RETENTION BEST PRACTICES Ruth Littlefield Ruth Littlefield, IOM, CCE Vice President, Membership Development & Relations

Who is the Tulsa Regional Chamber? 60 staff 6 Divisions Education & Workforce Tulsa’s Young Professionals Economic Development Small Business Government Affairs Tourism & Sports Marketing & Communications Executive

Resource Development team VP Membership Development & Relations (2) Business Development Managers (new) Member Relations Manager (existing) Information Specialist Director of Resource Campaign and Affinity Programs Director of Development Resource Development Coordinator

Membership Snapshot 2012 ending = 3,087 members 2012 new members = 526 2012 Retention = 83% members / 88% dollars Total membership revenue = $2,675,304.50

Non-Dues Revenue Sponsorships Resource Campaign 19th year / 180+ volunteers 10 week campaign (April-June) 2012 total = $3.5+ million 387 investors 95% retention rate Sponsorships

Capital Fundraising Tulsa’s Future II Strategic initiative for economic development Measured by # of jobs created 2nd phase / 3rd year of 5-year commitment $16.4 million 140 investors Investors include regional cities and chambers

Capital Fundraising VisitTulsa Strategic initiative for tourism & sports Measured by # of room nights & new events $3.6 million / 3-year commitment 40 investors Include regional cities and corporations

83% of total revenue comes from 150 members $8.6 million annually 80/20 Rule 83% of total revenue comes from 150 members $8.6 million annually

Investor Relations Ranked investors by total investment Tracking calls, investment size and retention Assigned a sr. mgmt. and other staff for “thank you” visit (multiple phases) Visit multiple representatives in the company

Investor Relations President & CEO and Sr. VP’s meetings are sent to Resource Development team weekly Info sent for current investors New investors – create investment opportunities to take on call

Billing Invoice 5% Voluntary Increase

Annual Budgetary Billing Letter Annual Budgetary Billing

Benefits of Voluntary Increase & Budgetary Billing Paying over their fair share: 1,238 members 40.3% of total membership pays over fair share Total dollars over fair share: $614,628.50 These dollars make up 23% of the entire budget

Billing Past Due When to drop the member Coding drops Drop letter 60 DAYS Prior to Due Date Letter/invoice 30 DAYS Prior to Due Date Invoice CURRENT Month Due Insert/invoice 30 DAYS Past Invoice PAST DUE stamp 60 DAYS Past Personal call, email, visit Past Due When to drop the member Coding drops Drop letter 18 month drop letter Monthly meeting with CEO & EVP/COO - At risk list - Board of Directors

Professional Pathways Create a plan for the different types of employees you serve or industries in your membership Small Business Corporations Retail stores Advertising/Marketing Sales Representatives Create segments for member benefits Business builder Business investor Community builder Community investor

18 month Drop Letter

The Life of a Membership Welcome – lag time? New member packet- what’s in it? Partnership offerings – publications, upcoming events New Member Orientation Monthly emails-2 month, 6 month, 14 month Communications – weekly newsletter and events email Where are your members recognized? Thank you for payment Verifications to update information

Ruth Littlefield, IOM, CCE Questions? Ruth Littlefield, IOM, CCE Vice President Membership Development & Relations RuthLittlefield@tulsachamber.com 918-560-0280

Investment Formula