3 ingredients for high value memberships

How successful professional memberships and expert networks evolve. It’s almost a cliche to say “we are going to be the Gartner of such and such.” It takes a fair amount of blood sweat and tears to get to a point where your members recognise the value you bring to the table. And it should be unique. Not the Gartner of…

The roots of Substribe were formed in the aftermath of the successful transformation story at Procurement Leaders. Since then, Substribe has gone on to support the founding or evolution of membership and expert networks at PEI Media, Faversham House, Leaders in Sport and more.

The recent blending of Board.org (‘a peer to peer platform for confidential discussions, in person and digital’) and Executive Platforms (organisers of summits for executives) reminded me of my days back at Procurement Leaders (2013-2018). This was a chapter of transition from plucky start up to something appealing enough to acquire.

By the time I left PL, which was a year before the acquisition btw, there was a decent combination of summits and expert network packaged up as a membership and accepted as such by its members. This included watering holes in good locations for senior executives. And virtual roundtables senior leaders and their teams.

There was a decent capture of strategic objectives and key people weaved into the organisation – meaning more focused, aligned sessions with a clearer focus on network quality. With meaningful contract values and predictable revenue retention.

We knew our USP – focus on procurement, the independent position, and the quality network. We were taking on the competition – big management consultancies and the likes of Corporate Executive Board (now a footnote in history), and feeling good about it. Because we knew the who, the why and the how.

This helped with key performance metrics such as contract value and lifetime value. But much more importantly, it excited the leaders of procurement functions about the potential we were unlocking. You could feel a pull to the membership, where in the past it had been all push. I’m still in touch with some members. Seriously impressive business leaders with big hearts. Not the stereotype of procurement. Don’t believe me? Have a look at Plexigrid who are reinventing electricity grids for the energy transition. It’s a fascinating start up, the CEO was a CPO in the PL network.

Reflecting on the journey at Procurement Leaders, the stuff we discovered on our journey still rings true today. There were no sudden epiphanies. Although some short cuts can be made, based on pitfalls to avoid!

And it wasn’t all flawless execution from the start. Far from it. It began with a mix of ambition, exciting noise, and … confusion. What felt like a narrow net at the time – the procurement function – turned out to be a net with big holes in it.

The lesson to be learned is this:

>Line 10: Learn to focus

>Line 20: Focus to learn

>Line 30: Go to Line 10

There is a difference between growing wisely and just growing. This story isn’t about the seamless application of analytics or sophisticated strategies. There is no magic wand. But there are plenty of people saying they’ve got one!

It’s a tale about stripping things back to basics. Understanding what makes people tick. And the pivotal realisation that not all growth is equal. I hope it resonates with you today – I have ongoing conversations in the membership and expert network space so it’s not just a lovely stroll down memory lane.

But if you just want to skip to the good bit, the 3 ingredients are:

1. power of simplicity
2. value of listening
3. meaningful growth

The Early Days: Internal competition

In the early stages, the confidence never wavered but the results did. We were fighting each other over the same wallet. Throwing different teams under the bus.

As our product started to gain traction in corporate subscriptions, and we increased our price, the complexities of managing a diverse and growing subscription base became apparent. You ask for more, people expect more.

Growth comes at a cost. The conventional wisdom of pursuing every potential customer and managing them under a uniform strategy led to a scattered focus and unmet expectations—both ours and our customers.

Turning Point: Listening and Learning

The real turning point came with a new leader, and the clever decision by the incumbent to get a new leader in place. She set a new goal for the organisation. A new leader with a different goal changes the game.

It wasn’t about leveraging the latest analytics tools – although plenty of magic wand technology was purchased along the way in the early days – but about embracing something far more fundamental: conversations.

We started talking more to our members, understanding their goals on both a personal and professional level. This wasn’t about data points but genuine engagement, listening to needs, challenges, and what true value means.

The Right Kind of Growth

This shift in perspective led us to recognise the importance of identifying the right kind of customer for our membership. It became clear that a ‘one size fits all’ approach was not sustainable.

Growth had to be meaningful, focused on attracting and retaining members who could truly benefit from what we had to offer, and who, in turn, contributed to the community in valuable ways.

Building Trust and Relationships

By prioritising these genuine connections, we built trust. This trust wasn’t earned overnight. It came from consistently engaging with our members, showing that we were invested in their success, not just as professionals but as individuals with unique goals and aspirations.

Reflecting on Our Journey

Looking back, the path was filled with lessons about the value of simplicity, the power of listening, and the importance of meaningful growth.

Our evolution was not so much about abandoning a ‘growth at all costs’ mentality – although that helped – it was more about understanding that the right growth comes from aligning our solution with the needs and aspirations of our members.

This is a gentle reminder that sometimes, the most impactful strategies come down to getting the simple things right: talking, listening, and building relationships based on trust and mutual success. With members. And with each other.