Recent statistics and studies predict a changing market landscape for associations and member organizations this year. Specifically, there will be big changes in the areas of member marketing, online benefits enrollment and benefits administration. Following you’ll find a few of these key facts and their potential impact on your organization:
New challenges and opportunities for member organizations
According to a 2013 Membership Marketing Benchmarking Report “increasing member engagement” and “increasing both membership acquisition and retention” are the top two goals for associations and other member organizations.
The same report cites that the top three challenges to growing memberships are “insufficient staff,” “difficulty attracting and/or maintaining younger members,” and “perception of the association and/or its culture.”
Learn more about the biggest challenges your organization will face in the areas of benefit enrollment and administration this year.
High consumer expectations around the enrollment experience
According to a 2013 study, 75% of employers that achieve very satisfactory benefit enrollment rates have a buying experience that compares favorably with the best online shopping experience. It’s not a stretch to assume that the same correlation exists for member organizations as well. Key attributes of this “premier” online experience include an easy enrollment interface, a benefit shopping cart and contextual product guidance and comparisons.
Outsourcing benefit administration will become the new norm
Member organizations are expected to follow the lead of large employers, who have increasingly turned to outsourcing to streamline benefits administration. In fact, 91% of employers surveyed recently said that outsourcing benefits administration provides value.
Benefits Administration Outsourcing in the U.S. is now a $6.1 billion industry, according to a recent report.
The top two reasons companies outsource according this survey include:
• The ability to focus internal staff on core business or strategic issues (39% of respondents)
• The potential to reduce the cost of administration (42% of respondents)
A new study reveals that when organizations outsource benefits administration, they experience 17 percent lower average costs than companies that keep the responsibility in-house. ($199 vs. $165 per employee per year).
The rising popularity of mobile usage, online videos and social media will impact member communications
Nearly two-thirds (63%) of cell phone owners now use their phone to go online, according to a new survey.
YouTube has now reached 1 billion unique monthly users.
The voluntary benefit market will continue to grow
Nearly six in 10 companies say that voluntary benefits are a significant part of their benefits strategy, according to the latest research.
Learn more about how your organization can leverage innovative member engagement, enrollment and benefit administration solutions that will help you capitalize on these trends by downloading our recent white papers.