Does Travel Club Membership Have a Role in Retaining Loyal Customers?
The key to a successful business and revenue growth is not just bringing in new customers but retaining the loyal customers you have, too. It is true for travel businesses especially in the ongoing crowded e-commerce era where clicks and conversions are adding to the cost.
As per research by Harvard Business School, a business can increase profits by 25% to 95% just by increasing retention rates by 5%. (Source) Sounds good, right? But how does a business increase their customer retention rates effectively? What is the best way to re-engage your customers to get them to come back? Simply splurging on sales and marketing won’t do the trick.
Invest In A Member Loyalty Program
The surest way to retain the customers you have invested in is by offering them a loyalty program that they can believe in and keep coming back for more. Travel club membership programs maximize your business’ existing acquisition efforts by offering them a unique array of travel benefits and lifestyle services.
- Position your travel club as an accessory to the products you already offer, or membership bonus
- Surprise your customers by offering travel club access as a new feature with personalized rewards earning potential
- Generate momentum in retention by providing hotel credits or bonus offers that speak to an emotional connection with the user
Rewards & User Experience
Reciprocation through rewards will delight your existing customers and keep them coming back for more. Handing out freebies can be costly. This is why travel club membership gives your customers the best in class services with frugal add-ons such as baggage discounts and seat upgrades. People love being VIP members of the loyalty clubs and travel clubs are an ideal retention loyalty program that makes members feel like a VIP with loyalty benefits that surpass travel and lifestyle.
Travel clubs prioritize retention and employ the best customer retention ideas to reduce attrition. By encouraging new customers with welcome rewards and a touch of personalization for loyal customers, travel clubs caters to each and every member. Your business can witness a significant increase in customer purchase frequency as members will purchase more to earn more travel club rewards. Each time they shop, your business will generate more revenue with repeat purchases.
Travel club models understand that communication is the backbone of retention toolkit. Customers are engaged by sending follow-up emails, newsletters, exclusive invites to the events, and other endorsements. This type of acknowledgment makes your business more approachable to the customers and builds lasting trust.
Travel club helps your business to achieve the never-ending pursuit of excellence by working on key facets – error-free process, dedicated customer service, reducing customer churn with an immediate and proactive response, continual customer satisfaction, expand cross-selling and nurture customer relationships.
Even a small increase in customer retention rates can dramatically increase your business revenue and profitability.