by cabelmcelderry | Oct 19, 2010 | Personal Trainer Marketing, Personal Training Business Tips, Selling Personal Training
I see a lot of new people from last weekend’s CanFitPro Calgary conference are joining Profitable Personal Trainer this week. I figured it was a good time for a little post on mindset. First let me say welcome, I hope this information changes your life as much as it has mine.
I’ve said this plenty of times, there are days I Have doubted it and I am sure you have them too but it is entirely true: This industry CAN provide any lifestyle you want if you are willing to do what it takes to make it happen.
What’s your number?
Look, it’s ok to talk about money, you don’t have to be a greedy person to be conscious of the financial means you need to live the life you deserve. In our society money=freedom, the freedom to spend each day with your children like you should, the freedom to see and experience beautiful things in the world, and the freedom to help a neighbour in need anytime and anywhere. What’s your number, how much money do you need on a monthly or annual basis to accomplish these things. To succeed at anything you must first know where you desire to go.
Plan backwards, start at the top.
Take your dream, your number, your big goal and the try to break it down into a few things. What things would need to happen to even get you close? For example if you wanted to earn $1,000,000 a year you can divide that into months ($83,333), and even into weeks ($20,833). Let’s say your average training session is $60 and you can complete 40 per week ($2400). Even with that basic info I now know I need to work toward getting 10 trainers to do exactly the same as I do to generate a million dollars in sales, after their wages that number will likely be slightly more than double if I personally wish to earn a million dollars. This may sound like a daunting task but continue to break it down. Do you think with all that you are learning from the Profitable Personal Trainer you might be able to get 5 trainers to complete 40 appointments per week each in the next 1-2 years? (If you answered no you need to read more of this website now.) If I could guarantee that you can personally earn $500,000-$1,000,000 a year for the rest of your life with a 5 year plan doing what you love to do, would you be excited? That daunting goal now may not seems as bad, you must reverse engineer from the final result to where you are, without that clear path you will NEVER reach that goal, that is a fact.
What are you willing to invest?
I hear people talk about commitment, how committed they are to growing their business, how they want to do this, but would you bet your last dollar on your commitment? I hear people say they can’t afford to invest in tools to help them, to hire people, or to use an expert to coach them, but can you really afford not to? I’m not saying you should carelessly throw around resources but if you are serious about success at some point you have to be prepared to go ALL IN. This might mean going on a social hiatus and burning the midnight oil, it might mean giving up the finer luxuries for a time to close the gap on some assets. Whatever it is just remember this industry CAN provide any lifestyle you want if you are willing to do what it takes to make it happen.
by cabelmcelderry | Aug 26, 2010 | Personal Trainer Marketing, Personal Training Business Tips, Selling Personal Training
[youtube]http://www.youtube.com/watch?v=67omfKuUH-g[/youtube]
by cabelmcelderry | Aug 24, 2010 | Personal Trainer Marketing, Personal Training Business Tips, Selling Personal Training
Let’s face it, most personal trainers are not great salespeople, and they don’t want to be. I understand that and I’ve been annoyed the same way you have by numerous pushy salespeople. But the truth is if you are meeting new prospective clients and 9 out of 10 are not signing up you’re working really hard but not nearly maximizing your profitability. Trust me one of your competitors may be doing a better job, but you don’t have to let that happen.
Anyone you have met with, are about to meet with or who is currently your customer is much more likely to purchase something else from you than a new person that you haven’t met or is brand new to your list. This is why it’s critical to not let them get away and to ensure you close as many deals as possible. By striving for that 90% consistent close ratio you don’t have to do any more sales than necessary to enjoy the best your business has to offer.
Now rather than write about how to sell I’m specifically going to focus on the situations at the end of the consult where a client either says no, they’re not interested, or they have purchased a much smaller package than you felt they needed or would have licked.
When a client says no…
What this really means is you haven’t earned their trust enough by listening to their fears and reflecting the necessary info to allow them to determine they can overcome their fears with your services. Try reinforcing them with sincere questions; if they don’t do this how will they overcome <insert> fear? If you can keep them connected within this conversation you may then earn the opportunity to present another offer.
The Secondary Pitch…
At some point a client will always say no, if you are able to continue to discuss with them you may get the chance to present a second offer. If not by email, phone or mail a few days later (is not as good as live but) can also be a great opportunity to provide them another offer. The reason this may work is if you have earned their trust they may still have said no because the offer didn’t appear or convince them it contained enough value. These secondary offers need to be quite aggressive and show lot’s of obvious value. Things like: 2 weeks of personal training for $2, 21 day free bootcamp, 1 month of semi-private training for $47, etc. Pour on the value; make it impossible for them to say no. The point is you know once they try your service and feel the difference they are going to say, so what are you willing to do to attract customers? (This is why it’s also important to raise your rates so you can factor in these kind of deep discounts at times, but that’s another post.)
The Add-on…
Another common situation is people come in with an idea in their head about how much your service should cost. You may go through the whole process smoothly to discover what you feel they need to reach your goals costs more than what they were committed to spending. If presented the right way to show the value you may be able to add-on extra items to the package for a few dollars more moving closer to the target you had hoped for. Even beyond the first appointment it’s good to make a few notes of what you feel would be best for the client to reach their goals and after a couple of sessions you may present a couple of package add-ons to them and find them more receptive. Trust and value are the two key limiting items when it comes to purchases. You up both of these and people will respond.
