CONTENTS Annual Retention Rate Annual Dropped Members Local Area Chamber Performance Chamber Revenue Average Member Sales Accelerate Annualized Investment / Investors Leadership Circle Investment / Member Growth New Member Sales Growth
The information contained within this report represents historical data from the Charleston Metro Chamber of Commerce over the course of the last 10 years.
Annual Retention Rate 85% 80% 75% 70% ACCE Benchmark (2016) 84%
65% 60%
2008
2009
2010
2011
2012
2013
2014
2015
Annual Retention Rate: Over the past decade, the Chamber has increased its annual member retention rate by 10% from 71% to 81%.
2016
2017
10% Growth SINCE 2008
Annual Dropped Members 700 600 500 400 300 200
ACCE Benchmark (2016) 320
100 0
2008
2009
2010
2011
2012
2013
2014
2015
Annual Dropped Members: The number of annual dropped members has declined by over 300 members in the last 10 years. This trend reflects the implementation of a new business model, launch of the Accelerate Greater Charleston campaign along with the strength, caliber and structure of our membership development team.
2016
2017
300+ FEWER
DROPPED MEMBERS
Local Area Chamber Performance Engagement Opportunities
Total Attendees
Small Business Participation
41%
29%
47%
296 | 120
10,718 | 3,070
1,184 | 560
Local Area Chambers
Charleston Metro Chamber Total
Local Area Chamber Performance: The first year of Local Area Chambers was healthy and shows significant member engagement. This is reflected by both the total number of attendees to Local Area Chamber events as well as the amount of individual company participation.
10,718 ATTENDEES IN 2017
Chamber Revenue $6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0
2013
2014 Core Chamber Programs Accelerate
2015
2016 Membership Revenue Total Revenue
Chamber Revenue: Chamber revenue is on track for steady increase in the years ahead. The budget has surpassed $5 Million. This milestone can be attributed to the strides being made in both strenghtening core Chamber programs and the support of Accelerate 2 investors.
2017
$5M+
BUDGET REVENUE OVER TIME
Average Member Sales $1,000.00 $800.00 $600.00 $400.00 $200.00 $0
2008
2009
2010
2011
2012
2013
2014
2015
2016
(In 2016, a Platinum Member was sold. Average sales without this account are $720.00)
Average Member Sales: Over the past 10 years, the average member sales has increased from $480 to $800 representing a 67% increase in the base value of a Chamber membership being sold.
2017
67% INCREASE SINCE 2008
Accelerate Annualized Investment
Accelerate Annualized Investors
$1,200,000
120
$1,000,000
100
$800,000
80
$600,000
60
$400,000
40
$200,000
20
$0
A1
A2
0
A1
Accelerate Greater Charleston Annualized Investment / Investors: Chamber business members came back strong in their support of the second round of Accelerate Greater Charleston by providing $200,000 more a year toward our twin pillars of talent and advocacy/regional advancement. The second campaign also featured an additional 18 investors and still growing.
A2
$200K ADDITIONAL A2 INVESTment per Year
Leadership Circle Investment Growth 300
$1,800,000 $1,600,000
30%
$1,400,000 $1,200,000
37%
250 200
$1,000,000
150
$800,000 $600,000
100
$400,000
50
$200,000 $0
Leadership Circle Member Growth
2010
2017
Bronze
Gold
Silver
Platinum
0
2010
2017
Bronze
Gold
Silver
Leadership Circle Investment / Member Growth: The Chamber’s 2017 Leadership Circle Investors, who commit $3,000 plus in annual dues, comprise 79% of the organization’s dues based revenues. These members are being retained at a 91% retention rate and we have an annual net growth goal of 25 additional Leadership Circle Investors annually.
Platinum
37% INCREASE
LEADERSHIP CIRCLE INVESTORS
New Member Sales Growth $400,000 $350,000 $300,000 $250,000 $200,000 $150,000 $100,000 $50,000 $0
New Membership Sales
2016
2017
2018 (f)
Membership Upgrades
Board Campaign
New Member Sales Growth: Over the past two years (FY 16 and 17) combined new member sales has increased by $75,000 or 27%. We are projecting a 14% growth in new members in 2018, equating to an additional $50,000.
27% INCREASE NEW MEMBERSHIP SALES
4500 Leeds Avenue, Suite 100 N. Charleston, SC 29405 843.577.2510 mail@charlestonchamber.org
www.charlestonchamber.org