I spent the last three days in Las Vagas with 29 really awesome fitness trainers from all over world who are in my 7 Figure Formula mastermind group.
The entire weekend was spent on ideas and strategies for getting more clients, automating your fitness marketing, retention and referral systems, growing and expanding your business and finding hidden profit streams in your business.
Here are some tips for you from the weekend mastermind. I had to leave out the BIG things we talked about. Add them to this list wouldn’t be fair to the members of my mastermind… You’ll get those when you become a paying member 😉
#1 Raise your rates and your value perception. Most trainers think that they can’t raise their rates because the competition is charging less and so they gotta keep their prices competitive.
Actually the biggest mistake you can make is to compete on price.
Eventually what’s going to happen is you and your competitors are going to drop your prices so low that you’re gonna have to work a TON of hours to make any money at all. And you’re going to end up with deadbeat clients who aren’t serious about getting in shape and just want to pay “gym membership” fees for personal training or boot camp. You know these clients… they’re flaky, never get results, always complain and never refer.
Position your business so that you can’t be compared “apples to apples” and in stead the other trainers are apples and you’re the egg because you offer additional features, benefits, and services INCLUDED in your pricing that others don’t.
#2. Craft your up-sell funnel. People who buy from you are seven times more likely to buy from you again and again. And the moment they buy is when they’re most likely to buy again.
Have up sell offers like a monthly nutrition seminar and group tele coaching for an additional monthly fee. Or access to your member’s only site packed with ton of content (video, audio, and copy) for an additional $19/month.
The list of up sells are endless and can easily add several thousand dollars a month in additional profits.
#3 Systematically sell PAID IN FULL programs. If you’re selling 6 and 12 month programs anyway. Start offering paid in full specials and blow up your bank account.
Here’s the deal…
If Mrs. Jones is gonna buy a 12 month program and has agreed to pay you $299/month for the next 12 month. Why not ask her right then and there if she wants to save 10% and get an extra month free by paying the program off in full right now?
Here’s are three BIG reason’s why PIFs are so awesome.
1. Cash is king. And I’d rather get it all now then over 12 months.
2. It increases client retention because when a client has paid for 12 months up front, they’re gonna stay for all 12 months.
3. Reduces headaches like collection when clients card is over drawn, lost or expired.
#4 Create a culture of referrals. Getting clients from “traditional marketing takes time, effort, and money. Sure, you gotta do it in the beginning when you first start up, but the most successful trainers don’t spend much on marketing because eventually they get tons of referrals.
Getting clients from referrals is way easier because it doesn’t cost you any money and it’s easier to convert referrals into paying clients because they come to you pre-sold.
But you’re clients aren’t gonna give you referrals just because. You gotta condition them, you gotta create a culture for referrals.
The minute a clients signs up with you, you should be saying this: Mrs. Jones, as I help you get what you want and help you lose weight, get in shape and have my energy. Can I count on you to help me get what I want which is to refer your friends, family and co-workers to me to help me reach more clients?
In addition to that, each month you should do something really cool for your clients and show them love and recognition like, sending them a hand written “thank you” card with a $10 starbucks gift card in it.
Or send a gift basket of some fruits to their work along with your $100 gift cards in them. Or send each client a weekly puff up text message or Facebook wall message letting them know how awesome they are.
These are things that get people to love you and want to refer you clients.
# 5. Plan your promotions six months in advance. Almost every trainer in my 7 Figure Formula Mastermind group is generating six or seven figures (and a couple are generating multiple seven figures) and every single one of them know what they’re going to be promoting or offering the next month.
If you’re running your business by the seat of your pants then you’re probably pretty stressed and feel like your business in unpredictable right? You won’t feel that way if you know that each month you have at least two promotions you can run that can bring you a predicable number of new clients or dollars.
Here’s my calendar for the current month that sits in my office… nothing fancy but it works. This exact calendar is also on my iphone so I can see exactly what I have going on today and in the month a head.
#6. Give to get. Have you heard of Zig Ziglar’s quote?: Help enough people get what they want and you’ll get what you want. Push the “free line” and start giving your best stuff away. Hold free conference calls for customers and clients of local businesses and give your best info away.
Hold free Saturday boot camps for the community. Create a free report with 7 of your best fitness and weight loss tips and ask your clients to send the download link to it to all their friends, family and co-workers.
Get 20 local people of influence to train in your place for free. Give them killer results, and show then a ton of appreciation, love, and enthusiasm and get them to talk you up to the community.
Here’s a bonus one for you…
These days you gotta be talked about, be known for something, have your market space polarized and create a tribe that acts as your sales force, and for that to happen you need over deliver, give results faster than promised and bring the ENERGY!
I’d like to hear what you think. Let me know below.