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Memberships are a great way to bring in a steady and recurring stream of revenue, help manage cash flow and reward the loyalty of your customers , business or venue. The best thing is, it’s easy to set up with membership software like Eventcube.
How will membership plans work for my business?
A membership is where an organisation offers services to customers on a recurring payment plan. You can decide on the membership levels, designs, revenue sources, events, finances, conferences and more It’s completely up to you.
Examples of businesses that use membership plans include:
How can running a membership program benefit your business and customers?
The membership business model is a great way to maximise profit and attract predictable revenue. The costs for retaining a customer on a membership plan can decrease dramatically when it comes to marketing and engagement. Other benefits of the membership model include:
Planning a membership program:
Creating a sustainable and robust model from the get-go is key to a successful membership plan. If you do not prepare and execute this properly, you may be unable to calculate your development and see your business blossom.
Starting with a range of memberships can help increase interest as your customers would be offered more choice. For example, customers can gain access to more features or rewards from paying for a higher tier membership within your organisation.
Different models can help strengthen your relationship with customers, so it’s important to design appealing offers. Packages and factors to consider include:
Membership software like Eventcube can help.
Eventcube’s membership software allows you to set up and manage your packages and then accept recurring payments on a monthly or annual basis, either via card payment or Direct Debit.
Customers are then given access to a membership portal where they can log in, manage their subscription, edit their details and gain access to exclusive content.
Look at what we built for Middlesex County Cricket Club below: