Jun 20, 2018

Virtuagym Closes €6 million Series B investment

Congrats to our partner Virtuagym for their €6 million Series B investment! Virtuagym is a leading provider of cloud-based fitness software and apps. They will use the new funding to fuel international growth of the company. Get the full details on this exciting news below:

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Jun 14, 2018

6 Key Steps to Structuring a Successful Rewards Program

This article originally appeared on MINDBODY.

A rewards program can be a great tool to retain clients and bring in new business—but you have to structure the program well or it can cause problems. For example, you can’t give too much away because the program will become too expensive, but you can’t give too little or your customers will lose interest. That’s why we created this quick guide for structuring a rewards program that will set your business up for success.

  1. 1. Use a Point System

    The tried and true point accumulation system works where activities like spending money or attending classes earns points, and those points are redeemed for prizes. There’s a reason the major airlines and credit card reward programs are set up this way. This structure is easy for customers to understand and incentivizes them to engage more deeply with your business.

  2. 2. Calculate Your Earning Velocity

    The average earn velocity tells you how many points each customer earns per month on average across all of the activities you reward. For example, for a yoga studio it might take into account the average number of classes attended each month, amount spent on retail, appointments or workshops attended and referrals. Let’s say for example that this equates to 30 points per month. You wouldn’t want a free class to cost 1000 points in this scenario because it would take the average customer almost 3 years to redeem a free class. But you wouldn’t want it to take only 50 points to redeem a free class either or the average student would get a free class every other month. You can contact us at Perkville to get a spreadsheet to help you calculate the average earn velocity.

  3. 3. Make a Reward Attainable within Three to Six Months

    Your customers should be able to earn at least one reward within a 3 to 6 month timeframe. Otherwise, they will lose interest in your program, and it won’t be effective. Ideally this reward would be small or inexpensive. For example, a health club may offer a smoothie or discount on retail. In the example above, it would mean at least one reward would cost between 90 and 180 points.

  4. 4. Award Big for Referrals

    A successful referral is often worth hundreds of dollars to health and wellness businesses so ensuring that the points given for a referral are appropriate (not too cheap) is important to keep clients interested in referring friends. As a good rule of thumb, reward your referrals enough such that they can redeem a high value reward if they bring you a new customer.

  5. 5. Use Your Rewards to Cross Sell

    Entice customers to try different services or products at your business by cross selling. For example, if you’re a salon, use retail as the rewards so more customers give your hair products a try. Or if you’re a gym, make personal training a reward so that more customers try PT. Cross selling not only encourages customers to try out offerings they may have not otherwise, but also adds variety to your rewards program.

  6. 6. Add Partner Rewards to Your Program

    You don’t want the rewards you offer with your program to put you out of business, but at the same time, variety is important. A good way to give customers great value rewards while also keeping the rewards financially feasible is to partner with other nearby complimentary companies. For example, if you’re a spa, perhaps partner with a local salon who may offer your customers a reward such as 50% off their first haircut. Or the local coffee shop might be willing to offer your customers a free coffee reward to drive traffic to their store.

client retention rewards program mindbody

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Jun 13, 2018

IHRSA 2018 | Takeaways from Bill McBride from Active Wellness

Every business wants a competitive edge.

For those in the membership management software (MMS) industry that can be achieved by having an open platform. Bill McBribe, President & Chief Executive Officer at Active Wellness and industry veteran, breaks down why MMS companies can’t afford to not to collaborate with 3rd Party Applications if they want to keep customers happy. Check out his post below:

IHRSA 2018 | Takeaways from Bill McBride from Bill McBride Consulting

industry news tech

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Jun 11, 2018

Here’s Mary Meeker’s Essential 2018 Internet Trends Report

Want the latest stats and trends in tech?

industry news tech

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Jun 8, 2018

Club OS & Perkville: Leveraging Rewards to Increase Revenue and Retention

Get more leads and grow membership with Club OS and Perkville!

customer loyalty client retention rewards program webinar ClubOS

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Jun 6, 2018

Upcoming Webinar: 3 Key Steps to Structuring a Successful Rewards Program

 

customer loyalty client retention rewards program webinar ClubOS

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Jun 4, 2018

Perkville’s CEO Talks How to Increase Referrals and Retention with Nicole Chetaud

Sunil Saha, Perkville’s CEO, was interviewed by certified MINDBODY business consultant, Nicole Chetaud. They discussed how to use Perkville to generate referrals and increase client retention. They also covered best practices for rewards and points, educating clients about Perkville to get engagement and more. You can read the summary and listen to the podcast here.  

customer loyalty marketing client retention referral marketing yoga business consulting rewards program podcast

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May 31, 2018

NutriMost Wellness & Weight Loss Chooses Perkville as Preferred Vendor for Member Rewards

press release rewards program

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May 29, 2018

How 3 Top Brands Are Winning With Customer Engagement

Customer engagement is a buzzword that any CMO or marketing pro can throw around strategy meetings as a top objective, but the pathway to achieving it in any measurable fashion may be more elusive than it seems. Customer engagement can be defined as the connection between a customer and a brand, and this successful connection is more important than ever before.

customer loyalty marketing guest post

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May 25, 2018

California Family Fitness uses Perkville's Smart Save to Win Back Members

We all know that once members are out the door it’s very hard to get them back. And for California Family Fitness, a 19-location chain through Greater Sacramento, a winback campaign powered by Perkville helped them improve member engagement. Check out our case study on how Perkville used machine learning to predict when members would stop coming to the club before they stopped coming completely in order to re-engage at-risk members.

California Family Fitness Win-Back Case Study

California Family Fitness customer loyalty smart save win back campaign

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