It’s a great idea to keep track of certain statistics each month. Having consistent numbers to look back on when you are trying to plan your marketing activities for the year will help you identify the strategies that work best to improve your martial arts school. Since the year has only just begun, now is as good a time as ever to make it a habit to consistently record and review your stats.
Here are the seven most important stats we track at the Kovar’s Satori Academies.
Active Count. This is the sum of all students on current agreements with a minimum term of four months (if you do month-to-month agreements, we’re trying to exclude trials, boot camps, and other short-run relationships). It includes family members training for free, provided that their agreements are associated with one or more family member(s) who are paying. This does not include any student whose account is past due by more than two months.
Each month we add up the number of students who meet the criteria for “active count” and record that number in our Stat Tracker.
Monthly New Enrollments. This is the number of students who enroll on their first agreement (and are not renewals) with a minimum term of four months. It includes new family members training for free, provided that their agreements are associated with one or more family member(s) who are still paying.
Each month we take the sum of all students who meet the criteria for “monthly new enrollments” and record that number in our Stat Tracker.
Monthly Quit Rate. This is the percentage of students who have quit in a given month. A student is deemed to have quit as of the last date of training they paid for. To calculate the monthly quit rate, divide the number of students who quit in a given month by the “Active Count” at the start of the month. The Stat Tracker tool does this automatically for our schools.
Monthly Revenue. This is the total revenue recorded by the school in a given month, and is the sum of the gross revenue for that month.
Student Value. This is the average revenue per student in a given month. To calculate “Student Value” divide the “Active Count” in a given month by the “Monthly Revenue.” The Stat Tracker tool calculates this automatically for our schools.
Monthly Inquiries. This is when a person expresses interest in, or asks a question about our program. This does not include prospects who have inquired in the last six months or anyone you encounter who does not express interest or ask a question about your program. To calculate “Monthly Inquiries” we add up the number of inquiries that meet the criteria of the definition.
Students on Trial Programs. This consists of the number of students currently on trial programs. This figure should be available at any given time, but for stat tracking purposes, we just record the total number of students on trial programs as of the last day of the calendar month.
If you are interested in help with tracking your martial arts statistics and finding ways to use that knowledge to reveal secrets to running your business more efficiently, schedule an appointment to learn more about our Stat Tracker and coaching resources.
Martial Arts School Owners!
Enroll More Students • Improve Your Retention • Increase Your Profit
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