Industry • Best Practice
Mar.18,2022By Boulevard Staff
At a recent AmSpa event, Jennifer June, COO of Boulevard customer Evolve MedSpa, laid out five powerful ways wellness businesses can leverage their data to boost performance.
The techniques she covered in her presentation helped Evolve double their revenue in less than four months — and accelerated profitability across their locations by 30%.
We’ll cover all five of her tips in this blog post, giving you the insight you need to unlock the potential of your data across your business: from inventory management to client retention.
Before Evolve took a data-based approach to inventory management, their stock situation was a mess. They had no established controls and struggled with missing inventory — and the disorganization was eating away at their profitability.
The solution was to use inventory management software that gave them precise data on the state of their stock and allowed them to distribute inventory as needed. This decreased monthly inventory costs, minimized product loss, and improved staff accountability.
The skillful deployment of data also helped Evolve significantly improve retention. Using the reporting capabilities of Boulevard’s spa management platform, Evolve discovered that while they were generating a healthy flow of first-time clients, only 40% returned after their initial visit. They traced the bleed to a trio of issues with how they were handling consultations, scheduling, and their intake forms.
After making strategic changes to each area, Evolve saw an immediate impact: consultant conversions increased — as did average client value and customer satisfaction.
Evolve also used their management platform’s client profile feature to understand where clients come from and what they want. Created during the initial booking, these client profiles serve as hubs for all critical client data, including their location, referral source, first and last appointment, and more.
This data allowed Evolve to understand where they should open up new spas and what new products, services, and membership programs they should start providing. They also used referral source analytics to optimize their marketing efforts.
Their management platforms’ reporting and optimization benefits carried over to Evolve’s employees, as the software allowed them to optimize the staff schedules, effectively manage waitlists, generate precision commission reports, and calibrate training needs based on demand.
It’s important to note that only the best management solutions offer these data-driven features. If you’re interested in seeing the impact they’d have in your spa, Jennifer recommends you make a deliberate effort to vet potential providers against this criteria.
Finally, Evolve recommends applying this tech-forward approach to your lead-generation and booking practices. Instead of relying on traditional awareness tactics and over-the-phone booking, Evolve rolled out new online booking functionality on their website. This made it easy for clients to book, buy memberships, and rebook when they wanted.
The additional lead source created a substantial bump in revenue — and the new feature made it easier than ever for clients to discover them online.
You might not feel ready to turn your spa into a data-driven business, but you definitely are. As an owner or manager, swimming in numbers comes with the territory. The key to success is adding the right tools to access and analyze the information you already have.
Boulevard was built to help your business achieve profitability at scale without losing an inch of sanity. See for yourself! Get a free demo today.