Strategically, it would be wise for any industry membership business to outline to its users its inherent belief in and support of the industry it serves. This is a theme I will return to later in the book. For now though, one way in which it could be seen as having these values is through corporate philanthropy.
For example, Education and access to technology have been identified as key drivers to achieving a fairer playing field for future generations.
Therefore, each year the parent company would aim to give away 10 per cent of its net profit to registered charities in the education space, as democratically voted for by its shareholders at the AGM, or by its membership.
This is a key statement that could be made on the website and to members. It would go down exceptionally well with the users of the product and centre the business as being a platform supporting the industry and society as a whole.
A supplementary by-product of a policy in this area could be a positive impact the membership churn rate both for individual subscribers and for corporate members.