As a fitness and wellness business owner, keeping track of your KPIs is important for driving growth and ensuring long-term success. Regular KPI check-ins empower you to make strategic, data-driven decisions that enhance operations and maximize revenue. By analyzing trends in key areas such as membership growth, class attendance, and client satisfaction, you can stay ahead of challenges and capture new opportunities. In this blog, we’ll share some KPIs you should track to maintain a thriving business.
What is a KPI in business?
Key performance indicators (KPIs) are measurable metrics used to evaluate the overall health and performance of your business. These metrics use reporting and analytics to provide valuable insights into critical aspects of your fitness or wellness operations, including revenue growth, member engagement, and client satisfaction. KPIs provide a clear picture of your business's current performance and serve as a roadmap to achieving sustainable success.
7 KPIs you should be tracking
By tracking the right KPIs, you can identify areas for improvement, build on your strengths, and ensure your business goals are aligned with measurable outcomes. Here are seven KPIs that you should focus on and how Mindbody Analytics 2.0, can support you along the way.
1. Cancellation
Cancellation measures how often clients cancel their appointments, classes, or memberships within a specific timeframe—daily, weekly, or monthly. This metric helps you understand client behavior, identify trends, and uncover areas where your business may be falling short of meeting client expectations.
Why you should track it: Tracking your cancellation rate allows you to identify patterns that may affect your revenue and overall client experience. For instance, a high rate of last-minute cancellations might suggest problems with pricing, scheduling flexibility, or even client engagement. By monitoring this KPI, you can gain insights into client behavior, reduce revenue loss, and improve operational efficiency.
2. Customer reactivation
Customer reactivation measures the percentage of inactive or former clients who return to your business within a specific period. This metric indicates how effectively your business is at re-engaging lapsed clients, whether they paused their memberships, stopped booking classes or appointments, or left for other reasons.
Why you should track it: Reactivating former clients is often more cost-effective than acquiring new ones, increasing their lifetime value. This KPI also allows you to measure the success of win-back campaigns and targeted outreach efforts while providing insights into why clients left and what encouraged them to return, enabling you to refine your retention strategies.
Analytics 2.0 makes it easy to track reactivation trends in the Clients tab (beta). By filtering for clients who haven’t visited in the last 30, 60, or 90 days, you can quickly identify opportunities to bring them back. You can export this list to run a targeted email campaign or offer special incentives to encourage re-engagement.
3. First visit conversion
The first visit conversion KPI measures the percentage of first-time visitors who become paying clients after their initial experience with your business. This metric reflects how effectively your business creates a positive first impression and encourages new visitors to engage with your services.
Why you should track it: First impressions are everything. A new client’s initial experience with your business, whether in person or through your website, impacts whether they will return or seek services elsewhere. Tracking your first visit conversion rate allows you to evaluate the effectiveness of your marketing efforts and assess how well your staff interacts with prospective clients—specifically, whether those interactions successfully convert visitors into new clients. Additionally, it allows you to identify gaps in your sales process and service offerings that may contribute to lower conversion rates.
In Analytics 2.0, you can track first-visit conversions by reviewing intro offer usage in the Clients tab. By filtering based on offer type and time frame, you can determine how many trial clients convert into paying members. If you find that conversion rates are low, it may be time to refine your intro offers, enhance your follow-up strategy, or provide more personalized onboarding experiences.
4. Client satisfaction
Client satisfaction measures how well your services, offerings, and overall experience meet your clients' expectations. This metric is typically collected through surveys, reviews, and feedback, providing a direct insight into customer sentiments. It helps you understand how well your business meets client expectations.
Why you should track it: Client satisfaction is essential for building a successful fitness or wellness business. Happy clients are more likely to remain loyal and refer others. Monitoring this KPI helps you identify service gaps or issues in the client experience. It also keeps you competitive by allowing you to adapt to evolving client needs. By collecting and acting on feedback, you show that you value your clients, which fosters stronger relationships and drives both retention and growth.
With Analytics 2.0, you can track client satisfaction by analyzing visit frequency and membership renewal trends in the Clients and Sales tabs. A drop in visit frequency may indicate lower satisfaction, while renewal rates offer insights into client engagement and highlight areas that may need improvement.
5. Online reputation
Your online reputation is an aggregate reflection of your ratings, reviews, brand mentions, and overall engagement on platforms like Google, Yelp, and Instagram. It measures how your business is perceived across digital platforms, including social media, review sites, and online forums. This KPI gauges public sentiment about your business and its impact on your credibility and attractiveness to potential clients.
Why you should track it: A positive reputation enhances your visibility by improving search rankings, making it easier for new clients to find your business. It also significantly influences their decision to choose your services. Monitoring your online reputation helps identify client concerns, allowing you to address them proactively and improve overall customer satisfaction.
6. Recurring revenue
Recurring revenue shows how much income your spa, salon, studio, or gym brings in each month from memberships, autopay, or other recurring services. It gives you a clear picture of your business’s financial stability and potential for growth.
Why you should track it: As a business owner, maintaining multiple, consistent revenue streams is one of the best ways to achieve long-term stability. Tracking recurring revenue metrics offers valuable insights into the success of your pricing strategies—such as monthly facial packages or Pilates memberships—while also shedding light on client relationships, behaviors, and preferences. It also allows you to assess the impact of pricing changes or promotions, helping you uncover opportunities to introduce new services or membership options to grow your business.
You can monitor your membership revenue in the Sales tab of Analytics 2.0. This section allows you to filter data by pricing options, payment success rates, and revenue trends over time. If you see a decline in retention or revenue growth, consider reevaluating your pricing strategies, adding new membership tiers, or adjusting marketing efforts.
7. Attendance
Measuring attendance can help you track how frequently clients engage with your business through classes, appointments, or services. It surfaces important details such as the time and day of visits, the pricing options used, the types of visits, and which staff members or clients contribute most to the activity. This KPI provides a comprehensive overview of how your services are utilized, offering insights that can help you optimize your operations and offerings.
Why you should track it: Tracking attendance is key to optimizing your business and meeting client needs. It helps you identify peak and off-peak times, enabling efficient staffing and scheduling. Attendance data also highlights which services, classes, and pricing options perform best, while revealing opportunities to improve your offerings. It also helps you identify and recognize your top clients, enabling you to foster loyalty through targeted marketing efforts or personalized rewards.
With Analytics 2.0, you can monitor attendance trends in the Visits Tab. Filtering by time of day, instructor, class type, or pricing option helps you see peak hours, compare booking trends, and identify opportunities to optimize your schedule. If your visits are declining, it may be time to adjust class offerings, increase client engagement, or introduce new promotions to encourage attendance.
Monitor your business progress with reporting and analytics
Now you have a great starting point for tracking your KPIs, but the specific metrics you monitor should align with your unique business goals. Mid-year checkups provide the perfect opportunity to evaluate your progress, identify gaps, and make necessary changes.
Mindbody Analytics 2.0 allows you to track these KPIs in one place, filter data by location or service type, and export reports for deeper analysis. This powerful tool helps you identify trends, adjust strategies, and drive sustainable growth—ensuring you make informed decisions that benefit your business.
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