The old cliche “if you don’t measure it, you can’t manage it” definitely reigns true in more ways than one. Guessing that 95% of people who read this are Personal Trainers, Strength Coaches, or Physical Therapists, I wanted to highlight some over-looked metrics that you should be tracking to help improve your business.
Referrals and who they come from
This seems like a no-brainer. Most businesses ask ‘How did you hear about us’ or offer incentives with every referral. That’s not what I’m talking about. I am suggesting that you break out your referral sources and track where those referrals are coming from. Clients, complimentary services (PT, Trainers, Club Membership, etc.), social media…try itemizing your referral sources and track which ones are superstars (reward them!) and know who maybe isn’t pull their weight (help them!).
This is something that I like to look at for not only paid clients, but prospective client assessments as well.,If you have a client or service that is yielding a high (anything over 20% or 1 in 5 is probably ‘high’) cancellation rate you might need to address the perceived value that service so that clients and prospects understand the importance of their appointments.
I am thinking about this in two different ways. One, how many hours/credits you need per year…making sure you aren’t pushing it off until the last remaining months of your certification (that never ends well). Two, making sure you aren’t draining your paycheck buying every course and con-ed seminar under the sun! Give yourself a chance to apply what you learn. If you’re the Trainer always on the road learning, you aren’t the Trainer always in the gym applying what you’ve learned. Plan out where and who you learn from, get it done, but know how much you have to do.