The average consumer belongs to 13 loyalty programs, but is only active in 6 of them and as loyalty programs become more prevalent engagement rates are dropping. While traditional loyalty programs are a great retention solution for many retailers, some brands need an extra boost to combat latent loyalty membership and earn a quicker return on their investment.
Paid Membership Loyalty is a program that requires customers to pay a fee for enrollment. It delivers rapid ROI through the membership fees and helps you focus on your most engaged customers. Members of paid programs are highly engaged from the beginning and continue to invest in the brand to ensure their membership fee is worth it. As a result, paid loyalty helps you combat high latent membership rates and ensures your loyalty efforts are reaching customers who care.
When customers enroll in your loyalty program they’ll be asked to share their email address, create an account, and pay the loyalty membership fee.
For standard programs, the membership fee is on a subscription basis which reduces friction for your customers and churn for your program.
Paid membership programs are designed for your most high value customers. With that in mind, our Customer Success team works with you to design a marketing strategy optimized to keep customers aware and excited without bombarding them with too many messages.
Give your customers rewards they want. Paid membership means higher-value rewards and we’ll help you deliver on that. Give your customers preferred shipping options, exclusive services, limited edition products, and VIP discounts.
Subscription payment or recurring payments for your loyalty membership reduces churn in your program. If it’s not built into your platform already, don’t worry we offer it as a native feature of our Paid Membership Loyalty programs.
Offer rewards your customers will get excited about. When customers pay for loyalty, they expect high value rewards in return. We deliver the reward flexibility which ensures you can feature anything from preferred shipping options to exclusive services, experiential rewards or high-value VIP products or discounts. We’ll work with you to design a reward structure that delivers results.
With Paid Membership Loyalty on the Annex Cloud platform, you can create a single paid program or add a paid membership level to your already existing loyalty program. Either way, managing everything from marketing the program to rewards and redemption is made easy with a single dashboard.
Advanced segmentation for Paid Membership Loyalty allows you to segment your customers based on their tier and the status of their membership. Easily notify customers when their free trial is expiring and when their membership is renewing or expiring.
There are a lot of factors to consider, from the type and value of the rewards to the fee price and the frequency of marketing communication. Our Customer Success Managers are experts in executing Paid Members Loyalty programs and will work with you to define a strategy that works for you.
Advanced reporting makes it easy to track important KIPs including lifetime value, repeat purchase rate, and average order value which help you evaluate campaign impact and uncover insights to enhance your program. You can review loyalty data such as points earned, rewards redeemed, and activities in aggregate and at the individual customer level. You can also schedule reports to be delivered to you and your team.
Loyalty programs are not a one size fits all solution and paid membership programs are not for every brand. Our team of loyalty marketing experts will work with you to determine if paid membership, free, or a combination of the two are the right strategy for you. If you are utilizing a paid program or a combination of paid and free, they will work with you to define your customer tiers and set a membership cost that won't scare off customers but will deliver the most revenue possible.