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Following a series of quarters that are characterized by fear and a negative mood In the third quarter, it is the perfect opportunity to look at the future for the future of the economics of membership.
The economy of membership is currently having one of the highest volatility period in its history. The rate of inflation is rising, as well with the stress that comes from increasing pressure on consumers will continue to drive trends until 2022. These developments and the intense volatility in financial markets are now affecting the entire economy.
The same goes with membership. As the projected 2022 amount of revenue generated by the 2021 membership boom soon began to appear beyond the reach of those who joined in 2021, the members had to look further than they ever before into each aspect of their overall strategies.
Simply put, for those who work as a member administrator, 2022 was a year that repeatedly challenged your faith frequently.
Each and every story told up to now has made you think that 2022 is likely to be particularly negative for our the members of the union and that we need to be ready for a downturn in all areas of consumer's day along with in every industry.
It's not easy.
To find the perfect moment
In tough financial times and within businesses, there are constant indications, signs and evidence of a pivotal spot near or upon our location. While we may not be aware the existence of a pivot point there for months and even weeks after an event but there's one thing that occurs for pivot points. It's whenever it occurs..
That Q3 moment did just this.
It was an occasion when representatives from the members' group saw promising results, despite a negative opinions. This was the moment when silence was stronger than doubt. It was at this point that the producers proved that their products were so useful that they could not let their clients remain without it.
This was the point of dispute.
The greatest risk to owners of memberships during recessions is becoming too negative. The members who were indefatigably certain about their business during this difficult year worked hard to design, plan and prepare for the next moment, despite the uncertain time frame of when the event would occur. Now that the third quarter is done and the book has been closed which means we can gaze into the rearview mirror with confidence that this is actually being carried out.
The uncertain nature opens doors to possibilities
Our customer's memberships beat the market in the March quarter that ended in. In all of our services, we've seen that these members have set new records in revenue, retention rates, and member numbers. We're on the right path and not being impacted by the bigger news stories enabled our clients to benefit from the increase of member count we witnessed in the 3rd quarter.
A well-planned and executed membership strategy is a driving factor of membership results in times of uncertainty. Our experience has shown the highest returns being realized when members invest into their businesses in times of recession, while remaining towards being more cautious during times when they are experiencing rapid expansion. This strategy has allowed our clients to access funds to finance their business when they need it like the one we observed at the beginning of 2022.
It's a long-term endeavor and those with this mindset are aware that outside uncertainty and negative emotions can create long-lasting possibilities for the sustainable development of the members.
As a membership operator You can't determine the precise time for ups and downswings like those we witnessed in Q3, but you are able to prepare for them.
The one thing that is certain is that these moments will come right when you will not think about them.
Continue to build.
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