It’s that time of year again! On Black Friday, just about every business establishment is offering deals and discounts and raking in bucket loads of money. As a fitness studio or gym what are you doing to get on this bandwagon of profiteers?
In this article, we will discuss a fool proof strategy for pulling in the crowds during Black Friday with a trickle down effect to last throughout the year.
Preparing Your Gym for Black Friday & the Holiday Season
A lot of businesses have the euphoric misconception that they are providing superior services. Unfortunately only 8% of their customers will agree with this idea. Don’t be that gym!
Here is a list of areas which most affect the image and customer retention of any gym:
- Friendly staff / trainers / instructors
- Good-quality equipment
- Variety & schedule of classes
- Clean facility
- Good customer service
Take a close look at whether you are over or under performing in these areas. For feedback in this regard, pay special attention to the Detractors. Detractors are those who are not happy with the services provided and are spreading negativity around. Most common Detractor complaints are:
- Too crowded/had to wait for equipment
- Equipment is broken
- Locker rooms/showers are dirty
- Not enough variety in classes and timings
- Not worth the money
Address your Detractors, close the service delivery gap, convert them into Promoters and rewrite your growth strategy.
Focus on Membership Growth
Focus on what’s important: Profitability!
You have taken steps towards member retention now it’s time to think out-of-the-box to drive in new memberships.
Check out these gym membership stats to get an idea of where your gym could be headed for with the right membership strategy.
- Between 2008 and 2018, memberships have grown by 37.1%, while the total number of club-goers has increased by 34% [IHRSA 2019].
- The total number of health club visits has also increased, amounting to 6.1 billion visits in 2018, up from 4.3 billion in 2008 [IHRSA 2019].
- 44% Gym Members workout with a partner (IHRSA).
These stats on gym membership show that there’s plenty of potential for growth.
Here is how to go about it:
Step 1: Drive Gym Membership Numbers Up, This Black Friday
Discussed below is a working strategy to boost membership numbers during Black Friday.
Suppose your Average Monthly Gym Membership Fee is $35. Set up a Black Friday deal applicable to partnerships only.
During Black Friday, price new memberships as below (increasing or lowering based on your actual fee):
- First month (December): $5 for each partner (access throughout the day)
- Second month (January): $15 for each partner (access off-peak hours during any half of the day)
- Third month (February): $20 for each partner (access off-peak hours during selected half of the day ONLY)
- For the rest of the year, members pay $25 per month instead of $35 if they pay lump sum.
This strategy solves the problem of member turnover, monetizes your gyms off-peak hours, increases foot-fall to the gym and pulls in the extra buck through the partnership clause. The large influx of revenue you’ll see due to lump sum payments can then be invested to further improve your facility.
Step 2: Increase Sales with an Exclusive Product Promotion (Even If You Don’t Stock Products)
According to our research, product sales contribute up to 40% of total revenue for gyms, large or small.
This Black Friday, boost your revenue simply by signing up for RDX Sports club affiliation program.
Here’s how it works:
After signing up, ask your account manager to create an Affiliate account for you.
We will send you a branded RDX Sports poster with a QR code.
Have your customers scan the QR code to get a 5% discount, while earning you a 7% commission. This happens automatically so you don’t have to do anything other than enjoy the benefits of increased revenue.