Looking to Improve your Conversion Rate?

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Welcome to this week’s newsletter,

I had a conversation with a new client of mine earlier in the week, who was looking for help with her conversion rate.

She has no problem getting leads into her business - she gets between 70-90 people a month buying a trial class for £10.

However the problem she has is that on average, only 10 of these people are converting to regular clients.

That’s less than a 10% conversion which I don’t need to tell you, is not good at all.

You should be aiming for about a 75% conversion rate from trial to client.

In today’s email:

• Are you attracting the right people?: Is your niche, niche enough?

• Making it work for you: How to pitch your welcome offer correctly.

This week I wanted to talk about the message you’re putting out to your audience and if its speaking to the right people.

Its a well known fact that you need to make your marketing talk to the right people to be heard.

If you’re trying to attract 20 year old women into your classes you’re not going to be talking about aches and pain and menopause issues.

Likewise if you’re wanting to attract 55 year old women you (probably) wouldn’t be shouting about the high intensity, sweaty power yoga you’re offering at 6 in the morning.

What about the types of people within your demographic though?

Not every person in a certain age bracket is going to be your ideal client. You need to consider other important factors.

Are you attracting the right people with your marketing?

My client’s studio is very popular, she has no problem keeping her clients once they join, and she gets a good price for memberships and classes.

But at such a low conversion rate, she is having to work really hard each month to bring all these people into her business to enable her to get her target of 10-15 new clients.

At the desired 75% conversion rate she should only need 20 people on a trial to get 15 sign ups.

So what is she doing wrong?

It’s quite simple, her studio is not a cheap and cheerful studio, quite the opposite.

Her members pay between £16-19 per class.

Here’s the issue, with the £10 trial class she is attracting people that are happy to pay £10 for a class, but not necessarily £16-19.

Once they have done their trial class they aren’t interested in sticking around at the higher price.

Also because they’ve only done one class, they haven’t forged any kind of connection to the studio so can’t see the value of the membership price tag.

There’s too big a difference in the trial to continuation price.

The fix?

There were a couple of changes that we decided would be a better way forward for my client.

The first was to remove the trial class altogether. The price and the concept was all wrong.

She wants to foster a nurturing environment for her trialling clients, so instead she is going to offer a trial pack/intro offer.

The price tag will be a little lower than if they were to pay for drop in classes and they will be committed to giving the studio a good try with 3-4 classes before being offered a membership.

She quickly worked out that with this new package she would only need 10-15 people on a trial to generate the same revenue as the 70-90 on the single class trial.

However now she only has 10-15 people to focus on nurturing into full clients (a much more realistic number).

Will it work for you?

Are you offering free or discounted trials for your classes/studio and finding the conversion rate is low?

You could be in the same trap as my client.

My steps for success

• Work out your current conversion rate of trial to client sign up.

• If its less than 60% you’ve got room to improve.

• Look at the price people pay to try your classes, and compare that to the cost of the equivalent as a regular client.

• If there’s a big difference, fix it.

• Don’t be scared to charge more for a trial. If your clients are paying you a certain price, why would you want to attract people that don’t want to pay it?

  As always implementation is the key to success. The aim of these emails is to get you taking ACTION.

Let me know what results you get from this at [email protected]

If you don’t already know me, my name is Emma Lovelock, I run an award-winning Pilates Studio in Hertfordshire, UK and I am on a mission to help other business owners in the wellness/fitness industry become more knowledgable in running a business and to give the tools and systems to make them more money, with less stress and save them time.

P.S. Whenever you’re ready, there’s four ways I can help:

• 90-Day Studio Growth Blueprint - Put a plan in place with my help, and ramp up your business’s productivity.

• If you want to know the 6 secret steps that every studio owner/fitness professional should know but probably doesn’t Watch this Free webinar .

• Monthly Coaching : Need some accountability in your business? Having a business coach is the best way to make sure you take REGULAR action Click here to find out more about my mentoring and coaching packages.

• Not sure what you should be doing to have a successful wellness business?Need some guidance? Book a 121 call and we can see how I can help.

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