Reward Points Turn Customers into Loyal Creditors
Increasing sales happens in two ways: gaining new customers and persuading old customers to buy again. You need to spend a lot to attract new customers, but old customers come back to you at much less cost. Loyal customers do word-of-mouth advertising for you because they have gained some benefits from you, whether directly or indirectly.
Almost all of a venue's customers are constantly holding events. Therefore, you must do something to turn them into permanent customers. To do that, you must be ready to go the extra mile to offer your customers more options and value for their payment. Design a system and give points to customers every time they rent your venue. For example, consider every event equal to 50 points. Then consider a reward for each certain amount of points. When customers get 1000 points, they can rent one of the venues for a 4-hour event free of charge, or every 500 points could equal free refreshments for the event's guests.
Using reward points is one of the most important tools to engage customers. Customers can't leave you because they must spend their points and they know you owe them. By giving points, you explicitly tell them, "I owe you, so stay loyal to me." Even if the customers are not loyal and sign contracts with different venues, they will still have to refer to you again up to a point, to use what you owe them.
The smart move is that when customers receive the prize for their points, some extra points are given to them to continue the cycle and keep them your permanent creditors.