What is a membership program, really?It's the easiest way to add a recurring billing component (hello, predictable cash flow!) to your revenue model without totally overhauling your business operations.
Beyond recurring billing, memberships open the door to a TON of potential value to you as a merchant. If you've ever wanted to get in on the subscription action but weren't sure how...this is it.
What are the benefits of a membership program?
Engaged members stick with your brand for longer and, assuming your membership model is designed well, will continue to come back again and again for more of what you have to offer.
Membership programs offer more touchpoints with the consumer, which give you even more opportunities to cross-sell and upsell.
Predictable Cash Flow
Recurring billing gives you a relatively predictable cash flow, meaning you can plan more efficiently (and even fund future projects).
Because members are more likely to be more engaged than the average consumer, they'll be more likely to participate in surveys, polling, and focus groups. Find out what they want, straight from the horse's mouth!
Create a place for members to hang out, bond, and share ideas. (Read: an opportunity for engagement.) Listen to what they talk about for ideas on becoming an even better merchant. Spot and solve problems before they even occur.
Engaged members create a unique opportunity for testing out new products and ideas, and even launches! (If something goes wrong, they're much more likely to be forgiving.)
What do you need to consider?
How do I decide what to do?
The answer isn't as complicated as you might think.
Know Thy Customer
How would a membership program fit most seamlessly into my customer’s life? How can a membership enhance the existing value my customer expects from my products? What membership benefits and components are going to be most valuable to them? Think about what your most ardent fan would want.
Know Thy Self
What are your goals for this membership program -- engagement? Recurring revenue? Data collection?
How much of an investment do you want to make now, versus iterating the program as you go? Do you have the resources (personnel, time) to manage a Facebook Group or create content? Do you have enough SKUs in your store to offer members-only products?
That said, if store credit is your only membership perk, some consumers may consider the program a bit lackluster. Spend a bit more time to build in additional perks that create a stronger value proposition.
Ready to Get Started?
Hey there, you made it.
Zlatko here (Z for short).
You’re probably wondering why we don’t have a contact form. I decided to change things up a bit. We’ve had a lot of inquiries about projects from brands with a beer budget but a champagne diet. The simple answer is we don’t take on small projects. We also don’t work with every single client that comes our way because our goal is to focus on a few clients at a time. Quality over quantity.
If your budget is below $10,000, we will not be a great fit for you. On the flip side, if you’re serious about working with us and you meet our budget requirements, keep reading…
If you had a chance to look through our site, you understand what we do. In short: we help Shopify brands grow their business. We have a strong focus on branding, design, and development.
If you’re serious about becoming one of our clients, feel free to set up a call directly with me here.
I look forward to getting to know more about you and your business.