Membership is the Best Reward
Everyone wants to be part of an exclusive club. Whether it’s the popular kids at school or the most elite campus society, a sense of belonging is a great motivation to try harder.
Thank your customers for their business by introducing them to the most exclusive club around: yours! A membership or loyalty club is a fantastic way to increase your business by offering a discount or special benefit available only to members.
Tips for building membership:
1. Punch Cards
It’s an irresistible formula: the more you buy, the bigger your reward. Consider a “buy 10, get one free” arrangement that’s exclusive only to club members.
Working toward a concrete goal — “Only three punches to go!” — is a great way to keep customers coming back for more!
2. Small Fee for Big Discounts
A premium membership club is like a gold card for loyal customers. They pay a small monthly fee to enjoy bigger discounts and exclusive services. Amazon has had tremendous success with Amazon Prime, offering two-day shipping and unlimited streaming of TV shows and movies for one annual fee.
What sorts of special offers can you present to members who are willing to pay a little more? A discount of 10% for customers who pay all their monthly fees might be just the ticket to make loyal customers eager for more business.
3. Tier System
A tier system rewards customers for increased service: the more they buy, the more benefits or discounts they receive. Set specific goals to help them achieve higher levels. One example: bronze membership (5% off merchandise) for spending $100, silver membership (10% off) for $500, gold membership (20% off) for $1,000.
For customers who graduate to a higher level, offer a members-only newsletter containing special promotions, discounts, and event invitations just for them! Nothing makes a customer feel more appreciated than exclusivity.
4. Team Up
Connect with other complementary businesses in your area to provide reciprocal benefits for your members. If you’re a physical therapy clinic, partnering with a local gym to offer discounted fees for members of your club i s a great way to promote better fitness and health. And both companies reap the benefits of expanded clientele.
By developing an incentive, you’ll make your customers want to do even more business with you. This system rewards loyalty, and that, in turn, promotes even greater loyalty.
To build a better rewards system for your company, contact Solutions for Growth. We have the ideas and experience to make your business the most exclusive of all, and turn your customers into loyal fans!