5 Ways of Generating Revenue While Delivering Value to Customers

5 Ways of Generating Revenue While Delivering Value to Customers

As a business owner, you are constantly searching for new revenue streams. If you want these to be sustainable and produce lasting profits, they need to provide value to customers. In other words, customers need to feel like the new products or services are worth purchasing.

Where does the value come from? You might offer add-ons that enhance your customers' experience or provide premium service packages. You can reward loyal customers with membership deals or offer dynamic pricing based on time, day of the week, or other factors. Finally, you could consider special occasion packages for birthday parties or other events.

These new revenue streams can give you the best of both worlds by making both you AND your customers happier. The extra earnings will put you on the track toward higher profits. At the same time, you'll be giving your customers more value and better experiences.

#1 Enhance Visitor Experiences with Add-ons

Offer services or products that help your customers get more out of the visit. Add-ons can take many different forms, from audio guides at a museum or meal deals at a family entertainment center (FEC).

These add-ons allow your customers to choose the experience they want to have. If they want a simple outing on a budget, they can purchase a basic ticket. However, if they want to enhance their experience with a few extras, you give them that option.

What are the advantages of add-ons?

• Create revenue streams: Add-ons allow you to earn more without adjusting your basic admission or ticketing pricing.
• Give more options to customers: Your customers can choose their experience and purchase enhancements accordingly.
• Access a larger sales toolset: Smeetz can help clients deploy a wide array of add-ons and packages to customize their commerce platform. We handle the technical part so that you can focus on marketing and sales efforts.

We have worked with different clients and understand the nuances of different verticals. Based on all this knowledge and experience, we can help you manage add-ons that increase revenue by as much as 15% per visitor.

#2 Build Loyalty with Recurring Memberships

Memberships give loyal customers an alternative to single-visit tickets. You can price your memberships in a way that rewards frequent visitors with a lower overall per-visit price. At the same time, you get guaranteed monthly revenue that isn't tied to admissions for a given day.

With recurring memberships, you can also automate payments so that customers don't have to pay their fees manually each month. We can add membership payments to your platform so that you can process these repeat payments securely.

Are recurring memberships worth it? Yes. Here's why your business needs this option.

• Get consistent earnings: You'll get predictable monthly revenue from memberships.
• Reward loyal customers: Repeat visitors will have the option to get a membership and lower their per-visit costs.
• Automate payments: Smeetz has introduced a new feature. We can set up recurring memberships so that you can easily and automatically manage payments.

Depending on your business, recurring memberships can increase revenue by up to 25%.

#3 Offer Premium On-Site Experiences

Premium experiences can bring high-value options to your customers. Perhaps some visitors want to create a memorable experience for a special occasion. Or maybe they want to entertain special guests or simply indulge with some VIP treatment.

You can offer private tours or parties or host exclusive ticketed events. Perhaps you simply want to give your customers a VIP option with food, beverages, or experiences.

How can premium offerings bring positives to your business?

• Add high-value experiences: You can cater to customers who value special treatment.
• Increase customer satisfaction: Give customers more options for special occasions and exclusive access to visitor attractions.
• Streamline sales and payments: At Smeetz, we have expertise across many verticals and ticket types. We can help set up your commerce platform for easy booking and creating ticket bundles and packages.

These premium offerings can increase your revenue by as much as 20% while also improving overall customer satisfaction.

#4 Maximise Revenue with Dynamic Pricing

Like everything else, ticket sales follow the laws of supply and demand. Dynamic pricing tools offer a way to take advantage of this phenomenon. By harnessing the power of AI, our platform can gauge prices based on many different factors and come up with the ideal price for a given time.

For instance, demand for amusement park tickets could be highest on summer weekends, or families could flock to FECs during school breaks. With dynamic pricing, you can take advantage of the revenue potential of these high-value times.

What advantages does dynamic pricing bring?

• Maximise revenue: Our dynamic pricing system weighs demand and chooses the best possible price for a given time.
• Automate calculations: You can use the system to automate pricing without having to manually change inputs.
• Increase low-season sales: Lower prices during slow times can attract new customers seeking budget-friendly pricing.

Imagine always setting the perfect price and never leaving money on the table. That's possible with AI-powered dynamic pricing. How much can it earn you? With our system, you can increase revenue growth by up to 25%.

#5 Manage Birthday Parties

Birthday party packages can give you a dramatic revenue increase. You can design all-inclusive events with different themes or with different age groups in mind. Meanwhile, a la carte or add-on packages will allow customers to tailor the party to their preferences.

Birthday parties can take your revenue to the sky because they can happen year-round. Plus, customers often search for packages that provide value and convenience instead of trying to juggle party planning themselves.

Here's what adding birthday party packages to the experience menu can do for your business:

• Streamline booking and coordination: We set up the ticketing platform with a comprehensive online purchase flow, letting customers easily book and customize their party.
• Attract more customers: Offer different themes or packages to attract new customers or give existing patrons more choices.
• Increase revenue year-round: Unlike other events, which often happen during holidays or the summer season, birthdays can happen at any time of year.

How much can easy-to-book birthday party packages supercharge your earnings? In our experience, birthday parties can increase revenue by up to 35%.

Ready to Generate Revenue and Bring More Value to Customers?

At Smeetz, we are experts in adding revenue streams to your commerce platform. But, we don't just give you pre-packaged solutions. After all, you know what your customers want. We also listen to your exact needs, and we work hard to customize your ticketing and sales platform for all your revenue streams.

Adding revenue streams does not have to be complicated and risky. Reach out to us today to see how we can add revenue streams and help you give more value to your customers.

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