Full Transcript
Hey Pat Rigsby here and in this episode, I want to talk to you about the value of your prospects and how understanding that can grow 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 til the end of this episode, because we have a brand new special offer exclusive for listeners. So stay tuned.
Let me ask you a question. What do you think you would do differently if every one of your prospects was worth, let’s say $1,200. Seriously, everybody who walked through your door to do a trial or a success session, or jumped on a zoom with you $1,200. Now that may seem like a lot, but let’s go through a quick exercise and maybe, maybe this will make a little bit of sense. So let’s say your average client lifetime value is about $2,400, you know, $200 a month for 12 months, $1,500 a month or 18 months, nothing crazy. $2,400. I have plenty of clients who have lifetime values that are many multiples of that. So that’s certainly an achievable number if you’re focused on delivering results through a great client experience, right? So if a client is worth that much to your business, what’s a prospect worth. Now notice I said, prospect in my world, we basically have kind of stages. A lead is somebody who may opt into your email list or somebody who gives you their business card, or somebody who joins your free Facebook group.
Basically somebody who says, Hey, I’m interested in this general kind of area, fitness, fat loss, sports, performance, whatever. And I’m giving you permission to follow up with me. Now, sometimes you may bribe them to do that with a lead magnet or whatever, but still that’s a lead. A prospect is somebody who actually expresses interest in your services, in your offerings. So if your average client is worth $2,400, what’s that prospect worth that person who gets to that stage of, Hey, I’m interested. Well, most fitness business owners that I know convert, at least half of the people that actually walked through their door. People who come in as a guest, people who come in for a trial or a success session, they convert at least half. So let’s use that number half of $2,400, $1,200. Right? So if every prospect was worth $1,200, how would you behave differently?
What would you do differently with that in mind? How would you think about those people differently? Maybe you wouldn’t just think about them as somebody who’s not really serious until they pull out a credit card. Would your follow-up improve? Would you confirm appointments better? Would you have a, you know, a cooler welcome packet? Would you onboard them if they were coming in for a trial you know, it at a much higher quality level, would you improve the level of the two way interaction that you have if they didn’t buy immediately? Would, would you follow up from there and, you know, address their concerns or would you just write them off? Right.
So, I mean, would you think of how, how you’re spending time with them, whether it’s on the phone or in the facility a little bit differently, would you smile and not see them is, you know, any sort of nuisance to distract you from the things that are important, but actually see them as the, the people who are important. Would you treat them differently when they walked in the door and not kinda, you know, give them half-hearted attention? Would you give them your undivided attention and be present? Would you send them a personal note after a training session or a text message to check in and catch them doing something right. And tell them how wonderful they did. You know, I mean just a few different thoughts there, right? Like things that might change, if you valued every one of these opportunities, let’s face it. Every perspective client is a valuable relationship waiting to happen.
They’re potentially a client that could pay for your services for quite a while. They could refer to you again and again, they might even be able to open some doors to you. That’ll make a huge difference in the health and success of your business. So when a new prospect comes along, think about them differently. They’re, they’re no longer just a name on a spreadsheet or, you know, just one other person who’s taken up a free offer. There are a great relationship waiting to happen. And if you approach it that way and think About not just the lifetime value of what a client is worth, and so what every prospect is potentially worth, but also the fact that you might only need, you know, a hundred, a hundred fifty, two hundred, three hundred clients at most. So, you know, just getting one or two new people, that’s a big deal. It’s a real needle mover to move you towards your goals. So that’s, that’s my advice to you understand what every prospect is worth and treat them accordingly, do that. And you’ll watch your business grow.
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