Generate More Revenue and Calculate Churn with Walla’s Plan Retention Report

Understanding client purchasing and booking behavior at your studio heavily influences your plan and pricing strategies. It also impacts how you upsell, when you communicate with members, and what offers generate the most revenue while boosting retention. Getting an overview of these aspects of your fitness business without spending time digging for the details is a game changer, so that’s why we built and are releasing Walla’s all-new Plan Retention Report! 

This report is the answer to all the questions studio owners like you want and need to know, like: 

• How long do your clients stay for? 
• How much do they generate in revenue over that time? 

The Plan Retention Report gives insight into what to charge and real-time information into how to structure introductory offers—allowing you to proactively nurture clients as you accurately facilitate a long-term relationship for them with your studio. Hello, retention and revenue! Plus, our built-in reporting and analytics are visually appealing and easy to understand, eliminating the guesswork and the need for outside third-party business intelligence tools. Just filter by plan and time frame and instantly see your moneymakers and what can be optimized to help you reduce churn and determine a client's lifetime value.

Here’s why utilizing the Plan Retention Report can significantly impact your bottom line while helping you succeed in your studio goals: 

It’s time to generate more revenue

Profitable membership plans directly contribute to the revenue of your fitness studio. By identifying and offering plans that attract more members and generate higher revenue, you can enhance your financial stability and growth potential, giving your studio an additional cash influx to help you expand—whether it’s new equipment, new instructors, or a new location!

A better understanding of resource allocation 

Different membership plans may require varying levels of resources, such as staff time, equipment usage, and space availability. And seeing exactly what plans are worth these resources is part of a successful studio strategy. Knowing which plans are profitable allows you to allocate resources effectively and efficiently, optimizing your studio's operations.

Accurately market and promote plans that work 

Profitable membership plans can be promoted more effectively in your marketing efforts. Understanding which plans appeal to your target audience allows you to tailor your advertising strategies to attract more potential members and convert them into paying customers. The data from the Plan Retention Report also enables you to leverage and segment clients via marketing campaigns and automations with the right message at the right time, helping you authentically sell more profitable plans. 

Tap into retention strategies

Specific membership plans lead to higher member retention rates. By identifying these plans with Walla’s report, you can focus on providing exceptional service and value to members likely to stay longer, reducing churn and increasing customer loyalty.

Gain useful customer insights

Analyzing the profitability of different plans can provide insights into your members’ preferences and behaviors. This information can guide you in developing new plans, classes, or services that align with what your customers are looking for and influence how you communicate and sell those studio experiences with data-driven content. 

Gain the competitive advantage

Leaning into membership plans that prove profitable and are both unique or more appealing than your competitors can give your fitness studio a competitive edge, helping you attract clients with enticing offers.

Informed long-term planning

Studying studio trends and understanding the profitability of different plans via the Plan Retention Report allows you to make informed decisions about your fitness business's long-term growth and development. You can plan for investments, expansion, and other strategic moves based on the revenue generated from these plans.

Accurately adjust pricing strategies

One of our favorite parts of this new plan? Giving you insight into plan pricing! If you find and see that specific membership plans are consistently more profitable in a clean, clear format, your studio is now empowered to adjust your pricing strategy accordingly. And this might involve increasing prices for high-demand plans or introducing discounts for plans with untapped potential.

Informed cost management

Analyzing the profitability of membership plans can also shed light on the costs associated with each plan at your studio. By looking at the data, you can identify areas where cost-saving measures can be implemented without compromising the quality of service.

With Walla’s Plan Retention Report, understanding which membership plans are profitable at your fitness studio is essential for making informed decisions about resource allocation, marketing strategies, customer retention, and overall business growth. It enables you to create a balanced and successful business model that benefits both your clients and your bottom line.