As a gym or studio owner, retaining members is crucial for the success and growth of your business. In fact, on average, you will lose about 30% of your members every year. That means that if you have 500 members today, 150 of them will be gone by this time next year.
It is far more cost-effective to retain members than trying to attract new ones. In fact, acquiring a new customer costs five times more than retaining an existing one.
With ABC Glofox’s new AI-powered “At Risk” report, you now have a powerful tool at your disposal to help decrease member churn and increase retention. This innovative feature leverages advanced machine learning algorithms to provide actionable insights into member behavior, enabling you to take proactive measures to keep your members engaged and loyal.
Cutting-Edge Member Insights
This feature is designed to highlight members at risk of churning by adding a new tab to the member overview report. By utilizing 16+ data points and data from over 41 million people globally, our bespoke machine learning algorithm accurately classifies the risk of churn for each member into low, medium, or high risk. Here’s what one of our customers had to say about churn and the Glofox AI churn tool;
“We utilize this report weekly to follow up with high churn members. We love it!”
Trey Moser, Body Blueprint
As our algorithm continues to learn based on data collected, the output of our predictions will continue to improve and offer more insight into member behavior.
Key Benefits of Predicting Member Churn Early
Using the “At Risk” report provides several significant advantages for your gym or studio:
Identify Trends: Understanding the behavior patterns and trends that lead to member churn allows you to be proactive. By spotting these trends early, you can intervene before members decide to leave.
Engage At-Risk Members: With insights into which members are at risk, you can build and implement targeted communications. Personalized engagement strategies can help address the specific needs and concerns of these members, encouraging them to stay longer.
Increase Retention with Less Manual Effort: The automated analysis provided by the AI-powered report reduces the manual effort required to track and manage member retention. This efficiency frees up your staff to focus on creating an exceptional member experience.
Boost Your Reviews and Referrals: highlight the members that are at the lowest chance of churn, meaning they’re engaged and active within your community. You can then reach out to them to ask for reviews, promote referrals, or success stories to post on your social media.
Features You’ll Love
The “At Risk” report is currently available to all Boost and Elite customers in the United States and comes packed with features designed to enhance your analysis and retention strategies:
Downloadable Charts and Tables: Easily export data for offline analysis and presentations.
Flexible Filtering: Customize the report to focus on specific member segments or risk factors.
Additional Data Columns: Add more data points for a deeper and more comprehensive analysis.
What’s Next
We are continually working to improve and expand our features. In future releases, we plan to connect the “At Risk” report with our audiences feature, which will allow users to create a new audience segment for targeting. This direct connection will automate and streamline your efforts to keep members engaged and reduce churn even further.
Additionally, we plan to roll out this feature in additional regions beginning in the second half of 2024.
Take Action Today
The ability to predict member churn early with ABC Glofox’s AI-powered “At Risk” report is a game-changer for gym owners. By leveraging this advanced solution, you can identify at-risk members, deploy targeted retention strategies, and ultimately enhance member satisfaction and loyalty. Start using the “At Risk” report today and take proactive steps to ensure the long-term success of your gym.
For more information and a detailed walkthrough of this feature, check out our knowledge base article here.
Not Part of the Future of Fitness Yet?
ABC Glofox is a management and booking platform that is specifically designed for fitness businesses to sustainably scale while boosting their revenue and member engagement.
If you’re looking to grow your revenue and grow an engaged, inspired community, speak with our team today.
