Fitness Industry: This Is How to Maximize Your Revenue Per Member - Allowing Members to Do AND Spend More

It's a tough time.

Running your fitness business in a Pandemic isn't something any of us ever expected. But, you're here and you're savvy. So, what do you do to survive?

No, more than that. What do you do to turn this thing around and thrive?

The easy answer: You learn how to maximize your revenue while giving your members even more.

The tough answer is how do you do that, really? That's what we're going to explore with this piece. Ready to learn how to take your wellness and fitness business to a whole new level? Keep reading… 

Here's where we are

Most of your members and potential members will:

• spend more on fitness and wellness products and services in 2021
• spend across more products and services than ever

People have learned a new approach to establishing and pursuing their health goals. They've learned to do more on their own, and they like having this ability. In other words, don't expect your potential members to give up that desire for choice and being able to stack their options when it comes to their health and fitness. They won't do it.

Instead, members want control, they want options, and they want more than just one go-to place for their health and wellness needs. But don't worry, this is an opportunity for you and an opportunity for them if you play your cards right.

Be careful with free trials and discounts

It's a smart strategy to offer free trials and discounts to get a little boost in your business, and using a free offer to encourage actions from your members and potential members is a classic marketing move. But, you have to be intentional with your offers and be aware of what you're doing.

Are you stacking too many free trials and discounts together? The danger with doing this is that you water down your products and services. Do it too much and your potential members might think of what you're offering as cheap, which never sounds good. Cheap isn't the same as affordable, cheap is all about the money and never has a fighting chance against the thing the customer might have to work a little harder to get but wants the most. Cheap is a holdover till they get there.

You don't want to be seen as cheap. So, pay attention to those free trials and discounts.

This isn't to suggest you can't ever use free trials, discounts, and other similar offers. Each of these can be a smart strategy when used correctly. And each of these can be a powerful tool when used sparingly, which adds value to the offer and balances the quality of your product and service as being affordable and still something highly valuable.

Offer incentives to do more

Instead of stacking too many free trials and discounts, try this: offer your members and potential members rewards for the actions you want them to take.

And don't just do this for your own gain either. Bring your members and potential members in on it like the partners they are with your business. Offer them rewards for doing things that help them. This is what we mean at GymWisely when we talk about building partnerships and building a business model on cooperation. Focus on your members and how you're going to empower them to make and keep the health goals they want and need.

What we do is offer our members rewards for investing in their own health. If our members have memberships with us, or anywhere else. They get discounts as incentives, requiring actions — in this case, actions related to their own health and the time, energy, and effort they're putting into it — to receive these rewards. We have restructured the model, making discounts something to be earned and not something simply given away.

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