Key Performance Indicators (KPIs) allow you to focus on what is important to your business. For example, membership sales, retention rates, prospects generated, club attendance, billing collections etc.
By focusing on particular indicators (measures), you can make sure that what matters is measured and in turn… “What gets measured, gets managed” [Peter Drucker]
4 steps to get your KPIs working for you right now
- Think. Think about what you are trying to achieve at your club at the moment. Typically, this will be to increase sales or improve retention, however a number of secondary goals may come into play. For example; increasing the amount of tours, improve referrals, target a particular member demographic. Knowing your goals is vital as your goals dictate the KPIs to measure.
- Identify. Look at your data and identify improvements or decline in any given KPI. Once you’ve done this, you can look for correlations between certain activities and your KPIs. For example, sales made against outreach performed and prospects generated.
- Act. Based on your findings, you can modify your operations. Fewer sales? Try increasing outreach. Attendance low? Try holding an in-club event or giving away some free classes or PT sessions.
- Check up. Once you’ve acted, it’s important to ensure your actions are making a difference. Keep an eye on your KPIs to check you’re gaining the results you expected.
“In business, words are words; explanations are explanations, promises are promises, but only performance is reality” Harold S Geneen
A little motivation…
A key advantage that might be missed when looking at KPIs is how they can keep your team motivated. Regular updates on personal and team performance will ensure your staff know that you recognise their achievements, and that you are there to support them should they need some help. Under the Act part of the steps above, it’s important to involve your team so they know exactly what part they play in improving the results.
The ClubWise bit…
We wouldn’t be telling you all about how important KPIs are if we didn’t think they were too. This is why we’ve included it in our software.
Without boasting (ok fine, maybe just a little bit), we think the KPI Dashboard is pretty nifty. And powerful too. And extensive. And cool.
We listened to what club owners deem as important. And what was that? Managing processes. Sales, retention, prospect generation, or otherwise, KPIs enable managers do just that, tracking progress from start to finish.
What started out as a simple question of leavers/joiners turned into something far more robust, and with that our customers were able to measure, sell and retain members based on best practice.
And the best part? There’s no more or no less than you need and enough to give you a focus on key indicators in each important area. We like to think we’ve got it pretty down pat in clearly, concisely displaying the information you need to make swift business decisions.
“As a general rule, the most successful man in life is the man who has the best information” Benjamin Disraeli
So, let’s get to the crux…
Set your own targets for any KPI within ClubWise and see a graphical representation of your progress.
Are certain KPIs more important to you? Set your favourites and they will appear on your dashboard homepage for key stats at a glance.
All your KPIs are organised into their own sections to help you drive and measure individual processes. You can quickly evaluate the clubs overall performance, then drill down to find out even more information and more specific data.
It’s accessible anywhere.
With the CW4Managers app available for tablets and smart phone, you’ll find KPIs at your fingertips from wherever you are, so you can make decisions on the go!
For more information on the KPI Dashboard and to understand how more of our club management tools can help you to effectively manage and grow your business, please get in touch with our friendly team!