How to analyze your data to identify opportunities for growth

The moment you’ve gathered the right data, you need to know how to use it to identify opportunities for growth. You do so by analyzing your data over time with baselines.

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Set baselines to keep track of your progress 

Import your monthly leisure business’ data to an Excel spreadsheet to set your baselines. These are the figures you start out with – the data you use to measure your results based on actions you take. 

Using baselines, you’ll know if your decisions have been successful over time or not, when looking at this historical point of reference. You can create an overview like the one below to map your data every month to keep on improving your statistics. 

Note that Briq’s insights also show you long-term trends, so you’ll keep track of them without any extra effort. 

With a baseline you can compare your current figures to previous periods and benchmarks, and identify the most pressing and/or interesting opportunities for improvement. Based on this analysis, you can set SMART goals and lay out your action plan.

Find improvement opportunities

Having made an overview with your baseline, you’ll likely immediately see some figures you’d like to improve. For example, in the fictive case for Qirb Fun Center, the average order value is rather low, as is the average spend per person. 

To put that into perspective, the average order value for Briq Bookings merchants is between €80 to €120. On top of that, the average group size is 3.93, with an average spend per person of €28.

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Booking benchmark overview

Not all leisure venues have the same possibilities or capacity. This means that absolute figures will not give you the best insight into your performance. We’ve created a quick benchmark overview with our top-performing merchants’ percentages based on our +250 clients’ data for you to know what to aim for. 

• 70% of all bookings are online 

• 50% of website visitors click through to the webshop 

• 10% of webshop visitors convert to bookings 

• 1 in 3 bookings have an upsell 

So if your goal is to get 1000 bookings per month, you need 20,000 website visitors if you’re working with a 50% clickthrough rate and a 10% conversion rate in your webshop.

Conclusions about Briq’s sales insights

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Analyzing the data above, we notice that Qirb Fun Center almost never sells multiple activities or products per booking doesn’t take advantage of extras that could be added to the main activity being booked, like food, beverages, merchandise, or simply another round of the same activity. 

Thus, we can draw the conclusion that the main reason for Qirb Fun Center’s low average order value is that it mainly sells single activities and that the percentage of sold upsells with 13% is extremely low, in comparison to the Briq standard of 35%.

“Just think about it… What if all your single activity bookings would become multi-activity bookings?”- Eugene Lubbers, CEO of Briq

Conclusions about Briq’s marketing insights

Now have a look at the baseline overview below and the Qirb percentages we extracted from our Marketing Insights dashboard compared to average percentages.

As you can see, the number of online bookings for Qirb Fun Center is also low. This is a missed opportunity, because online booking is the best tool available to push specific deals (including those for special occasions like kids’ parties and business events), target specific segments like families and businesses, and sell more extras during checkout. 

The reason the number of online bookings is low lies in the low conversion rates that indicate how many website and webshop visitors actually book Qirb’s experiences. Probably Qirb’s website and webshop aren’t yet optimized to get the most bookings, push the best deals and sell the most extras.

It’s time to take action to grow your leisure business with data

Now that you know how to analyze your data to identify your growth opportunities for your leisure business, you can take action.
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To learn which actions to take, download our free ebook about using data to grow your venue.

Or perhaps you’d like a free consultation about what Briq can do for you? Then register here for your Briq account and we’ll get in touch with you as soon as possible.