It is traditionally thought that memberships are only offered by fitness-based businesses like gyms, but that is simply not the case.
In fact, many other types of businesses can also offer memberships as well.
If you offer any type of recurring service, whether you’re a hair salon, a medical spa, a dog groomer or any other type of appointment-based business, you are a perfect candidate for also offering memberships to your clients.
Now, why would you want to offer memberships?
The short answer to this, as you will see below, is that memberships are a great way to bring in an additional income source – but one that is specifically recurring.
And, great news: if you are a Yocale user, you now have the ability to offer memberships to your clients.
Yocale now has a new membership feature (which you can learn to set up here), which allows businesses to take recurring payments for recurring services. But, there’s more.
You can also customize your memberships as well, which is what we will show you in this blog post.
The Benefits Of Selling Memberships
Again, if your business doesn’t traditionally offer memberships, there are a lot of benefits of doing so:
Increase Your Monthly Recurring Revenue (MRR)
Selling memberships gives businesses the ability to bring in a monthly recurring revenue (MRR).
Since your clients have committed to your services for an extended period of time (perhaps even up to a year), this gives you a source of income that you can reliably count on, month after month.
Increase Customer Retention
Studies show that memberships increase customer retention, which is great for your bottom line. There could be many different reasons for this.
For spas and other health-based businesses, one possibility is that since customers are receiving your services on a regular basis, they are much more likely to experience the benefits of those services, therein building customer loyalty in the process.
Remember – loyal customers are much more valuable to your business than new ones. In fact, loyal customers end up spending 67% more than new ones. They also generate more referrals for your business as well.
Know Your Cash Flow
Again, memberships provide you with a reliable source of income every month. This means that you have a better estimate of how much income you are bringing in each and every month. So, in terms of cash flow management, memberships can be very helpful.
Increase Your Return on Investment
Above all, memberships allow you to increase your return on investment. Instead of selling single appointments for your services, you can sell a package of services and bring in reliable cash flow for a certain period of time.
This allows you to build your relationships with your clients and for your clients to see the benefits of receiving regular treatment. In turn, you develop loyal customers who will not only spend more but also bring in more clients for your business.
Customizing Your Memberships
As we mentioned above, one aspect of Yocale’s new membership feature is the ability to customize your memberships and sell them how you please. This gives businesses like yours the flexibility that they are looking for.
But, what does that mean specifically? Let’s take a look below:
Here is a look at all of the ways you can customize your memberships:
- Offer any membership discounts (these can be either fixed amounts or a percentage)
- Customize how often you renew your memberships (this can be customized based on days, months or years)
- Alter the number of billing cycles (forever until manually deleted or a set number of months)
- Customize the initial set up fee and price per month after that
- Change the price for a special specific period (for example, perhaps you offer a special holiday discount or a discount to your email subscribers)
- Customize your memberships based on specific services (i.e. memberships can be limited to specific services or can be applied to all services that your business offers)
- Memberships can be used for certain products
- Customize based on locations
The Bottom Line
Memberships give businesses an additional income source, even for businesses that don’t traditionally offer memberships.
As you saw above, any appointment-based business that offers services can sell (and benefit from) selling memberships to their clients.
And now Yocale users have the ability to sell memberships to their clients through our scheduling software.
Selling memberships allows businesses to increase their monthly recurring revenue (mrr) and to increase customer retention. It allows businesses to better understand their cash flow and to, overall, increase their return on investment.
If you’re a Yocale user, your memberships can be customized in any number of ways so that you have the flexibility to meet your specific business goals.
Interested in reading more about memberships? You might also be interested in the following blog posts:
Yocale is a leading scheduling software on the market today. The best part? It’s free and super easy to set up. We also offer a free suite of business management and marketing tools. You can book a free demo here. To sign up or for more information, click here.
Want to see how Yocale helps real-life businesses and entrepreneurs? Read about this nutritionist’s experience here.
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