Data has become the world’s most valuable asset. Many experts are calling it the new oil of the 21st century. However, it is useless if it is not stored and analysed properly. 7 reasons why data analytics will boost your gym!
Why should you data analytics your gym?
Centres that base their strategy on data are three times more likely to make better decisions, that’s a fact.
In today’s digital world, technology is revolutionising the fitness industry. It’s true that, thanks to greater connectivity, awareness and variety of workouts, more and more people are signing up to gyms. But, their journey begins long before the treadmill.
*If you want to know more about how to improve the user experience in your gym, we recommend this article: 5 keys to customer experience as applied to a gym.
customer experience applied to a crosstraining box.
Big data and machine learning… what do they mean?
If you haven’t been living under a rock, you’ve probably heard the terms big data and machine learning.
Although both words are now commonplace, you’re probably not quite sure what they mean. It is precisely this fear of the unknown that is why so many avoid introducing new technologies and processes into their gyms.
Big Data: Refers to the large and varied amounts of information that are growing at an ever-increasing rate. It encompasses the volume of information, the speed at which it is created and collected, and the variety or volume of data points collected.
Machine learning: A branch of artificial intelligence and computer science that focuses on using data and algorithms to mimic the way humans learn, thereby gradually improving accuracy.
Analysing your gym involves both. What’s more, big data is the fuel for machine learning and that is the basis for increasing a gym’s profitability in the long run.
7 benefits of data analytics your gym
1. Discover new potential customers for your gym
Data is everywhere and its power is often underestimated.
By properly collecting and analysing data from your current gym users, you can not only get to know them like the back of your hand, but it will guide you on the path to new customers.
95% of businesses believe that data and analytics play a crucial role and 38% say that big data analytics is one of their top five issues.
By using data and analytics, you can make your marketing strategies more effective and accurate. From marketing data, you can find out who is engaged in social media, where they live and what their interests are.
You can then use this data to make better decisions based on user insights to target marketing campaigns to the people who fit your ideal customer.
2. Improve your gym’s competitive advantage
The fitness industry is competitive, and with each passing year, more types of disciplines emerge and more centres open. Your approach to Business Intelligence (BI) has the power to transform your gym. What do we mean by business intelligence? The combination of strategy and technology used to analyse data for business purposes.
If you invest in the right gym management solutions, you can start using your data now, design a BI strategy and unleash the full potential of your facility. And yes, this will put you ahead of your competition.
Another advantage is that, through the use of BI and data, you save time and free up valuable resources that you would otherwise have needed to implement strategies.
3. Answer the gym’s key questions
Your users are at the heart of your gym. Any strategy that helps you understand them and successfully manage the centre gives you a significant advantage. You may wonder what factors influence user behaviour or why they behave the way they do. Data analytics delves into the minds of users so you can answer key questions.
The questions that can be answered through data analytics can be divided into three categories:
- Descriptive questions: these answer questions that look back in time.
- Predictive questions: these are about understanding the future.
- Prescriptive questions: these are a little more advanced and address possible outcomes with specific actions and the best route to take.
There is a wealth of data you can tap into. Using different methods of data analysis, you can find the answer to multiple questions. This, in turn, helps you make decisions based on comprehensive data.
4. Boosting retention and loyalty of your gym users
There are several strategies you can use to increase the retention and engagement of your gym members. One of them is to personalise the experience as much as possible. Make your members feel welcome and truly cared for with great customer service.
Personalisation is a priority for businesses. A SalesForce survey of more than 7,000 consumers found that 57% of gym’s users are willing to share personal data in exchange for discounts and personalised offers. To fully personalise the experience, you need to know your users very well. This is where data is key.
By offering a personal and meaningful experience, your members will feel valued and will be much more likely to renew their gym membership. If they feel appreciated, this will be reflected in an increase in their engagement with your facility.
The following membership data can help you personalise the experience at your gym, both online and offline:
- Member purchase transactions
- Equipment usage
- Gym attendance
- Fitness goals and objectives
- Class attendance
*An article that interests you: the 3 key tips for having satisfied customers in your gym
5. Offer unique experiences in your gym
Whether you run a gym or a yoga studio, using data analytics on your users is crucial for expansion and success. By having a deep understanding of not only your users’ behaviour, but also their health, you can help them reach their fitness goals more easily.
By aligning your gym with the specific needs of each individual, your users will be thrilled that you are taking such good care of them.
By integrating fitness and data analytics, they will get a complete profile of each user and you will be able to deliver a customer experience that exceeds their expectations. Behavioural data is useful in all areas of business, but don’t forget about health data too.
Let’s look at an example:
Fitness brand F45 uses heart rate monitors during their workouts to deliver an effective workout in 45 minutes. Thanks to the data they create an experience that can be personalised over the 45 minutes based on heart rate.
Resawod tip: wearable devices such as Fitbit, Apple Watch and Garmin could become an essential part of analytics, becoming fully integrated into gyms.
6. Focus on what really matters in your gym
Data is extremely important for your gym. Analytics helps businesses leverage data to identify new opportunities and focus on what really matters.
This means you can make smarter, faster, data-driven decisions. Analytical data helps identify problems and implement processes that reduce wasted time and save resources and money.
Without data, how can you know if your users enjoy your gym or what new class they would like to take? Fitness analytics helps you focus on your members’ needs and behaviours, increase retention and create an experience that is entirely based on them.
7. Predict churn in your gym
The next step in analysing user behaviour is to predict churn. Predictive analytics is able to identify which users are at the highest risk of churn. This can involve analysing attendance data, class duration and frequency of classes.
If you have a regular user who always comes to the gym four times a week, but you haven’t seen or heard from them in the last two weeks, their data analysis would bring this to your attention.
In this way, it would be possible to contact them before they leave the gym. This gives you the opportunity to check the status of these users, identify any problems and convince them with an offer they can’t refuse.
As you can see, there is no doubt that data analytics is the future and the basis for a gym to reach its full potential. It is true that it is a rather complex subject at the beginning, but by using tools such as a sports management software, you will have all this data in the palm of your hand. Bet on data, bet on the future!
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