According to CEB’s annual report, total gift card volume (gift card market including physical cards and e-gift cards) will reach $160 B by 2018. Gift Card Market Steadily Grows This projection is in line with sales growth in 2015. The year saw a 6% growth over 2014, which meets CEB’s projection of 5-6% industry growth … Read more
With the July 6th release of Pokémon Go, the entire country is witnessing the power of brand pairing and incentives. It is likely a surprise to you that this game is an example of brand pairing. While it is The Pokémon Company and Nintendo that published and distributed it, the development was done by another … Read more
Member loyalty is too often overlooked when aiming to build a substantial membership base. Consider the basic steps in member acquisition: 1.Identify prospects; 2.Engage prospects; 3.Convert prospects to leads; 4.Convert leads to members In this piece, we are focusing on step number 5: Retain members. Most marketing efforts are focused on member acquisition. Prospects are wooed … Read more
Your Incentive to Use Gift Card Incentives. Before Gift Cards “Get one month free” “No enrollment fee” “Discounted membership” Elementary Incentives You believe these are your “tried and true” incentives. The rationale is relatively simple, consumers love a bargain and you’re still within your profit margin. No Future Motivation What else does it motivate? … Read more
In a recent study conducted by The Wall Street Journal it was found that a surprisingly large amount of America’s money exists on gift cards. In particular, Starbucks gift cards and corresponding app hold a lion’s share of the virtual cash in the amount of approximately $1.2 billion. 41 percent of Starbucks in store purchases … Read more
Do You Know When to Incentivize? “When do I incentivize a call to action?” “What call to action do I promote?” ”When do I run a promotion?” These three questions can really be addressed in one directive: When to incentivize. First, let’s address the purposes of incentives. Summed up quickly, an incentive is a … Read more
While most people look forward to summer with bicycle rides in the park, uncovering the backyard pool or strolling along the shore, fitness clubs and gyms typically look to summer with dismay.
Instead of losing members to the siren’s call of sunny days, try these tactics to bring those members indoors (your doors.)
You are always collecting data. Maybe passively, maybe aggressively. If you’re a gym you should be collecting attendance data every time a member enters and signs in or swipes their membership card. You have names and emails through their membership forms. There is a whole collection of actionable data that you have for most every … Read more
What do you take into account when choosing which incentive to use for your promotion? 1. Relevance to Customer Base The idea of making an incentive synch with your own brand isn’t the only point of relevance to take into account. The incentive should be relevant to multiple demographic details of your customer base. For … Read more
When your business considers what kind of incentive to use for its clientele, a key consideration is the incentive’s perceived value. Gift cards have always served well in this area, as they represent virtually anything the customer desires. Gift card regulations are now eliminating the one downside that some thrift-savvy customers had noted, unused residual balances. … Read more