New Year’s resolutions often center on finances and health, which makes this a perfect time of year for your gym to connect with people making these types of resolutions. It’s obvious how a gym or health club fits with health and wellness goals, but how can it tap into financial ones?
The connection is through the collection of outstanding debts. Your gym can focus on recouping lost money through your marketing and communication efforts. Let’s take a look at the two areas to focus your efforts on this in January 2023.
Maximize Financial Resolutions
One area many people focus on is finances. They want to clean up their books and make their financial picture look better going into the new year.
If your gym has members who have failed to pay their dues, this is the perfect time to focus on those old accounts. Not only can it help these members clean up their finances, but this step can help your gym tie up loose ends regarding unaccounted-for money.
People who neglected their dues or debts during the busy holiday months may be ready and eager to clear up these financial issues now. It’s best for your gym to reach out to people within the first three months of non-payment, and then you can consider sending the debt to third-party collections like Aldous & Associates after that.
At Aldous & Associates, we like to send out extra communication at the beginning of each year. Think of it as our own New Year’s resolution. This communication is used to remind people of the debt in our office. We can report debts on credit, and we find that people often check their credit report and pay off all debts on it in January.
Tap into Health Resolutions
Since you have a gym business, you know that many resolutions focus on health and fitness, whether the goal is to lose weight, look better, improve wellness or another related resolution. These desires to be healthier or fitter provide another opportunity to capitalize on money that is owed to your gym.
How does that work? You may find that previous members who became delinquent on their payments are now interested in returning to the gym, as they’re once again focusing on New Year’s resolutions. Since they already have a connection with your gym, they may be interested in returning instead of switching to a new gym. However, these previous members may wonder whether they are welcome to return and may avoid the gym despite a desire to return. This is where your gym can extend an olive branch and help them come back.
While it may seem surprising, the collections process is an excellent time to reconnect with delinquent members and retain them. Your gym could reach out to these members and let them know that they are more than welcome to return to your gym as soon as they catch up with the delinquent payments.
At Aldous & Associates, we always encourage gyms to take the payment directly if a member reaches out, even if we have contacted the person about collections. This is because your gym will have a better chance of recouping the money on the spot and because you can turn the moment into an opportunity to rebuild the connection. You may retain a member, or, at the very least, you can create a positive experience that leaves a good impression of your gym.