Hi! This is the latest Female empowered episode for you! In this week’s podcast, I talked about why retention matters for your boutique, the last pillar of the 5 pillars of marketing in my signature foundation course.
Some people might ask how retention is marketing. It is marketing because it is significantly easier to sell to a person who has already bought from us. Further, studies claim that it is 5 to 15 times less expensive to retain a client.
Why It's Less Expensive To Retain A Client
When you want to get a new client at your door, you have to attract them first. This costs money because you might spend some on advertisements, or it costs you time because you might do community events or post on social media.
You will also have to nurture that new client through the sequence that you usually do, such as discovery sessions or evaluations. That would not even guarantee that they will right away want to work with you, so expect that it could take some time. In the past, I wanted to get new clients every time, and it was exhausting!
Whereas with retention, these clients already bought from you. They already know you, like you, and trust you, so it's much easier and less expensive for you. That is why we try to embed to business owners who attend our programs that retention is super important.
It's not always about having new people for your business, it's also about keeping these people year after year after year.
Let’s talk about:
· The first pillar of marketing: a recap
· The last pillar of marketing: retention
· Why retaining a client is less expensive and important
· What happens when client acquisition or client retention is the only focus
· What I think is a good retention strategy
· What is the turn rate of your membership
· Putting a system in place for retention and when a client drops off their schedule
· Statistics on retention
· What you can do before clients might cancel their membership
· 80 percent of your revenue will come from 20 percent of your clientele
· What you can do for this 20 percent of your clientele
If you are interested in getting more ideas about attraction strategies and very specific retention strategies, I am inviting you to a free master class on September 14th, Wednesday, at 7 P.M. EST. When you attend live, you can ask questions, and we will brainstorm through them during the free master class. Visit my website christagurka.com to register!
Looking for advice and resources to help you market and grow your clinic or client-based business? Visit my website or follow me on Instagram!
Thanks for listening! If you enjoyed this episode, please leave a review for the show to help other female fitness and wellness professionals find our podcast!
Interested in being a guest on a future Female Friday episode? Email me at Christa@pilatesinthegrove.com!