Ask any gym manager – the rush of new customers they get this time of year is a key part of their business.
But the problem is retaining seasonal health fanatics.
Gym managers aren’t alone. Think of people who have signed up to subscription meal kits in an effort to lose some Christmas kilos, or those who have signed up for a new streaming service for a sport that only screens for a season.
Think ahead to March or April. The risk of churn and decreasing customer loyalty is huge as consumers flake on new habits and become ruthless with cutting services that don’t meet their needs.
How is your organisation staying on top of customer loyalty?
Smart organisations are increasingly investing in retention or customer loyalty models – predictive statistical models that take your data points as inputs and give every single one of your customers a score that indicates how likely they are to go elsewhere.
You can even make a predictive model more powerful by integrating free and commercial external data sources.
Are you harnessing the power of the data you already have about your subscribers and customers? Are you measuring their goals and providing analytics to keep them on track?
You can’t afford to not invest in using data to retain your customers.