It astounds me that so many trainers think that there is only one way to get more money into their business...Get more customers. It is the most common bait used on Facebook. "Get more leads" "Add more customers to increase your bottom line"
But the fact of the matter is, do you really want more customers?
It sounds great, but just adding more customers might not make you happy
(stick with me here as this is probably very different to what the gurus are telling you).
The fact of the matter is, unless you've got the right systems in place, adding more customers to a business model not ready for that growth is just going to make things tougher.
If you're the only one coaching in your PT business right now, it means you not only have to find a way to fit them in 2-3 times a week, but it means you have to do their diet, their programming, answer their calls, help when things are tough, take on their emotional support, get them through the tough times, chase up their payments, deal with their cancellations and much more.
Maybe right now, you can handle that...but for those who might not be able to, I want to let you know that it's not all sunshine and roses.
However, It's not all negative. I'm here to tell you that there are other ways.
In fact, two other ways to make more money and add some $$$ to your bottom line.
This email is going to show you how to do exactly that.
In business, there are three ways to make money.
1. As mentioned above, you can add more customers. 2. You can sell to your existing customers more frequently (new and unique offerings) 3. You can raise your prices for existing customers (yes...scary, but it has to happen at some point)
Firstly, let's tackle selling to your existing customers more frequently. What could you add to your current clients' lives to really make things amazing?
Have you though about having a bronze, silver or gold package? (or even a BLACK with absolutely everything they could ever need?)
What can you give them that will solve more of their problems? The higher the package the better the more support they get.
Do they want meals delivered for a more convenient way to prep meals? Do they want supplements to help with fat-loss/digestion/sleep at night? Could they benefit from mindset sessions? Could you offer a three part workshop focusing on results/training/nutrition?
Pull out a piece of paper and start to think of all the different ways that you can offer something more to your clients and drop them a line.
As long as you're adding value, then this is justified...! .
Secondly, Raising prices for current clients. This is a bit of a scary one for most. And the reason is, most of us live in a scarcity mindset.
"What if they leave me...? I need that client to live." We run the worst possible scenario in our heads (most of which never happen).
The key to raising prices that I have found is a lot of advance notice, and the fact that you point out their loyalty to this point.
e.g: You might like to send the following:
"Hi <Customers name> , I hope you're really enjoying our coaching service and are pleased with your results thus far. I'm very excited as there is so much more to come!
As we continue this journey, I wanted to let you know about some small changes that are happening inside of our business over the next few months.
Our goal as an elite level coaching business, is to continually push and strive to deliver the best possible result to our clients. This means we are always researching and developing our methods forto ensure you can continue to get amazing results.
With an increased level of service, our pricing are too going to be increasing as of xx/xx/xx.
The following is an outline for our new pricing structure: $xx per session on our 12 week plan
As a sign of loyalty for your support up until this point, we are happy to offer the discounted rate of $xx per session for an extended period of , before all clients will be transitioned into the new pricing structure.
Thank-you for your support thus far and I cannot wait to help you reach the next goal in our journey.
Yours Sincerely, <Your name>"
The thing about raising prices is that most people are scared.
But with the cost of living increasing, unless you're raising prices every year, you're actually losing out, and at some point you will need to raise them.
Also on top of this, if you are indeed continually levelling up and providing a better service that provides better results, it's only fair that you do indeed raise your prices.
and here's the biggest secret of all...if you're providing a really great service, your customers won't actually be upset. Most will tell you that 'it's about time'...and as long as they see a value increase, they will honour the new pricing..!
So don't be scared.
And those that do leave you...weren't the right fit for you anyway. .
So where to from here? Well, I have just given you two different ways to add more money to your bottom line. Charge more for what you give and offer more options. Now it's up to you.
The best thing you can do now is to ask yourself some questions:
- Where is my value?
- What else can I offer?
- Why am I different?
- What else can I help with?
These simple, yet powerful questions hold the key to increasing your value in the market place.
Let me know how you go and shoot me a comment below if you have a win ;)
Kind Regards, Hayden