – CEO, CFO, or COO


Recruitment ideas cont d

Recruitment Ideas (cont’d)

  • Staff the registration table with board members, showcase your leaders

  • Match members with prospects from the same industry or exchange

  • Place meeting notices in local publications

    • Calendar of business meetings

      • Major daily and local business pubs

      • Make placements on-line

  • Match veteran members from visible companies with non-member prospects


Chapter successes

Chapter successes

  • More Ideas – Additional tips can be found in the Chapter Officers’ Only Section at http://www.niri.org/mem_service_area/officers/index.cfm

  • Questions

  • Thoughts


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