Understanding Your Metrics

Hope everyone had a great weekend! I wasn't able to get around to last weeks newsletter but I'm making up for it now.

This topic isn't as sexy as some of the other things I share with you guys, but this is probably one of the most important ones: understanding your academy's metrics.

I'm a big numbers guy, I was really good at statistics and interpreting data when I was in college. Data can help us measure our performance and identify problems in our business. So here are what I think the most important metrics are for every martial arts gym:

• Sign Up Rate

• Retention Rate

• Booking Rate

Here's how you can find each of them:

• Sign Up Rate: Take the total number of leads your gym generated for a given month and divide it by the number of sign ups you had in that same month. Example - 10 sign ups / 100 leads = 10% sign up rate.

• Retention Rate: Find the total number of sign ups for a given period and subtract the number of quits in that same period, the result gives you the number of active students currently in that period. Then divide the total number of sign ups by the amount of total active students. Example - 100 sign ups in a year minus 30 quits = 70 active students. 70 active students / 100 sign ups = 70% retention rate.

• Booking Rate: Take the total number of leads for a given period and divide them by the number of booked class trials. Example - 5 booked class trials / 25 total leads = 20% booking rate.

Identifying these metrics can tell you a lot about the health of your business. Once you find these metrics, you'll want to start working on ways to continuously improve them. I can talk a lot about this topic but right now I just want to get you thinking about them.

As always feel free to reach out to me with any questions!