Crafting a unique member value proposition
Creating a unique member value proposition (MVP) is crucial for associations, directly impacting engagement and membership growth. A well-defined MVP differentiates your association from competitors by clearly articulating the unique benefits and value members receive. A compelling MVP not only attracts new members by addressing their specific needs and aspirations but also retains existing ones by continually delivering value, building a loyal and engaged member base, ultimately ensuring sustained growth and relevance in their field.
In this Talk, we explore how the International Cooperative and Mutual Insurance Federation (ICMIF), a global membership association uniting over 200 insurance companies from 60 countries, has approached and defined their unique MVP. With such a diverse membership base, ICMIF has embarked on a journey to develop a tailored approach to member engagement, refining its service proposition to provide value while aligning with the strategic priorities of its members. As ICMIF looks to expand its membership, it had to articulate the unique benefits of belonging to a global association compared to other national or regional trade associations.
Ben Telfer, Senior Vice-President of Membership at ICMIF shared practical tips on:
- How ICMIF has shifted its focus in recent years to provide member-only value and services,
- The development of ICMIF's MVP to become more inclusive through virtual networks, online forums, and an on-demand resource center,
- Strategies ICMIF uses to articulate the uniqueness of its membership benefits, differentiating itself from other associations or resources,
- Leveraging the intelligence within its global membership to offer “peer consultancy” and facilitate a unique depth of knowledge sharing.