Episode 196: Maximizing Class Utilization for Higher Revenue
Episode description
What We Cover In This Episode:
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Nick shares some exciting news on upcoming integrations we will have available soon [0:45]
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What is class utilization and why it is something a studio owner needs to be focusing on in order to generate more revenue [3:22]
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A few tools in fitDEGREE that can help studio owners learn more about this key metric [7:44]
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Tips for using class data to start achieving better results [9:43]
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What you can do to increase your class utilization before cutting or changing things [16:42]
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How to get a quick win that will move you in the right direction in getting people into your classes with low utilization numbers [19:23]
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Specific actions steps to follow as the “Challenge of the Week” we have for you [21:07]
Quotes:
“Total registrations is one thing to look at, but utilization is actually how many people are coming to the class that you allow in. So, if you said that 10 people can come to class, how often are you hitting that 8, 9 or 10 number?” [Nick, 3:21]
“I want to say the number you’re looking to hit is around 80 percent [for class utilization]. If you’re constantly hitting 100 percent and have a waitlist, it’s time for some sort of expansion, but if you’re not hitting 70 or 80 percent overall, it’s time to really dig into those individual class slots and figure out which classes are bringing you down.” [Nick, 4:45]
“Your class schedule is just a science experiment, and you can only test one thing at a time. So if you see that a session time is doing poorly, the variables are the time, the class, and the instructor.” [Nick, 9:45]
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