Fitness Business School – Generating Quick Wins Pt 1 – Deal of the Week

Full Transcript

Hey, Pat Rigsby here, and in today’s episode, we’re gonna do the first of a short series of ways to generate quick wins in your business. Let’s get started.

Welcome to the Fitness Business School podcast, the show for fitness business owners who want to grow their income, increase their impact and improve their lifestyle. Be sure to listen to the end of this episode because we have a brand new special offer exclusive for listeners. So stay tuned.

So recently I was looking through my Google Drive and reviewing a bunch of things that were resources that I’ve created over the years, tools that we’ve had, sales pages, you name it. And my Google Drive is just crammed full of about three terabytes of stuff, whether it’s courses I’ve studied or things that I have things that I’ve developed myself or things from our team or whatever else. And I thought, man, wouldn’t it be cool to be able to pull out some things and help you, the
listener, get some quick wins, some things that we’re seeing work right now, some things that have worked in the past and could easily be kind of retooled a little bit and deployed with great success. So I wanted to use the next few episodes to share a few of these potential quick wins for you and your business.

The first one I wanted to talk about is running your own deal of the week. Now, if you’re not familiar with things like Groupon or Living Social I mean, Groupon still exists, but a number of years back, it was an absolute monster. We saw some clients of ours add 500, 700 as many as like 1200 people
buying their offers. They’re basically their front end offers through Groupon. So there’d be a cash influx. You’d have a bunch of people who got a voucher who could potentially come into your business. Now, obviously, 1200 people were never gonna use the thing they got. It’s like a gift card in many ways
because not everybody utilizes stuff. The idea of having to go in and actually work out and all that may have sounded better in the moment when they’re making an impulse buy.

But the premise worked really, really well. And what it came down to was there were a few elements that, that were just super powerful when used together. The first was there was a little bit of direct response marketing, right? There’s a headline, there were some bullet points. There,
there was a strong call to action. There was a deadline. So it was kind of a mini direct response sales page, but it had really strong urgency. It had Hey, if you want to take advantage of this deal, this front end offer the deal expires on Friday, or sometimes the deals early on were only one or two days. And so we would see how powerful this was. And sure, not all these buyers were gonna be great clients, but they were paid buyers.

They were people who would come in and experience what you had to offer. And in some cases you know, this was gonna be the, the impetus to them actually kind of taking action. They had been thinking about it for a while, and this kind of offer was really the, the tipping point for them. So, one thing that you
could easily do and, and we help people do this, even dating back to the Groupon days, because, Groupon would take a decent sized chunk of the money. So some people that actually had access to an audience would simply run their own kind of internal Groupon and not have to split the revenue. They may not have the, the volume of traffic that Groupon would have, but they wouldn’t have to split the revenue. They could use that offer to kind of monetize the list they’d already built.

And so that’s an opportunity that you still have at your disposal right now. You could easily go out and put together your kind of front end offer, but beef it up a little bit add some bells and whistles, a nutrition coaching session, a free stretching session, a healthy eating out guide. Just simple things that you could either tack on that just take a little bit more time or labor or assets that you already have that you just dust off and make sure that it’s a paid
front end offer that different than whatever you’re selling regularly. So if you’re selling a 28 day program for $49 or something like that for group training, then you need to reframe it, right? Like you need to come up with something. I don’t care if it’s cheaper, if it’s more expensive, it just can’t be the same
because it has to be something that’s different that you can draw attention to that has an expiration date.

So if you put this package together, now you run it out to your email list, all the leads that you have, you share it with all the people in your connection database. And if you’re unfamiliar with the connection database, I’ve certainly talked about it in a few other episodes. You ask all your clients to share
it with the other people in their lives, and then you just run some social media traffic to it. You just pay to promote it. It’s one of those few instances that I would tell you, Hey, go out and run paid traffic to an offer because there is an actual expiration. There’s some urgency that gets people to buy now. And it’s tough to
run ads to programs that require some sort of commitment that aren’t an impulse buy. If there’s no urgency, because it’s a commercial, right?

It a commercial. They’re not on social media shopping for a gym, gym membership, right? Or for a training program. So if you wanted to run something like this, it still should probably be low enough to feel like an impulse buy. And there are different ways that you could do this. You could run a 14 day type
of program, you could do a punch card type of program, but if you could keep the offer under $50, I’m pretty sure your conversion rate would go up. ’cause Again, it would be an impulse buy. It would just be something that somebody would say, Hey, that sounds good. And they’re not gonna beat themselves up if
they don’t use it. But you are getting a buyer, you are getting not only the the monetary aspect of this, but you’re getting somebody who’s definitely a more qualified lead.

They’re willing to get their method of payment out and say, Hey, you know what? I’m interested in this enough to pay for it. Now, sure, you may have to communicate with them about usage, but if you also say like, I’m recording this in October, if you also say, Hey, you can use this anytime for the
next 12 months, which was basically how a lot of the Groupon stuff ran. They can sit here and think, well, hey, I’ll use this in January. I’ll use this in February. I’ll use this to execute my New Year’s resolution. I’ll gift this to somebody at Christmas. So you have other things that they can do with this. So you’re gonna
get a lot of buyers that if you’re looking for a cool way to monetize things that you’re already doing, things that you already have to monetize the audience that you already reach, and to get a few other people with a front end offer that you could actually run traffic to and likely break even, or even potentially be profitable.

Then running your own deal of the week type of offer, I think is a huge win. Now the last thing that I’ll say about it is there were a lot of one day, two day offers. If you’re gonna run traffic to this, and if you’re gonna ask people to refer people to this, the only way that you can run this effectively, unless you’re
giving it a longer lag time, like you’re giving it a whole week, and so there’s a deadline at the end of the week, which certainly is not that long, would be if you’re leading up to it and you’re prepping people about it, it’s almost like a Black Friday sale then where people know it’s coming, so they’re anticipating it.
So if you’re looking for a quick win, running your own deal of the week is a great opportunity that you can pull outta the toolbox and use to grow your business.

Thanks for listening to this episode of The Fitness Business School.

Before you go, I have a quick announcement:

One of of the things that we’ve been doing with our current clients is taking them through this Ideal Business diagnostic and really what it is, this checklist that allows you to pinpoint exactly what your business needs next so you can keep improving, keep growing, and build a business that you love to own, one that pays you well, one that allows you to have the impact you wanna have and one that allows you to have a lifestyle that you truly enjoy.

In this diagnostic, we walk through everything and we do an evaluation and can instantly pinpoint what you need to do next to build that business that you want. I’m going to extend this opportunity to get on with either me or my team and take you through this evaluation and fix your business’s most vital needs fast.

So if we take you through this, you’re gonna be able to make those vital changes that you need to finally have what I call your Ideal Business. If you’d be interested in going through this entirely free, risk-free diagnostic with us and learn what you already have in place, what you’re doing well and where are your greatest opportunities for rapid improvement are just shoot me an email with diagnostic in the subject line to [email protected].

Again, an email to [email protected] with diagnostic in the subject line will get you scheduled and take you through this evaluation to help you build the business you want.