Why you should work on customer retention

Did you notice a recent drop in the number of participants in your classes? Has yet another customer cancelled his membership this month? Do you have the feeling you could have done something different, but you do not quite know how?
If this sounds familiar, you are in the right place.

What exactly are retaining customers?

With the Eversports Manager, we want to provide you with all the tools to better identifying your customers' behaviours, take the right actions and make sure that they come back more regularly - that they retain.

Retaining customers are those that come back regularly to your studio and with whom you have built a long-lasting relationship and who ultimately represent a solid source of income. For all these reasons, you should pay special attention to them.

Why should I work on retention?

Our guess is you have never thought something like “I don’t mind losing most of my new customers”, right?
Despite how foolish this might sound, this is already happening to most of the venues that do not retain their customer base:

On average, only 1 out of 10 new customers comes back to your venue after one year. This means that you lose 9 out of 10 new customers during the first year.
Research shows that if you are able to keep your regular customers coming back, you will boost your long-term profits by 25% up to 95%.
Focusing on keeping existing customers as opposed to acquiring new customers has proven to be 3 times more cost-effective.

If you are able to build a community of regular customers, you will be performing better than other providers who do not work on their retention actively. As a direct consequence, if you as a venue owner understand the needs of your customers and are able to meet (let alone exceed) their expectations, customers are more likely to retain. Additionally, chances will be higher that they refer you to new members and engage on a deeper level in the community you are building.

In a nutshell, actively working on retention can be the key to happy clients, sustainable growth, and to higher financial stability.

How can I work on retention?

There is a multitude of possibilities to work actively on retention both within and outside of the Eversports Manager. In the articles below, we want to offer you insights on how to use the software tools, and broaden your knowledge on retention for a longer-lasting effect.

You might find a lot of approaches based on common sense, nevertheless, you will benefit from thinking them through once again. You will learn the importance of empathizing with your customers and looking at their interactions with your venue and employees. The better you understand your customers, the better you can support them in achieving their goals and make sure that they come back for more.

In the following articles, we will dive deeper into the customer journey showing tips and opportunities to work on. Continue reading here: