Card Vault Lowers Cancellation Rates & Cuts Costs

Posted on November 8, 2016 in General

Membee recently sat down with Lisa Durocher, VP of Marketing, Events and Member Enrichment over at the Cambridge Chamber of Commerce. Below highlights some of the main things she has found since activating Card Vault. Specific advantages include: Lowering membership cancellation rates by offering a more appealing membership payment model that is fully automated Reducing …

Lowering membership cancellation rates by offering a more appealing membership payment model that is fully automated
Reducing operating costs and transaction costs absorbed by members
Reallocating resources away from administration and towards growth

If you want to read up on what Card Vault is and how it is a membership game changer, visit our previous blog post: Card Vault Offers More Ways for Members to Pay

Lower Cancellation Rates

When talking to Lisa she explained that she and the Chamber were very excited about Card Vault and wanted to jump on it right away. They noticed a positive change immediately once introducing the monthly renewal option, made possible only by Card Vault. It resulted in their cancellation rate going down significantly. She mentioned that the smaller monthly subscription fee is a lot more appealing to many of the members and potential members, compared to the large yearly lump sum.

The Chamber is now marketing the monthly subscription fee over the yearly rate and they have already gained new members they would have otherwise lost because of the yearly subscription. Lisa and the Chamber anticipate only good things with this implementation of Card Vault when it comes to new member sales and retention.

Saving You and Members Money

Previously the Chamber was using Electronic Funds Transfer (EFT), so they had to pay a monthly banking fee for every transaction processed, being about a dollar per transaction. Now that they are using Card Vault they no longer need to pay this charge, or pass it along to their members. Saving you and your members money is reason enough to get Card Vault working for you and your organization. The added benefits and convenience it offers is the cherry on top.

Lisa says in the short time they’ve been using Card Vault they are already saving close to $1500 – 2000 a year. This number will only increase once more and more members switch over to using Card Vault.

Shifting Resources to Become More Relevant

Previously, staff members over at the Cambridge Chamber of Commerce would spend about 5hrs a month correcting EFT transactions. Since introducing Card Vault, the Chamber has freed up around 60hrs a year. Lisa and her staff are excited to focus on other things such as membership sales and an even higher level of customer service.

Membee is here to help you and your staff focus less on administrative tasks, and more on expanding your organization. Let Card Vault be your organization’s new MVP for membership sales and renewals!

Ready to get Started?

Let’s get to work and get those new revenues rolling in! The link below will provide everything you need to get started using Card Vault (the document is secure so be sure to have your Membee username and password handy when you click the link).

Setting Up Your Payment Gateway

If you have any questions at all or just want some quick tips, head over to our customer support! They love helping Membee users utilize their subscriptions to its full potential.

email: support@membee.com, or head over to the Help of the Hive page (login required) to use our Chat feature!

The Cambridge Chamber of Commerce

Lisa Durocher

Lisa Durocher is the VP of Enrichment, Events and Marketing with the Cambridge Chamber of Commerce. Lisa has been involved with organizing all Chamber events and programs since 2002, later becoming responsible for the Marketing for the organization and in 2016 assumed the undertaking of our new Customer Enrichment program. Lisa is also responsible for the implementation of all Membee updates. Previously, Lisa worked at the local daily newspaper owner by Thomson Newspapers; later Torstar for 15 years as the National Sales Rep and later the Sales Manager.