It is often said that it’s easier to maintain existing customers than it is to attract new ones, and this is particularly true if you have the right membership offers in place and you reward loyalty.
Nowadays, customers shop around for the best price, and attracting new customers is more expensive than keeping existing ones. Regular customers also spend more money. However, customers won’t reward you with their loyalty unless you are prepared to give them something back in return. One way of accomplishing this is by having efficient membership management systems in place to manage all customer admin activities easily and conveniently.
Let’s take a look at the four key benefits that members really value.
Loyalty Points
This is probably the most common approach, but it’s not necessarily applicable to every business today. This system works well with frequent, low-value purchases such as coffee. The basic premise is that these points get converted when the member has accumulated enough points and can be redeemed for a free gift related to their purchase history.
Discounts
There is nothing a member likes better than to get a discount on a product or entrance fee. This really makes customers feel valued, so why not offer members two months for free if they pay their subscription up front?
To manage this type of system effectively, you will need to have an efficient way of storing data and being able to set up subscriptions. An effective solution to smart memberships is offered by companies such as http://www.ofec.co.uk/Membership-Management-Systems.aspx, who build responsive membership systems for organisations that have more than 200 fee-paying members.
Charge an up-front fee
This can be marketed as a VIP exclusive whereby members get certain benefits if they pay a fee. This could be in the form of free, same-day delivery, for example. Member tiers can also be set up, although the Daily Mail points out that sometimes it is best to keep membership to just one basic amount so that members know they are all getting the same value.
Partnerships with other organisations
Set up a programme with other businesses whereby your customers are offered discounts elsewhere when they purchase from you. Not only do you keep existing members, but you’ll also gain new ones as the loyalty works both ways. Partnerships can benefit everyone.