According to a survey by Run Repeat, even a 5% increase in client retention can increase your profits by 25% to 95%.
It's definitely worth taking a look into client retention strategies, right?
Greetings, fitness fanatics! Strap on your workout gloves and get ready to pump some iron (metaphorically speaking) because this article is about to spill the beans on how you can keep your clients coming back for more sweat and gains. From eccentric group classes to personalized training plans, we've got a few tricks up our sleeves to ensure that your studio does not have empty spots. So, grab a protein shake, and let's get started on retaining those clients!
First, analyze your studio’s retention rate using the reports that your fitness studio management software provides.
This is what your report should look like.
If you are unfamiliar with how to read your retention reports, read our blog on measuring your retention rate.
Let’s draw a few insights from our retention report and devise strategies based on them.
Almost 50% of the clients who join in January stay with you till the end of the year. These are the most loyal clients. The intent of clients joining in January is very high. For the growth of your business, you should (I) add more clients in January (ii) sell more to these clients
(a) Increase advertising in December
(b) Sell annual plans to them
(c) Bundle 2-3 services and sell as a package
The clients joining in the second half are lacking the motivation to keep coming back. Motivation can be instilled in two ways:
(I) Lock them up with your studio for 3 months or more. From the chart, we can see that after 3 months the retention is almost constant. This means that in 3 months, your clients will grow loyal enough to stay.
(ii) Give them reasons to keep coming back
(a) To lock them in, offer special month-long discounts. For example, July can be a special month where you can offer a discounted 3-month membership or discounted credits that will last for about 3 months.
(b) To instill motivation, create incentive programs. For example, offer rewards at milestones. You can offer discounts/merchandise/free retreats etc at the end of 3 months if they reach their goals.
There are some other strategies that you can adopt to increase the retention rate of your studio. These can be applied to all clients throughout the year.
One of the most powerful ways to retain clients is by creating a sense of community within your studio. This can be achieved by organizing social events and gatherings, such as potlucks or book clubs, that bring your clients together outside of their regular yoga classes. Additionally, you can also encourage your clients to connect with each other through social media groups or by creating a referral program that rewards clients for bringing in new members.
Another effective strategy for retaining clients is to offer unique and diverse class options. This can include different styles of yoga, such as Vinyasa, Hatha, or Kundalini, as well as different levels of classes, such as beginner, intermediate, and advanced. Additionally, you can also offer special classes, such as yoga for athletes, yoga for seniors, or yoga for pregnant women, to attract a wider range of clients.
Personalizing the experience for your clients can also be a powerful retention strategy. This can include creating personalized training plans for clients, as well as offering private or semi-private classes. Additionally, you can also offer one-on-one consultations with clients to assess their goals, needs, and preferences, and then tailor their yoga practice accordingly.
Send reminders when they’re to work out, send push notifications before the class, and check in to know if they are doing good. Also conduct motivational interviews, set realistic goals, and help them achieve them.
Providing additional wellness services can also be a powerful retention strategy. This can include offering massage therapy, acupuncture, or nutrition counseling. This can also attract new clients and retain existing clients who are looking for a comprehensive wellness experience.
Creating a welcoming and comfortable environment can also be a powerful retention strategy. This can include ensuring that the studio is clean, well-maintained, and well-equipped, as well as creating a calming and relaxing atmosphere. Additionally, you can also offer amenities such as changing rooms, lockers, and showers, as well as clean, comfortable yoga mats and props for clients to use.
Client retention is a function of planning and a great client experience. To boost client retention, you need:
Bookee understands exactly what you need to keep your clients keep coming back to your studio.
Bookee's KISSmodel of growth will help you create a 360 degree plan (strategy+execution) to take your studio's retention rate higher by unlocking:
Bookee will provide you with the Knowledge & Intent, Software, and Support along with detailed analytics for you to launch, run and grow your fitness business.
In conclusion, retaining clients is essential for the success of any yoga studio. By following the above strategies you can increase client retention and ultimately grow their business.
It's important to remember though that client retention strategies are not one-size-fits-all and each yoga studio should tailor their strategies to best fit its clients and its own unique business. It's also important to regularly review and adapt your strategies to the needs of your clients.