With 2021 being one of the most successful years in membership growth in decades (maybe in forever, actually), here’s a quick rundown of the benefits you’ll see from implementing retention strategies for your Membership in 2022:
- A five percent increase in retention rate will increase profits by 25-95 percent, according to Harvard.
- Builds brand awareness and reputation by word-of-mouth advertising from your loyal Members.
- Gives you the opportunity to build constructive relationships with your Members.
- Allows you to identify and fix flaws by receiving feedback and listening to your Members’ needs.
- Loyal Members are more willing to try or experiment with your new programs, services and products. Six times more likely, according to studies.
- Your Members are more willing to be forgiving of mistakes if they feel loyal to you, which means fewer of those fly-off-the-handle angry Members (we all know the one we're talking about).
Let's continue the momentum from last year, and take advantage of the recent influx of interest and excitement from new Members at your club, to continue to build toward your wait-list and increase those initiation fees. Contact us to setup a time to discuss how Private Club Marketing can assist you to streamline your marketing and member communication efforts, so you can continue to focus on referrals and retention.