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Retention Strategies for the New Year
It's a new year and for most people that means new beginnings, new endeavors and of course new resolutions. However, for the fitness and wellness industry, this also means that there are crazy discounts being shelled out by your competition on the daily, which may pull your most valued members away from your services. With the Omicron variant causing issues for physical locations, and tons of new options for virtual and at home wellness, retaining the members you have is more critical than ever.
What can you do? You can always reduce rates too, offer your members that want to leave a better deal, add bonus incentives (free classes, access to special areas, free products, etc.) but is that enough? We always think about gaining new members this time of year, which, don't get me wrong, is very important (and we can help there too 😊) but retention strategies right now can pay huge dividends and there are some easy, no cost things your wellness company, whether you are a fitness club, app, product, or service, can do to hang on to as many members as possible.
For starters, you can join the Achiaro Wellness Loyalty Reward platform [at no cost, might we add!] and be better prepared to keep your members happy and committed to your brand throughout the discount onslaught and beyond!
How do loyalty rewards improve retention?
Offering loyalty rewards you make your brand the 'hub' of your current members' entire wellness strategy and the seller of all of their wellness needs. With access to loyalty rewards that are tied to their membership with you, members can supplement your amazing services without the need to drop your brand as their "go to" provider. Your members have no need to look elsewhere and every reason to stay.
Consumers today are under constant bombardment with in your face ads determined to get people to "make a switch" from you to them. Achiaro gives your members the option to ADD more non - public services to their existing membership, instead of simply switching to something else entirely.
Providers on Achiaro also maximize their value to both potential and existing members by offering 100% exclusive, customized, deals on services you don't offer or in locations you don't serve as a reward for being your loyal members. These special loyalty rates are set to terminate if or whenever they cancel your membership, thus guaranteeing retention and removing any incentive to leave or reduce your services. This way, you both get to win!
Easily go from potentially losing a consumer and their recurring revenue stream to retaining them AND earning a new recurring revenue stream as an added bonus... That's right, earn some extra money off of everything sold from your loyalty page. As a part of this program, Achiaro partners get a revenue share on every membership sold!
Improve your overall offering to both current and new members by giving them options that can ONLY be found through our Loyalty Program and nowhere else. Why? Our partners offer the best incentives because they are meant to supplement what they already do with you, not replace it! Loyalty Memberships are customized, non-public memberships only found on Achiaro.
How does it work? You create and promote your own unique loyalty memberships to millions of active wellness enthusiasts. On the flip side, your members get access to amazing rewards via Achiaro.com.
What else does the Achiaro Loyalty platform do?
Retention is just a one of the many advantages to joining the Achiaro Rewards family. Check out some of the other benefits below!
- Recurring Revenue and Memberships: Acquire new dedicated members and generate predictable recurring revenue.
- Increased ROAS: Increase ROAS with our no cost to join, lowest performance based rates anywhere.
- Passive Revenue: Generate additional, recurring revenue from the platform outside of your loyalty sales
- Game Changing Data: Get mind bending insights on member interests, where they are coming from and how you stack up to the market.
- Alternative Marketing: Diversify your marketing strategy and become less reliant on costly, underperforming platforms and strategies.
- Enhanced Marketing: Reach millions of wellness enthusiasts, target them by what they do and spend, and convert them with personalized offers.
- Brand Protection: Never cannibalize your income or members, undersell your services or miss out on a chance to maximize revenues.
- Collaboration + Loyalty: Provide holistic, goal oriented, routine based, healthy wellness for members AND deliver more revenue and better retention to the industry and Achiaro partners.