For your next trip to Montreux and if you wish to do several excursions, you should consider buying a Regional Pass which is to my opinion the best way to discover the region.
The Regional pass is the ideal transportation ticket for excursions by train, boat, coach, funicular or mountain train in the region. 

You can buy the:
- Regional Pass 5, that will allow you to get 2 days of unlimited travel + 3 days at 50% discount. The cost for a 2nd class ticket is CHF.  94. -- / adult and CHF. 47. -- for a child. (from 6 to 16 years old)
- Regional Pass 7, that will allow you to get 3 days of unlimited travel + 4 days at 50% discount. The cost for a 2nd class ticket is CHF. 136. -- / adult and CHF. 57. -- for a child. (from 6 to 16 years old) 

As buying every single ticket can be rather expensive, this is a great solution at a reasonable price.

With the regional pass you have a wide range of excursions:
- Gruyère: where the famous Gruyère cheese is made
- Gstaad: The VIP ski resort
- Lausanne: the Olympic Capital
- Geneva: the calvin city
- Evian: where the famous water comes from
- Broc: to visit a chocolate factory 
- Vevey: where Charlie Chaplin used to live

We are selling many of these and I never heart that someone wasn't happy with it. Just be on time as trains won't wait for you !!
The regional pass can be bought at the train station, however also with the concierge of any of the Montreux Suisse Hotels.