We’ve written previously about the underlying science behind why discounts are such a powerful member/customer engagement tool. Aside from the rush of endorphins that comes from getting a good deal, evolutionary science tells us that our brains are hard-wired to conserve our resources and avoid inefficiencies. That’s why saving money is a universal desire.
So it’s no coincidence that virtually every retailer, airline, supermarket and restaurant offers a discount or rewards program. Most membership organizations understand the potential impact of offering a discount program as part of their membership perks because of how such programs drive member retention (among other favorable behaviors.)
With the increasing popularity of using discounts as rewards and incentives, it’s not surprising that more and more discount programs have sprung up, trying to sell their white-label discount network (also called a private-label discount network) to member associations, trade organizations and other membership-based groups.
But not all discount networks work the same. And not all can drive member retention and boost acquisition rates.
If your organization is considering a white-label discount program to help you connect, attract and engage your members, good for you. It’s a wise decision, as proven by the many organizations that have discovered growth through offering discount programs.
Once you’ve decided to offer a discount program, what criteria should you use to find the best one suited for your organization? As the competition for your attention intensifies, so too will the intensity of the competing voices who are trying to win your business.
As a result, be prepared to encounter some rather creative methods with how discount networks compare themselves to their competitors. Here are some of the tricks some companies use to trick you, and how they spin their message to get you to sign on the dotted line.
Scratch. Bills. Buckaroos. Smackers. Dough. Green.
No matter what you call it, there’s just something about cold hard cash.
People have more appreciation for items they purchased with cash rather than credit, according to psychologists. Hollywood loves to show suitcases full of benjamins or handfuls of dollars raining down in slow motion. And what school kid doesn’t dream of catching a leprechaun and claiming its pot of gold?
The allure of cash is strong.
And the same holds true in the world of member benefits and customer rewards. There’s just something about cash back rewards that brings customers back again and again.
Did you see the recent statistics predicting a huge resurgence in travel this year? They’re pretty surprising, and yet not surprising at all.
Recent studies are showing that 80% of U.S. consumers planned to take at least one overnight domestic leisure trip in 2021, with just over one-third of respondents planning at least three domestic trips this year.
Hardly surprising, indeed – given that 72% of Americans didn’t take a summer vacation because of COVID-19 concerns. For a third of Americans, that included putting off a milestone trip such as an anniversary or graduation celebration.
At Access Development, our data is telling the same story. In the past month, we’ve had record setting hotel and travel bookings, many for the second half of the year. It’s clear people are planning ahead in anticipation of the lessening of restrictions that will come as more and more people are vaccinated against COVID-19.
Love at first sight can happen.
Just ask Hollywood.
Or if you want scientific proof, this study shows it takes about 1/5 of a second for the brain to make all the numerous judgments it takes to fall in love.
And for even more evidence, ask my husband. He loves to remind me just how quickly he fell in love with me, especially on a certain holiday in February... or when he's in trouble.
But it’s definitely rare. Not just for love between two individuals, but also between individuals and the businesses they frequent.
A customer is someone who buys something. A member is someone who belongs to something.
Every business should aim to have members, even those without a formal membership structure. Members, in this sense, are customers who have developed a deeper, ongoing relationship with a product or brand.
These relationships don’t happen by accident. Some brands can develop deep cult followings, but not all of us can be Apple or Starbucks.
We can however, borrow specific tactics from membership groups designed to build engagement and long-term loyalty.
Start small. Try any of these 20 member engagement ideas used by some of the largest membership organizations in the world.
It’s a new year, a new opportunity to set goals and succeed in any aspect of life one chooses to focus on.
The intention of a New Year’s resolution is to establish life-long changes that will improve the person’s life in some way. Whether you like to set official New Year’s resolutions or not, goal-setting has proven an effective strategy for increasing productivity and focusing efforts in the right direction.
And the effects are even more pronounced when it comes to businesses and organizations.
Of course there are some resolutions notorious for being dropped after the first few weeks (“get in shape”, I’m looking at you.) So the last thing you want is to set organization goals that get lost in the shuffle, or worse, send you down the wrong path.
