3 Must-Have Analytics to Strengthen Your Fitness Business
November 22, 2021
iKizmet offers a powerful suite of analytics features that help you fill classes, retain clients, and maximize revenue. New workouts, new technology, and more studio options than ever have changed the game for businesses in the fitness industry. To stand out in an increasingly competitive market, you need to know your numbers. That is, the data behind your business.
Think of it this way—looking at your data is like looking under the hood of your business. It allows you to identify what’s running smoothly, what needs a tune-up, and what’s just plain broken. But wading through spreadsheets of data for answers can feel like navigating a foreign city without a map. Luckily, iKizmet makes it easy to keep tabs on all aspects of your business—easily, visually, and in one place.
With iKizmet, you can see trends year-over-year and month-over-month, set and track data-based goals, monitor your class attendance, and know which clients you’re at risk of losing.
1. Align Around Shared Goals
Your fitness business exists to help people achieve their goals. Likewise, you probably have goals for your business: to bring in new clients, keep them coming back, convert them to members, and increase your recurring revenue. When your business succeeds in reaching its goals, you gain more opportunities to serve more people. See the cycle?
Good news: setting and tracking your goals has never been easier. The all-new goal-setting feature in iKizmet allows you to establish month-over-month goals for the metrics that matter most to your business. Once you set your goals, iKizmet automatically tracks your progress in your online dashboard, as well as sending weekly emails to help you stay on track.
The benefit of goal setting is twofold. When you align your organization around shared goals, you’ll see an uptick in productivity because each team member will know where to focus their effort. For example, if your goal is to increase intros retained by 10%, your team can go the extra mile to nurture new clients who purchase an intro offer.
Goal setting also allows you to track your progress and proactively address problems before they become detrimental. In this case, imagine you set a goal to increase new clients by 5%. Throughout the month, iKizmet will tell you exactly how many more clients you need to hit your goal. Halfway through the month, you’ve only acquired 25% of the new clients needed. Given this insight, you have the opportunity to ramp up your marketing and sales efforts.
2. Optimize Your Class Schedule
Your fitness business relies on class attendance for revenue, right? If your answer is “yes”—you know how important it is to optimize your class schedule for maximum attendance. To do this, you need to know what class types, days, times, and instructors your clients love. There are a few ways you can gain this insight:
Client surveys. Although sending out a client survey may seem straightforward, it’s difficult to calculate the accuracy of your results. Surveys depend on people to actually participate—and provide honest feedback. Because of this, surveys leave a lot of room for bias and error.
Export the data. Depending on your fitness class scheduling software, you might have the option to download a CSV report of class data. The problem here is that most scheduling softwares specialize in … well, scheduling. This leaves you to sort and navigate the data on your own.
Visualize the data. The quickest and most accurate way to optimize your class schedule is to look at comprehensive data using a visual chart, such as the class utilization heatmap in iKizmet. When displayed visually, historical data tells the full story behind attendance so you can evolve your schedule based on demand.
The iKizmet class utilization heatmap gives you an overview of your entire week of classes, making it easy to see the percentage of attendance across the board. To drill down into the details, simply hover over any given class to see month-over-month attendance, revenue, and the all-time total number of classes and clients.
With the class utilization heatmap, you can quickly identify popular and unpopular classes. Say, for example, you offer a 7:30 AM vinyasa class Monday through Friday. Attendance averages 80% every day except Wednesday, when attendance drops to 35%. Knowing this allows you to explore the cause and find a solution to increase attendance and revenue, whether it means putting a different instructor on the schedule, removing overlapping class times, or canceling the class altogether.
This insight also provides real-time feedback for your instructors, making it easy to celebrate outstanding attendance and coach issues with low attendance before they become problematic. The result of tracking attendance rates? You increase client engagement, support the attendance goals of your instructors, and boost morale all around.
3. Nurture Relationships for Retention
As a fitness studio owner, you and your team work hard to bring in new clients. But how do you make sure those clients keep coming back? New client acquisition is often time-consuming and expensive, which makes retention indispensable.
Client ‘quick facts’ makes it easier to keep in touch with your clients, know who needs a little extra TLC, and reach out with just one click. This iKizmet feature aggregates vital data for each of your clients in one place, including:
- Contact info
- First visit date
- Most recent visit
- Next scheduled visit
- Lifetime spend per visit
- Total lifetime spend
- Total visits
- Membership status
- Referral source
- Favorite instructor
If it’s been a few weeks since one of your regular members came in for a class, for example, you might reach out and encourage them to check out their favorite instructor’s new class on Wednesday.
Or, if you have an inactive member, you can send a re-engagement email letting them know about exciting new happenings at the studio. Hey, maybe even offer them a free week to come back and try out the new schedule.
To keep your loyal members happy, send them a special discount or gift on their birthday and personalize your promotions based on their activity. All of these actions show you care and foster great relationships while promoting client retention. Win-win.