PT on the Net Research

Corrective Business


Like body movements and exercises, occasionally your business needs some correction. And without the right direction, your corrective measures actually might do more harm than good.

We often see fitness business owners who, in an attempt to get more clients and increase their income, make major mistakes - like dropping prices. There’s always someone willing to go out of business faster than you. So, never, ever compete on price.

Learning Objectives:

  1. Discover three distinct activities for driving new leads into your business.
  2. Learn the importance of follow-up in regard to converting leads to clients.
  3. Review two factors that contribute to client retention and help to grow your personal training business.

Let me share the three corrective business practices you should be focusing on constantly. First I’ll share the “problem area” and then I’ll discuss the solution.

Problem #1: Not Enough Leads

You’re probably familiar with the situation of not having enough clients. It’s important to break that situation down into its two main problems: not enough leads and not converting leads to clients.

If you just trying and get new clients, you’re likely to make a series of common mistakes that won’t actually move your business forward. So, focus first on getting leads. The process of drivin new leads into your business consists of 3 distinct activities:

Your message is the most important part. Your message will determine what kind of potential clients you attract. Funny thing is, in marketing, you get what you ask for. So, don’t use a really "salesy" message just because you think it will attract a lot of people. You don’t want a lot of people. You want the right people. Put together a message that directly calls out the kind of clients you want to work with and the exact results you promise to deliver.

Secondly, you’ve got to get that message out there. You can spend a lot of money advertising. You can spend a lot of time on social media. But your most effective method of getting your message out quickly is through partnerships. Find businesses who also target your same perfect clients and figure out a way to work together. The key here is to make sure that your offers are integrated. For example, a dietician could easily refer clients to you as part of her normal service delivery process.

Third, you need to develop a lead capture mentality. Every time you get a new referral, or talk to a potential client, or put an advertisement out there, your sole goal should be to get their contact details (email and address) so you can follow up. Don’t let any potential client slip through the cracks because you didn’t get their info.

Problem #2: Not Converting Leads to Clients

Here’s where you can really make some corrections to nudge out your competitors and convert more leads into clients.

Studies show that the majority of people purchase a service after the 5th contact from a sales person. What that means is that if you only follow up once or twice, you’re missing out on the majority of sales. The good new is, your competitors are likely doing what everyone else is doing - only following up a few times.

So, create a system for continual follow up. Don’t give up when people say "no." Continue to follow up, provide value, and develop the relationship. When the time is right, those people will come to you first.

Problem #3: Losing Clients

In a business like yours, growth is a double-edged sword. One side is new client acquisition, and the other side is client retention. 

Retaining clients is the result of two factors:

The bigger your business becomes, the more important it is to focus on retention. The impact that losing clients has on your bottom line is much bigger than the impact of bringing on new clients as your business gets bigger. So as you focus growing your business and bringing on new clients, don’t forget to also focus on your service delivery.

First, seems obvious, but you must get results. In addition to getting results, make sure you’re tracking those results in a way that your clients can see them and be excited about them. There are great tools out there for tracking stats, measurements, before and after pictures, and more so that your clients can see their progress. It’s important for you to show them their progress and recognize it. Otherwise, since change is slow, your clients may not recognize the great progress they’ve made.

Second, create a community. If your clients only ever interact with you, that may not be enough to keep them around. Clients need to connect with other clients. They need to feel part of a tribe. They need to feel like they are better off for being part of that community than they are on their own. You can do this through various events, contests, and other activities that get clients mingling, working together, and even competing with each other.

Conclusion

Focusing on these three “problem areas” will do far greater good to get your business on the right track than just about anything else. Don’t get caught up in the latest crazes. Don’t go chasing rainbows and unicorns. When you hear of some new-fangled way of getting leads and clients, don’t forget the fundamentals.

Your business fundamentally grows (increases in revenue) in three ways: acquiring new clients, keeping more of your current clients, and charging more to existing clients. When things get tough, focus on one of those things before looking for the next whiz-bang thing.

You and your clients will be happier when your business grows through proper fundamentals rather than sleazy sales tactics, hope marketing, and desperate measures. Use these “corrective business practices” to make sure you’re focused on the right things each month. In the service business you're either the cheapest or the best. Which do you want to be?