Kane Mantyla, a former float center owner (and hopeful future owner again!), and owner of RewardMore joins us in this episode to share his story and how it led him to create a really cool rewards program. Kane’s center started many years ago, and he studied member behavior and picked up on a few key facts. He realized that many clients loved the experience, but didn’t want to commit to a membership, and of those who did, members often started floating frequently, but then quickly dwindled away. He examined other membership programs, like airlines rewards, and saw that most of them took too long to earn rewards.
Kane shares how to create a rewards program that will drive results, even without using his program. (Although his software makes it much easier to automate and manage!) One of his many nuggets of wisdom may shift your thinking on memberships: “When we commit to something, the second we do, it turns into obligation.” He created a program to avoid that sense of obligation and instead reward those who signed up with a discount. If they come back within a set time frame, they retain that discount, but if they don’t come back in time, the discount amount decreases. He saw his retention rate increasing immediately by using this “frequency loyalty” program, and eventually decided to make it available to help other centers.
You’ll also hear about some features on Kane’s roadmap for RewardMore, and how he’s using a Freemium pricing structure, so you can get started with the program for free until it starts earning revenue for your business.