The average gym-goer today has more health and fitness options than ever before. As the popularity of fitness apps, streaming video workouts, indoor, outdoor and at-home options continues to grow, the modern fitness consumer is truly able to pick and choose the solutions that best adhere to their lifestyle, goals and fitness level.
These clients no longer need to plan their day around their workouts but rather have enjoyed the opportunity to flip the script and handpick the fitness experiences that fit into their schedule and preferences.
For gym owners and health club operators, this means that it’s not only more important than ever to offer a varied, personalized and hybrid experience, but a fitting subscription and price model to go with it. Switching up pricing and subscription options is a significant yet meaningful change that, when done correctly, can bring with it a whole host of benefits for your fitness business.
Getting down to the root of what your customers not only want and need, but now have come to expect from their gym memberships, the inflexible subscription model is a thing of the past. Grow and future-proof your business with a gym business model that is financially fitting and both attracts and retains clients.
Here are our top 5 benefits of implementing a flexible subscription model.
Diversification Through Hybrid Models
The true substance of flexible subscriptions lies here: if you aim to offer more flexibility in terms of your gym subscription model, you absolutely must broaden your available offerings to be able to build in said flexibility.
Tried and true offerings like personal training, group training and small group classes coupled with video workouts and livestreaming: online, offline, at-home or outdoors, offered alongside nutrition coaching or meditation and mindfulness education are all ways of hybridizing your business to fit your clients’ changing needs and expectations.
Choose the offerings that make the most sense for your business and aim to do them well, as opposed to trying to offer everything at once.
Ready to hybridize your approach? Gyms Share How Virtuagym’s Fitness Technology Helps Them Thrive
Personalization and Flexibility
Having an assortment of fitness offerings available for your clients has a secondary benefit. It enables you to personalize these offerings just for them. Fitness is not one size fits all and your subscription and membership options should reflect that.
Clients want subscription options that reflect their specific goals and needs. Flexible subscriptions enable you to personalize your clients’ options better: if someone wants to switch to home-workouts with one PT session per week in-facility or from video-based training to in-person small group classes, you can **personalize that experience easily **with a fitting price tag.****
Clients’ lives change, and no one wants to get stuck in a gym membership that is no longer serving them. You’ll hold onto your clients longer when their subscription options accommodate their diverse and changing lifestyles.
This personalization is a cinch with the Virtuagym app: Expand your Hybrid Business with the Virtuagym Video Workout Platform
Attracting New Customers
The good news is people are joining gyms again post-lockdown. In fact, according to a worldwide consumer survey, the overall conversion rate is up by an astonishing 108%.
This means not only have previous gym-goers returned to in-person training. But a slew of new members are signing their names on the dotted line as well. If you want to position your business to be attracting these new and interested customers, then flexibility and pricing options are key.
Not everyone can afford a weekly PT session but a quality personalized home workout plan can absolutely provide the same engagement when created with a client’s specific goals and abilities in mind.
Engagement is critical to building up brand loyalty. It will pave the way for upsells and upgrades for these clients down the line. A client beginning with livestream classes at home will feel connected and loyal to your brand. They can be moved through the funnel toward in-person group classes or towards personalized plans.
Are your Livestream classes getting enough attention? Check out: 7 ways to promote livestream classes and workout videos online
more to offer and adapting to your clients’ lifestyles will ultimately help retain your clients longer. Whatever changes in their lives or schedules, their gym subscription is able to change along with them. And all this without lengthy contract changes or cancellations.
Say a new client joined an in-person group class once per week on Saturday because they have a long commute to your facility. So by offering them personalized options through video workouts, live-streaming, or home workouts, you make sure they stay moving throughout the week.
The client walks away feeling appreciated, like their needs and goals matter, and you’ve ensured that this client stays engaged and connected with your facility- even if they are only on-site once a week. And if they happen to move closer? Well, you’ll have plenty of options to offer them to fit their new schedule.
Need more ideas for client retention? 5 Gym Membership Retention Ideas to Boost Business Success and Increase Member Retention with a Digital Engagement Solution are the articles for you.
New Revenue Streams
Finally, an assortment of fitness offerings plus a diverse client base will enable you to open up new streams of revenue. With so many different options to choose both in-person and digital, upselling and cross-selling opportunities abound.
Digital fitness is now considered a necessary offering for today’s fitness consumer and monetizing your online offerings is a way to bring in those digital-age clients and generate sustainable revenue.
For more on upselling, see: How to Promote Cross-Selling and Upselling to Increase Your Gym Revenue
2023 is the time to have a flexible subscription model for your gym in place to offer your customers the variety and flexibility they want and need. To do this, you need to ensure that you have the right software in place. This way you can make all of the front and back end work easy and seamless. For you, your team, and your clients.
Virtuagym software offers the complete solution for your members and your business needs. Virtuagym can not only be used for booking, scheduling, and setting up video sessions, but Virtuagym’s PRO+ feature allows you to combine the real-life experience of training clients and members inside a facility with all of the digital training solutions that members need, such as live streaming classes, virtual training, nutrition, and workout tracking with a virtual community to share their results with.