A membership is a great business model that allows you to create recurring revenue. But if you want to increase that revenue, you need more members. If your first thought is that you need to double your marketing efforts to get that done, stop right there.
You don't have to put even more on your plate and sacrifice time that could be better spent approaching your existing members. This is even more true when you consider that the cost of customer acquisition (CAC) can be very high. It can cost five times more to acquire a new customer than to retain an existing one.
Therefore, it is a better idea to see if your existing customers are interested in buying a gift for someone else before trying to find new customers. To help with this, you can use gift memberships to let people give the membership as a gift to their friends and family members.
Memberships are becoming increasingly popular as gifts for your loved ones. However, not all software makes it easy to gift memberships to others.
In this article, we explain what gift memberships are, discuss best practices for gifting a membership, and provide practical tips for converting gift recipients into regular subscribers.
Author: Patrick Rauland
paidmembershipspro.com
