Wodify is a leading all-in-one fitness management platform, trusted by 5,000 of the world’s top businesses. With one of the largest & most accurate datasets in the industry, we decided to create this blog series in order to share specific metrics that are proven to drive results, insights from the most successful gyms, and how Wodify customers can track their progress.
In the last Behind the Numbers blog we announced our newest feature, custom reporting, which allows you to customize how you gather and report your business’s data. Aside from all of the reasons cited in the blog post, keeping track of data is crucial to your business’s success because it can help you nurture leads and new clients.
Why is lead and new client nurturing so important? After analyzing 14 million Wodify attendee data points, this Behind the Numbers blog reveals that new clients are 68% more liekly to cancel their membership if they haven’t been to class in 20 or more days compared to long-term clients. We want to share more of this data, explain why it’s important to know, and, most importantly, give you solutions to help prevent clients from letting their membership go.
In order to come to this data conclusion, over 14 million Wodify attendee data points were analyzed and categorized. This data revealed the following conclusions regarding how likely it is for a client to return to class:
The graph above shows the difference between the average return rates of clients with varying lengths of membership. The sharp decline of the blue line represents the rapid decline of the likelihood of return of clients in their first month the longer time goes on that they have not attended a class. In other words, we see almost an additional 20% decline in likelihood of a client in their first month to return to class every 5 days they have not attended class.
On the other hand, the graph clearly shows the less steep lines for clients that have been members for a longer period of time. For example, a client in their first month’s likelihood to return drops almost 80% from not attending class in 5 days to not attending class in 30 days. Whereas a client in their 18th month’s likelihood to return drops only 12% from not attending a class in 5 days to not attending a class in 30 days.
Maybe you’re asking yourself what exactly this is telling you as a fitness business owner. It’s telling you that the longer your client has held a membership at your business, the more likely they are to return despite not having attended class in a while. The greater the gap in attendances for newer clients, the closer you should nurture them because their liklihood to renew their membership is fragile.
The Bottom Line: NURTURE YOUR NEW CLIENTS.
This data should sound intuitive to you because this is why sources on the internet are constantly telling you to pay closer attention to newer clients. Because if you treat them the same as people who have been a clients for over a year, then you will be losing thousands in potential revenue.
Now that you have this enticing and motivating information, where do you go from here?
We hope you found these insights & advice useful for your business! Keep an eye out for more posts in this series as we continue to explore the data in Wodify.
If you aren’t using Wodify yet, you can book a free consultation here.
Want to keep learning? Check out our most recent Behind The Numbers posts: