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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
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
slide3
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 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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