As a part of the member engagement team at the Partnership, I work closely with our members on strategy and aligning their business objectives with our marketing opportunities.
As a result of any investment a member makes in the Partnership, we are often asked to provide a return on that investment (ROI).
Rather than defining the benefits of membership using ROI, I’d like to introduce you to the concept of value on investment (VOI).
The VOI concept was first introduced by Gartner, the world’s leading information technology research and advisory company.
VOI is defined as “intangible assets that contribute heavily to an organization’s performance… Where ROI is the measure of tangible benefits of a project or activity, VOI is the measure of the intangible benefits of a project or an activity. VOI includes ROI.”
VOI means much more than dollars spent.
The VOI concept applies to the often overlooked and unexpected benefits of membership investment.
Most of the benefits of membership go way beyond monetary exchanges, and include:
- Information: The Partnership provides timely and relevant information to members using a variety of sources including, e-newsletters, social media, council involvement, our website and events.
- Initiative: On behalf of our members, we take a stand on issues and ensure that a business voice is included before decisions are made.
- Impact: Our initiatives create impacts that benefit our members, the business community, and the industries we serve.
- Influence: Because we proactively monitor business issues and take action, we are seen as one of the most influential organizations in our community and throughout New York state.
- Interaction: The Partnership provides opportunities for members to make connections, share information, and learn best practices from a community of their peers.
- Insights: Members gain valuable knowledge, best practices, and learn from other members and industry experts through participation in our events and councils.
Your member engagement representative is available to help you get the most out of your membership.
Contact me today to learn how to truly activate your membership benefits in order to receive the best and highest VOI.