4 Ways to Increase Yogi Retention in Your Studio
So you created a killer intro package and had tons of new yogis come through your doors. They gushed about the classes, adored the teachers, and recommended your studio to your friends.
While this is a fantastic achievement, getting new members to sign up for the first month is only one step to building long-term success. All your hard work will only be worthwhile if they renew their membership and continue to return month after month.
Getting new students into the studio is largely down to good marketing. However, it will take a lot more to ensure they stay. So if you're wondering what to do to ensure your new yogis keep coming back, read on. We'll discuss just how vital retaining students is and four ways you can increase your retention rate and, thus, your profits.
Why Member Retention is so Important For Yoga Studios
Having a great marketing campaign that brings regular new members is excellent, but the work continues beyond there. The longer a student remains a member of your studio, the more money you will make long-term. In fact, according to Invesp, It costs five times more to acquire a new yogi than to retain an existing member.
This is primarily due to the high marketing fees around getting new leads and the often meager trial membership price. However, once a yogi is in and fully committed, marketing strategies are no longer required, and you can get them onto a higher-priced membership.
Another reason you should focus more on retention is that it is much easier to sell to an existing member than to a new customer. In fact, the probability of selling to a current member of your studio is 60-70%. In contrast, when selling to someone who has never heard of you or your studio, that percentage drops to 5-20%.
By making an effort to increase your yogi's experience and satisfaction, you'll enjoy long-term relationships.
4 Ways to Increase Your Member Retention Rate
So now you know just how essential it is to turn your new yogis into loyal, long-term members, let's discuss how to do it.
Connect with new members
People don't just join a yoga studio because they love yoga; they join because they seek community. Thus, if they turn up for class and no one bothers to speak to them or check in with them, we can safely say they probably won't return.
However, imagine your new yogi arrives and is greeted warmly by the teacher or receptionist who asks questions, shows them around, and explains where everything is. In this case, your new yogi will have a great first impression.
Then after a fabulous class, the teacher checks in with them to see how they found the session and ensures they have the updated timetable. By now, your new yogi feels utterly cared for and nurtured and will naturally want to return.
So, ensure everyone who steps through your door receives a warm welcome and individual attention, making them feel like their presence is valued.
As the studio owner, it's up to you to decide whose responsibility this is. For example, it is often the teacher's job in small studios. However, this may be part of the receptionist's role in larger studios. Alternatively, if you're a hands-on owner who is often at the studio, why not connect with new members yourself?
What's more, ensure they receive this attention every time they come. If your student feels they are building a relationship with you, they won't even have to consider renewing; they will just do it.
Offer member-only events
People love special events and unique offerings as they feel they are getting something extra. So mix your timetable up by offering workshops, masterclasses, or other events. I recommend making these member-only events as this will make your yogis feel like they are part of a "special" club, and thus, they won't want to leave that inner circle.
Member-only events also create an incentive for yogis to choose a membership rather than pay for drop-in classes. You can include these offerings in your trial package to give your new yogis a taste of what they can experience if they renew.
I suggest including a mix of educational events like workshops and masterclasses to help your yogis level up their practice, along with some more fun events. Although controversial, things like "wine yoga evenings" can be an excellent way for your yogis to get to know each other and build a community feeling within your studio.
Ask for feedback
Sometimes the best way to know if you're doing things right is to ask. Member feedback can be instrumental as you learn what to stop or start doing. Send a feedback survey to everyone on the trial package and to all members every few months.
You can also have a suggestion box at reception, so members can share their ideas. Asking for feedback is more than just super helpful in building a successful studio. It also shows your yogis that you care and genuinely want to make their experience as enjoyable as possible.
Partner with other businesses to offer discounts
As mentioned earlier, people love to feel that they are getting extra value for no additional cost. Another way to cultivate this feeling among your yogis is to offer member-only discounts at other local businesses.
This is also an excellent way to build relationships with other businesses and work together. You send them new customers, and they do the same, making it a win-win situation.
Make a list of local businesses that relate to your offering and ones you think your target audience either already uses or would like to use. For example, spas, massage shops, and crystal stores are popular choices, as are vegetarian cafes and health-food stores. Try to partner with two or three local businesses.
Final Thoughts on Increasing Yogi Retention in Your Studio
Client retention is one of the most critical factors in your yoga business. By making an effort to increase your yogi's experience and satisfaction, you'll enjoy long-term relationships. This is not just good for you and your profits; the longer a student stays with you, the more they will progress in their practice.