Ep9: Data-Driven Growth: The Metrics You Must Monitor

What's going on everyone? Matt here for another podcast episode. I'm your host, PT Profit, Leverage and Lifestyle Show. So first I just want to say thanks so much for all the love on the podcast so far. I'm really enjoying it and it's awesome to be able to create some value for you guys. That's what it's all about, just creating some value. So today I wanted to go through because for those who don't know or haven't been following me on my socials, I'm doing a, I'm doing a done for you service for face to face personal trainers. And so what that means is I'm essentially building their business for them. And what that means is I'm doing the consultations for them and signing clients up, onboarding them straight away, booking them in for their regular sessions, etc. So I've been doing that for a few pts up here in, in Brisbane and I wanted to go through the metrics that we're actually using to, to track success in the business. So like you, for those that are on my email list or follow me on socials, you'll, you'll probably hear a bit more about the done for you service because I'm really enjoying doing that because getting back in the field, you know, doing the consultations, getting the signups and I'm really enjoying it. Like over the last, like I was, I was in India for a couple of weeks obviously, but over the last two weeks I've added over $4,000 a month in recurring income for these two businesses and I think my conversions are like 90 something percent which is awesome. It's, it's, it's really good to see because I'm helping them do the leads, so pre qualifying the leads and then booking them in with me and then I do the consultation and it's just over the phone, so easy. I just do it from home. But anyway, let's get into today's episode. I'm going to share my screen. So if you're not watching, I would suggest if possible to, to Watch this on YouTube I believe Spotify also you can watch, I don't think Apple podcast you can watch at this stage, but YouTube and Spotify, if you're not listening to those ones or if you're in the car, I would suggest watching this one back. Like obviously you can, you can listen to the statistics but the visual is also good as well. So I'm gonna, I'm currently showing you my business tracker template which actually goes through the statistics that you should be tracking in your business. So I'll go through the statistics first, then I'll give you guys a bit of a look around. The business tracker that I use to track or our clients results. So this, I've been using this for about four years or so. So the actual statistics. So it's these down the side here, I'll just highlight these. So you know, so we've got generated leads, we've got booked consultations, we've got showed consultations, new clients, new sessions, conversion rate, lost clients, lost sessions, session growth. You can also have an income growth as well, which I'm pretty sure I've got. So that's the statistics, that's the statistics that you need to know. They're the, they're the growth tasks. All these are growth tasks. Now for the people that be working with me for a little while. I always say growth tasks need to happen every single week. Meaning you need to generate the leads every single week, you need to book the consult every single week, you need to be doing consultations every single week to grow your business. If you don't want to grow the business and that's fine, then don't worry about those things, simple as that. So the reason why we track these statistics every week is so we can pinpoint which area you need to improve on. I'm just going to do a couple of examples here. This is just my template and I'll just, I'll just get rid of it afterwards. So let's say, let's say you start off really well. We got 20 leads, we book in 10 and let's say eight of them show up and we get six new clients, 10 new sessions, didn't lose any clients. Session growth is 10, income growth, let's say 10 times. I say charging 600, sorry, 65 for a session. So 650 is the income growth. Awesome. Next week we're gonna get two leads which means you get one consult, one showed up zero sales, zero sessions, session goes to zero, income growth, zero. Next week we get five leads, you get three consults, get one show up, one new client, two sessions. So just if you're listening to the audio, I've got five leads, three consults booked, one of them show up, one new client, two new sessions. So the session goes as 2 and 130 per week extra. Now straight away you can see here if you're individual, the biggest factor for these is the ameta contour amount of showed consultations and how many booked consultations which therefore comes back to how many leads we generated. So if we wanted to add 10 sessions per week, we need to be able to get six new clients. So if we compare that to week three where we only got one new client, you look back and say, cool, well how many consults do we have booked? Well, we only had one. One show up. So that's the problem right there. You had one person show up and then you go, cool, well this week we actually booked three, but only one showed up. So that's actually a bit of an issue there. So what's happened with those other two people? Was there not enough value built on the phone call to book them in? Or let's say, for example, they didn't get the reminders or you didn't remind them, for example. So you can easily tell. And then like if you re, if you re. Relook at it as well, you've got. Okay, cool. Well, the first week we got 10 consultations. So there's no way we're going to be able to get 10 consultations booked if we've only generated five leads. So really that's just the guy doing the mowing. Give me a second team, I'm