Fitness centers and gyms are no exception when it comes to profit sustainability. From financing to full operational processes—profit is key to continuously run a business. But with profit comes great marketing and business strategy.
Small or starting fitness gyms, similar to other businesses, must have a sense of their own market first before they can fully implement strategies that would bring in paying customers.
In this article, we’ll show you hacks that you can use in order to create a profitable business:
In our sales ebook, we talked about the importance of a flash sale. The question is: is it still effective in 2019, specifically for gyms?
Well, we are all aware that flash sales are commonly used by ecommerce and retail brands to stir excitement for their customers. But over the past few years, a change has come—even giant gyms like Fitness First and Anytime Fitness acquired this type of tactic. Every time they open a new branch, they would run a limited time flash sale to drive memberships from their audience. For small gyms out there having a hard time acquiring customers, this could be a good way to attract them! So better build your awareness on social media now, as majority of today’s consumers are online.
‘Refer a friend’ & ‘Get a Discount’ tactic
Another way of increasing profitability is through using a referral technique. You can probably post on your social media accounts or send a newsletter to your customers saying that if they ‘refer a friend’ to sign-up and workout, the customer will ‘get a discount’. Genius right?
Review. Retain. Remove.
This one is just simple. The rule is just to follow the 3 R’s aka Review. Retain. Remove—here’s how:
> Review – Look at your current strategy and review ALL of them.
> Retain – Separate the ones that has given you good ROI. If for example you’re using “flash sales” and you’ve seen that it has helped your business gain enough profit, then retain it.
> Remove – Not all strategies are applicable for fitness businesses. If there are tactics that aren’t working out, remove them now.
Diversify your services
Gym-goers don’t like getting stuck in one type of workout. If you’re a gym that specializes in muay thai, try to incorporate at least a weight-loss program on the side. If you’re a taekwondo center, don’t just rely on group classes. Some of your clients will prefer having a personal training. It’s all about adjusting to the needs of your customers, as long as they’re doable and in reason. Your best customers will appreciate you more when you give them a variety of services they will enjoy!
Hire digital influencers
You may have already heard of influencer marketing. But if you haven’t yet, it’s about the use of social media influencers to promote your brand products and services. There are so many fitness businesses that benefit a lot from working with influencers (KOL). Most businesses now rely on influencer marketing platforms to assure that they are working with real and verified influencers, while other brands prefer manually searching for them.
Some of these tips may seem obvious. But the whole point of the insights given above is to show that profitability isn’t just about the “money growth”. It’s also about being creative, exploring different tactics, and building a gym where your customers will enjoy and have fun!