The Ins and Outs of Membership Analytics
In this edition of The Huddle, we outline some tips and tricks for getting the most out of our latest feature, Membership Analytics. Our Monthly Recurring Revenue graph is a great tool for not only having clear visibility into the revenue you have received for a specific month, but also what that recurring revenue will look like in the months ahead. Our predictive revenue graph will help you visualize the future of your recurring revenue if you did NOTHING differently – no new members, no suspensions or cancellations, etc.
Introducing Membership Analytics by Upper Hand
Gain full visibility into your recurring revenue with insights that empower accelerated membership and bottom-line growth. With all-new membership analytics, Staff Admins can finally understand the specific factors that contribute to changes in recurring revenue. And with accurate forecasts that project recurring revenue months in advance, they can make data-backed decisions that help their business hit and exceed sales and retention goals.
How to Predict Monthly Recurring Revenue (Examples + MRR Calculator)
MRR, or Monthly Recurring Revenue, is the sum of recurring revenue that you generate month over month. Recurring revenue is income that you can expect to collect on a regular basis.
For sports and fitness businesses, MRR is an efficient way to track expected revenue brought by your memberships. For example, if you have 10 clients that each pay $30 each month for a membership, your MRR would be $300. You can count on receiving this $300 each month as long as these 10 clients remain members.
Data, Analytics, and Insights: Why Lacking All Three Is Costing You
Learn the difference between data, analytics, and insights, and more importantly, how using all three can accelerate business growth. With a foundation of solid data, you can use analytics and the resulting insights to transform and grow your business. Here we’ll dig into the differences between the three elements and how using them in combination can accelerate business growth.
Recurring Revenue 101: Growing Bottom Line Through Memberships
A large portion of fitness studios seek profit through memberships – locking a customer into a membership results in a highly sought after business asset: recurring revenue. We dive into the impact of recurring revenue and various membership types you can offer to grow bottom line.
You Asked, We Answered: Membership FAQs
In our latest edition of The Huddle, we outline the most frequently asked questions regarding memberships with Upper Hand. Why aren’t memberships automatically cancelled when they reach the commitment length? This not only gives Staff Admins the ability to lock in business for a certain amount of time, but it also gives the client the flexibility to continue their membership at a given rate. This is another way to keep steady revenue flowing into the business.
How to Improve Client Retention (Plus 9 Free Survey Templates)
Learn 3 key tips to help you improve client retention in our latest edition of The Huddle. Plus, download 9 free survey templates. First impressions can go a long way when it comes to member retention. From the moment a new member signs up, walks through your doors and interacts with your staff, they are forming their first impression.
Best Practices for Running Memberships
It is often the goal for businesses to reach a point of consistent recurring revenue, as it signals long term success and sustained profitability. Sports and fitness businesses typically gain recurring revenue through memberships. Whether you currently operate on a membership-model or are considering the benefits for the future, here are a few best practices that will help you get the most out of your membership types.
Upper Hand Named Most Popular Membership Management Software
Upper Hand announced today that it has been named a top membership management software product by Capterra, an online service that helps organizations find the right software. Upper Hand was also named a Frontrunner for membership management software by SoftwareAdvice. FrontRunners are the top software products in a category, offering the best capability and value for small businesses based on their usability and customer satisfaction. This is the second consecutive Membership Management award win for the company.
What is Gym Management Software and Why You Need It
If you operate a fitness-related business and are just getting acquainted with the world of fitness software, I hope this can serve as a great introduction. With so many options on the market, it can be difficult to choose the right software solution for your business. But first things first, what is gym management software?…