just going to pause it and I'll come back to you in a sec. Sorry about that. It's the guy doing the mowing outside. So as you can see here, it all flows together. Generated leads, books, consult, showed consults, new clients, new sessions. So to get new sessions, you need new clients. To get new clients, you need to do consultations. To get consultations, you need to book in consultations. To get consultations, you need to generate leads. But the other thing is, leads are never a problem, you know, if you know what you're doing, leads are never a problem. But let's say, for example, let's do some more examples. Let's say generated 10 leads, you book, you book in seven. You had seven show and you got two new clients and two new sessions. Didn't lose any yet. So if you look at the issue here, leads aren't the issue, consults aren't the issue. It's your sales conversion. 28%. 28% conversion. That means you're going to get to get 10 or to get six new clients, you're going to have to do these pretty much three times as much work, you know what I mean? So if you can, if you can increase your sales conversion, then you're going to be more time productive, which is one of the massive reasons why I really love doing the done for you service, because it's going to save the PT, you know, 10, 15 hours a week. For me to get 10 sessions, it might only take me, I don't know, six, five, six consultations, whereas might take them 12 to 15. So it's, it's so much easier to build a sustainable business when you, you, when you know how to sell. That's why, like when I first started doing coaching with pts, I used to only teach them how to sell because on average people are actually doing about a 30% conversion rate in the industry. So these are the things you want to track. Now, on top of that, you can also obviously see if you're having a trend of losing clients. Let's say you're doing like you get one consult. Yeah. Oops, you get one. Let's say you lost three. So session growth is actually minus three. Yeah, that's. What's that? Minus 195. Then you can see trend. If you keep losing clients, then retention is the issue. Then it's not like, obviously you can counteract that by doing more sales, but that's not what you want to do. You want to work on your retention. So then your income just keeps going up and up and up and up, rather than it goes up and then down and down and up and down, up, up, down, down, up, down, up, down. So it's a combination of both things. But these statistics that I've got here, so generated leads, booked consultations, showed consultations, new clients, new sessions, conversion rate, lost clients, lost sessions, session growth and income growth. Ideally, that's the metrics that you want to be tracking. Then you'll be able to see exactly what's going on in your business. And just, just for some extra value, I'll just quickly show you. Let me just sort this stuff back out. Okay, I'll show you what this business tracker looks like. So you've obviously got the statistics here and then you've got just a summary of your total session. So you've got total clients on record, total weekly sessions on the books. So you might have 10 clients, 15 sessions total, showed session. Let's say 14 of them showed up, so one of them was sick. Revenue and hold. So that's if someone's away from holidays, for example, and just say this is thousand bucks a week and you got a thousand dollars a week expected. So this would be a thousand minus the revenue on hold, which would be at this stage it's a thousand. Then you can see your business tracker growth over your time frame as well. You get your client spreadsheet as well. So all Your clients details in here. You can also see how much you're earning per week on here and how much people are spending per week. You can always obviously work out your average spend your weekly consultations. This is where you can track all the consultations that you're having each week to keep you accountable. I've been in here 10 consults per week. This is just like I went through this actually the other day with my, with my business when I first started and I was going through it with someone else and I was like, well look, look at all the consultations that I was doing. It's no wonder that I grew so quickly. I was doing 20 consults a week for like the first two months. No wonder I got fully booked in two weeks. No wonder that I was doing a hundred sessions a week. After three months, I was putting in the work with the consultations. And you know what happens when you get 80% conversion on 20 consultations every week. You're adding 10, 15 clients every single week. Of course that's why I had so much growth. It's no wonder that, you know, I grew the business so quickly. When you're doing that much work, it's not hard, not hard to be build a PT business, then you've got a database. This is where you have all the database, all the people that you meet, all the, all the calls that you do. You put your, their name, number, email, where you got their lead from if you've had the consultation. So then when you can remarket to them, you might remarket to them and nurture them over the next couple of months. Maybe now is not the right time for them to start pt, which is fine, no issues at all. But at least you've got their details so you can reach out to them again when you have a new offer that you can offer them. So that's pretty much it for today team. I just wanted to go through the statistics that I'm currently tracking for my clients that as I said, these are the growth tasks that you need to be focusing on every single week if you want to grow your PT business. So until next time, have an awesome day and I'll see you on socials or I'll see you on the next podcast episode.