Retention – How do I improve it?
Improving the retention of a Health and Fitness business is something that every single business owner wants to improve. It is probably the most common enquiry that we deal with so we though that we would break down what retention is all about…
So what actually is retention? Well if you strip it down, retention is based on the longevity of customers or members paying for your product or service.
Now let’s focus on our membership base. You need to understand one simple thing. Every single one of your members will stop paying you for your product or service at some point in their life for one reason or another, it’s inevitable. So retention for you is to increase the longevity of every member paying you for your service. Whether that is one additional purchase, one more month, one more year or even 10 more years, this is your retention-based goal.
Sounds easy… So how do you do it?
Well, you could invest in the latest bit of digital technology that is ‘guaranteed to increase your member retention’. And it might, for a while. This bit of technology may well be fantastic and your membership base may love it… but what happens if the business down the road also looks into this fantastic digital technology or even a newer and better bit of tech that will improve their retention? Will any of your members leave? Yes they will. Everyone is always looking for the next best thing and that includes your membership base. To them, that business down the road may interest them and they may well leave you and head over there. Why wouldn’t they?
Now if you are reading this and thinking, actually I don’t think my members would leave (and we hope you’re right), ask yourself; why wouldn’t they? The answer won’t be this tech that you have invested in to help your retention. The real answer will be your people!
The people who work for you will be the real reason your members continue to pay you month by month for your services. Because there is one thing that the business down the road does not have, and if you invest wisely, will not have. That is your Personal Trainers that deliver awesome sessions, your Fitness Instructors that make everyone on the gym floor feel at home, your Receptionist who knows all of your members by name, your Café Assistant who makes time for a chat whilst making coffee or even your cleaner who has bumped into the same members day after day in the changing room and gives them that warming smile!
Your people are the biggest and best retention tool out there and they will be the tool to increase the longevity of your membership base day after day, month after month, year after year! So, if you’re looking at investing in ‘something’ to improve your retention, maybe ‘someone’ will be a better option.
