3 Easy Ways to Impact Your Bottom Line in 2018

By | Data, Daxko Operations, New Features & Updates, Payments, Programs | No Comments

We’re constantly releasing new features and services at Daxko – there are a few in particular that we don’t want lost in the shuffle! These three developments can make a major impact on your bottom line.  The question is: is your team taking advantage of everything Daxko has to offer?

#1 | DRIVE REVENUE WITH EASE

From personal training to swim lessons, sessions sold in bulk can be lucrative, but cumbersome to manage.  Our “Program Packages” feature within Daxko Operations was designed to combat just that.

Your members can now redeem sessions from an instructor’s smartphone or tablet while on the go, electronically sign once complete, and see remaining sessions at a glance. With these sales now organized within Daxko, you’ll enjoy the benefits of resource tracking, staff accountability, and reporting available at your fingertips.   To set up your sales sessions, contact our Customer Success Team today!

#2 | PROTECT YOUR MEMBERS…AND ORGANIZATION

If your business is still not processing EMV chip card payments, now is the time to make the technology upgrade.  Why?  Your business becomes liable for fraudulent charges if it isn’t equipped with the right hardware to process chip payment cards due to the EMV Liability Shift of 2015.  To protect your business and members’ data, Daxko now offers EMV-compliant card payment terminals that are fully integrated with Daxko Operations as part of our credit card processing services.  If you’re ready adopt the chip and prevent potential losses, click here to learn more about Daxko Payment Services or reach us directly (wtaylor@daxko.com).

#3 | UNDERSTAND YOUR BUSINESS BETTER

We’ve taken reporting to another level.  With the release of the Daxko Dashboards, you can visualize and understand your membership and financial data like never before.  Our user-friendly, interactive dashboards are embedded into Daxko Operations, giving you important metrics within a few clicks.  Enjoy tracking trends, analyzing performance, and making faster decisions with confidence and ease.  To learn more, click here.

 

 

You’re Likely Leaving Your Most Powerful Tool in Your Toolbox

By | Data, Industry | No Comments

Probability and the Power of Narrowing Uncertainty

When it comes to data and making decisions, most of us leave an incredibly valuable tool sitting unused in our proverbial decision-making toolboxes. PROBABILITY is the likelihood something will or will not happen. You may know it as “the odds”.

We don’t use this tool because we may not have wrapped our heads around what it means or can do for us – acceptable, we can learn. Some don’t use it because we think it’s no better than what we’re already doing – a lost opportunity, let me convince you why. 

So, what is this and why is it important?

In order to understand probability, do not search on the internet for the term until you finish this article. One of the first things listed in search results is how a coin toss has a 50/50 chance of landing on heads or tails. Herein lies a common misunderstanding of probability’s value. Yes, that’s true for a coin. It is not true in many other comparisons, and it’s temptingly easy to interpret equal chances as meaning the odds don’t matter or that answers are unknowable. This is far from the case.

There is a true story of a world leader deciding if he should authorize a now infamous military action and he says on record, “this is a 50-50 shot” while deciding. Only it wasn’t. The official probability calculations he held in his hand were a more than 63% likelihood of the operation being successful (less than 37% change of it being unsuccessful). He authorized the action and it was successful. According to those statistics, the best answer was “yes”. The odds were in his favor.

Question: So why did an experienced leader say it was a toss-up decision? He would have talked about those same odds much differently if he was using them to pick the winner of a sports tournament, with a clear favorite and an underdog.

Answer: There is a pervasive gut tendency to think things are either a sure thing or unknowable. The reality is much closer to likely or unlikely. Throw in a healthy dose of not wanting to be wrong, and we have a recipe for saying something can’t be known, when degrees of certainty are actually quite knowable.

I’d like to make the case that this affects everyone reading. We come to conclusions and make decisions every day based on what we expect to happen. We often do so with minimal information backing up those expectations. The value of harnessing probability is that it examines how certain you should be and how right you’ve been in the past. Probability tells you that if there are 4:1 odds something is likely to happen, the right answer is “yes!”, and not “maybe” or “I don’t know”.

Tune in next time to understand how you already have member retention and donor probability at your fingertips. Want more information on Daxko Decision Analytics? Click here to get an overview of all the exciting things we offer, including Daxko Vault and the Daxko Membership Index.

The Daxko Membership Index: The Source for National Nonprofit Trends

By | Data, Industry | No Comments

In order for any data to be meaningful, you need to know: “Compared To What?”.  

We all instinctively know this. When looking at data, it’s intuitive to ask questions about how that number was different yesterday, last month, and last year. We do this to understand if something is good or bad, growth or regression, trend or exception. 

Think about it for a few minutes more and questions similar to “How does this compare to other organizations like mine? To my field as a whole?” emerge. We ask these questions to gain of sense of relativity and approximate performance. 

The Daxko Membership Index provides a monthly view into national and regional membership trends based on the largest set of nonprofit operational data in the U.S. It empowers you to: 

  • Gain insights into market-wide performance
  • Benchmark your organization’s results against regional peers
  • Track and compare membership trends over time 

For example, in the July publication:

  • Membership is up nationally compared to the same month last year. That increase is due to: 
    • Comparative growth in the Midwest, Northeast and Western regions of the country
  • Membership is slightly lower nationally compared to June, the previous month. That modest decrease is due to: 
    • Seasonal trends in membership joins and renewals
    • Fewer terminated memberships compared to the previous month  

Daxko has the largest repository of YMCA data and we want to put that data to work for you. Our Daxko Index is just a piece of our overall data story. Stay tuned as we release exciting new data and insights for you and your team and visit https://daxko.com/decision-analytics to learn what else we’re working on in terms of data for your YMCA, JCC, or community center.