RETENTION GURU'S DR PAUL BEDFORD WORKS EXCLUSIVELY WITH JUST TWELVE CLIENT EACH YEAR TO MAXIMISE RESULTS ...
WHO IS RETENTION VIP FOR? - As a small business, each year I choose to work with just 12 operators. These are referred to as my VIPs. This allows me to work closely with each business and develop insights that would not be possible if I attempted to mass-produce the work I do.
Retention VIP is for operators who require more support from me. They are often large single site clubs and multi site operators who have local, national or international businesses.
HOW DOES IT WORK? - Most working relationships begin with a piece of work based on a single club. Working on the principle that without data operators are just guessing, I provide operators with insight into how members are behaving in relationship to retention and attrition and the financial impact of that behaviour.
To do this I use recognised statistical methods that are used in many other industries and apply them to the health club market.
Once analysis has been completed I make recommendations for changes required to improve membership length. These include new strategy implementation, marketing and sales recommendations and changes to member experience and services.
Having established an average length of membership in months, it is possible to calculate how long an operator will need before they can expect to see a return on investment from the interventions and strategies implemented.
STEP 1. DATA EXTRACTION - Step one of any work is data extraction. This data can be sent as an excel file.
I will provide you with data on membership retention, attrition and longevity. In addition I can calculate hazard rates, which show the risk of quitting each month after joining and in doing so indicates where in the life of a membership the greatest risk of quitting occurs, as well as odds ratios. This method of analysis will give you information that can best be translated into action.
Once the data has been analysed an initial evaluation of the results will provide insight into the most appropriate areas to focus on, with an estimate of the revenue generated by these changes. You will receive your measures in an easy to understand graphical format, similar to the White Report, with clear explanations of what each measure is and what it means.
STEP 2. RETENTION STRATEGY - Upon completion of the data analysis I will develop a retention management strategy in line with areas that require the greatest attention. When working with multiple sites, it is appropriate to cluster them by specific problems as opposed to geographically, with action plans generated to increase retention, reduce attrition and improve customer loyalty, specific to the problem identified.
Retention management should not be viewed in isolation from other business objectives and close co-ordination with your senior management team and department heads, as well as facility managers, is required to ensure the success of such projects.
The strategy will be delivered as a step-by-step guide to changes and training required to improve retention at individual site level, as well as more general activities required to meet a minimum service standard. The strategy will be aligned with sales targets, market penetration, CRM and digital systems, customer journey, local and national health targets and programme provision.
"CALCULATE HAZARD RATES, SHOWING THE RISK OF QUITTING EACH MONTH AFTER JOINING AND THEREFORE INDICATING WHERE IN THE LIFE OF A MEMBERSHIP THE GREATEST RISK OF QUITTING OCCURS AND ODDS RATIOS"
STEP 3. TRAINING - Training can be arranged for staff to assist with the implementation of any changes recommended. This can be delivered to senior managers and cascaded down or directly with site-based staff as required. I can also provide online learning support, which includes educational videos for managers and staff in order to support the training.