How Account Balance Could Increase Your Revenue (Beta)

Follow

This article will take you through; 

  1. How to set up Account Balance
  2. How to use Account Balance to increase your revenue
  3. Next steps and additional support

How set up Account Balance

'Account Balance' is a new feature that streamlines the payment process by allowing clients to put a credit value onto their account so they can use it later. It also allows you to put a credit value into your client's account to use as an incentive or reward.

To learn more about 'Account Balance' its benefits and how to set it up, read the below article; 

How to use Account Balance to increase your revenue

Using 'Account Balance' is a great way to increase revenue as it encourages impulse buys and frequent spending. Take a look at the following examples to see how you could be driving sales; 

  • Your clients can't see their account balance and therefore are more likely to spend. Similar to using the 'tap' feature on debit and credit cards, the value of the money being spent can appear less tangible, therefore encourages spending to happen more frequently
  • Account Balance has the ability to go into a negative balance, meaning client's can continue to spend without needing cash or cards to hand, they simply pay the balance on their next visit to your gym/studio
  • Account Balance makes ad hoc purchases easier which in turn increases sales
  • Account Balance also allows you to sell 'Gift Cards', further driving revenue

meghan-holmes-wy_L8W0zcpI-unsplash.jpg

Next steps and additional support

'Account Balance' is in Beta, if you would like early access, please let us know by emailing us at: customersuccess@glofox.com

Once you have 'Account Balance' figured out, you will likely want to monitor your 'Transaction and Payout reports. Read the article below for more information on those; 

For additional support, reach out to support@glofox.com, and we will be happy to assist you.

Was this article helpful?
0 out of 0 found this helpful

Comments

0 comments

Please sign in to leave a comment.