Think of the membership cards you have in your wallet at this very moment.
Perhaps you have an airline membership or you are Costco Gold Star member. Maybe you still even carry Blockbuster’s blue membership card around in your wallet, a symbol of the nostalgia of time’s past.
You are probably pretty loyal to these companies.
Indeed, studies have shown evidence that memberships build and maintain customer retention.
When it comes to taking online appointments via your scheduler software, it’s a good idea to offer a variety of payment plans and programs. From packages to memberships, there are some distinct advantages of offering a variety of payment plans, as you will see below.
For appointment-based businesses, these different payment structures mean a fuller online booking calendar (and therefore increased cash flow), more customer loyalty and less no-shows as just a few examples.
Each payment plan also has its own set of additional advantages as well, which you will also see below.
All of this leads us to Yocale’s new and exciting feature that’s just around the corner: memberships.
This new feature will now allow Yocale users to take advantage of the membership program model and take recurring payments for recurring services, whether it’s offering your clients a gym membership, a spa membership, other wellness-based memberships and so on and so forth.
The membership program model means that businesses have a steady stream of clients and revenue each and every month.
How Memberships Work
The membership program model works something like this: members will commit to a given membership period (this could be 6 months or a year), offered at a discounted rate.
In terms of offering this program to your clients, the process is easy. All you need to do is incorporate it into your online booking calendar and then your clients can easily sign up for your membership, just as they would sign up for any other type of online appointment.
The Benefits of Memberships
1) Increased Revenue
Memberships mean increased revenue – your clients will be committing to your services for up to a year at a time. The key here is to ideally bill your clients consistently at the first of every month instead of accepting cash and cheques.
2) Reliable Income, Better Cash Flow Management
Memberships allow businesses to bring in a steady revenue each and every month. You no longer have to worry about unpredictable income. In short, your income has a lot less variance every month with memberships, giving you more control over your cash flow.
This is important for any business, but it is particularly crucial for newer businesses that experience even less predictable income.
3) Increased Customer Loyalty
Memberships are just as beneficial for your clients as it is for your business. Memberships require that your clients commit to a particular service over the long-term, increasing the likelihood that they will actually see results from your service.
This increases customer satisfaction and referrals as a result.
Memberships also give you the ability to develop deeper relationships with your clients and increase customer loyalty as a result. The customer insights gained through these relationships allow you to deliver more personalized customer service.
Memberships are a win-win for everyone.
The same members-only exclusive deals and discounts mentioned above can also enhance customer loyalty as well.
There is also the fact that memberships breed a sense of belonging among its members, increasing customer loyalty yet again.
4) Additional Revenue Opportunities
Memberships open up additional revenue opportunities for your business as well. A few examples here include ‘Refer a Friend’ programs and/or incentives, which offer great marketing potential and the ability to attract more clients your business.
Multi-level memberships (i.e. basic memberships, premium memberships and so on) also give you the ability to encourage your clients to spend more by purchasing more premium memberships.
You can also offer members-only exclusive deals and discounts which can also boost profits.
The Bottom Line
Memberships can be a great way for businesses to have a reliable cash flow, increase customer loyalty and open up additional streams of revenue through members-only incentives and so on.
It just so happens that it’s easier to offer memberships through your scheduler software.
Yocale is the top scheduler software on the market today. Yocale also has been featured in Microsoft, Forbes and beyond. We also offer a free suite of business management and marketing tools. For more information, click here.
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