Membership Changeover - Monthly Members

[johnsond]

Hello,

We are no longer offering some of our plans and have rolled out new plans. I am trying to figure out a way to make a seamless transition for our customers instead of cancelling their membership, cutting them a check and having them pay for the 1st monthly invoice on the new membership. Does anyone know of a way to transfer the balance of their old membership to a newly sold membership? The price has increased significantly because these old plans were from years ago, so we're trying to make the transition as seamless as possible and just let them know that we are transferring their current balance and they are now enrolled in our new plan and their first payment wont be due until their current balance is used. Any tips, tricks or suggestions would be appreciated!

[DiamondK1]

We did a price increase in late 2021 and rolled out the updated pricing to existing members throughout 2022; we also started using deferred revenue for memberships at the same time. We emailed all existing members notifying them of the price increase coming the following year to our memberships (benefit changes/pricing changes) and let them know that it would roll out to them at their annual renewal (ours auto-renew each year as well until the client requests to cancel). Then each month we cancelled existing memberships set to renew and started new memberships for all existing members throughout 2022. When we processed the renewal we also emailed out an invoice showing their first payment with the new pricing. It was a lot of work, but very much worth having our deferred revenue tracking now (def. rev. wasn't an option when we initially rolled out our memberships in ST). Depending on how many memberships you have it will take some dedicated time each month to roll out the changes, but it's what is currently necessary if your needing to overhaul your existing memberships.

You'll get some members that don't want to renew at the new rate and you can schedule their membership to cancel the day before their annual renewal date.

[Alyssa]

My suggestion would be to reach out to all the monthly members, no matter the automatic renewal date, explain the coverage and pricing differences that will happen at their renewal, and collect any signed documentation with a start date of the new membership. 

The seamless part would be to set the new membership start date on the date of renewal, and set the cancel date on the current membership to the day before renewal. This way when their renewal date comes around, ST will automatically cancel the old membership and begin the new one. 

[Cawigirl]

have you done this and if you have i assumed it worked.  i am afraid to change anything on my monthly memberships and i know in the future we will need to increase the prices.  ST doesn't retro any new price changes.  i am hoping they will complete an update where all we do is change the pricing on the task and it charges all members the same moving forward and then we wouldn't have to change hundreds (and for some, thousands) of current memberships.

[gotobrandi]

That is a tricky one, especially if there is a significant increase. I would wait to do the monthly plan when their membership renews. Then it is the new plan with the increase.

[johnsond]

How do you structure your monthly members? Do you do it on a yearly basis? Ours go until cancelled, but just want to get a feel for other ideas. 

[gotobrandi]

We are going to be starting in the next 2 months. That is why I am monitoring your thread. I am hoping that we will allow existing memberships to finish their contract fully then at the time of renewal do the month to month membership. 

[Roman]

Hello @johnsond,

Currently there are no options to transfer membership balance, however what you can do it edit the membership renewal date and set the next renewal date based on the balance from previous membership.

[johnsond]

Im not quite sure what you mean. Our monthly memberships don't have a renewal date, they go until cancelled by the member.