When it comes to making decisions, nothing’s more important than having the right information.
Fitness club management requires making decisions about all kinds of things. From the type of treadmills to purchase to the type of marketing to use to increase your membership, the number of options to consider can seem daunting. Rather than taking a shot in the dark or going off a gut feeling, data and insights can help you make an informed decision that’s more likely to positively impact your club.
There’s an entire world of data about your fitness club waiting to be discovered. You can find out everything from how many members checked in at a certain time of day to how much revenue you brought in during one quarter. If you send emails prompting members to purchase special packages, you can see how many of the emails were opened, as well as how many packages were purchased through the email. A data and analytics tool can give you all the data you need to make informed decisions for your fitness club. A robust club management software with an analytics tool is the key to mastering data-driven management.
Here are six ways utilizing data can revolutionize your fitness club management.
1. Learn About Your Members to Upsell
Knowing everything there is to know about your members can lead to a wealth of opportunity for your fitness club. With information on your members’ demographics, purchase transactions, equipment usage, attendance, goals, and objectives, you can dig deep and determine exactly what they want from your fitness club.
Once you know what your members want, you’ll have a much easier time segmenting them into groups and delivering the right promotions that will get them to spend more money and further their engagement at your fitness club.
2. Refine Revenue Streams
With a clear picture of where your fitness club is making and losing money, you can make informed decisions about all kinds of things that impact your revenue. If you know which type of offerings or memberships are most profitable and which aren’t so popular, you can make the best decision about what to double down on and what to discontinue. Having participation and revenue data may even provide inspiration for new revenue streams to explore.
3. Boost Productivity
Gain insight into how your staff uses their time, then leverage your learnings to increase efficiency. With information on what tasks take the longest and are the least fulfilling to your team, you can find solutions to streamline your processes and increase productivity. For example, a data tool might uncover that you’re wasting significant time and money chasing declined credit cards. This could lead to implementing a full-service billing team to manage your payments and billing.
4. Increase Marketing Success
On top of everything else it takes to manage a fitness club, managing your marketing to attract new members, retain current ones, and win back former members is a massive task. In the complex and multi-faceted worlds of traditional and digital marketing, it can be difficult to determine what tactics will best capture your target audience’s attention.
With an analytics tool, you can see how each of your marketing campaigns are performing and who they’re reaching. Using data and analytics tactics like A/B testing, you can pinpoint the effectiveness of your marketing and refine your approach to reach better results.
5. Answer Key Business Questions
No one can predict the future, but you can use data and insights to get a better idea of things that are more or less likely to happen regarding to your fitness club. Having data about your fitness club can help you answer business questions in three key areas: descriptive, predictive, and prescriptive. Data can give insight into what’s already transpired at your fitness club (descriptive), what’s to come (predictive), and what may happen as a result of a specific action (prescriptive).
6. See How You Stack Up
Your fitness club doesn’t exist in a silo. There’s an entire market of other clubs all vying for the same audience, and it’s helpful to know how you stack up against them. Having an analytics tool to compare your key performance indicators against other fitness clubs can give important perspective into how you’re doing and what to strive for next.
Making decisions for your fitness club includes factoring in a lot of unknowns, but the more information you can find out beforehand, the easier it will be to make a decision that will benefit your club. With Club Automation’s Performance Analytics, you can use data-driven management to revolutionize your fitness club.