What is Customer Retention Worth to You?

What is Customer Retention Worth to You?

Do you know how much your customers are worth to you this year and over their lifetime? Are you on top of how much it costs you each time you lose a customer? According to IRHSA, businesses are losing 28.6% of their customers and at an average cost of $674 per annum, that can have a major impact on your bottom line.

Businesses traditionally are so busy focusing on signing up new customers, that they don’t notice their current customers exiting through the back door.

Changing with the Times. 

Customers are becoming more savvy and demanding and as a result are expecting businesses to offer them more than a one-dimensional product or service. This paradigm shift is good news for businesses within the health and wellness space as it provides the opportunity to offer your customers add-on service and product offerings.

 

Customer Retention

So what can you do to move your business forward with the Evolt 360?

  1. Keep your Customers and Employees Accountable: We are all living in a data driven world and customers now expect to see hard evidence on how they are progressing and how successful your products and services are being for them. Presenting this data in an accessible, easy to interpret format such as via the Evolt Active App is key.
  2. Motivate your Customers: Conducting an initial scan as a base line and tracking your customers progress over time through regular scans will allow your customers to see incremental changes to their body. This will allow them to celebrate each win and act as a motivator to keep them on track to achieving their goals.
  3. Offer Companion Products or Services: Customers are no longer just looking for an end result but are wanting to be offered the complete journey. This opens up the floor for any number of related products and services; from nutrition and tailored training programs to supplements and motivational offerings.
  4. Drive your Customers to Get Started via a Challenge: It’s not easy to establish a routine and that’s where challenges can help in kicking off good habits. Not only are challenges a great revenue spin but can assist in re-engaging dormant customers and attracting in new ones.  Calculate your Challenge ROI here

By continuing to acquire new customers but increasing your efforts to meet the needs of your current customers (making them more ‘sticky’ to your brand), you can ensure you stem the leakage from your bottom line.

Use the Evolt ROI calculator to see how much difference lowering customer attrition could make to your business.

You may also be interested in reading: Advancement in Body Scans beyond the bathroom scales  and What is Customer Retention Worth to You?

 

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7 REASONS EVOLT MAKES SENSE FOR YOUR FACILITY

1.

A Starting Point. Because the number one reason members quit a gym is that they don’t use it enough, Evolt gets them motivated by providing a baseline measurement of the overall fitness. This motivates them to improve and provides an easy-to-understand measurement of their progress.

2.

Better Nutrition. By using the free Evolt app, your clients can easily monitor the macronutrient breakdown that is updated with each scan. It takes the guesswork out of a nutrition plan.

3.

Easy Reporting. Through Evolt Insights, our cloud-based reporting program, trainers have easy access to member profiles, allowing them to monitor their workouts and progress. It also facilitates automated Club Challenges.

4.

Recurring Revenue. Evolt 360 actually creates a third revenue stream after membership dues and personal training fees. Do the math: If you add just $20 per month to your base membership for one scan a month, each client adds up to an additional $240 a year — $4800 a year for getting as few as 20 clients on the machine.

5.

Unique Lead Generation. You can take your Evolt 360 out of the club to special events. Think health and wellness fairs, senior centers and recreation programs! The lead generation opportunities are limited only by your staff’s imagination.

6.

Training for Trainers. We don’t just send you a box and leave you on your own. Evolt provides a proven on-boarding program for all new clients to make sure everyone understands the process and the science. Your success is our success.

7.

Backed by Science. Evolt 360 is the exact opposite of a one-size-fits-all product. Its science accounts for the unique and personalized characteristics of every individual. Just like your club should!

8.

And one more thing: Scientific literature has written time and time again that there is no such thing as a direct measure of body composition — except in a post-mortem dissection of a cadaver. Scientific validation of BIA technology has proven the use of specific algorithms that consider age and gender to improve the accuracy of body composition measurement. The Evolt 360 takes that even further by incorporating five specific personalized variables – height, weight, gender, age and impedance – to provide the most accurate body composition measurement for any individual.

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Say goodbye to scales and measuring tapes. Give your clients the ability to see real-time results from their efforts. While increasing their confidence in your service leading to higher retention rates, increased referrals and word of mouth, not to mention creating an exciting and fun culture in your gym.

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