Membership numbers - Nov 2013

richard@imutual
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Membership numbers - Nov 2013

Post by richard@imutual » Mon Nov 18, 2013 10:50 am

About a year ago, I gave this update on the number of imutual members we have. Here are updated figures (with last year's in brackets for comparison):

Registered and verified email address 8177 (3210)
Clicked out on a merchant link 6495 (2359)
Earned some cashback 4431 (1433)
Completed their shareholder registration 4866 (1624)

As you can see, we've more than doubled our active membership over the past 12 months which is really pleasing. However, a lot of members were attracted by one-off offers. As we don't/can't spend large amounts on advertising, in the future it's essential that our existing members help with recruitment, which is why recently we've been focussed on tell-a-friend initiatives such as the invitations screen and the 10% revenue share offer

The table below shows tell-a-friend activity over recent months, and it really is a lot lower than we'd like it to be :( For instance, out of 101 new members who registered and verified their email address during October, only 11 resulted from Tell-a-friend links. Given that the Christmas shopping period is the ideal time to get someone interested in a cashback site, the low level of activity is something of a puzzle. :?

While there will always be things that imutual HQ can do to make the site more appealing (design improvements, new features, more offers etc), it's a fact that a cashback website's members are the most effective advocates. An offer of "Free cashback and shares", however well we present it, can be confusing and potentially too-good-to-be-true to a prospective member. Nothing can trump a genuine recommendation from a friend or trusted contact.

I did start this suggestions topic a little while back and, as always, I'm keen to hear your ideas as to how we can work together to help increase the number of imutual members :thumbup:
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Re: Membership numbers - Nov 2013

Post by xrppzi » Mon Nov 18, 2013 11:15 am

Surely the main source of recommendations must be from newly joined members. People like me who have been members for some time have already informed their friends (with varying success) ages ago! Offering incentives, unfortunately, doesn't give me more friends and acquaintances to recommend!

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Re: Membership numbers - Nov 2013

Post by richard@imutual » Mon Nov 18, 2013 12:48 pm

I accept that many long-standing members may have already exhausted their list of immediate friends and contacts (although the stats suggest either that's not the case or that most of our members have no mates :|). But the majority of referrals have come from existing members posting about imutual (or one of our offers) on other forums.
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Re: Membership numbers - Nov 2013

Post by Squire » Mon Nov 18, 2013 2:05 pm

I have asked a question and flagged it for your consideration elsewhere, yesterday, and if adopted that might help in recruiting. Will not mention it here as it needs your feedback first.

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Re: Membership numbers - Nov 2013

Post by Alec3720 » Mon Nov 18, 2013 6:34 pm

Could Imutual produce simple A4 posters that members could print and display on work place notice boards, then before we print we need to put our referral link in them. This way we get the referral and Imutual get their message across and have verified what is published. This will also reach people that we may not necessary know.

Posters can also be placed on Village halls, sport clubs, anywhere that allows posters to be displayed.

Thoughts?
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Re: Membership numbers - Nov 2013

Post by kevinchess1 » Mon Nov 18, 2013 6:56 pm

I'm a bit confused about these figures :?:
Is 4866 new members who joined in the last year?
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Re: Membership numbers - Nov 2013

Post by richard@imutual » Mon Nov 18, 2013 7:02 pm

No, the figures in bold are the total since we started. The figure you quote is for those who have completed their shareholder registration (note that many members don't bother to do this until they have to request a payment). It stands at 4866, up from 1624 last year - an increase of 3242
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Re: Membership numbers - Nov 2013

Post by NetProfits » Tue Nov 19, 2013 3:40 am

Members should get an ongoing monthly income for each person they invite for life, once the new member acquire cashback

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Re: Membership numbers - Nov 2013

Post by kevinchess1 » Tue Nov 19, 2013 8:25 am

What is the % of people who have sign up
but are not 'Active' members?
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Re: Membership numbers - Nov 2013

Post by richard@imutual » Tue Nov 19, 2013 9:25 am

There have been over 55,000 "registrations" in total, but most of these appear to be automated ones by spambots. Looks like just over 10,000 "genuine" registrations in total
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