Do you wish to keep your customers engaged with your content, then why not offer some content on credit? Provide your users with an option to choose the best of your content on credit and gain more subscriptions and a recurring engaged audience base as your credit return.
A Credit based system allows members to buy your membership content in exchange for credits instead of money. To understand how an effective credit based membership system works, let’s take an example of an active successful credit based membership: The world’s largest provider of audiobooks – Audible would be the best example.
Are you an active user of Audible? If so you will be familiar with audible’s credit based membership subscriptions. Their membership works by letting you purchase any audiobook of your choice by redeeming the credit points that you earn as part of your membership. You will be able to purchase any audiobook irrespective of the price for the credit points earned with your subscription. Consider an audiobook which costs 9$ and another audiobook that costs 24$. You can buy any of these books for the same number of credits through Audible.
But how is it profitable you ask?
Short answer: Engagement.
Audible’s gold membership offers one credit per month. That is one audiobook per month, irrespective of the cost.
This promotes users to engage with the platform and pave a way to more and more sales. Amazon is very good with their offering and marketing strategies and offers members additional discounts and benefits which would add to the engagement.
Now that you have understood the use and relevance, do you want to implement a credit-based membership system to your membership website?
Credit Based System on Membership Sites using AccessAlly
The implementation of a credit based system in WordPress membership site can be achieved by using the AccessAlly Membership plugin. The credit system when implemented would allow you to store a number of points in a particular user and allow the user to redeem these points by unlocking content. All of this is done in an efficient automated way through AccessAlly. Points can be earned in many ways: say every member earns a particular number of points per month or they can be bought or as an accomplishment for completing courses or any other way that you wish to offer them.
A good implementation idea would be to offer the users a way to help them decide by adding an assessment/quiz. This quiz/assessment would help decide the best piece of content to unlock based on interaction. This way it prevents members to be overwhelmed and they love that you’re guiding them all the way and present them with the next best piece of content to unlock based on their needs.
What do you think about Credit-based Membership Systems? Let us know in the comments below.