Membership fees are an integral aspect of membership programs, so you’ll want to be careful as you select the right price for membership.
To determine an appropriate amount, you’ll need to consider a number of factors, the most important of which is your membership goal.
When selecting a goal, you should either aim to raise a certain amount of funds or set a target number of members you’d like to acquire.
If your membership structure is based primarily on fundraising, determine how much you’d like to raise, and how many members can reasonably get you there.
If your membership structure is not rooted in fundraising, you’ll want to aim for a number of members rather than a monetary amount.
Furthermore, your membership fee should take into account the type of perks you’ll offer. For instance, a museum membership program might include free passes or discounted tickets. The membership fee should provide value to your supporters but also help you raise funds.
Since you’ll be focused on recruiting, your membership fee should be set at a point that’s both feasible for most new recruits and profitable for your organization.
Move on to the next step when: You’ve decided upon a membership fee amount that makes sense in relation to your membership goals.