As co-owners and managers of Halo Hair Body Beauty, it’s important that we get our formula for success just right. Our livelihoods depend on it.
Like many successful salons, our approach and values are at the heart of our success. We are motivated, driven and genuine in our approach and beliefs, and this is something our staff respond to and our clients see reflected in everything we do.
Our focus is on always giving our clients the high-quality experience they deserve, but providing great service isn’t the only thing that affects how well our business performs. We also rely on a range of systems and technologies to help us grow our business and ensure we continue to be profitable.
These systems streamline our day-to-day lives and give us clarity around exactly what our strengths and weaknesses are, so that we can make critical decisions about how we run our salon. They provide insights into things like why revenue might have dropped slightly this month, why clients are buying so much product at the moment, or why a particular marketing campaign was a success.
When we first opened our doors three years ago, we had some big expectations about what we wanted to achieve. We are big planners, so we really try to forecast where things will be in six or twelve months and take on board our past learnings to improve the future. To achieve this, we need to be able to have a clear vision of where we are going, and Scorecard gives us this.
If, like us, you’re looking to increase your profits, Scorecard is the perfect way to keep an eye on how you’re performing, and on the trends of the industry as a whole. It can be reassuring to see that your peaks and troughs are in line with what everyone else is going through; whether it’s something just you are experiencing, or whether the whole industry is affected.
You can use Scorecard to compare your current results with how we’ve done in the past, without having to call your accountant or print out a hundred different reports. Armed with this information, you can make informed decisions about everything from your marketing strategy to your overall business plan. The more you use Scorecard, the more you get out of it.
For example, a year or so ago we could see in Scorecard that our client retention was dropping. Clients had started stretching out their appointments by as much as eight or twelve weeks. This had a big impact on our business. We knew we needed to do something to get them back every five to six weeks.
We decided to offer a special incentive to get people back through the door. We started offering our clients a free styling product if they rebooked for two or more appointments. There was an immediate spike in client retention, so we knew we were back on track! We now provide a slightly different offer every six weeks so things don’t get stale.
Scorecard shows us exactly how much growth we have achieved since we started running these incentives. Our client retention is now back in line with the industry average, and our overall business growth has been phenomenal. Since we started using Scorecard our average monthly revenue has increased by $15,000 a month.
With potential like this, what are you waiting for?