Our memberships feature was released in 2023 and we’re thrilled to share that we’ve made some major advancements — based on your feedback! 

If unfamiliar, memberships are a customizable tool designed to bring in more repeat customers, reward your loyal patrons, and boost your revenue. To make it easier for you, we’ve outlined the four most common types of memberships in this Compass guide. 

This guide will explore the new features of memberships, a few best practices for optimizing your program, and tips for pricing your offering accordingly. 

What’s new with memberships?!

We’re always striving to help you meet your goals and find success — and this starts with ensuring each release supports your business needs. Since we introduced memberships, we’ve made a number of enhancements to improve its functionality. For instance:

1. 1. Make more revenue with retail add-ons: Apply membership benefits to your retail items so your members can easily add merchandise to their booking at a discounted price.
   2. Improve customer experience with start date flexibility: You can choose to start memberships on the first day of use versus the purchase date so your customers can decide when to start their membership.
   3. Better understand your membership sales with improved reporting: Dive into your bookings and sales report to learn more about memberships sold, member bookings, benefit usage, and more.
   4. Stay organized with a new filter view: A new filter was added to the members overview, making it easier for you to locate members by membership type, status, or expiration date.

Tips and tricks to selling and marketing your memberships

If you create the right program for your customers and market it with them in mind, you will start seeing the great benefits that memberships have to offer. You should:

1. Create demand and add urgency to buy now: Limit the number of available memberships to encourage your customers to join the loyal program; for example, “only 50 memberships available.”
2. Build awareness around your membership: Showcase everything your membership has to offer on your website to make it easy for your customers to learn more.
3. Highlight the program’s benefits front and center: Clearly outline the value and advantages of joining your loyalty program to entice your customers to make the purchase. Discounted rates, free passes, add-on gifts, and more!
4. Expand your reach across channels: Whether you promote your membership on email or social media, engage in your marketing channels to boost visibility to more customers.

Optimizing your membership pricing

Are you struggling  with the best way to price your memberships?  We’ve got you covered. Consider these pricing strategies:

1. Market-based pricing: Take a look at what your competitors are charging to get a benchmark of what the market is willing to pay for similar offerings. While we don’t encourage a copy-paste, it gives you a starting point to consider for your program’s pricing.
2. Value-based pricing: Calculate the value of what the members will receive with the membership benefits and set a price that is considered a win-win for your customers and your business. While you’d be providing these offerings at a discount when redeemed, the added value of repeat purchases and higher basket value of loyal members will surpass the initial discounted value.

Pro Tip: Your memberships pricing isn’t set in stone. Test it over time, gather customer feedback, evaluate sales, and continue to adjust until you reach the right price point.

Memberships can be a great tool to establish more loyal customers and raise your bottom line. For more recent Product releases, check out the featured articles below.