1. EachPod

84: Use This Secret Software For Data Driven Growth

Author
Tim Lyons and Randy Angsten
Published
Tue 07 Jan 2020
Episode Link
https://built-to-grow.simplecast.com/episodes/84-use-this-secret-software-for-data-driven-growth-pYQi0kE3

In this episode, Tim and Randy will share a secret little software that Tim's incorporated into Pulse Fitness that gives him real-time, behavior-driven metrics that he can use in making the best decisions possible for the business. The super data analytics tools that he uses to run his gym are a real game-changer because what comes out of the box when one uses MindBody doesn't give them all the real gnarly data they need to run their gym business.

Tim, for example, uses the data to look at what he’s spending on marketing and determine the return he’s getting on investment so he can decide whether to keep his ads on or cut them off. He uses software called Ikizmet to get all the deep data analytics he needs for his business and applies that in his decision making. The software speaks perfectly to MindBody and extracts all the necessary data out of it to help gym owners tell how their business is doing. It even looks into client behavior trends and tells a gym owner the clients that are at risk of leaving their gym based on the clients’ past behaviors.

Ikizmet also works with ClubReady, ABC Financial, ZingFit, and Mariana Tek. The obvious things that a gym owner can use Ikizmet for include looking at the comparisons of month to date or year to date revenues so they can be able to forecast what they should be doing on a month to month basis to get ahead. There are so many other ways that a gym owner can use the software to move the needle forward in their business and take the guesswork out of owning their gym, and Tim and Randy will advise us on all that so we can be well informed. Stay tuned for more.

Key Takeaways:

  • The secret software for data-driven growth (02:48)
  • Getting the trends from previous years so you can forecast more effectively (05:09)
  • Telling who your best performing coaches are and retaining the at-risk clients (05:51)
  • Knowing where to put the money and where to cut the money(10:23)
  • The best resource for making sure that the offerings you have in your gym have a decent return to make it worthwhile (11:47)
  • How to tell which pricing plans (training packages) are driving the majority of your revenue (14:26)
  • Who's using your memberships, who's coming in the most on what memberships and what price points make the most sense for you? (19:39)
  • Having your data will help you make the right decisions and win better by telling you whether or not you're doing the right things (22:39)

Additional Resources:

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If you are interested in a free audit for your gym, visit http://bit.ly/free_gym_audit

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You can find out more about Tim and the strategies covered in this episode by checking out our website.

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Would you rather watch the video version instead?

Head over to our YouTube channel to watch this episode by going here

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If you don’t already have my book, get your copy FREE here.

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Connect with Tim:

Connect with Randy:

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