membership management

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Tag archive for membership management

Diamonds Are Forever but Club Retention Changes Daily

Glittering Membership Management Performance Indicators If you can do things that keep and reduce change to the minimum your club might just be on the path to finding diamonds. Retention is the key concept of club management. It brings your small gym business dreams to life. That is a constant, but, unless your retention rate is one-hundred percent, it means change is the only constant. Setting Retention to Maximum If you have a limit to your membership management capacity, the longer members stick around, the less you have to invest in recruiting new ones. The difference is like that of [...]

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Lifetime Customer Value Calculation And Why It Matters

Think About What Each Customer Means To You Individually, unless you have a specialized studio that caters to an elite clientele, each customer  is just a marginal element of your monthly revenue. Not that you should ever think of them that way literally. Instead, you should look at the big picture: The total value of a customer is quantifiable, and once you’ve measured it, you can systematically improve it. Who cares about lifetime value? If you own a gym, or you manage the operations of a small gym for someone else, you need to care about such things. Customer lifetime [...]

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Finding Your Retention Rate and Why It Matters

Back To Basics Yet Again Even in this digital-first era, when it comes to operating a business, it still all boils down to the basics. By this, I mean a few specific skills and functions that we have addressed in some detail over the years, here on the Gym Insight Blog. But being basics, they never suffer for a little repetition. Of these, membership retention stands out as one of the most critical factors. Small progressive improvements can take you from a struggling small business owner, sleeping in the back office, to the top of your local marketplace. The economy and [...]

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Measuring tape, plant growing, and pennies

Measure, Improve & Grow Your Business’ Profit!

The age old adage “what gets measured gets improved” holds a lot of value for businesses. This phrase is often tossed around when you are being convinced to add a metric to your scorecard or in today's world of technology, the dashboard. The basic theory underlying this phrase is that if you can measure “x”, then you will improve the performance of your business. But the implementation of this phrase isn’t an easy task. Merely measuring a quantity doesn’t ensure that if actions are taken the performance will improve. For instance, consider how a rain gauge works. The gauge shows [...]

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