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.
It’s the most wonderful time of the year, for those who love all things holiday...and also for business owners who want to strategically improve their business in the next calendar year… because ‘tis the season of data!
Wodify Year in Review is an annual feature that analyzes and compiles data from every Wodify gym to help fitness professionals better plan for the year to come.
The Wodify Year Review is officially out, so what better opportunity to take a deeper look at the data we have uncovered in the final Behind The Numbers blog post of 2022.
What you can learn in this blog:
Before we dive into the winners, let’s take a moment to look back at a few top lessons data has taught us in 2022:
What a year full of numbers! Don’t worry, our Wodify Business Intelligence team will be just as busy, if not busier cranking out statistical conclusions for your fitness business next year. For now, take a moment to look through these findings as it might be helpful for your 2023 planning.
First and foremost, here at Wodify we are a Wodi-Fam (short for Wodify Family), and we pulled some data from all the fitness businesses using Wodify which showcases just how big our community is:
Now announcing the winners of the 2022 Year in Review Awards:
Congratulations to the winners of each category! These numbers represent your accomplishments, but can also be great motivators as you set goals for your fitness business for 2023.
It’s fun to look over your business’s Year in Review page, similar to how it’s exciting to look at Spotify Wrapped numbers, but data is more than just fun. There’s a lot to learn from the numbers you see on your Wodify Year in Review page. For example, an article about Spotify Wrapped not only explained what it is, but proceeded to launch into an analysis that indicates peoples’ posting, listening, & purchasing habits, as well as the psychology behind social media and Spotify.
What can you take away from your numbers and how are you going to use them to set goals for the new year? Here are a few examples:
Based on data we analyzed last year, the conversion rate of leads who take a class at your fitness space is 48%, while the conversion rate of leads who do not attend a class is 24%. If you want to increase your number of new clients and top the Wodify Year in Review charts next year, then you probably want to set a goal of getting more clients into classes at your gym since this doubles the chance of conversion. Maybe offer a first class free!
Retention rate is key to running a successful business, which therefore, means so is consistently following up and checking in on customers.This is why Wodify recently launched Wodify Retain. Wodify Retain is the fitness industry’s first machine learning tool that predicts at-risk clients. Using millions of data points across thousands of businesses, Retain’s algorithm predicts which of your clients are likely to cancel their membership, so you can prevent churn and increase your revenue. Book at demo to learn more about how to get Retain today.
The first piece of advice we will offer sounds simple, but it really works: encourage your clients to use performance tracking. Like Michael Jordan says, “you miss 100% of the shots you don’t take”. This is similar to performance tracking! You’re clients could be hitting personal records multiple times a week, but no one would ever know if they’re not keeping track of their progress. Increasing your use of performance tracking within your fitness space could also increase your retention rate by 20%. Wodify was actually founded on the basis of the need for performance tracking, which the Morning Chalk-Up recently highlighted. Learn more about Performance Tracking with Wodify here.
We hope you found these insights & advice useful for your business! Keep an eye out for more posts in this series as we continue to explore the data in Wodify.
If you are a Wodify customer, you can learn more about Wodify Perform here.
