Did you know it costs up to 10 times more to win a new student than it does to keep a current one? Letting student churn get out of hand is bad for your studio, regardless of how many new students you add. While student retention takes work, there are some pretty simple things you can do to build an engaging culture and keep your existing students happy. Here are the five easiest ways you can start improving retention this month.
1. Know Your Numbers
It’s simple, you can’t manage what you can’t measure. Metric analysis identifies trends, highlights trouble areas and lets you intelligently address issues as they arise.
2. Get A Good Start
As with so many things in life, a good start at your studio matters. If first impressions are bad, or a student is too intimidated to jump into your program, chances are good you’ll lose them.
3. Provide Great Service and Make Students Feel Appreciated
You are in the service industry. Your students judge your value based on how you make them feel. Studies show we buy because of emotion, not logic. Do a great job of making your students happy and you’ll have a higher rate of retention.
4. Make it Easy to Be A Student
Students don’t want to track you down to pay their membership fees or deal with confusing processes when they are in the studio.
5. Keep Students Engaged and Motivated
When exercise is routine, boring and purposeless, people lose interest. Once that happens, you’ve lost them as a student. But if it is fun and students are making progress towards a goal, they’ll stay engaged and will want to keep renewing their membership.
Retention is a critical concern for yoga studio owners. Keeping existing students while bringing in new ones often feels like a never-ending battle. The good news is the struggle doesn’t need to be fought without a strategy. By being proactive and building a culture of engagement, you can make sure your students are happy and getting what they need. Then, by knowing your retention metrics, you can continuously monitor your overall retention trends and address any issues if they arise.