How to boost your revenue with Stronger Together
Before we hear you sigh about another COVID blog post, hear us out. Although the past few months have caused a heapload of stress and suffering, in this post we’re looking forward and uncovering the ways that you can transform the finances of your fitness business in 2020. In a nutshell, we’re going to be talking about money. The trick? Switching to a hybrid business model.
You might have lost a lot of revenue over the course of the pandemic, be that due to membership freezes or cancellations, a drop in sales of your webshop or a drop in revenue-driving personal training sessions.
One big lesson we’ve all learned from this year is that your members have fallen in love with working out at home. But that doesn’t mean that they are a lost cause. With the right digital offering, and by combining your in-facility workouts with a quality, workout-at-home option, you can drive revenue and cash in on the return to semi-normalcy.
At Virtuagym, we’ve devised a fool-proof formula that will keep your clients engaged and help you retain them long-term. As a plus, it will also draw in new clients, and drive an extra revenue stream in the process. Check out the full low-down on our Stronger Together program here.
Why a hybrid fitness model is crucial for driving revenue
The not-so-secret secret of our new program is that unlike fitness subscriptions that your members might come across online, Stronger Together combines both the experience of your gym, club or studio AND an online library of fitness and wellness resources. It is a complete, holistic experience for your members.
The digital side provides access to live streaming video workouts, over 5000 exercises with a virtual trainer, meditations, online coaching and challenges – as well as access to a virtual community of gym-goers. On top of that, you provide the personal touch and the much-needed capability for real-life training. Together, this is a high value package that will help you turn profit.
This hybrid model is the future of the fitness industry and will be essential for driving revenue in the months to come. Not only will this act as a catalyst for bringing your membership numbers back up, but it will also provide you with insurance for the future.
When gyms, clubs and studios shut their doors in the face of the pandemic, business owners were left with limited to no revenue streams.
Use Stronger Together as an insurance on your revenue
Stronger Together can be used as a separate membership, charged alongside frozen memberships.Essentially, regular memberships and Stronger Together memberships can occupy two separate revenue streams.
That means, if the virus comes back for a second surge (or if anything like this happens ever again in future) you’ll still have a reliable source of income to fall back on.
Members will be able to access the digital offering at home, and then restart in-facility memberships whenever it is possible to do so. This keeps members loyal to your business and is a long-term solution for revenue generation.
Make money by selling Stronger Together as a PRO option
Stronger Together is extremely high-value. It is exactly what your members are looking for, and they will happily pay to access it. For this reason, it makes an excellent addition to your memberships as an upgrade.
By selling it as an upgrade, you can make an additional profit on top of regular memberships. It’s a profitable upsell option that will keep both your bank account and your members workout regimes in check.
High-end gym? Include Stronger Together to draw in new members
If you are operating a high-end or luxury gym where members pay higher fees, you may have been hit particularly hard by the current pandemic. Many consumers have struggled financially during this crisis and may be looking for cheaper options when it comes to the gym they workout with.
In order to reduce the number of members churning, and to increase the amount of new members taking an interest in your club, you could consider incorporating the Stronger Together package into your regular memberships. By marketing the hybrid model as a luxury fitness commodity, you can drive revenue and come out of the current crisis financially better off.
Drive engagement, without expending resources
The best thing about Stronger Together? It requires minimum effort because it’s a turnkey solution. That means we provide all of the in-app resources for your members.
From workouts, to tips, tricks and recipe posts in the app’s community. Virtuagym ensures that your members stay engaged, through an app completely branded to your gym, club or studio.
This requires absolutely no work from your end. What would usually be a full time job for one member of staff – community engagement, workout production and challenge-setting – is now performed by your software provider, saving you money on staff and time.
Keeping members engaged is crucial in the long-run. It brings more members to your club through word of mouth, and ensures that the members you currently have continue paying into your business for years to come.
Ultimately, Stronger Together is a quality resource and a great revenue-drive for your business. It can be used to turn profit and help protect you from future forced closures. For more information on how the package can transform your business, check this out.