The quick answer is a bunch! However, that is not the kind of answer that quality professionals generally desire. Today, armed with three years of data, I believe a have a substantive answer to this question.
Over three consecutive years (2005-2007), ASQ invited me to attend the World Conference on Quality and Improvement to conduct two sessions per conference of my Member Value ProcessTM. A random sampling of ASQ member, conference registrants, was invited to the sessions. This is a process, one that includes art and science, in which I draw from a representative sample of ASQ members, their belief as to how much dollar value they receive from their ASQ membership on an annual basis. This gives a return on investment (ROI) number for the attendees.
Most ASQ members spend under $200 per year on their membership and they receive about $10,500 in return for their investment. That’s over $50 in return for every dollar spent in ASQ membership. In anybody’s book, that’s enormous
ASQ membership, spend a dollar and get fifty back—it’s a No-Brainer.
Now that I’ve made such an outrageous statement, I had better prove myself. Listed below are the actual yearly sustainable, real dollar value numbers from the six sessions:
- 2005 Session 1 — $8,100
- 2005 Session 2 — $5,150
- 2006 Session 1 — $14,919
- 2006 Session 2 — $13,550
- 2007 Session 1 — $9,750
- 2007 Session 2 — $11,550
A grand total of $63,019, divided by the six sessions, equals $10,503 average yearly sustainable real dollar value that ASQ members receive. Divide the $10,503 yearly member value by the $200 yearly membership investment and you get 53 times the ROI. Rounded off, you get $50 dollars in return for every $1 you invest in your ASQ membership.
In each session, the specific value line items differed a bit, but there were some commonality among all six sessions. The top ASQ member value items were:
- Recognized Certification @ an average value of $2,583
- Networking @ an average value of $1,183
- Training @ an average value of $1,058
- Sections @ an average value of $1,042
- Opportunities for Involvement & Leadership @ an average value of $860
- Credibility with Customers @ an average value of $600
- Divisions/Forums @ an average value of $460
|ASQ Value Item||2005-1||2005-2||2006-1||2006-2||2007-1||2007-2||Average/#|
|Opportunities for Involvement & Leadership||1000||100||500||Included in Section||200||2500||$860/5|
|Credibility with Customers||Not rated||250||100||0||750||250||$600/5|
|Total ASQ Member Value Determined||8100||5150||14919||13550||9750||11550||$10,503/6|
You might have noticed in the above information that no value was assigned to the World Conference; there is a reason for that. During the sessions, I specifically asked participants not to include the value of the annual conference. My reason for this is simple. ASQ has a membership of over 90,000 yet only one to two thousand attends the conference each year. While it is undeniable that the conference delivers huge value to all that attend, I wanted to determine the yearly sustainable, real dollar value that ASQ delivers to the lion’s share of its membership. Needless to say, your personal value could easily be much, much higher.
The next time a colleague, or your employer, asks about the value you receive from your ASQ membership, tell them that for every dollar invested, you get 50 back in value—now that’s value!
The key to safeguarding your organization’s future…is to research, embrace, and maximize…your member ROI.
- Ed Rigsbee’s Raw & Unedited with David Tharp: Live to Virtual…Content, Expo & Networking - November 5, 2020
- Ed Rigsbee’s Raw & Unedited with Dr. Chris Gray: Live to Virtual Success - October 14, 2020
- Ed Rigsbee’s Raw & Unedited with Laura Farr: Create Warm Fuzzies & Family at Your Virtual Conference - July 31, 2020