One Hit Wonders

I get knocked down, but I get up again.

Yes, I just started this Email with Chumbawumba lyrics, and the reason is because I am losing sleep (as I type this!) over one major thing - One Hit Wonders.

I've been baffled by this one major data point in our company in the last few months (ok the last few years) - our close ratio. Determined by the number of people who attend their first class - and then those that become a member. So if 100 brand new people try out a class and 10 become members - that's a 10% close ratio.

Got it. We love that for those 10!

But, WTF happened to the other 90 people!?

Transparently - our brand average is typically around 20%. Our highest-performing franchises convert between 40-50%.

Why isn't it 100%?

With quick back-of-the-google-calculator-math, if 100% of our first-timers this year so far had joined and stayed for a year commitment (on an average $99/mo membership) it would be an additional TEN MILLION IN SYSTEM REVENUE. But most importantly, THOUSANDS more lives that could have been changed because of DivaDance.

I want that 10 million and I want those changed lives!

I've heard a thought posed a few times in entrepreneur circles- what ONE THING, if completely different in your business, could single-handedly fix or transform the entire organization?  And these "My Sharona"s are it for me!

So tomorrow we are deploying a survey to a sampling of our ONE HIT WONDERS - people who came once and never came back. This will start a discovery process that will help me get to the bottom of this. I need answers. I need closure! 

If you have opinions on the reasons why some folks are one-and-done, I'd love for you to respond to this email. I'd love your insight and I can't wait to share some of the findings (and what we're going to do about it!)

In the meantime, enjoy this One Hit Wonder playlist of some of our favorites.

MMMBop…