Learn how to Calculate Your Retention Rate »
Your renewal rate is the percentage of members that renew their membership over a given period. First, gather the necessary data: your members up for renewal, and how many members renewed. Once you have these ready to go, solving for the renewal rate is not difficult, simply plug it into this calculation:# of Renewals ÷ Eligible Members
For example, In 2021, 3,000 members were up for renewal, and 2,825 were renewed.
2,825 ÷ 3,000 = .94. Renewal rate = 94%.
Keep your members at the heart of your association’s mission by tracking your renewal rate. Take this number one step further and reach out to members to see how you might be able to address their needs more intentionally. Try this calculation and see how it can work for you!