Mar 30, 2023
As a business owner, one of the most important metrics you can measure is your “customer lifetime value”, or CLV. In simple terms, the lifetime value of a customer is the total profit (revenues minus cost) he generates for your business during his entire lifetime as your client.
There are many things you can do to improve this metric, but all of it fundamentally boils down to two activities:
Getting your clients to visit you more often (both more frequently and for a longer “lifetime”)
Selling more products and services during each visit.
We’re very excited to announce a powerful new feature that will help you do both: we call it Series Vouchers!
A series voucher (sometimes called a loyalty voucher) is a type of prepaid voucher or coupon that customers can purchase in advance for a series of appointments or services.
A series voucher typically offers a discount or a special offer to customers who purchase multiple appointments or services in advance. For example, a customer might purchase a series voucher for five appointments with a massage therapist or a hair salon and receive a discounted rate for each appointment.
Many successful appointment-based companies have an internal incentive program where staff members and contractors are rewarded for “upselling” a Series Voucher, effectively turning a “walk-in” into a loyal regular by giving them a reason to come back multiple times. This is also beneficial for cash-flow reasons and can help prevent customer churn.
We encourage you to experiment with this powerful feature in your business. Noona HQ now makes it simple as 1, 2, 3 to create and manage series vouchers on a per-client basis!
Other fixes and improvements
For our POS users, we added three new payment methods: “Manual card payment”, “Wire transfer” and “Payment app”. You can still select “other”, but this should make accounting and reconsiliation easier.
… and more