VOI versus ROI, but VOI means much more than money.
ROI literally means “return on investment” and VOI “value on investment”.
“Most of the benefits of membership go way beyond monetary exchanges. Let’s expand on the VOI concept and substitute “Investment” in VOI for other intangible words that start with “I” and explore how membership delivers value for:
Information—We provide timely and relevant information our members use (e.g., newsletters, publications, blogs, updates on issues and outcomes).
Initiative—On behalf of our members, we take a stand on issues and ensure that a business voice is included before decisions are made.
Impact—Our initiatives create impacts that benefit our members, the business community, and industries we serve.
Influence—Because we proactively monitor business issues and take actions where needed, we are seen as one of the most influential organizations in our community, state, or nationally.
Interaction—We provide opportunities for members to make connections, share information, and learn best practices from a community of their peers.
Instruction—We offer timely, industry-appropriate, and cost-effective educational opportunities so members can sharpen their skills, stay compliant, and compete locally and globally.
Insights—Members gain valuable knowledge, best practices, and learn from other members and industry experts.
Integration—Members can apply what they have gained to their own organizations to meet their goals.As associations, we deliver on VOI, which includes both financial and intangible benefits for our members!”