By using secondary offers and add-ons you can easily hit your 90% close ratio, the extra investment you make is easily worth it when you consider how costly and difficult it is to continually attract new fresh targeted leads.
by cabelmcelderry | Aug 19, 2010 | Personal Training Business Tips
As an entrepreneur you will get punched in the face, question is will you get up off the mat after?
Being an entrepreneur isn’t easy; a lot of days are not fun. Today seems to be one of those days. But that comes with an important message, if this was easy everyone would be doing it, you need to be prepared to take it some days square in the nose. It’s funny a while ago one of my mentors sent me this book by George Foreman (Knockout Entrepreneur), admittedly I never finished it. I tried and tried to read it but just didn’t care for it; it was pretty basic and referenced a lot of the expected clichés. Today however it kind of fits.
Here’s the thing about being an entrepreneur, it doesn’t come with a road map or an instruction manual, you really are an adventurer and explorer working to find your own way. When times are tough or you experience failures they can be really trying but you really have two choices give up or persevere.
To be honest once you “get it” you may never look forward to failures but you easily begin to recognize their importance. Each failure means you’ve been hit with or identified a major problem. We refer to these problems as “holes in the bucket.” As an entrepreneur your job is to generate a cash machine and figure out how to provide a great, sustainable, long term product that provides you and your team income to live the life that you want. Unfortunately as you will learn building a bucket with no leaks isn’t easy, how many buckets have you seen with dozens of moving parts?
So today I’ve taken 2 or 3 big consecutive square shots in the nose, my eyes are watering, my lip is puffy at present I don’t even have the answers but I can tell you one thing is for certain. I am getting up off the mat I am not out of this fight, are you?
“You must never confuse faith that you will prevail in the end-which you can never afford to lose-with the discipline to confront the most brutal facts of your current reality, whatever that might be.” -Admiral Jim Stockdale
Whatever it is, however hard it gets, the days you feel like you “can’t” believe me when I say if you just get up off the mat you are closer than you would ever believe to your next big breakthrough to success. The risk is high but the freedom of being an entrepreneur will always be worth it.
by cabelmcelderry | Aug 17, 2010 | Personal Trainer Marketing, Personal Training Business Tips, Selling Personal Training
When you first become a personal trainer it’s difficult to grasp that you really need to be an effective marketer to turn this into a career path rather than a hobby. It has taken me a long time to really understand what it means to be a marketer. Lucky for you I tend to be a little stubborn and seem to learn slower so by continuing to read and attend Profitable Personal Trainer events you will learn and progress much faster than I have.
Many small businesses use the dartboard method of advertising and promotion.
Today let’s discuss one of the main differences of advertising or promoting your business and marketing your business. Many personal trainers (and for that matter small businesses) typically advertise or promote with what I refer to as the dart board method. Let’s try this haphazard idea and see what happens, it either succeeds or fails which determines whether they do it again or if they move on to generate a new idea.
Now if you are marketing your business the process is different, it’s methodical, it’s a system and it removes a great deal of emotion in evaluation of the results. It may start with the same idea, but the application is never haphazard, it’s calculated, focused, systemized and includes a series of events rather than just one event. Let me try to explain.
Let’s say your latest offer is a 21 day boot camp program. Many trainers might look at this and say, “I normally charge $200 I’m going to offer this for $150, that’s a great deal.” Truth is no one will care; there are deals available every day. Let’s say you run it anyways and happen to sign up 5 people and they love your program and all of them stay with you after at $200/month. You just generated $1000/month more in sales, seems successful right?
An astute marketer would make this same offer with a series of events that will greatly out perform the above offer, watch what happens. (To make it even more interesting this trainer is only going to keep 80% of the people that take advantage.)
Initially they offer the same 21 Day program for free, but only for the first 8 people. It should be easier to attract the 8 as it’s now entirely free. So no money up front but they will keep 6 which now produces $1200/month after the initial 3 weeks.
The program doesn’t stop there a subsequent ad or offer is released saying, “Last week we offered you a 21 day program free but only had room for 8 people, these spots were filled quickly. We are going to open up a new time slot making room for 6 more people at $87.” (This ad would be run whether they did recruit the 8 or not, the point is to motivate people to action by using an event, scarcity, deadline, consequence.)
This offer is still far less than the competitor trainer, and because of the use of scarcity in the first and second offer the people that were thinking about it last week are now pushed further to action because they are worried they will even miss out further. By recruiting 6 more people this trainer just added $522 in immediate sales and another 5 people per month or another $1000/month. Would you rather have $1000 up front and $1000/month or $522 upfront and $2200/month?
Depending on the continual response rate the marketer continues to squeeze customers from the prospect funnel with subsequent offers in a continual format. This is the difference between what most trainers do and what you should do. Each promotion should be a targeted series of events with an expectation for an outcome. Each offer needs to be extremely high value, use emotional language and provide deadlines and scarcity to push to action. But at the centre of all of this is a system, marketing your business once again requires systems. When it’s a complete system it’s never a failure because you can eliminate emotion and evaluate each response by the real facts and results. From there each new offer is just another version of this system; soon you will find yourself easily out promoting, out branding and out performing all of your competitors in a fraction of the time. The proof is in the pudding using these very tactics we’ve recently grown our studio’s monthly EFT by double digits during the worst months of the year for our industry and in a “poor” economy.
So are you going to continue to advertise or start marketing?
