Lifetime Class Partnering Dues Discussion. February 10, :00-1:00 pm

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Raymond Cook
5 years ago
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1 Lifetime Class Partnering Dues Discussion February 10, :00-1:00 pm

2 Agenda Recent Dues Trends It Takes a Village to Collect Dues Why Do People Pay Dues? Intangible motivations Tangible reasons You Need to Ask! The how to page on successfully collecting dues...

3 Recent Dues Trends Dues participation has been in steady decline in recent history Overall participation rate is down 18% over the past 10 years Younger classes tend to have lower participation than others Average dues collection for youngest 10 classes is under 10% for the first time in 2014 The gap is widening Dues support of the DAM, was removed several years ago and it affected dues participation

4 Recent Dues Trends FY10 FY11 FY12 FY13 FY14 Highest Dues Participation 74% / 59 73% / 59 65% avg ( 59, 62, 54) 66% avg ( 53, 59, 62) 66% avg ( 54, 59, 62) Lowest Dues Participation 9.5% 6.7% 5.7% avg 5.9% avg 1.4% avg Average Dues Participation 38.6% 36.2% 33.8% 33.5% 30.8% Total Funds Raised includes Projects $1,135,596 $1,105,839 $1,136,347 $1,140,909 $1,056,630 Highest Funds Raised by Class $33,990/ 80 $31,366/ 59 $37,255/ 87 $35,583/ 53 $31,648/ 78 $30,412/ 58 $38,663/ 57 $35,759/ 79

5 Survey: Did You Reduce Dues After DAM Went Away? By $5 or less By $6-10 By $11-15 About 1/3 of classes in survey have lowered their dues amounts By more than $15

6 It Takes a Village to Collect Dues Executive Committee Create interesting projects so due letters can tout what dues support Create a class culture which supports the things that the class values President Assist in dues collection by keeping all parties focused on the tasks below Newsletter editor Do newsletters regularly and include the ask for dues. Include links to the website with Paypal button in electronic newsletters Mention what dues do to help the class and what they support Webmaster Maintain updated website Dues button prominent on landing page Mini-reunion Chair Create interesting events and talk about how dues made the events possible

7 Why do people pay dues? Intangible reasons It feels right Momentum (been doing it for years) Tangible Support of class mission(s) Mini-reunion/reunion support

8 Intangible Considerations Ask yourself, what makes your class tick? Identify the emotional underpinning of your class and use that to motivate giving Share the results of what dues are accompishing in your asks to make the giving real to classmates Dues are an really just an end product of what a class does

9 Why Should They Pay Dues??? Do you have meaningful projects? Do you offer class events? Mini-reunions Trips Are you communicating what you are doing? Paper Newsletters Online communications

10 The College Offers Tools Quickbase tracks all payments Ledyard classes payments automatically entered into Quickbase 3x per year, College helps with a snail mail solicitation All you need to do is turn in a letter Relatively low cost You can do unlimited requests No cost

11 ... But You Have to Ask! Classes who have low participation don t solicit dues. Do the snail mails, starting early Do requests (particularly younger classes) Need to make it easy to pay Do you allow online pay? Put the Paypal button on your website! Put the link on letters and s... And newsletters In a recent survey, only 20% have completed the training for s

12 ... But You Have to Ask! Be clear on your use of funds Projects Events Some provide an incentive Sweater, Sticker Express gratitude! thanks for dues

13 Is Your Treasurer Ready or Equipped? Almost 50% of treasurers have served <5 years. 65% have not yet trained on imodules (the tool) 20% more did not send an last year Is your treasurer trained in imodules? Is your executive committee clear on its desires to solicit dues?

14 Other Initiatives Class of 2002 has rebranded the language of dues. They now offer class sponsorships The Treasurers Association spearheaded a Proactive Mentoring plan during Does your treasurer participate? Martha said she would talk to DCF folks about sharing best practices, making the ask for dues along with DCF, and other ideas Should we consider a more paternalistic approach to dues for the younger classes to create momentum? Similar to an opt-out 401(k) plan at work. Classes would automatically send dues mailings and have a project, unless they opted out

15 Collecting Dues 101 Calendar Date Late July Late October Late January Late March Late April Late May Dues-Related Task Submit 1 st dues letter to College Submit 2 nd dues letter to College Submit 3 rd dues letter to College Send to non-dues payers (90 days left in Fiscal Year) Send 2 nd to non-dues payers (60 days left) Send 3 rd to non-dues payers (30 days left) Checklist of best practices for collecting dues (aim for 8 out of 12) Send at least one to LYBUNTS list after December Ask for dues the fiscal year prior (have consistency in your solicitations) The webmaster has a dues payment button on the class website (use the link in solicitations) Add the dues payment web links to your paper solicitations The newsletter editors create engaging newsletters per year with a plug (and link) for dues in each one The mini-reunion chairs create lots of events and the publicity mentions that they re paid for by class dues Your class has meaningful class projects paid for by class dues or through treasury, class knows about them The president s out and mentions importance of dues (projects, newsletters, mini-reunions, reunions) Attend COW in September to discuss strategy with exec. committee and the village role in the dues effort Report at least twice a year to exec. committee on dues progress to keep everyone focused Think outside the box: coordinate with DCF, use incentives, rebrand dues as sponsorships, use Venmo, etc. At every chance you get, communicate to the class connecting dues to all the great stuff your class is doing!

16 Questions?

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