Archive for September, 2011

Who Is The Most Expensive Customer?

Who Is The Most Expensive Customer?

Posted on 24. Sep, 2011 by .

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  Believe it or not, the answer to this question is the new customer! Fitness entrepreneurs typically don’t believe this because we are always focusing on traffic and lead generation, but that’s not normally what makes money. If lucky it creates a customer, but the real money comes at a later time. In fact, traffic and lead generation is usually what costs us the most money. Alright, wait. I’m not telling you to not generate leads, but for the sake of this article let’s focus on current customers and subscribers.   A very crucial component to the success of your fitness business is the relationship you have with your customers. You can offer the best training in the world but if the atmosphere of your facility and trainers suck, then so will your profits. There’s a marketing strategy called Personality Based Marketing. Understanding this strategy is the difference between making $50 or $10,000 a month.   Personality based marketing is about building relationships with customers. Getting new subscribers on your list isn’t that difficult, but getting them to actual open and read your email and purchase product from you is a whole other ball game if you don’t have a […]

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Nuggets From Mobile, Local and Social Summit

Nuggets From Mobile, Local and Social Summit

Posted on 23. Sep, 2011 by .

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Here are just a few nuggets I wanted to share with you Be transformational not transactional   1) Time management – Which is energy management, don’t focus on to do list instead focus on to be list. Should also have a NOT TO DO LIST 2) Procrastination 3) Lack of Focus 4) Fear of success/ Failure 5) Lack of funds 6) Accountability   Call your employees “Valued Partner” ====> tell your employees It’s always better when someone sells you than when you sell yourself     1) Financial 2) Social (more you give the more you get) 3) Educational 4) Relation Capital (your relationships)   1) Determine The Client’s Currency (what’s important to them, ie: weight loss, more energy decrease meds 2) Establish Key Metrics from the beginning 3) Establish a reporting schedule and medium. 4) Know your clients. Congruency is EVERYTHING   LTV (Lifetime value) + LTR (Lifetime relationship) = Earn more and work less If you make $388K/year,  you are in top 1% in the country If you make 100K/year, you are in top 10% 9 out of 10 businesses fail after 5 years.   1) Visualize the whole process 2) Outline the plans in bullets 3) Story […]

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Time Is The Greatest Metric Of All

Time Is The Greatest Metric Of All

Posted on 23. Sep, 2011 by .

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TIME IS FREE, BUT IT’S PRICELESS. YOU CAN’T OWN IT, BUT YOU CAN USE IT. YOU CAN’T KEEP IT, BUT YOU CAN SPEND IT. ONCE YOU’VE LOST IT, YOU CAN NEVER GET IT BACK. – HARVEY MACKAY Fitness trainers spend all this time working out package pricing for their prospects and calculating their income based on new sign-ups. They labor endlessly online to track metrics like website bounce rates or the time people spend on their websites. These metrics are all important ways of measuring how successful your business is, of course, but are you measuring the most important metric of all?   If you knew what your time was worth, maybe you’d think twice before shooting the sh*t with your coworker over coffee and donuts for 45 minutes instead of focusing on your business. If you knew what your time was worth, maybe you would tell your sister you really can’t talk during work hours when she calls to tell you about the latest “crisis” of being unable to find the right outfit for her work function. If you knew what your time was worth, you’d spend less time examining your physique in the mirror and more time out […]

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Building a Responsive and Loyal Herd of Customers

Building a Responsive and Loyal Herd of Customers

Posted on 22. Sep, 2011 by .

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Usually when the word HERD is used one thinks of a large group of animals. In this case, that large group of animals is your customer base. After building your list you want to produce a responsive and loyal herd of customers. You know, ones that stick with you like a herd of sheep or coyote. Ok, well not as slow as sheep or as mean as coyote, but you get what I mean. Keep on reading about how you can create your herd.   Personality is the first component in developing a responsive herd. Some business experts argue against creating a brand name based on personality, but in the fitness industry where you are providing a service personality is key. Your customers need to like you, your staff, and your service, period! Next, let your herd know what your fitness philosophy is. I’m not talking about how you make money, but your core beliefs about fitness. Expressing your belief is a great way to make an emotional connection and will ultimately result in your customers feeling an attachment to what you are doing. Do not sugarcoat your belief. At my gym and boot camps, customers know my exact beliefs […]

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