(Time to read this blog article about 30 seconds)
Amazon Prime offers free 2-day shipping for eligible purchases, unlimited streaming of movies and TV shows with Prime Video, and the ability to borrow books from the Kindle Owners’ Lending Library…all for $99 a year. It’s estimated that the number of Amazon Prime memberships in the U.S. jumped 35% last year to a total of 54 million households. This is about 46% of all U.S. households. At $99 each that’s $5.4 billion in membership fees. And, Prime Members spend, on average, about $1,100 per year, almost double the $600 per year spent by non-members.
So, how could you come up with a special value program for your customers that would ‘grab’ them, make them feel special, make them more loyal, clearly differentiate you from your competitors, get you talked about…and grow your bottom line? It wouldn’t have to an actual ‘membership’ but some kind of a program or incentive that brings them closer to you emotionally and financially. Something that makes it easier for folks to do business with you and rewards them for doing so.