Whether your studio is located in a bustling urban center or a small suburb, students always have other options when it comes to taking fitness classes. They can leave you for one of your industry competitors; they can switch to a different type of fitness class altogether; or they could go the home workout route with programs like Daily Burn or P90X.
If you own or run a fitness studio, you may be wondering: What can I do to prevent my students from ditching me for another fitness option? There are a number of answers to this question, but one strategy many businesses have used to keep customers coming back on a regular basis is to implement a loyalty rewards program.
The Case for Loyalty Programs
A recent study* showed that there are more than 2.6 billion loyalty program memberships in the U.S. with the average U.S. household active in 6.6 programs. The same study also showed that loyalty program members not only spend more when they visit a business, but they also visit about 20% more often than non-members.
These stats are pretty compelling. Loyalty programs work, and they can work for your fitness studio, too!
How to Structure Your Loyalty Program
Essentially, a loyalty program works on a point system. For every number of classes taken, dollars spent on retail, or people referred to your studio, you give students points that they can use to redeem toward freebies or discounts.
There are no hard and fast rules about how to structure your points system. The important thing is to strike a balance between what will appeal to your students and what is financially viable for your studio.
Rewards fall into two categories: monetary and non-monetary. Monetary rewards can include:
- Class discounts.
- Free and discounted retail items.
- Free use of premium services or equipment.
Non-monetary rewards can include:
- Early signups for new classes or workshops.
- One-on-one consultations with a staff member.
- Invites to VIP events at your studio.
The Bottom Line
Regardless of how you structure your loyalty program and what types of benefits it offers, the goal should be to make students feel valued and rewarded for their continued attendance. The more perks they get from your program, the more dedicated they’ll be to sticking with your studio.
*Source: COLLOQUY Research
About the AuthorFollow on Twitter More Content by Ashley Taylor Anderson