From police associations to trade groups, joining any association can offer a lot of perks. 

For businesses, these memberships often come with a range of benefits—from networking opportunities and industry insights to increased visibility and exclusive resources. But how do you know if you’re really getting your money’s worth? To figure this out, you need a solid plan and here are 3 tips to get you started. 

Define Clear Objectives

Knowing what you want to achieve with your association membership helps you measure if it’s really worth it. Without clear goals, it’s tough to see if you’re getting the value you expected.

So:

  • Think about what you hope to get from the membership. Are you looking to make new connections, learn industry secrets, boost your brand’s visibility, or access special resources?
  • Create goals that are Specific, Measurable, Achievable, Relevant, and Time-bound (SMART). For example, you might aim to “Attend three networking events each quarter and get five new contacts from each.”

Track and Analyze Membership Benefits

Next, you want to keep track. Keeping tabs on the benefits you get from the association helps you see if the membership is really paying off. It’s all about making sure that what you’re spending matches up with what you’re getting back.

You want to:

  • Write down all the benefits you receive, like event invites, discounts, networking chances, and special content.
  • Track how often you use these benefits. For instance, note the number of events you attend, leads you generate, or discounts you use.
  • Look at the total cost of membership and weigh it against the benefits you’ve received. Consider both direct savings (like discounts) and indirect benefits (like new business opportunities).

For example, if your association gives you discounts on industry publications, keep track of how many you buy at the discounted rate compared to the regular price. Calculate the savings and see if it makes the membership fee worthwhile.

Solicit Feedback and Review Impact

Getting feedback and reviewing the impact of your membership helps you understand if it’s really meeting your needs. It’s about figuring out what’s working and what might need adjusting.

How do you get proper feedback to review?

  • Regularly check in with employees who interact with the association. Find out what they think about the benefits and how they’re using them.
  • Look at the feedback along with the benefits you’ve tracked and your goals. Identify any patterns or common themes that show whether the membership is effective.
  • Use what you learn to tweak your strategies or goals. This might mean focusing on different benefits or changing how you engage with the association.

For example, you might hold a review meeting with your team to discuss their experiences with the association. If they find networking events valuable and have made useful connections, that’s a good sign the membership is paying off. If certain benefits aren’t being used much, consider shifting your focus or resources to better meet your goals.

Really, figuring out the ROI of your association membership doesn’t have to be complicated and these tips can ensure that every dollar spent is contributing to your business’s success. Every association can be very beneficial and you want to make sure that you’re part of one where you’re getting the most of what they have to offer.