Finding Success With a Rewards Program
A rewards program is one of the key ways to boost your business and set yourself apart from your competitors. It shows your members that you value their time and effort, and consequently, increases client retention. Whether you have just opened your fitness center or have been in the industry for years, a rewards program will help boost client engagement, broadcast your brand, and much more.
One of the most effective is the tiered rewards program. A tiered rewards program separates clients into different levels, such as bronze, silver and gold, depending on the amount of points they have accumulated. As clients climb from one level to the next, they earn more coveted rewards.
For instance, those who have reached silver status earn 15% off their membership, whereas those who are still in the bronze level earn 10%. This method is a great incentive for clients to interact more with your facility, as it encourages them to do all they can to reach a higher status and win better prizes.
After you have decided the type of rewards program you would like to use, decide what your main objective is. Would you like a rewards program to help increase sales, participation or your club’s popularity? Only when you have outlined your goals can you begin to determine exactly how clients will earn points.
When you have made this decision, begin to prioritize the types of actions that are awarded the most points.
For example, if you want to increase brand recognition, give the maximum amount of points to actions like sharing a review online or referring a friend to the facility. If you want to boost sales, allow your members to accumulate several points for buying merchandise and booking classes online. If participation is your goal, then award clients with a number of points when they book more than one class at the same time.
Next, think about the types of prizes your business is willing to offer clients. This is mainly determined by your facility’s profit margins, in addition to the competitors in your industry. To stand out, try to offer your clients something extra. For instance, fitness clubs rarely give rewards like 50% off membership fees, a personal training session, or a choice between two prizes. Think about your clients and their spending behavior, and design your rewards to suit them.
The benefits of a loyalty program are endless. Not only will it help your business grow in incredible ways, but it will allow you to understand your clients better to cater to their needs in the future. Take your studio to the next level today with a rewards program.
Len Fridman is the co-founder and CEO of WellnessLiving. For more information, visit wellnessliving.com or call 1.888.668.7728.