10 Gym KPIs You Should Be Monitoring Right Now
A gym’s success depends on knowing what channels and strategies are working, and how to optimize them to maximize member conversion. In order to meet your annual revenue goals, you’ll need to keep an eye on the KPIs that provide insight into what’s working, and what’s not.
1. Walk-In Traffic Conversion
It’s essential to track how many of your walk-ins end up converting into members after joining. This will give you valuable insight into not only how well your gym is attracting walk-ins, but also how well your team is at closing sales from walk-in appointments.
Additionally, you’ll have the opportunity to gain perspective on why they may not be converting into memberships. For instance, if walk-ins make up 32% of your new leads but only 10% of your sales, then you’d want to look into the quality of foot traffic or your staff’s capability to handle spontaneous walk-ins. All in all, this metric tells you where you can make adjustments to the in-club experience to maximize leads and membership sign-ups.
2. Online Traffic Conversion
Do you know how many members are joining your club via online platforms? Your website, social media, and email marketing conversions can tell you a great deal about how effective your digital marketing strategy is. For example, if you are getting a lot of new leads from the Facebook ads but not closing them, that could indicate that you need to make improvements to the quality of Facebook leads you are driving.
3. Appointments vs. No-Shows
The ability to compare your team’s set appointments with the number of no-shows can help your sales team make adjustments to their follow-ups with leads. Specifically, this KPI can help your sales team adjust their process to get more of those members to their scheduled appointments.
For example, sales team members could set up an automatic reminder for each appointment to help their leads remember scheduled meeting times. Automatic reminders can significantly improve your show rate.
4. Lead Sources
Do you know where your leads are coming from? When it’s clear how your leads are finding you–or where your sales team is finding them–you can adjust your strategy to attract more sales from those leads. Compare each source and consider how you might be able to maximize them. What can you do differently to bring in more members or boost sales?
5. Contacts Report
Having a contacts report to analyze allows you to see which of your sales representatives are making the most contacts or touchpoints on any given day. You can compare sales team members in terms of performance by lead type, daily contacts, and number of sales closed. This KPI will help you spot trends so you can determine which reps need to level up their skills or adjust their strategy.
6. Win Rate
Knowing your win rate helps you understand how and when your gym leads are buying. You’ll be able to answer questions such as: What lead sources have the highest close ratio? Which reps have the highest close ratio? How many sales are closed by appointment vs. by walk-in?
7. Targets vs. Sales
Do you have access to a visual dashboard that gives you a clear picture of your annual targets vs. your actual sales? With many gyms experiencing a loss of at least 50% of dues-paying members per year, it’s critical to keep your eye on your overall targets vs. sales.
You’ll need to continue making adjustments to your strategy throughout the year to both retain current members and attract new ones. This KPI provides much-needed context to help your team stay focused.
8. Lead Status
What’s the current status of your leads? A lead status KPI can give you at-a-glance information on each lead in your system. You can see where your leads are within your sales funnel, then determine your next steps for helping them move to the next stage in the buyer’s journey.
Additionally, you can view the methods of contact your team has used to communicate with each lead through the process, then make adjustments to your outreach strategy to optimize communication on an individual basis.
9. Multi-Club KPIs
Do you operate more than one club locations? Multi-club reports allow you to compare and contrast multiple gym locations to see how they’re performing, sales-wise. Then, you can dig deeper into what’s working for each location.
Additionally, you can track leads by salesperson and location. Then, you can compare those leads across multiple clubs. Once you’ve identified which clubs are seeing the most sales and why, you can adjust your strategy at lower-performing locations to boost sales there, too.
10. Not Interested
Once you know which leads have expressed that they’re not interested in your offerings, you can gather more information about why. These insights can help to educate your sales team on the major reasons why prospects choose not to purchase. Then, they can adjust their strategy in the future in order to keep prospects engaged, including personalizing their sales approach.
Need access to important KPIs for your gym?
If you’re not already monitoring these important KPIs and are ready to get access to this information and much more, take a look at GymSales. GymSales is a powerful sales automation and management software, created exclusively to gyms and health clubs.
This platform helps gym owners and sales teams keep in touch with their leads and members. It also provides real-time membership and sales information to help your team adjust your sales strategy and engage current members. Learn more by filling out the form to the right.
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