We’re at a place in history where data is incredibly important. It’s helping us make better decisions and, when used correctly, can make running your fitness business a lot easier.
As a fitness pro you’re likely tracking data on your programs success rates, weight lost, inches dropped, and strength gained. That’s how you progress a client in their training and help them reach their goals.
Business is no different. There are a few very important metrics to track in your fitness business, but there is one that stands out above the rest. In fact, instead of throwing a million numbers for you to compile on a spreadsheet we’re going to break this down into a really simple action plan.
Critical Metric: New Core Offer Clients
The #1 metric for nearly every fitness business owner and fitness pro who is trying to grow their business should be New Core Offer Clients. This is the driver for your growth and a number that you can actively chase each day and see progress towards your goal.
Your New Core Offer Clients, or for those not familiar with our terminology here at FR, new clients, will allow you to hit your Gross Revenue and total client goals when planned well. The trouble with Gross Revenue being your target is that you don’t know that you’re going to get there until it’s too late to change anything. You review your Gross Revenue reports at most weekly, more likely monthly.
Gross Revenue is the equivalent of weight lost in a transformation. You don’t know what you lost (or earned) until you weigh in each day or week. Sure you can check progress, but that doesn’t help you reach your goals. Tracking your macros, calories or food intake is the equivalent of using New Core Offer Clients as your metric goal. You know that if you hit your numbers for macros daily that you should hit your weight loss goal.
How To Set Your Goal
Gross Revenue is important, and we certainly want to drive new sales and total sales up as we grow a business. So, to set your New Core Offer goal for your fitness business you’ll need to factor in the number of clients you expect to lose and the average monthly value of a new client.
Let’s say your goal is to add $1,000 of Gross Revenue per month to your fitness business over the next quarter. If you expect to lose 3 clients a month and the average monthly value of a client is $300 you need to get 7 New Core Offer Clients each month.
Here’s how the math works:
- 3 Lost Clients x $300 = $900 Lost
- 7 New Clients x $300 = $2,100 gained
- $2,100 – $900 = $1,200 gained
At the end of the quarter, if you hit your goals, you should be up $3,600/mo in Gross Revenue.
Relentless Focus
There are other metrics you should be tracking in your business and monitoring as the business owner, but relentless focus both by you and your team on the MOST IMPORTANT metric is required for growth.
Your daily actions and your attention should be aimed at ensuring you hit your goal for that metric each and every month.
If you’ve struggled a bit to hit your growth goals in the past do yourself a favor and post a big print out of your goals in your office or in the gym where you can see it every day and do something to drive that number up.
The Best Don’t Do It Alone…
And Neither Should You!
Schedule a free Strategy Session with a member of the Fitness Revolution team. We’ll dig into your business and help you discover the path you need to take to reach your biggest goals. And if you think working with us at the end of the call can help you reach your goals, we’ll discuss what may be the best fit for you.
