How can you increase Member Lifetime Value?
Improving your Member Lifetime Value can have a dramatic impact throughout your club. Easalytics provides powerful data insights that will improve your decision-making and retention strategy.
Personalize your outreach.
Your average revenue-per-member and lifetime value numbers have remained fairly flat.
Easalytics can identify segments of members with below average monthly spend and you can tailor messaging or offers that would appeal to that segment.
Alternatively, individual members who have not spent in individual profit centers can be identified and targeted with personalized purchase incentives, and cohort tracking can help you track and compare the effectiveness of various offers.
Sell more services.
Personal Training is a major lifetime value booster but you’ve struggled to significantly increase your penetration rate.
Using AI to predict consumer purchase probability is common in many industries, and Easalytics has brought it to fitness clubs for predicting a member’s likelihood to purchase Personal Training.
Identify likely buyers who have slipped through the sales cracks and present your value proposition at the time they are most likely to buy. You can decrease the need for discounts and free sessions too, as these buyers often don’t require them.
Increase member spending.
It’s difficult to get some members to spend more.
Some members and member segments are already spending well above average.
In fact, in many cases their ancillary spend easily exceeds their dues payments. Keeping those members even just a month or two longer adds significantly to your bottom line. Easalytics can identify those members and the best time to target them with engagement, attractive offers, or rewards to extend duration, and you can feel confident there will be strong ROI.
Learn what works and replicate.
Monitoring member spend patterns across all your profit centers is too time-consuming, making it difficult to be proactive in capitalizing on emerging trends.
Easalytics SmartSights automatically monitors member spend patterns across all your profit centers, highlighting new trends, spikes, or anomalies.
If smoothie sales start spiking in one location, you can find out what’s different there and replicate it in your other locations. If Personal Training revenue starts to decline only among females age 55+ in a specific location, you’ll have a good idea where and what kind of action needs to be taken.