Retention rate is the ratio of the number of retained members to the number of at risk members and/or health club memberships. In contractual situations, it makes sense to talk about the number of members currently under contract and the percentage retained when the contract period runs out. Retention rate should not be confused with growth rates or decline rates.
Health club membership retention or member retention is a key aspect of health club marketing and is paramount to the success of the health club. Think about the cost ($1 to $6) that would be associated in trying to acquire a new member to take your present member’s place. You will realize acquiring a new member would be far more costly and it is so much better to invest your time and money into retaining your existing members which you have already built a relationship with.
Member retention is not growth; it is a segment of health club marketing maintenance you need to invest in for the life of your health club’s success. Growth is a completely different aspect of health club marketing but player retention is a very important part of health club marketing maintenance. Health club membership retention or player retention can easily be achieved by simply paying more attention to the prospective member i.e., giving them more of what they are looking for.
Do a little research, put out a little survey when sending out emails instead of always trying to sell the prospective member something. Send out a questionnaire; ask the prospective member simple survey questions like what are their reasons for staying with you, what is it that they love about your health club, what aspect of your health club do you need to improve to better serve them, what other programs would they like you to implement in your health club in the future, etc. By focusing on and improving your customer service you will increase your member retention ratio which is the key to your health club’s long-term success.
It is necessary you continue to strive to build your member retention rate. You need to make sure you are servicing your prospective members at the highest level possible. Retaining your existing member is much easier than acquiring a new member to take their place i.e., you’ll spend $6 to acquire a new member as opposed to $1 to retain a member.
Focus on customer service and member retention in your health club marketing and you will grow your health club and your health and fitness career.
For more free tips on increasing your health club membership base through health club marketing, health club campaigns, professional health club membership sales and advancing your health and fitness career visit us today @ www.healthclubmarketingmmc.com or call 904-217-3762.