Learn about the importance of tracking KPIs, such as leads and conversions, in your personal training business. Discover strategies to increase show up rates for booked sessions. Explore the challenges of getting your team to buy into KPIs and the significance of customer uplifts for retention.
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Quick takeaways
Tracking the number of leads and their sources is crucial for understanding the effectiveness of marketing strategies.
Ensuring a smooth and effective booking process is essential in securing appointments and making potential clients commit to the next step.
Deep dives
Tracking Leads and Lead Sources
The first key metric in a personal training business is tracking the number of leads and their sources. Leads can come from various sources such as digital advertising, referrals, walk-ins, and phone calls. It is important to track the overall number of leads and their sources to understand the effectiveness of marketing strategies. This information helps allocate marketing budgets efficiently and determine which sources are generating the most leads.
Converting Leads into Booked Sessions
The second important metric is to measure how many leads actually book sessions to come into the fitness facility. The aim is to get warm bodies through the front door. Follow-up with leads through phone calls, email automation, or personal outreach plays a crucial role in converting leads into booked sessions. Ensuring a smooth and effective booking process is essential in securing appointments and making potential clients commit to the next step.
Maximizing Attendance and Show Rates
Although leads may book sessions, there is often a gap between booking and attendance. Maximizing attendance rates is essential for success. Implementing strategies to reduce anxiety and build confidence in potential clients is important. Sending personalized text messages and creating preview videos can help overcome nervousness and encourage attendance. Following up with a phone call on the day of the session to confirm details and express excitement is also crucial. Tracking show rates and implementing systems to address missed sessions is essential for continued growth and success.
Closing Sales and Retention
The final key metrics include closing sales and focusing on customer retention. Closing rates can be measured by evaluating how many warm bodies walked through the gym doors and converted into paying customers. Efficiently tracking conversions and sales processes helps to reverse engineer business growth. Additionally, customer retention is vital for long-term success. Setting a target of 3% or less churn rate per month and using leading behaviors, such as asking clients if they are booked for the next session, can greatly contribute to customer satisfaction and long-term commitment.
In this episode, we will be discussing the KPIs (Key Performance Indicators) that are critical to the success of your business. Learning what to measure and knowing why it's important is all vital stuff. The knowledge, or the lack of it, can make or break your business.
You can reverse engineer figures such as the number of leads, how many leads you got, how many of those leads you got to book to come in and see you, and how many you closed, to give your team actionable steps and keep them on track.
Be clear about behaviors that can help your team understand what to do - ones that you know are going to lead to the numbers that you want. It’s going to help with client retention in a big way. To know more about how KPIs fit into the big picture, stay tuned.
Key Takeaways:
Tracking the overall number of leads and their source (1:24)
How many of those leads do you get to book to come in and see you? (4:04)
Are you closing at least 20% of overall leads? What's the cost per lead? (7:54)
A good KPI for a personal training biz for retention would be 3% a month (9:33)
Then you start looking at lifetime value of the customer (11:36)
The efficiency rate as percentage of sessions booked (14:13)