Understanding the Importance of the Growth Indicators (Educator: John Harms)
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Do you know what the Growth Indicators are, or how impactful they are in your role at the front desk? Growth Indicators directly reflect the success of the business in various areas. They can tell you how the business has done in the past, how it is currently doing, and how the business will do in the future. Millennium was built around these Growth Indicators, so let us show you how to use these measures to your advantage!
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Understanding the Importance of the Growth Indicators (Educator: John Harms)
- 1. speaktme.com
- 2. speaktme.com Understanding the Importance of the Growth Indicators with John Harms
- 3. speaktme.com
- 5. speaktme.com TOPICS COVERED Growth Indicators How the Front Desk Can Help the Salon Grow Where to Find the Results
- 6. speaktme.com The Growth Indicators Growth Indicators are key performance indicators (KPIs) that represent the potential for future growth.
- 7. speaktme.com The Growth Indicators New Clients Per Month New Client Retention Repeat Client Retention Frequency of Visit Average Ticket ============ PRODUCTIVITY
- 8. speaktme.com New Clients Per Month Helps future growth and make up for loss clients. Result of reputation, client referrals, and marketing. Growth Indicators
- 9. speaktme.com New Client Retention New Client Retention measures how well you get clients back a 2nd, 3rd, … time. Affected by quality of service, rebook, and overall salon atmosphere. Growth Indicators
- 10. speaktme.com New Client Retention INDUSTRY AVERAGE FOR 2ND VISIT = 35-40% 3rd Visit = 25% By 6th Visit = 8-12%! Growth Indicators
- 11. speaktme.com Retention VS. Request Rate Retention is really measured at the ‘salon’ level – not the individual employee level. Request rate is the measurement at the specific employee level. Growth Indicators
- 12. speaktme.com Repeat Client Retention Repeat client retention measures how well you are keeping clients that have been coming back to you for at least a year. Growth Indicators
- 13. speaktme.com Repeat Client Retention INDUSTRY AVERAGE = 70% GOAL = 85% Growth Indicators
- 14. speaktme.com Frequency of Visit (FOV) Frequency of Visit measures how often, on average, clients come in each year. REBOOOOOOOOOOOK! Growth Indicators
- 15. speaktme.com Frequency of Visit (FOV) INDUSTRY AVERAGE = 5 Times a Year INDUSTRY AVERAGE for COLOR = 4 Times a Year Growth Indicators
- 16. speaktme.com Average Ticket The average spent per client when they visit your salon or spa. Typically separated by average service ticket and average retail ticket. Growth Indicators
- 17. speaktme.com Average Ticket No industry average. Millennium clients average $85. Increase $5 or $10 per client as a goal. Growth Indicators
- 18. speaktme.com Productivity As you improve the growth indicators your productivity will show in the appointment book and on revenue generated. Growth Indicators
- 20. speaktme.com Monitoring Results Analytical Reports (MA200) Monitoring Station Team Goals Millennium
- 21. speaktme.com Monitoring Results Analytical Reports (MA200) Smart Centers Meevo
- 24. speaktme.com