Can you manage emotions?
This represents the final segment in a three-part series expounding on the recently released blueprint for membership retention the Power of E3 (Engagement, Experience and Emotion). The previous segments discussed in detail:
- Engagement as defined in the private club environment by the degree and depth of interactions a member and/or spouse/significant other has with the club. Click here to read this blog
- Experience defined as the holistic perception of every interaction and touchpoint a member, spouse/significant other has with the club. Click here to read this blog
This third segment focuses on the role Emotions play in member retention as defined by the way a member’s brain gives meaning to past experiences and influences to form feelings about the club.
The challenge many organizations and leaders face when trying to understand and manage emotions is their subjectiveness. This subjectivity in the private club world shapes intangible emotions like trust, confidence, and other key perceptions like value. Generally, the more positive these emotions the stronger the member’s emotional connectivity and corresponding loyalty and retention. So how can you assess your member’s emotional connectivity? Following are three key areas:
- Sentiment – often measured by questions like the degree of pride a member takes when bringing a guest to the club and the feeling of strong ties to other members at XYZ Club. Another example of the power of sentiment are the bonds that form between members and staff and corresponding connectivity. Often called “top-of-mind” feelings, sentiment plays a major role in the degree of engagement and loyalty a member has with the club and ultimately whether they remain a member.
- Confidence – frequently measured by the level of confidence a member/spouse has with the Board, management, and/or staff. A good example of the role confidence plays in member emotions unfolded this past year as a result of the COVID crisis. Largely, member confidence in private clubs improved this past year with cleaning protocols, social distancing, expanded outdoor dining, to-go offerings, etc. Clubs became a “safe haven” of sorts as clubs worked hard to provide a safe environment for their members. Transparency and authenticity are vital to garnering member confidence and building emotional connectivity.
- Perceived Value – many in the private club world shun the idea of member’s/spouse’s assessing perceived value in the fear it may spark a member’s deeper cost/benefit analysis. In reality, it is an invaluable metric to track member emotional connectivity and provides an early warning signal of potential defection.
As we emerge from the COVID crisis, member engagement, thirst for experiences, and desire for emotional connectivity will be unprecedented. Are you ready for the new normal? Are you set to deliver experiences members can’t get anywhere else? Are you embracing personalization and emotional connectivity?
The clubs who will enjoy sustained success will be the ones that fully embrace the Power of E3 and exponentially increasing the odds of long-term membership health.
If you are interested in discussing deploying the Power of E3 at your club to enhance retention, please visit our website at www.clubinsights.com or contact Peter McCarty 517-420-5457, Rick Coyne 214-679-8496 or Gary Eversole 419-215-6992