Membership

Member Recruitment

Our analysis shows that new members require a multi-channel approach to communication before opening a Share Account e.g. see an insert, attend an online event and hear about us through word of mouth. In summary, they require at least three forms of communication before taking action to invest.

According to PwC, the UK household savings rate is set to fall by 70% (or £4,000 less) on average compared to the highest levels during the pandemic, and will fall to an average rate of around 6% of household income:

‘A combination of post-lockdown spending and the rising cost of living will eat into household savings rate, which will decline back to pre-pandemic levels. While this stabilisation is to be expected, there could be a risk the rate will decline further in 2023 if inflation continues, and real wage growth tails off.’

PROMOTIONAL ACTIVITY

National newspapers and magazines have continued to increase their focus on online subscription, registration, and membership and we have seen a decline in readership across a number of the magazine titles in which we have historically placed sustained advertising campaigns.

In line with these evolving changes in news consumption, we have increased our advertising presence online, and have arranged packages that include online exposure via magazine-associated websites and social media channels

This year, we commissioned a cover wrap and online takeover with The Big Issue magazine during both Fairtrade Fortnight and World Fair Trade Day. These events provided an opportunity to shine a light on the message of climate justice, whilst also reinforcing our support of fair trade. The theme of climate resilience was echoed across our insert campaigns, which focused on CECAFE coffee co-operative in Peru, and how Shared Interest finance enables farmers to plan and manage their land in response to fluctuating weather conditions and increased crop disease.

Online Promotion

The opportunity to apply for a Share Account online is an important tool in encouraging new members. We have found that Share Accounts are opened with a smaller investment; usually no more than the minimum amount of £100 and the member then builds on this initial investment over the following months. We are streamlining our online application process further next financial year to improve conversion rates. In addition to this, we have built in additional functionality, allowing us to accept requests for under 16 year-olds as main Share Account holders and investment in EUR/USD.

We have a social media presence over five key channels: Facebook, Twitter, LinkedIn, YouTube and Instagram. Each channel requires different types of content and we are working to develop our Instagram profile in particular. Media monitoring platforms help us evaluate activity, with the aim of improving interaction with our followers.

MEMBER RECRUITMENT

Over the past year, we have been focusing on improving our levels of engagement, building up members’ understanding and knowledge of their investment and impact through our quarterly magazine, e-newsletters, phone calls and improving our internal processes.

Quarterly Return (QR) magazine remains our predominant tool to engage with members and has developed in line with our brand over the past 32 years. However, its main objective has remained the same: to inform and engage individuals on the impact of their investment. In our 2021 Member Survey, 91% of respondents said QR provides them with ‘the best sense of our social impact’, and 87% of members said they read every, or most, issues. This year, we developed the look and feel of QR to reflect its position as a feature-led publication, maintaining its sustainability credentials, including its production with vegetable-based inks and on chemical-free printing presses.

We continue to encourage more members to manage their Share Accounts online to reduce the need for print and postage. We now have 48% of our members using the Member Portal (2021: 44%), which we have further developed this year. This has involved streamlining the statement view facility, improving the live chat functionality, and providing evolving content via a changing carousel of images and refreshed news feed via Twitter.

You can read the full Social Accounts document here.

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