Semnox Solutions, a provider of technology for the entertainment and amusement industry, has announced that its latest Falcon release includes the capability to sell recurring memberships, otherwise known as subscriptions.
This allows its customers to benefit from recurring income, as well as the chance to look at how they can increase value for returning visitors. For a model where income is based on footfall and customer retention, as is the case for more FECs and amusement centres, selling subscriptions is a good business decision.
Subscriptions made easy
The Subscription Economy Index (SEI) report measures the growth in the volume of business for subscription-based products and services, and shows that the Subscription Economy has grown over 435% in 9 years. So, it is clear that visitors are open to subscription-based products, particularly in the wake of the pandemic.
A successful subscription offer requires two key elements. Firstly, the value the venue can give the guest, and secondly, the ease of ability for the guest to confirm they want to continue. When this process is not straightforward, visitors become demotivated, plus it becomes an additional effort for the management. This is where systematic recurring billing solutions come in.
Semnox’s new functionality for Parafait and Tixera includes:
- One-time payments for the entire subscription cycle or payment at the beginning or subscription cycle
- Auto-renewals and manual renewals
- Provision of free trial period at the beginning of the subscription and grace period for
- renewal of expired subscriptions
- The ability to pause and resume subscriptions
- Automatic reminders to customers for renewal
- Detailed analytical reports to track the subscriptions
These features give venue operators the ability to run successful subscription offerings as well as reducing the manual efforts of tracking and reporting. Staying in touch with guests is simple, with easy reminders and offers.
Improving the guest experience
“Introduction of Recurring Memberships as an offering is another step in our direction to make the customer experience better while providing venues with more options to expand their revenue streams,” says Ashish KS, Group Client Manager, Semnox Solutions.
“While all the venues understand the value of retaining their existing guests, they struggle to offer easy ways for the guests to continue. The recurring membership is a very powerful capability for the venues that will see a significant adoption from the guests as well. We are sure this will be a great value-add to businesses.”
Earlier this year, Semnox supported Fun Starz in opening its first indoor entertainment centre in Saudi Arabia. The new attraction, in Al Murjan Mall, Al-Safa, Jeddah, uses the company’s Parafait system, with its RFID cards and Parafait Beam readers, to streamline operations.