Membership Payment Plan

The “Membership Payment Plan” in the Finance module of Retention CRM allow membership organizations such as Associations, Chambers of Commerce and Nonprofits to set up automatic recurring memberships, facilitating a smoother membership experience.

• Streamlining Membership Management: Automated renewals reduce administrative tasks associated with manual renewals, freeing up staff time for other activities.
• Predictable Revenue Stream: Recurring payments ensure a steady flow of income, aiding in financial planning and budgeting.
• Improved Member Retention: Automatic renewals reduce the risk of lapsed memberships due to forgotten payments.

How to Use “Membership Payment Plan” in Association Management

Here’s a breakdown of the available fields and settings.

• Use the latest price when auto-renew membership? (Yes/No):
  • Yes: If a membership fee increase occurs, members will automatically be charged the new rate upon renewal.
  • No: Members will continue to be charged the original rate they signed up for.
• Payment processor for back office:* (Required):
  This field specifies the payment gateway used to process recurring transactions. Choose the one integrated with Retention CRM that your association utilizes.
• Days to renew in advance:* (Number):
  Set the number of days before membership expiration to automatically trigger the renewal payment. This provides members with advance notice and avoids service disruptions.
• Custom groups to be excluded when auto-renew: (Optional):
  If specific member groups (e.g., student memberships) shouldn’t be auto-renewed, select them here.
• Update start date on renewal? (Yes/No):
  • Yes: The membership start date is updated to reflect the new renewal period.
  • No: The original start date remains unchanged.

By configuring these settings, your nursing association can establish a convenient and reliable system for membership renewals, strengthening member relationships and ensuring consistent revenue.

More Use Cases for Associations, Chambers of Commerce and Nonprofits

Tiered Membership for Animal Shelter (Non-Profit)

Membership Tiers: Friend ($25/month), Companion ($50/month), Guardian Angel ($100/month)

• Use Case: The animal shelter wants to offer tiered memberships with recurring donations to provide predictable income for animal care. They can set up three Payment Plans in Retention CRM, each with a different amount corresponding to the membership tier. They can set “Use latest price when auto-renew membership?” to ‘Yes’ so that members are automatically charged the updated amount if the membership fee increases in the future. This ensures a sustainable income stream for the shelter’s vital operations.

Discounted Renewal for Chamber of Commerce

Membership Type: Standard Membership ($500/year)

• Use Case: The chamber of commerce wants to incentivize members to renew their memberships by offering a discount for automatic renewals. They can set up a Payment Plan in Retention CRM with the standard $500 yearly fee. In the “Days to renew in advance” field, they can enter a specific number of days (e.g., 30) before the expiry to trigger the renewal. They can then create a custom discount code for a specific percentage (e.g., 10%) off the membership fee. Members who choose to auto-renew will be prompted to enter the code during checkout, resulting in a discounted renewal fee.

Event Access Management for Historical Society (Association)

Membership Type: Basic ($20/month), Premium ($50/month)

• Use Case: The historical society organizes exclusive events and lectures throughout the year. They want to leverage Retention CRM’s Membership Payment Plan to manage event access based on membership tiers. They can set up two Payment Plans – one for Basic and one for Premium memberships. In the “Custom groups to be excluded when auto-renew” field, they can select the “Basic” member group for specific events with premium access. This ensures that only Premium members are automatically charged the renewal fee and granted access to these exclusive events. This streamlines event management and provides a tiered value proposition for their membership.