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words & table) By Ed Rigsbee, CSP The quick answer is a bunch! However, that is not the kind of answer that quality professionals generally desire. Today, armed with three years of data, I believe a have a substantive answer to this question. Over three consecutive years (2005-2007), ASQ invited me to attend the World Conference on Quality and Improvement to conduct two sessions per conference of my Member Value ProcessTM. A random sampling of ASQ member, conference registrants, was invited to the sessions. This is a process, one that includes art and science, in which I draw from a representative sample of ASQ members, their belief as to how much dollar value they receive from their ASQ membership on an annual basis. This gives a return on investment (ROI) number for the attendees. Most ASQ members spend under $200 per year on their membership and they receive about $10,500 in return for their investment. That’s over $50 in return for every dollar spent in ASQ membership. In anybody’s book, that’s enormous ASQ membership,
spend a dollar and get fifty back—it’s a No-Brainer. Now that I’ve made such an outrageous statement, I had better prove myself. Listed below are the actual yearly sustainable, real dollar value numbers from the six sessions: · 2005 Session 1 — $8,100 · 2005 Session 2 — $5,150 · 2006 Session 1 — $14,919 · 2006 Session 2 — $13,550 · 2007 Session 1 — $9,750 · 2007 Session 2 — $11,550 A grand total of $63,019, divided by the six sessions, equals $10,503 average yearly sustainable real dollar value that ASQ members receive. Divide the $10,503 yearly member value by the $200 yearly membership investment and you get 53 times the ROI. Rounded off, you get $50 dollars in return for every $1 you invest in your ASQ membership. In each session, the specific value line items differed a bit, but there were some commonality among all six sessions. The top ASQ member value items were:
You might have noticed in the above information that no value was assigned to the World Conference; there is a reason for that. During the sessions, I specifically asked participants not to include the value of the annual conference. My reason for this is simple. ASQ has a membership of over 90,000 yet only one to two thousand attends the conference each year. While it is undeniable that the conference delivers huge value to all that attend, I wanted to determine the yearly sustainable, real dollar value that ASQ delivers to the lion’s share of its membership. Needless to say, your personal value could easily be much, much higher. The next time a colleague, or your employer, asks about the value you receive from your ASQ membership, tell them that for every dollar invested, you get 50 back in value—now that’s value! # # # # # # # # # Ed Rigsbee, CSP is the Chief Member Evangelist at Grow Your Association, a consultancy organization that helps trade associations and professional societies to grow. He is the president and executive director of Cigar PEG Educational Institute, a 501 (c) (3) public charity that serves to improve the industry of professional speaking. Ed is the author of four books: PartnerShift, Developing Strategic Alliances, The Art of Partnering, and Brian Gets to Play. He has over 1,500 published articles to his credit and is a regular keynote presenter at trade association and corporate conferences across North America. He can be reached at 800-839-1520 or www.GrowingYourAssociation.com |
How
Much ROI Value Does American Society for Quality Deliver to Its Members?
