TIMP statistics: the cancellation rate at your site

At TIMP we return, once again, to explain one of those metrics to improve the profitability of your business and that you can consult in your control panel.

This is the “cancellation fee“.
Do you want to know what it consists of?

When we talk about cancellation rate we are referring to the percentage of clients who do not renew their quota at the center.

For example, if a customer who has paid a monthly payment does not renew the following month, we are talking about a cancellation.
Therefore the percentage of all customers in this situation is the cancellation rate of your center.

This is a fact that you should take into account, because it indicates that perhaps something is not working as well as it could in your business.
After all, you want your customers to come back, and if your cancellation rate is high, you must get to work to change this situation, because it means that many of them may leave for good.

There are a number of things you can do to reduce your churn rate.
If you succeed, it will mean that your customers stay longer with you.

You will have increased your retention rate.

Find out in your control panel who are those users who have not renewed their quota.
They are those who do not renew through the “autopurchases” and communicate it before next month.

This is the first step to be able to do something about it.

Now that you know who they are, try to get in touch with them to find out why they have decided not to renew their quota.

Is it because of price dissatisfaction?
Is it because of a particular situation?
Is it because of a change in the schedule of activities?

Knowing this information will be very useful not only to recover these customers, but also to detect possible areas for improvement in your business .

With this information in hand, you can now devise solutions or alternatives to offer to each of them, so that they will consider returning to your center and finally renewing their previous quota.

It is also possible that the problem in their case is precisely the fee they were paying: maybe their personal situation has changed and they now need a different fee, perhaps more economical or with a lower number of sessions.
Only if you know their case first hand will you be able to give them the possibility to come back with one more adjusted to their new needs.

As you know, it is always easier to keep a client than to gain a new one.
Take advantage of the fact that they have already had a relationship with the center and contact that person to be concerned about their situation and offer them a mutually advantageous solution.

And remember that the ideal is to build customer loyalty, that is, that they are always so comfortable with you that they never think of leaving.
This means anticipating any situation.
To do this, take a regular interest in their opinion of the center and make sure that they lack nothing.

Ultimately, high loyalty will result in a low cancellation rate.