Transcript Slide 1

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
Membership Marketing
• Who members are, what they want
• Marketing basics, implementation
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Direct mail
E-mail
Offers
Lists
• Retention
• Developing a chapter plan
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Years of IR Experience
Corporate
Background
5 and Under = 39%
Corporate
6-9 Years = 26.5%
10+ Years = 34%
Finance: 49%
Corporate
Corp/Comm: 34%
Mktg/Sales: 16%
Years of IR Experience
Background
Counselor
Counselor
5 and Under = 8.5%
Finance: 26%
6-9 Years = 16.9%
Corp/Comm: 57%
10+ Years = 74.5%
Mktg/Sales: 17%
Corporate = 74% of membership
Counselors = 14%
Service Provider = 9%
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NIRI Member Tenure
Years in
NIRI
Corporate
Counselor
Service Prov.
Less than
1 year
10%
6%
10%
1 – 2 years
26%
14%
30%
3 – 5 years
27%
21%
27%
6 – 9 years
23%
24%
21%
10 + years
14%
35%
12%
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NIRI Member Survey 2007
• Resources members value in NIRI:
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News and information on the IR field
Networking with IR Officers
Standards of practice/regulatory guidelines
Education and professional development
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Important Issues to Members (2007)
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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
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Background/Research
• Review your chapter surveys, research,
and background information
– Why members join, what do they value:
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Education?
Networking?
Prestige?
Current IR information?
– Who they are:
• Special areas of need
– Industry-specific IR information
– Area issues
– Other needs
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Membership Marketing Basics
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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
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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
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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
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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”
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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…”
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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
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Retention
• Retention programs
– Engage new members
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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
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Developing a Chapter Recruitment Plan
• Organize a team
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Include a variety of members
Distribute work load and responsibilities
• Develop a plan
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Written plan for recruitment and retention
• Set goals
• Outreach
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Direct mail, e-mail, phone, in-person
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Recruitment Ideas
• Invite prospects to regular events, not just a nonmember 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
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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
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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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