How healthy is your club?
The average member’s age has risen in the last 10 years from 47 to 62, so a large proportion of committed elderly members will soon leave your club. These members have usually played regularly, required little or no incentive to renew, and many have been with you for 15 years or more.
Acquiring a new customer is about 20 times more expensive than retaining an existing one.
With a 10% improvement to your retention rate for every 100 members paying $800 you have $8,000 more every year to spend on facilities, and that is without adding in the cost of time and money of attracting new members.
As a guide 80% is good, 70% is average, 65% or below is poor and must be addressed
HOW BOOK+PLAY CAN HELP
We will provide a clear and concise monthly report like the one shown below, detailing your retention and churn rates with a historical comparison.
DO YOU KNOW EACH MONTH WHAT YOUR RETENTION RATES ARE?
By seeing your retention rate each month you can make informed business decisions based on facts and figures, and not waste valuable time waiting to the end of a financial year to check your membership status.
DO YOU KNOW EACH MONTH WHAT YOUR RETENTION RATES ARE FOR NEWER MEMBERS?
New members are much less committed to your club so you need to be aware of their retention rate, as you will see a much greater “churn” than with your committed long term members.
IN ORDER TO IMPROVE YOUR RETENTION RATES YOU NEED TO ENGAGE WITH YOUR MEMBERS
Members who do not play regularly are statistically much more likely to lapse and will have a negative impact on your retention and churn rates.