Now that the first quarter of 2018 is wrapped up, it's a great time to evaluate your gym or studio's performance. How successful were you at converting the influx of post-holidays prospects into engaged members? If the answer is "I'm not sure", it's time to start tracking your club's data to grow your business. Let this be the year you make business decisions based on honest metrics instead of gut reactions!
Here are 10 metrics you should be tracking:
1.) Marketing Source: Understand where your marketing efforts are working best. Know where people visiting your website are coming from. Having this information will help you to better gauge your marketing return on investment (ROI) for each marketing campaign. You will see at a glance which campaigns are reaching your prospects and why, saving you time and money in your marketing endeavors.
2.) Sales Opportunities: This metric will allow you to track how many sales opportunities, in a given date range, result in a prospect scheduling a tour vs. actually coming in for one. This is really important for keeping your staff accountable and seeing your lead conversion rates.
3.) Prospect Follow-Up: Is your sales staff actively following-up with prospects? Dramatically increase accountability and sales numbers by tracking how many follow-ups are happening every month and by whom. This will really show you who your top performers are and why. (You can automate this with Club OS. Let us tell you how.)
4.) Guest Log: Tracking how long the guest life cycle is will help you pinpoint where your prospects may be getting stuck in the sales process. This includes metrics that cover their tour date, whether they joined your club or not, when they submitted a guest waiver, and more. Be aware of your guest pass experience and make changes based on trends.
5.) Memberships Sold: Understand your membership sales through metrics. This is where you can really dig into what your membership sales process entails. Keep track of who is selling what, how many tours/orientations each person needed, monthly payments, one-time payments, and more. These metrics allow you to make internal changes based on real numbers.
6.) Personal Training Metrics: One of the most important metrics you can track is how often your PT members are actually using their PT. This is helpful in upselling, trainer accountability, and growth. Important metrics to track include how many sessions were bought, how many have been used, and how many have expired.
7.) Class Attendance: Like PT, tracking your class attendance is the best way to know which services are growing your business. Which classes have low signup rates? Which have high signup rates but chronic low attendance? This metric can help you narrow in on classes that engage your clients and those that you may need to rethink the class time, trainer, or format.
8.) Member Check-In’s: How often are your members actually showing up? This is a major key to increasing your retention rates. You can take this information and make sure your sales team is reaching out to increase activity among your members, therefore increasing retention!
9.) Payroll: As a gym owner or manager, keeping up with payroll can be a real headache. Keeping track of the metrics and setting up a report is extremely helpful when trying to pay your trainers, set up commission, and track class payments. Make life in your gym easier by staying on top of payroll! (We know this is a headache, so Club OS built in a payroll report that is delivered to your inbox with just one click!)
10.) Membership Follow-Up: Because retention is extremely important, your salespeople should be following-up with members every 2-4 months to check in on progress and ask for feedback. Track the progress of each follow-up and keep your employees accountable!
Once you know your metrics, set new target goals. Download our free 2018 Goal Setting Worksheet!