When I was first presented this number I could not believe it. So I sent it back to my team. “Check the math.”
I did three times. “Check it again.”
This is a great question. In my previous posting we broached the topic - Is your website an expense or a source of revenue? At Thrive we believe your website should generate so much new revenue, you would never consider it to be an expense.
We built an online tool that helps you determine the lifetime value of your members. As we work with more than 50 YMCAs across the country, we set out to figure out the Lifetime Value of a YMCA member. We learned that, on average, it costs $53 per month to be a Y member. This equates to $636 per year.
We also learned that the average member stays for 7.5 years. So if you take $636 per year times 7.5 years, the average member is actually worth $4,770.
So let’s dream for minute. As you review your marketing plans for the balance of 2016, what if you could use your website to generate 10 sales leads per month that your Sales Team converted into new members. And you were able to convert 10 prospects per month for the next 12 months.
These 120 new members would bring $572,400 into your Y over the next 7.5 years.
If you want to figure out the lifetime value of new members in your Y, use our free online YMCA Lifetime Member Value Calculator. You will also find a YMCA Website Generator on this page to determine if your revenue potential is $572,400.
If you want to know how to get ten qualified sales prospects to your Sales Team, give me a call at 419-776-7000 x200. Or just give me a call to talk. I would love to hear from you.
“I think the acquisition of consumers might be on the verge of being mapped. The battlefield is going to be retention and lifetime value.” - Gary Vaynerchuk