CONTENT BROUGHT TO YOU BY: InTouch Technology
Data is of vital importance to club owners and managers, especially when it comes to assessing business performance. With access to the right data, club operators can make strategic business decisions designed to promote growth, improve membership conversion and meet club targets and goals.
Thankfully, technology has advanced far enough to provide us with real-time data and reporting, so owners and managers can now closely monitor club statistics. When it comes to club sales performance, having access to real-time data and knowing what to do with it is of paramount importance. With the MAD (monitor, analyze, decide) reporting process, club owners and staff can seamlessly manage and use sales data to drive decision making. Using it can promote strategic decision making and increase club revenue.
The first stage of the MAD reporting process is to monitor. At this point, club management should identify, set and track achievable key performance indicators (KPIs) relating to their sales process. One of the benefits of using a member life cycle management solution is that your club’s sales data will be aggregated to form detailed reporting dashboards that management can easily monitor. By closely monitoring individual staff and club sales data, management and owners can quickly detect both positive and negative sales trends and react.
The next stage of the MAD process is to analyze. During this phase, club owners and managers should drill deeply into their club’s sales performance data to detect potential problems and analyze issues. They should also look to quantitatively study sales performance data, both at an individual and club level, as it relates to specific goals and targets. Lead conversion rates should be analyzed against club and individual goals. During this phase, club owners and managers can identify their high-performing clubs or individuals and implement their winning sales strategies at underperforming clubs.
The final stage is the decide phase. At this point, club management and owners will use valuable insights gained from both the monitor and analyze phases to drive strategic decision-making. During this phase, management will often use sales data to allocate budget to their most effective lead source channels. For example, an owner whose Facebook page is outperforming other lead sources might look to spend more of their budget on Facebook advertising and reduce spending on underperforming channels.
There are numerous benefits to a structured sales reporting process at your club. For one, the MAD process allows you to effectively track sales performance against goals and targets. This gives owners and management the ability to assess overall club performance and immediately take steps to resolve potential blockers to goal fulfillment. Furthermore, it establishes an essential framework for analyzing club and industry trends that influence management-level decision making.
President and CEO of InTouch Technology Dana Milkie is responsible for driving InTouch’s short- and long-term business strategies. Since joining in 2016, Milkie has been committed to expanding InTouch’s software solution to include member acquisition, engagement and retention tools. He is particularly proud of InTouch's reporting solution, InTouch InSights. This tool offers real-time sales reports and dashboards, along with the ability to drill down from multiple clubs and regions to individual sales metrics. Milkie is a 30-year veteran of the fitness industry and has been interviewed by IHRSA, Club Industry and more. Before InTouch, Milkie was ABC Financial’s senior vice president of client management, responsible for managing industry-leading customer portfolios. Prior experience also includes serving as senior vice president of a multi-location franchise group.