If my studio has two class types, can I set up milestone automations based on the class type vs the total number of classes?

Yes, you can set up milestone automations by class type. The Number of Visits condition lets you select the number of visits on a specific payment option, class instructor, class time, class name, or location.
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For example, you can send an email when someone takes 25 yoga classes and another email when they hit 15 cycling classes.