Post by thatkidfromjersey on Aug 13, 2018 20:15:49 GMT
I thought I would share a little tip that's worked well for me with regards to retaining members (since corporate doesn't seem to care to help)...
Most clubs (including my own) have generally charged a late fee/NSF fee to members whose billing is declined during the draft each month. I don't know what other clubs charge, but I have set the amount between $10 and $20.
Historically, I have seen roughly 2% of my members end up being terminated in any given month due to delinquency.
One month, I decided to eliminate the NSF fee altogether. I noticed a dramatic change. That month, I only had about 1% of my members end up terminated due to delinquency. So I decided to get rid of it permanently, and have never again seen more than 1 - 1 1/4 % monthly attrition due to delinquency. Yes, I lost a few bucks in lost fees, but made up for in 20 fold in increased member retention.
If any of you are experiencing significant attrition every month due to delinquency/declined billing, I urge you to give this a shot. And please let me know your results.
Good luck.
Most clubs (including my own) have generally charged a late fee/NSF fee to members whose billing is declined during the draft each month. I don't know what other clubs charge, but I have set the amount between $10 and $20.
Historically, I have seen roughly 2% of my members end up being terminated in any given month due to delinquency.
One month, I decided to eliminate the NSF fee altogether. I noticed a dramatic change. That month, I only had about 1% of my members end up terminated due to delinquency. So I decided to get rid of it permanently, and have never again seen more than 1 - 1 1/4 % monthly attrition due to delinquency. Yes, I lost a few bucks in lost fees, but made up for in 20 fold in increased member retention.
If any of you are experiencing significant attrition every month due to delinquency/declined billing, I urge you to give this a shot. And please let me know your results.
Good luck.
