Revenue management is critical to any organization. The right solution for your business can deliver significant advantages, making your life easier and delivering an outstanding member experience.
From onboarding and managing members to retaining and maximizing customer revenue, here are key features to keep in mind when considering the ideal option for your business:
1. Put the spotlight on members
With the right revenue management tool for your business, your team can focus on running a gym, rather than getting caught up with administration like processing declined accounts at the front desk.
This type of solution means members can contact the billing provider directly, freeing up personnel so they can focus on your members and provide them with the best customer experience possible.
2. A seamless solution
It’s all about making life easy for your members and you. A comprehensive revenue management solution can sync billing information automatically — improving accuracy and reducing personnel involvement, all with the highest level of security.
This seamless approach makes it easy for your members to join and renew, positively impacting revenue management.
3. Innovative client experiences
Delivering innovative, personalized member experiences is a fundamental aspect to an effective revenue management solution, particularly given its positive impact on retention.
In today’s increasingly digital environment, this may be in the form of a mobile app allowing members to manage their own membership, check schedules, make payments and book classes.
4. Comprehensive reporting
A full suite of valuable reports, both standard and tailored, provides important insights into your accounts, enabling you to make informed business decisions.
This is fundamental to an efficient revenue management solution and is all about having accurate reports you can rely on at your fingertips.
5. Communicate, communicate, communicate
Either individually or reaching all members, a thorough revenue management solution enables you to engage easily and effectively with your members. It also allows communications to be customized and clear connections to be made with follow-up activities tracked for ease of use.
When it comes to evaluating the right revenue management solution, it’s important to ensure these aspects are covered to make your business life easier, so you can focus on what’s most important — your members.
Ken Heineman is the vice president of sales — USA for TSG. He can be reached at 855.202.2932 or ken.h@transactionservices.global
