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Setting Goals: Creating Digital KPI's

focusing on retention in 2018

Well, we're done with January! From what I'm hearing, it was a fantastic one for most of our clients. Increased membership, smarter onboarding and a more directed approach with the mobile app. 

As we enter the second month of the year it is imperative that you don't forget about the people that signed up with you in the first month. With a mobile app you are in such a good spot to digitally interact and motivate your members. 

Why? Well, your members are spending 177 minutes a day on their phone, 87% of people say that they have their phone by their side day and night, and 85% of the time we spend on our phone is spent in an app

You have a massive opportunity this year to diversify member engagement through digital and completely transform your business. But how? 

Easy! Let's set some goals. For the next few moments, I'll be your Business Personal Trainer and you be the overweight middle aged mom? Cool? Cool!

First we have to find out why you purchased a mobile app, or are in the process of looking into one? Was it to enhance member experience with your brand? Engage your members and increase retention? Have a more efficient means of communication? Streamline your referral process? 

What are the major reasons? There could be 3 or 4 reasons, and there are no right or wrong answers.

Once we know that, we can then tailor our goals to your app and business. 

Now there are a few categories of KPI's, and if you were on our Webinar in January you heard Danny Woods our Head of Account Management speak about these at length. 

We have our basic KPI's and our advanced KPI's. 

The basic KPI's are the indicators of a successful all around app. These are more general KPI's that should be tracked regardless of goals. They consist of:

1. Downloads

2. Usage

3. Retention Rate

4. Active Users

5. Session Length

6. App Store Reviews and Feedback

These KPI's are going to show you how many people currently have an account, what percentage of those people utilize the app, for how long and what they are saying about the app. 

You should be setting these benchmarks for 30, 60 and 90 days out and be assessing your progress along the way. 

Now your more Avanced KPI's are going to be goal dependent. This is where you start to see your real return on investment. This return could be monetary, or it could be engagement, retention, and value added to members. 

Our most common are: 

1. Membership Sales via Referrals 

2. Cross Selling of Product

3. Data Capture

4. Bookings

With these you're not only seeing monetary ROI with the membership sales and product sales from your deals tile, but you are capturing member data and member sentiment of the app. With member data and sentiment we can then start to market and promote products and experiences personally to each member. 

With the Advanced KPI's we leave the general strategies for the more directed approach that our members prefer. A member that purchases a smoothie and refers friends can be marketed to differently than a member that just enjoys class bookings and the digital streamlined approach. 

No matter your goals, the idea of each of these KPI's are going to be around creating a better all around experience for your members day in and day out. 

If you can create a proper digital experience for your members that allows them to communicate more effectively, book classes more efficiently, utilize what is important to them, the return on investment will be there. Whether it be through membership sales, or general value add that keeps a member longer, your facility can see massive growth just by tracking what is important to you. 

 

 

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