What’s a paid membership?
Paid memberships on RareCircles offers an exclusive way for brands to deepen relationships with their best customers by providing them with special benefits and experiences. There are various types of paid memberships, each designed to suit different brand strategies and customer needs. To get a better understanding, explore the different examples below.
These memberships are all about delivering deeper value to your most loyal customers in exchange for a stable recurring revenue stream— a win-win proposition that fosters long term relationships.
What business objectives does a paid membership achieve?
At its core, a paid membership program introduces a new revenue model. This is not just about immediate sales; it's about creating a consistent revenue stream. Memberships ensure a more predictable and stable revenue flow compared to one-off sales, aiding in financial planning and growth projections.
In today's hyper-competitive landscape, creating a membership also allows you to distinguish yourself from competitors by offering members with unique benefits that cannot be replicated (you can easily knock-off a product but not a branded experience). By positioning your membership as a personalized experience, you can provide premium products and services to drive long term loyalty
Related KPIs:
Revenue
Customer lifetime value (CLTV)
Customer retention
These indicators help measure the success and impact of the membership program.
Which segment of your customer base is it for?
A paid membership program is particularly suited for segments of your customer base who demonstrate high engagement and purchase frequency. It’s ideal for those who value exclusivity and are willing to pay a premium for special treatment and benefits.
How to build a paid program on RareCircles
Step One: Create your membership on RareCircles
If you have a Shopify store, you can build your membership plan using our Shopify app, the RareCircles Membership Builder.
If you are not a Shopify merchant, you can instead build a paid membership directly through RareCircles with payment processing powered by Stripe.
In order to configure a paid membership program, you must first create an account with Stripe. Learn more.
Step Two: Define your benefits
Tell members what to expect by adding up to eight unique benefits. Define the core value of your program by selecting benefits that are both appealing and relevant to your target audience. Consider focusing on a few key benefits rather than a lengthy list, as this not only makes your offer more compelling but also ensures clarity and manageability. Ensure each benefit is clearly defined and avoid vagueness; members should understand exactly what they're gaining.
Suggested Benefits Include
Member-Only Pricing |
Encourage the next purchase and offset the cost of the membership. |
Exclusive Access to Products |
Priority Order Processing |
Early Access to New Drops |
Special event access (if applicable) |
Step Three: Promote your membership
Add your membership program to your website. Consider, creating a bespoke landing page to showcase your program to offer a more branded experience for prospective members.
Drive contacts to your landing page by incorporating invite links into your marketing emails. See how to automate this process via our integration with Klaviyo or Zapier.
Convert your social media audience into members by linking to your landing page in your social media bio(s).
You can also turn any activation (gift card, exclusive products, early access) into an opportunity to attract members. Learn more.
Keys to a successful paid program
1. Membership pricing
The right price will depend largely on your brand positioning, average order value and costs associated with membership benefits (hard costs of goods and running events).
Set a membership fee that reflects the value offered. It should be attractive enough to entice sign-ups while ensuring members feel they are receiving significant value for their investment.
2. Effective marketing
Target the right audience with clear, compelling messaging that highlights the benefits of the program. Utilize various marketing strategies to reach potential members and emphasize the unique advantages of joining.
Some strategies to consider:
Integrate your landing page into your website or create one of your own.
Add link(s) to your membership program in your social media bio(s).
Create email drip campaigns promoting your offer to target members.
3. Seamless benefit delivery
The member experience should be smooth and fulfilling, reinforcing the value of your customers investment and encouraging long-term loyalty.
RareCircles automatically pushes notifications to your members when you enable member notifications. To provide a fully branded experience, integrate with your third party tools such as Shopify and Klaviyo to seamlessly deliver benefits automatically via email.