Semnox’s suite of products for FECs, Parks and F&B Segments, in its latest Falcon release has included the capability to sell recurring memberships — also known as subscriptions. Amusement centers already utilizing Semnox’s Parafait or Tixera solutions now have access to this updated feature. This addition is aimed at providing an opportunity for business owners to acquire a safe zone of recurring income and a push to relook at how they sell their products and increase their value proposition for their loyal customers.
As per the Subscription Economy Index (SEI) report, a report which measures the growth in the volume of business for subscription-based products and services, the Subscription Economy has grown over 435% in 9 years, indicating a growing openness by consumers toward the use of subscription-based products.
Semnox’s capability to sell products on subscription basis to its customers supports the following features:
- One-time payments for the entire subscription cycle or payment at the beginning or subscription cycle
- Auto-renewals and manual renewals for the subscriptions
- Provision of free trial period at the beginning of the subscription and grace period for
- renewal of expired subscriptions
- Pause and resume subscriptions
- Automatic reminders to customers for renewal
- Detailed analytical reports to track the subscriptions
“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. 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,” said Ashish KS, Group Client Manager, Semnox Solutions.