One of the most rapidly growing aspects of our solution in terms of popularity is our membership system, as more businesses are beginning to leverage the power of membership management software.
As this is an area we’re seeing exponential interest in from customers and potential customers we speak to, we thought it would be a good idea to take a look at some of the key functionalities businesses should be looking at when it comes to membership management systems, and how it could benefit specific industries.
Let’s jump into the first reason that most businesses choose to introduce a membership scheme, to bring in more money, more consistently.
This gives you peace of mind when exploring how to expand and improve your business, as you know you have X amount of consistent revenue, on top of the additional revenue you make from non-members. This allows you to invest more in improving your product offering and marketing… likely increasing your membership numbers and bringing in more recurring revenue!
Another benefit of membership software is that you can tailor it specifically to your customer base with tiered memberships, allowing you to introduce memberships that suit the needs and budgets of your customers or clients.
For example, if you’re a family entertainment centre and have a really diverse customer mix in terms of expendable income in your catchment area, you could have a “bronze tier” membership option which gives members a set limit of times they can visit a month, and then a “gold tier” which allows for unlimited visits and possibly a % off food and beverages in your venue, acting as a further incentive.
This way you’re able to capture two types of members, both on differing ends of the spectrum when it comes to income they can spend.
We’re pretty big on data here at BookNow, and making sure our customers are able to see everything they need when it comes to running their business, which is why utilising the data you can get about your members is key to improving your offering to suit them, hitting them on the right marketing channels, and understanding any trends and how they impact your business. For example, what does your data say about how much your members are spending on food and beverages? Do you need to offer members a discount to incite additional spending?
Or for an exclusive private members club geared towards a younger demographic, if a lot of your members are 25-35 year olds, are you marketing to them on the correct channels? Using the data you have correctly will only help boost the revenue your venue sees coming in.
A good piece of membership management software will of course be able to manage the payments of your members for you, ensuring these are taken on the chosen day and any payments that can’t be taken allow for the correct action to be taken, such as notification emails or pausing access on the membership so the member can’t access your venue.
Obviously this takes the headache away from you managing it, with the peace of mind that everything will be managed by your chosen management membership system.
If someone enjoys your business enough to commit to a membership, it’s safe to say they’re pretty fond of you right? It’s highly likely they’re pretty loyal to you when it comes to other entertainment activities they could do in their local area, and not only is this great because they’re spending with you but because you’ll also see this loyalty turn into word of mouth referral, and have these members act as your brand advocates to their friends and peers.
To further entice this, you could consider offering exclusive benefits to members bringing guests with them. For example, a health club could offer a promotion such as 50% off for the guest, and a free treatment for your existing member so they also get something out of it.
Whilst different forms of marketing will offer different amounts of value to businesses spending on your industry, word of mouth value translates pretty equally across all industries.
If someone signs up as a member for your business, they clearly have an interest in, and more importantly have consented to receive your marketing. This is great news for your marketing team, as it gives you a clearly qualified segment to market to.
Now, whilst these customers are already members you can still look to upsell to them with food, beverage & merchandise offers and special events which fall outside of their membership. Chances are, as they’re already fans of your brand you’ll see some good conversion rates.
It goes without saying that you’ll want all of the information your membership management software captures to sync through to your CRM instantaneously, ensuring you have always up to date information and can feed into any reports or analytics you monitor, as mentioned in the data section of this article.
As BookNow Software is built on Salesforce, this means your membership management system is part of the solution, meaning you don’t need to worry about any integrations or synching issues as everything is on the same platform – your membership system and CRM are very much one and the same.