Who Doesn’t Love a Good Discount?
It’s hard to argue; while course discounts may not be the end-all, be-all decider, the way to your members’ hearts definitely takes a detour through their pockets. With the rising costs of…well, everything, your members will appreciate the savings–and your association will appreciate the results!
Now, while discounts and bundles and incentives (oh my!) may sound like simple enough solutions to keeping your members invested, it’s important to note that strategy should be employed here. You don’t just want to improve your return on investment: you want to maximize it!
In today’s article, we’ll be going through how to tailor your efforts so that everyone gets the best bang for their buck.
Boosting Your Reach
First, you can’t sell a course if your members don’t know it exists. Coupons and discount codes are similar; they’ll go unused unless you advertise them to your members.
There are plenty of ways to get the word out: post discount codes to your association’s social media, send out an email blast, announce them at events, add them to your newsletter, put them on your website–anything that helps you drum up excitement and let members know about the sweet, sweet savings you’re offering.
Don’t Go Big–Go Small
While broad discounts cast a wider net, you may be missing members with this approach. Instead, think small. Target specific groups with your discounts to create a sense of exclusivity and urgency. There’s a reason “limited time offers” are so enticing–you’re touching that Fear Of Missing Out (FOMO)!
When it comes to the “who” of your group, the sky’s the limit, so make sure to experiment. You can target different membership tiers, frequent users, or event attendees. Reward members for their time (and money) spent!
Your Approach
When it comes to discounts, there are plenty of options to pick from:
1. Giveaways
Have an upcoming event? Just looking to get some engagement going? Try hosting a contest where participants get the chance to win discount codes. Whether you do it online or off, giveaways present a fun and interactive way to give a little something back to your audience.
Hold a raffle, play bingo, do a quiz–whatever game you play, your members will be sure to enjoy it. You can even have “tiered” rewards–varying levels of discount for those who come in first, second, or third place!
2. Early Bird Renewal Discounts
If you want to encourage members to renew their memberships early, you can try offering discounts for on-demand continuing education content during the renewal season. You can even be adventurous and offer more alluring rewards, like 5 free courses for members renewing in the first month!
3. Bundles
Sometimes, members want to buy courses. Sometimes, they even want to buy a lot of courses. Take advantage of this by creating bundle discounts where members save more as they buy more. You could set it so that purchasing x number of courses gets them a nice percentage off (e.g. 4 courses give you 25% off), or you could set a spending threshold that, once passed, gives even greater savings (e.g. spend $50 to get $5 off or $100 to get $15 off).
This strategy doesn’t just increase the perceived value of your content, but encourages members to explore all the categories your platform has to offer. They may stumble across courses they never thought otherwise to take!
4. Student Discounts
One should never forget students when it comes to discounts. Not only are you providing a service to those who are not yet fully out in the field–you’re paving the way for a long (and strong!) relationship with your association.
Connect with local educational institutions and reach out to guidance counselors, teachers, and registrars; provide them with discount codes for students of your industry who may be interested in what content you have to offer. You’re building loyalty and value in one easy step!
You may also like: Vocalmeet’s Guide to Optimizing Your Association’s Marketing Channels
Conclusion
When it comes to boosting engagement, sales, and reach, discounts are an association’s best friend. By tailoring your discounts to different audiences, you maximize your impact within those groups. Additionally, taking a variety of approaches (giveaways, early bird discounts, bundles, and student discounts) can help you reach members of every kind. You’re not just slashing prices–you’re creating value!
Finally, keep in mind that what you want to do with this is experiment. You can’t make great decisions without great data, so try out as many options as you can when it comes to finding the best discount strategy for your association. You never know what’s going to get the most members through the door–but a nice discount never hurts your chances!
