Research-Backed Strategies to Boost Your Gym’s Revenue
If you want to own your own gym or fitness center, you’re probably trying to figure out how to bring in and keep customers. Luckily, member retention is key to the success of a fitness center, and there are things you can do to win over your customers.
To help you out, we’ve found proven strategies to boost revenue. If you have a great addition, let us know on Twitter or Facebook.
1. Focus on epic customer service
Great customer service is more important than competing on price, according to a 2010 Customer Experience Report by Harris Interactive/Right Now. By making customer satisfaction a key performance indicator, you can foster customer loyalty and increase referrals. Good customer service is also a big profit driver, as 86 percent of consumers will pay more for a better customer experience. On the flip side, bad customer service can result in significant losses, as 50 percent of consumers will stop doing business with a brand if they don’t receive a response within a week.
2. Increase gym attendance
By increasing your customer retention rate by just five percent, you can increase profits by 25 to 95 percent. Attendance and retention are linked in the fitness world, so paying attention to attendance numbers is crucial. If members stop attending, it’s important to figure out why. Encouraging front desk staff to recognize signs of disinterest and addressing complaints promptly can help. Investing in gym attendance software can also automate tracking.
3. Set the right hours
Knowing when people attend your gym can help you determine the hours and class times that work best. Peak hours are typically 6am-8am, 12pm-2pm, and 5pm-7pm, which align with "before work," "lunch break," and "after work" times. Attendance is highest on Mondays and drops gradually throughout the week until Sunday, which has the lowest attendance. Encouraging initial attendance with loyalty-building strategies can help establish attendance patterns within the first three to six months of membership.
4. Get creative with marketing
Managing a gym offers opportunities to target different niches, so instead of marketing your business in general, focus on specific ideas and get creative. For example, offer promotions like a "summer slimdown," membership anniversary specials, corporate challenges, free training days, and more. The possibilities are endless, but remember to communicate the right message with your advertising.
5. Diversify revenue streams
Having multiple profit centers can spread risk and increase revenue. Consider adding additional services or partnering with local businesses to broaden your reach. Surveying your customers and ensuring excellent sales or front desk staff who can upsell your services are crucial. Stay updated on industry trends to stay competitive.
In conclusion, implementing these research-backed strategies can help boost your gym’s revenue. Stay informed, focus on customer service, increase attendance, set the right hours, get creative with marketing, and diversify your revenue streams.
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I’m Andrew Brooks, a seasoned finance consultant from the USA and the mind behind phonenumber247.com.
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