Community Engagement & Impact

The Loyalty Equation: Developing Relationships That Deliver

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The Loyalty Equation involves building loyal relationships online and on-site with visitors, members, donors, and stakeholders. By systematically managing and measuring loyalty, museums can gain financial strength and stability. In this session, learn how to adapt and apply loyalty practices from the corporate world to the work of museums. Discover best practices, innovative approaches, and steps that any institution can take to turn transactional business into loyal relationships.

Learning Objectives:

• Understand components of The Loyalty Equation and how museums can manage these to improve loyalty among constituents (visitors, members, donors) and employees to strengthen organization-wide financial impact through repeat visits, member retention and upgrades, and gifts of support, plus cost savings from lower staff turnover and efficiencies from experienced staff.
• Develop a plan for mapping the constituent journey for visitors, members, and donors.
• Understand the role of research, performance assessment, and a closed-loop process for resolving visitor, member, and donor concerns or issues. The Net Promoter Score (R), used as Frederick Reichheld intends, provides a path towards building and managing loyalty for long-term financial strength and sustainability.

Presenter(s)

• 

  Ashley Alexander

  Director of Membership and Philanthropic Programs
  Denver Museum of Nature & Science
• 

  Ryan Auster

  Senior Research Associate
  Museum of Science, Boston
• 

  Kristin Prestegaard

  Chief Engagement Officer
  Minneapolis Institute of Art
• 

  Suzette Sherman

  Director of Leadership Giving
  Museum New Mexico Foundation