Glofox Insights: Enhance Lead Acquisition & Conversion

December 11, 2020 14:20

This article will take you through;

What is Glofox Insights?
What is Lead Acquisition & Conversion in Glofox Insights?
Getting the most out of your Lead Acquisition & Conversion data
Next steps and additional support

What is Glofox Insights?

Glofox Insights is an advanced analytics tool. It helps you eliminate the guesswork from your business and get certainty that your actions will have a positive impact on its future. Glofox Insights is an add-on tool, that existing Glofox customers can upgrade to, which allows you to get the most value from your data. If you'd like to learn more about Glofox Insights or if you are considering upgrading to Glofox Insights, reach out to customersuccess@glofox.com and our team will be happy to help you.

What is Lead Acquisition & Conversion in Glofox Insights?

From the Lead Acquisition & Conversion dashboard in Glofox Insights, you’ll have a clearer picture of where your new members are coming from, which of your channels are performing the best, and which of your efforts are not getting the results that your business needs.

This includes:

Leads Created
Trials Purchased
Converted Leads
Lead Conversion %
Lead Referrals
Leads by Source
New Members by Source

We’ve found that using the insights from your Lead Acquisition & Conversion dashboards is even more effective when combined with our onsite lead capture form, so be sure to check it out to make sure that you’re getting the most out of your leads tools with Glofox.

Please note;

For our customers using Glofox Insights for Multiple Locations, you can view each of the below dashboards for your overall business as well as per individual gym/studio location.

Getting the most out of your Lead Acquisition & Conversion data

Each of the segments in Lead Acquisition & Conversion can be examined in more detail by simply clicking on the data you’d like to know more about. This will provide you with a more granular view of each data segment and allow you to determine which of your leads channels is performing best and which channels are underperforming. With this information, you’ll know where to invest more of your time to improve your leads flow and increase your conversion rate.

Leads Created

Leads Created provides you with a live view of the total number of leads created from your sales and marketing activities. You can set a date range to view a full breakdown of leads created for that period and see the impact that your efforts are having over time.

Recommended Action	Expected Result
Set monthly leads goals for your team. Monitor the team’s success in attaining goals and agree on a reward for hitting certain targets.	Increased leads; Incentivized sales and marketing team; More consistent stream of leads.

1._Leads_Created.png

Leads & New Members by Source

Leads by Source provides a breakdown of where Lead accounts were created in a given time frame. New Members by Source, on the other hand, gives you a breakdown of where new Member accounts were created in any given time frame. Both are super important for your business to understand where most of its leads are coming from and the channels that are most successful at converting leads to full-time members with your brand.

Recommended Action	Expected Result
For each source of leads or members, make sure that your team is dedicating time to those channels on a daily basis to make sure that they perform at their best. This means making sure that each channel is up-to-date, functioning correctly, and promoting your brand as clearly and consistently as possible.	Better lead acquisition process; Increase in leads; Increased conversion rate.
Review your lead capture by source and decide whether to invest more in the infrastructure that you have set up for capturing leads by their source. For example, you could integrate a lead capture form onto your web portal as this has been proven to increase the number of leads generated via our customer’s website.	Better lead acquisition process; Increase in leads Increased conversion rate.
Review your New Members by Source. Based on the number of new members via your web portal and member app, make sure that both of these are up-to-date and functioning correctly so that your team is prepared when a prospect engages with your brand.	Increase in new members; Improved new member experience; Increased conversion rate; Increased retention.
Consider using a standalone member app to increase New Members by Source, if you are not using one already. The Glofox-powered member app has been proven to increase membership conversion for our clients so it’s definitely worth considering for your business.	Increase in new members; Improved new member experience; Increased conversion rate; Increased retention.

Trials Purchased

Trials Purchased reveals the number of trial memberships sold during a chosen time frame. This is one of the most crucial times during the conversion from lead to full member so it’s important to make sure that you are running your trials effectively. The insights from this dashboard will help you keep a tighter rein on your trials purchased performance.

Recommended Action	Expected Result
Set monthly trials purchased goals for your team. Monitor the team’s success in attaining goals and agree a reward for hitting certain targets.	Increased in trials purchased; Incentivized sales and marketing team; Increased conversion rate.
Try experimenting with different types of trial to see which performs most effectively at converting trial members to clients with recurring subscriptions.	Higher number of trial signups; Better engagement; Increased conversion rate.

2._Trials_Purchased.png

Converted Leads & Lead Conversion %

Converted Leads gives you a look at the number of leads that have converted to a membership with your brand. Lead Conversion % provides a look at your conversion rates over time and how they are progressing. Both of these insights are excellent indicators of your team’s success at convincing prospects to get started with your gym/studio. You should use them to set a baseline so that your team has clearer targets as they set about improving the lead conversion process.

Recommended Action	Expected Result
Using the historical data provided by Converted Leads and Lead Conversion %, you should set clear monthly conversion targets for your sales team and consider setting up an incentive scheme for targets hit.	Increased in converted leads; Incentivized sales team; Increased conversion rate.
For customers that are using Glofox Insights for Multi-Location, you could set benchmarks by comparing the lead conversion performance between your gym/studio locations. You could then set up a reward system and reward the teams from branches who can hit their quarterly lead conversion targets.	Increased in converted leads; Incentivized sales team; Increased conversion rate.

3._Converted_Leads.png

4._Lead_Conversion__.png

Lead Referrals

Leads Referrals is an important piece of information as it reveals where the most and least successful referral channels that your leads are coming from. With these insights you can get to work on setting up or improving upon your referrals program, increasing the flow of new leads into your business.

Recommended Action	Expected Result
Focus your attention on the channels where most leads are being referred from and try to increase the number of referrals by investing in a better leads referral system or process here, or providing better incentives to the person that refers the leads.	Improved leads referral program; Increase in lead referrals.
For channels that are performing the worst in terms of lead referrals, consider halting any activity there and focusing it instead on your better performing channels. Alternatively, you could invest more of your time into these poorly performing leads referral channels as a temporary experiment and try to bring them up to par with your better performing channels.	Improved leads referral program; Increase in lead referrals.
Consider implementing a rewards system for the person who refers a prospect to your business. For each lead that converts to a member, you could provide that person with a reward such as a membership discount or some branded swag.	Increase in engagement from the referee; Increase in lead referrals.
Using the historical data provided by Lead Referrals, you should set clear monthly referrals targets for your team and consider setting up an incentive scheme for targets hit.	Incentivized team; Increase in lead referrals.

5._Lead_Referrals.png

Next steps and additional support

Glofox Insights is even more effective when you combine the in-depth knowledge of your Lead Acquisition & Conversion data with our lead capture tool that can be embedded directly on your site so be sure to check it out to make sure that you’re getting the most value from your leads tools with Glofox. Our member app is also extremely effective at converting prospects to members so it’s definitely worth considering for your brand. We’ve included more information on both for you below.

We've also included some additional resources below for you to get the most out of Glofox Insights:

If you’d like to get started with Glofox Insights and get the most out of your Lead Acquisition & Conversion data to help you grow your business, reach out to customersuccess@glofox.com.

For any additional support reach out to support@glofox.com and we will be happy to assist you.