Retention Management Launches New Retention Impact Calculator on Website

CHARLOTTE, N.C., July 1 -- Retention Management announced today the addition of a new Retention calculator to its website www.retentionmanagement.com to help fitness organizations determine the financial impact of increased retention to their bottom line.

"In the course of working with a wide range of clubs, it is apparent that many facilities have never calculated the actual dollar impact of improved retention for their specific situation. Based on this feedback, we thought it was important that clubs have a tool available to them when planning" said Richard M. Ekstrom, President of Retention Management.

The new calculator on Retention Management’s website allows clubs to determine the impact of increased retention to their facility in just a few seconds. Clubs input information specific to their club, including total membership, average dues, cost to acquire a new member and desired change in retention. Then, using calculations consistent with IHRSA accepted retention formulas, clubs can easily see the increased revenue possible for their club based on information specific to them.

"The fitness industry has always known that retention was important to a club’s bottom line. We, as an industry, have been talking about ways to improve retention for years. However, the additional expense and significant time commitment necessary to implement and maintain an effective in-house retention program is a daunting task for most clubs. But the results of improved retention can do more for a club’s net profit than almost all other cost containment measures put together. It’s important for clubs to see how even a small increase in retention can make a huge impact to their bottom line, especially in an industry with such tight margins. Effective long term retention initiatives are imperative, they are an essential expenditure and offer an outstanding return on investment," said Ekstrom.

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Chris W

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