Published December 9, 2011 | 
That is what is happening with businesses of every kind from retail and wholesale product lines to service companies. They are discovering a seemingly new stream of income, which ironically, has been around a long time, in various shapes and forms. It is called “continuity income” or in many venues it is called “memberships” and consists of recurring billing. For years work out facilities and tanning salons, among other businesses, have given opportunity to join a club or facility and pay a monthly fee. Country clubs and private golf courses are known for their monthly club fees.
Do not think it is just limited to workout facilities and golfing events. Service providers, such as home contractors in the form of plumbers, electricians, heating and cooling contractors are being taught to have priority clubs with a small monthly fee from $5.95 to $34.95. And for that fee they are given one or two free checkups and home evaluations, priority service and more. Doctors, chiropractors, lawyers as well as your local auto repair shops are utilizing this additional multiple stream of income to not only increase their monthly income but to increase their customer’s loyalty factor. Restaurants are even giving discounts and preferred seating or reservations for a monthly fee.
Think of it, if you could get 1000 persons giving you $15 or $20 each and every month, and made to feel special because of it, your annual income would increase some $180,000 to $240,000 per year over what you had last year. And you didn’t lose any money, because you did not have it in the first place, each and every month. With that additional loyalty your customers will spend money more often with you in addition to their small monthly investment.
So, why aren’t more companies doing continuity programs? Part of the reason is that they have never really thought that continuity programs were for their business type. One day a lawyer and I were talking about continuity programs, and he said that he was “old school” and just could not see how a “membership club” would function for him, and more important was the fact that “how would his present customers feel about a lawyer implementing such a strategy? His fear of loss of income kept him from realizing greater income.
I really call it limited thinking. If you are going to have tremendous cash flow in multiple streams today then you will need to break loose from your present thinking, and totally throw the box away. You will need to think differently, strategize differently, come up with seemingly new ways, and not be hamstrung with old thinking.
So what really is a continuity program? It is elevating your customer or client to a preferred status and giving them some type of perceived preferred treatment and in return collecting a small amount of money automatically each and every month, until and unless they cancel. In doing so, you incrementally increase your monthly cash flow on a regular basis and since it is automated, you will get it faster, and be guaranteed to get it!
Is it right for your company? Absolutely! I can think of very few companies that would not benefit from a continuity program. Start thinking, start imagining, start coming up with what you could offer and make a plan. Then implement it, sell it through incentive sales for your sales people and staff, and in turn reap the rewards of continual guaranteed dollars added to your bank account every month.
