Membership Report - CHURN
What's your churn rate for memberships?
How many have renewed? How many still have time to renew? Run this report to check for membership churn rates by as little as one month or as many years as you want, for a selection or all of your membership types.
How to run the report
First, log in to Vital Statistics, and then navigate to the "Reports List" page, and select the report called "Membership Churn".
You can now choose the amount of time that you want to look at memberships churn rates for, and for which kinds of memberships in particular. In this example, we are looking at churn rates for 1 year - September 2016 to September 2017, and we are looking at ALL membership types.
The report will open up. It is more than just one page - use the navigation arrows to go through the full report. You can use the "export" function to export the report in a variety of formats to share with colleagues.
Now, to read and interpret the report. The first page covers all data, and then there are subsequent pages for each of the membership types selected.
How to read and interpret the report
Here are the list of columns, what they mean, and how you can use them.
| COLUMN | ||
| Month |
Which month the figures are for. | |
| Opening Balance | The total number of customers who had an active selected membership when the month started. |
|
| Totals: New | The total number of customers who took out a membership of the selected type for the first time in the month. |
A customer has a ‘new’ membership if they have not had this same membership within the last 4 months. i.e. if their membership starts on the 15th June 2017 they can only be a ‘New’ customer if they have either: 1. never had this membership before or; 2. they have had this membership before but the expiry date was more than 4 months ago (i.e. later than 16th Feb 2017) |
| Totals: To Renew | The total number of customers who have the selected membership which is due to expire in the month. |
i.e. on page 2 of the example report, 2398 members on the “Theatre Card - Standard” membership type are due to renew in September 2017. |
| Renewals: Early | The total number of customers whose membership expires in the month and who renewed between 1 – 4 months before expiry month. |
A customer will renew their membership early if they renew it between 1 and 4 months before the expiry of the existing membership. E.g. if their membership is due to expire on the 15th June 2017 they will be classed as an ‘early renewal’ if they have bought a membership on the same level where the start date is between 15th Feb 2017 and 14th May 2017. The % figure is the number of early Renewals displayed as a percentage of all the customers who had a membership due for renewal in that month. |
| Renewals: On Time | The total number of customers whose membership expires in the month and who renewed ‘On-Time’ i.e. they renewed within 1 month of their actual expiry date up to 1 month after the expiry date. |
A customer will renew their membership ‘on-time’ if they renew between 1 month before and 1 month after their membership expires. e.g. if their current membership expires on 15th June 2017 they will renew on time if they buy another membership of the same level between 15th May 2017 and 14th July 2017. The % figure is the number of On Time Renewals displayed as a percentage of all the customers who had a membership due for renewal in that month. |
| Renewals: Late | The total number of customers whose membership expires in the month and who renewed between 1 and 4 months after expiry. |
Late renewals will be counted where a customer’s membership expires in the month and they buy another membership of the same type between 1 and 4 months after the expiry date of their current membership. E.g. if a customer’s membership expires on the 15th June 2017, they will be a late renewal if they buy another membership on the same level where the start date of the new membership is between 15th July 2017 and 14th October 2017. The % figure is the number of late Renewals displayed as a percentage of all the customers who had a membership due for renewal in that month |
| Renewals: Total Renewals | The total number of customers whose membership expires in the month and who renewed Early, On-Time or Late. |
The Total renewals column displays the total number of customers who have been counted as an Early, On-Time or Late renewer. The % figure is the number of late Renewals displayed as a percentage of all the customers who had a membership due for renewal in that month |
| Churn: Still To Renew | The total number of customers who have not yet renewed their membership but who could become a ‘Late’ renewal. |
The Still To Renew columns tells us how many customers have not yet lapsed. I.e. if they renewed today they would be counted as either an On Time or Late renewer. As soon as four months from the date of their expiry passes they will move from Still To Renew to Lapsed. |
| Churn: Total Lapsed To Date | The total number of customers who did not renew their membership within 4 months of the expiry date of their membership. |
The Total Lapsed to Date column tells us how many customers did not renew their membership (at the same level) within 4 months of the expiry date of their current membership. |
|
Net Movement: Closing Balance |
The total number of customers who had an active membership at the end of the month. |
At the end of the month, this totals how many customer had an active membership of the type selected by the filters. |
| Net Movement: Mvmt |
The difference between the Closing month balance and the Opening month balance – provides an indication of whether the month saw a net loss or gain of members. |
This details the difference between the opening and closing balance of the month in order to provide a net change figure i.e. how many more or fewer members were there at the end of the month than at the beginning? |
Example report: dates chosen: September 2016 - September 2017.
Membership types chosen: all.
Now we go to subsequent pages to see the same data analytics applied to each of the different types of membership.
Example: Theatre Card - Standard
Here are the following two pages - for Theatre Card - Gold, and Theatre Card - Direct Debit.
If you need to alter any of the parameters (such as the months you're looking at or the types of membership), simply go to the top of the page, reselect your required parameters, and run the report again.
IMPORTANT NOTE
The "New" column for each month is not a true indicator of how many memberships are brand new (i.e. customers who have never held memberships before). It includes customers who have moved, at the point of renewal, from one type of membership to another.
For example: in the screenshot below, for Standard memberships only, it says that there were 1995 New memberships in October 2016. However, these 1995 memberships may include customers who moved from Gold or Direct Debit memberships at the point of renewal in October 2016. It is therefore not a true indicator of the number of purely "new" memberships purchased during that month. A further report for purely "New" memberships is currently being developed.
0 Comments
Add your comment