Yes! I want to plan for long-term success & beat the odds.
Today we're talking Customer Attrition, and how it affects your fitness business revenue.
Customer Attrition is the loss of customers, and the fitness industry average rate of attrition is 1.75%.
Small differences in your attrition rate make a huge difference in Customer Lifetime Value, or the total amount of money a customer is expected to spend with your business during the lifetime of an average business relationship.
That's why we want to really focus in on keeping our clients happy and our attrition rates low. It has a huge impact on your revenue. Let's look at the math:
That's a 67% increase in revenue all because of a tiny, little 1% difference in your rate of Customer Attrition.
Nobody can argue that those numbers are compelling.
Bottom Line: stop spending time and money looking for more customers if you're not doing everything you can to retain your current customers. Keeping your clients happy really pays.
Reducing client attrition is just one piece of achieving your business goals.
Gyms open and close quickly way too often because they don't plan properly.
You don't want to be one of those gyms, so grab our hand-on strategies to keep your profits healthy even when it seems out of your control.