Behind the Numbers: How You Really Should Be Keeping Track of Your Business Data

Behind the Numbers: How You Really Should Be Keeping Track of Your Business Data

Behind the Numbers: How You Really Should Be Keeping Track of Your Business Data

Wodify is a leading all-in-one fitness management software, trusted by 5,000 of the world’s top businesses. With one of the largest & most accurate datasets in the industry, we decided to create this blog series in order to share specific metrics that are proven to drive results, insights from the most successful gyms, and how Wodify customers can track their progress. 

Intro

In the last Behind the Numbers post we discussed the secret to saving  yourself two days of work per month. On a similar note, there’s yet another way you can earn back your time as a fitness business owner. “How?” You may ask, the answer is: custom reporting. This Behind the Numbers blog and accompanying videos, will explain what custom reporting is, how it works, and how to best use it to improve your business.

Let’s break it down:

What is custom reporting?

Custom reporting is a powerful tool that enables you to have complete control over your business data, so you can easily analyze and improve your business. 

Why is it important?

…Because it’s built for your specific needs. Every business operates differently, attracts various kinds of clients, employs coaches or teachers with diverse expertise , brings in differing revenue streams, and therefore, requires different reports.

When choosing a software to run your business, it is important invest in something that doesn’t just get the job done, but can serve as a platform for your business. 

Think of it this way, buying software is similar  to buying a physical space for your business. Most people think buying any software that enables you to check-in and bill clients will check the box of “software”. But really, that’s like investing in a space that’s meant for Yoga when you run a CrossFit business. A space built for yoga ideally has high wooden ceilings and a warm feel, but if someone where to drop a barbell or slam a med ball on the floors they’d probably crack.  Having software checks a box, just as having a physical space checks a box, but it’s important it is tailored to your business. Wodify empowers you to curate the software you need to run your business, and, zooming back in, custom reporting is one example of how to do just that within a software.

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The best software for the best athletes.

How to Use the Numbers

In order to fully understand what you can do with custom reporting, we’ll do a deep dive into two different reports you can create within the feature: a simple report and a more complex report. 

1. Simple Custom Report: Clients Without Sign-Ins

One example of a custom report you can create within Wodify Custom Reporting is a dashboard that shows you which clients haven’t signed into class in a certain number of days. 

The first, and most important, step to creating a report is first asking yourself what the question is that you want to answer. In this case, maybe you are concerned that you are losing clients and want to stay more on top of which clients may be phasing out of your business. So, you ask yourself: which clients have not checked into class in 7 days (or whatever length of time you prefer) in order to obtain the client’s name and phone number so you can check-in and make sure they’re still happy with their membership. 

Watch the video below to see how you would create this report:

2. Complex Custom Report: Value Per Attendance

In this next report, the question you might be asking yourself is, how much value am I getting out of each client? Each client pays a membership fee and has a different rate of attendance. Say someone has a monthly membership for $100 and attends 18 days that month, their value per attendance is lower than someone who pays for the same plan and only attends 4 days that month.

This data can help you better understand your clients, and what kind of clients classes attract. For example, Monday evening classes may attract clients with high value attendances, than what the Friday evening classes would attract. Perhaps this indicates you should be adding more Monday classes or take away a few Friday classes.

What makes this next report more complex than the previous one is that you have to create a custom column. This custom column uses data from previous columns to calculate the value you are looking to obtain, which in this case is the membership value per attendance.

Watch the video below to see how you would create this report:

Impact to a Business Owner’s Bottom Line

By investing time in creating reports that help you understand your business, you empower yourself to set goals and consistently keep track of busines metrics. Within custom reporting, you have the ability to set up “email subscriptions”, so that daily, weekly, monthly, or any cadence you prefer, your report can be emailed to you. This is a great way to remind yourself that you should be keeping track of these metrics and taking actionable steps on improving or maintaining them. 

With full utilization of custom reporting, you can push your business to the next level, and therefore increase your client base, retention, and revenue. 


If you are a Wodify customer, you can learn more about Wodify Custom Reporting here

If you aren’t using Wodify yet, you can book a free consultation here

Want to keep learning? Check out our most recent Behind The Numbers posts:

The Secret To Saving Time & Money as a Fitness Business Owner

The Surprising Impact of COVID-19 on Gym Memberships

How to Optimize Your Fitness Class Schedule

Why Every Gym Needs Client Performance Tracking 

Ready to put what you’ve learned into practice?
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