Calendar
After a string of quarters that have been marked by anxiety and negative sentiment, the 3rd quarter is an important period regarding the outlook for the future of the economy of membership.
The economy of membership has been having one of the most turbulent times in its times. The rising inflation rate, increased anxiety and a more preoccupied consumer have been driving the trends through 2022. The repercussions of these developments, as well as fierce volatility in financial markets are now affecting almost every field.
The same goes for membership. As the 2022 projections of revenue made during the membership boom of 2021 quickly began to seem out of reach the year, members were forced to think deeper than ever before into every element of their overall plan.
Simply put For those who are a membership administrator, the year 2022 repeatedly tested your conviction repeatedly.
Every narrative that has been told to date has you thinking that the remainder of 2022 will be very negative for membership and that we must be prepared for a slowdown in every consumer sector each market, and in all enterprise.
It's not that easy.
Looking for the moment
It's true that in tough market conditions and in business, there are always indicators, signs and proof of a pivot point either near or upon us. Although we rarely be aware of a turning point until months and weeks after it occurs, there's one thing which always occurs with turning points and that's the moment.
Q3 was precisely that moment.
It was a moment where the members' representatives saw very positive results despite a negative opinions. This was the moment when the silence was louder than the confusion. It was a time when operators confirmed their product was so valuable that members simply refused to live without it.
The was the moment of discord.
The greatest risk to membership operators during economic slowdowns is becoming too negative. Customers who were steadfast and confident about their businesses through this difficult year have continued to build, prepare and prepare for the moment not knowing exactly when it would take place. Now that the third quarter is officially in the books and we can look in the rear-view mirror and say with confidence that it is, actually, happening.
The uncertainty creates opportunities
The memberships of our customers outperformed the market in the quarter ended March. All across our portfolio of products, we've witnessed these memberships set new records for their revenue, retention and member counts. By staying on the right track and being unaffected by larger stories allowed our customers to profit from the increase in member numbers we observed during Q3.
The sound management of the overall the membership strategy is a driving factor of membership results in difficult environments. We see the best payoffs occurring when operators choose to invest aggressively into their business during a downturn while leaning more conservative when growth is accelerating. This strategy has allowed our customers to have financial resources available to fund their business at the right time like the ones we saw in the beginning of 2022.
It's a long-term game and customers who operate with this mindset realize that outside uncertainty and negative feelings create long-term possibilities for sustainable growth of membership.
As a membership operator You can't know the exact timing of upwards and downswings such as those we witnessed during Q3 however you are able to prepare for them.
One thing you can guarantee is the fact that these moments will come just when you would least think about them.
Keep on building.