Summer Marketing: How To Grow Memberships And Boost Revenue For Your Business
For many people, summer is a season for relaxing and taking time off work. However, for business owners, it is not all rosy. During summer you may experience a dip in sales. One way to survive summer is by growing memberships to help you generate more revenue.
Many businesses are now adopting the membership and subscription-based business model as it guarantees customer retention. In fact, the global subscription economy is estimated to hit 1.5 trillion dollars by 2025.¹ Read on for membership tips to help you earn more this summer.
Boost Your Summer Revenue With The Following Membership Tips
Memberships encourage customer retention. An increase in customer retention by as low as 5% can boost revenue by up to 95%. Below are membership tips to help you retain more clients and increase your income.²
Create a community around your group
Creating a community can help improve user engagement levels and offer more value to your subscribers. If you already have a membership offering individualized programs, you can charge more by creating mastermind groups.
With your group expanded, you can offer coaching services Q and A sessions, and personalized assessments. After creating the group, add forums where your subscribers ask and answer questions. Better yet, members can revisit the forums at any time to follow the latest discussions.
Create an affiliate marketing program
An affiliate program is an effective way of marketing that can help convince more clients to join your membership program. People are more likely to try a product if they get recommendations from their peers.
To get started create an affiliate program and allow your existing customers to sign up and get their affiliate link. They will then use this link to promote your products and services. If a client signs up via their link, give them a commission. This way you sell more and your clients earn rewards for referring you.
Create upsells and cross-sells
Cross-sells and upsells encourage your customers to buy more. You can include higher-tier products or related products at the checkout to encourage customers to buy them. For your membership program, add an upsell once a member signs up for the program.
Add a time limit to your upsell offers to add a sense of urgency and get customers to take action before the offer ends. Moreover, ensure your upsell offers real value otherwise people will not buy.
Offer live events
Running live events is another effective way to use your memberships to boost your summer income. You could sell tickets to the public and offer special discounts to your members. During the event, allow questions and discussions to help attendees get more value.
You can also make the live events more valuable by teaching members about your services or products. For instance, if you run cryotherapy, you could educate people about cryotherapy treatments and their benefits.
Earn More With The Above Membership Tips
Earning some extra money from memberships is a great way to survive challenging economic conditions. The above tips will help you boost your revenue through running membership programs.
Founded on facts: for peer-reviewed articles, scholarly journals, and articles cited above please see the below sources.
Global subscription economy stats
https://amp.namiml.com/amp/7-numbers-global-subscription-economyMembership stats you need to know
https://www.glofox.com/blog/10-gym-membership-statistics-you-need-to-know/
NOTICE: Information contained within this website and in all materials, communications, or presentations by Cryo Innovations and Cryo Recovery Lounge is for informational purposes only. Whole Body Cryotherapy, infrared sauna, hyperbaric chamber, and any and all recovery methods described and/or offered by Cryo Recovery Lounge or Cryo Innovations are neither designed nor advised for treatment or cure of any illness or disease. No cryotherapy chambers (including the XR) have been tested or approved by the FDA. Please consult with your medical professional before beginning any cryotherapy or recovery method. All material contained within this site is copyrighted and may not be reproduced in any form without prior written permission. All rights reserved. For permissions contact Cryo Innovations.