We truly believe that education is the key to your salon’s success. We understand that the proper education will empower you to not just use Millennium for daily functions, but to also use Millennium to continuously grow your business.
with Growth Indicators
Understanding and keeping a forward focus on your business requires knowing 6 key indicators that go beyond basic revenue goals. Millennium is built around these indicators both through reporting, on screen visuals within the appointment book and register, and also within its goal setting module.
These 6 indicators are the foundation for success and predictable revenue growth in the future. Also, the order in which the indicators are listed has significance. It’s the order that they should be focused on. Notice focusing on new clients is AFTER you’ve perfected the other 3 areas of Frequency of Visit, Repeat Client Retention, and Average Ticket.
Frequency of Visit
The average number of times a client visits your business. A salon's average FOV is 5 times per year. Goals should be set to at least 1 or 2 more visits per year than your current average. Click here to calculate your growth potential.
Repeat Client Retention
This is a measurement of how well you are keeping the clients you've worked so hard to bring in and retain.
Average ticket is a measurement of how well each of your service providers is upselling and cross-selling services.
New Clients Per Month
This measures how well your client referrals, employee referrals, and advertising are performing.
New Client Retention
This is the key to continued growth and filling in the gaps created by the 15% attrition you will inevitably have with repeat clients.
The sum of RETENTION + AVERAGE TICKET + FOVINCREASE + NEW CLIENTS PER MONTH. It’s the total of the equation rather than something you can affect.
Millennium clients thrive in the industry because they understand and learn from these metrics. They know the tools, they know the numbers, they know the language to succeed. They all speak Millennium.
Check out some of the latest industry leaders and how they found their greatness with Millennium.