You work hard to get new clients–but once you have them, how do you keep them? You could talk to each of your customers and find out what they want, but an easier way to tell if you have loyal customers is to look at your key performance indicators (KPIs).
Here are our top five ways to leverage your KPIs and other data to bring your clients back:
Know your numbers so you can offer perks and rewards
Have your financials in order so you can get funding for new equipment
Train your staff well
Know what your customers like and invest to give them more of it
Use your MINDBODY reports
Do you know how much it costs to acquire a new customer? How about the lifetime value of a customer? Knowing metrics like these can help you create a rewards program or even define the value of extra perks you can offer to your customers. But if you’re taking too big of a loss, it won’t be a sustainable way to build a customer base. Talk to your bookkeeper or financial advisor to find out the amount you can spend on rewards while still maintaining your bottom line.
Investing in your equipment is a great way to keep clients coming around. But how often should you update your space? What makes financial sense? And if you do decide to update, can you do it with cash on hand, or will you need a loan? Once you have a clear idea of how often you can afford to update, you can clearly communicate that to your customers so they know when to expect changes.
One of the things that keeps customers coming back is having a connection with your staff. Encourage your employees and staff to address people by name whenever they can. Have them take the time to get know people when they come in, and most importantly, have them ask questions about their expectations. The information your staff shares will give you a clear picture of what’s going on in your business.
Dig into your financials and find out what’s bringing in money, and what might potentially be losing money. Understanding the numbers will make it clear what you’re doing right and what you can stop doing altogether.
MINDBODY can tell you when a client last came in, and you can use that to offer them incentives to come back. At some point, almost all your clients are going to hit a slump. By extending an offer, you’re one step closer to motivating them to come back when they need it most.
As you implement these programs and practices, be sure to check your KPIs to see if they’re working. Be sure you know what programs are creating improvements in your retention percentages. This way you can allocate additional resources to what’s working, and stop what isn’t before it costs you too much money.