Maximize Your Revenue with These Powerful Retention Tactics
For health club owners, discovering the formula for keeping a member happy and committed is a familiar and vexing problem, mainly because many factors related to attrition are out of the club’s control (e.g., market forces, economic conditions, disruptions from emerging trends, demographic shifts). This is why maximizing your existing resources to limit attrition and increase retention are crucial for the success of any club, whether independent or one of a large chain.
You’re probably aware of the numbers. The average health club has an annual attrition rate of 28.6%, according to IHRSA’s Profiles of Success. That’s a serious hemorrhaging of membership every year.
You’re also likely aware that retaining an existing member demands far less investment than recruiting new members. And adherence is cost effective on more than one level. Clubs with high retention rates don’t credit massive financial investment for their success, but rather find that the quality and frequency of personal interaction from employees and social media outreach are a significant factor in retaining members.