There is a growing need for media and publishing companies to find new models of customer acquisition, retention and loyalty for the digital age. Content publishers and media managers can tap into the “sharing economy ” and use value-adds, such as a subscription travel club, to add value to their own subscriptions and turn more lookers into subscribers, and subscribers into loyal customers.
Member clubs such as the $9 Fare Club offered by Spirit Airlines or Amazon Prime can be an ingenious way for travel and non-travel brands to diversify their loyalty offerings and drive a different kind of added value than a traditional loyalty program might offer.
There’s no doubt that the sharing economy has changed the marketplace of accommodations, including where people stay, how they find new properties, what they expect from a property owner or management group and their expectations for a vacation rental website or app.
Brand relationships follow a simple law: the more you give, the more you get. That’s why consumers love loyalty programs – they get brand value beyond the price of the transaction, every time they spend. But many brands have been “giving” loyalty rewards and not seeing a return on investment. So what gives?
In the past ten years, services like Airbnb, Lyft and Uber have gone from being the cool/new “disruptors” to being the face of a new economy – a “sharing economy,” as it’s called.