Revenue Generation: it’s a partnership to a growing business.
Revenue Generation—It’s a Partnership
Businesses, especially fitness studios, rely on many people to operate. Some of those people may work internally, like a trainer or manager, or they may work externally, like a marketing agency. Whatever the role, all are needed in efforts to generate revenue. At Method Metrix we help businesses leverage social media marketing to generate and convert leads into paying members. Most do not understand however, that it is truly a partnership to generate Revenue for a studio.
Two businesses, one goal: Revenue.
When a fitness studio comes to an agency such as ours, they are looking for revenue generation, assistance with conversion and strategy. Members are the lifeblood of fitness studios and EVERY detail matters in the process.
An agency hired to help in this process will design, execute and manage ad campaigns, advise on or revamp social media, create landing pages for interested people to provide contact information and in our case, advise on your internal processes and procedures. It’s an important, thorough process, but when done right, leads come in and convert at a higher rate; consistently. That equals more money and more stable business.
What happens, though, when a business invests in an agency and leads aren’t converting into paying customers? That’s a scary idea for business owners because no one wants their money being wasted. It’s also scary for any agency helping. There’s a lot more to the process than what the agency does. What if the agency hands over a list of leads they’d brought in and only 10% were contacted by the fitness studio staff? Or, leads came into the gym but it was so understaffed that no one noticed them waiting in the lobby for ten minutes. Those are factors outside of the agency’s control—or is it?
For us to work as efficiently as possible, we want to understand your business and we want you to understand ours. A gym needs new memberships to grow and pay the bills. We need their continued business, to grow and pay the bills. It will not help, in any way for us to not provide solid results. And while we pride ourselves in our success rate, that doesn’t mean we do not need help from our clients.
How partnership creates success in revenue generation
So how should an agency and a fitness gym work together? Clear communication—as cliché as it is to say—is key. We have created some powerful tools which allow us to run variables with clients that illustrate responsibilities for lead generation and conversion for both parties. More than ever, our clients need to understand that the more we know, the more we can help them.
There are many factors in the operation of a gym that are important in our marketing calculations. What qualities of your trainers can we market? Do your members avoid each other or prefer the feeling of community? Those factors may not even be on our client’s radar—and that is okay, that’s why we’re here. That’s also why an agency that doesn’t work hands-on with their client will produce sub-par results.
A fitness gym’s sales funnel is a key part of the lead conversion process. Obviously, we want the leads we bring in to convert into customers. Success with our clients equals more success for us so it only makes sense that there be a strong level of transparency and trust between our businesses.
For example, if a fitness studio we work with hired a new employee to cover the front desk, we want to know that ASAP. We want to know who they are and what role they play in the sales process. If we find, through our data, that a huge reason leads don’t convert into customers is the fact that they are greeted by unfriendly people—that helps us to adjust our tactics and recommendations to clients.
Some agencies take data that their client gives them and run with it, hoping for the best. We take the opposite approach. We want to see every factor of our client’s operation, run our own calculations, and then proceed with a marketing plan catered to the business.
Generating leads is only one step in the process. Leads don’t mean sh*t unless converted to paying members. We want our clients to close the deal and gain memberships from those leads, over and over and over…
Is partnership worth the time and effort?
Every business should have an advertising and marketing budget set aside.
That is one of the main reasons why focusing on a partnership is so important. Transparency not only helps to guarantee the best tactics and most accurate data is being used, but it also ensures that the fitness studio knows what is happening with the money they invest.
We want our clients to feel they are getting what they paid for by seeing results themselves. There’s a lot that goes into the lead generation process and clients should see our work in action. Additionally, we need their help to make sure we have all the information to make decisions. What events are being planned, community involvement, social media tactics. All these details and more matter.
Annually, approximately 25-30% of data becomes inaccurate and those using that data become less effective. Within a business, data can change quickly and clearly, running campaigns based on outdated data isn’t going to help anyone. The sooner those changes are realized, the better. Having a good, informative relationship with a client will make it much easier to stay up to date with their business’s data and important changes.
As for the actual results of a great business partnership: lead generation and conversion will increase, bringing memberships to fitness studios and gyms and providing stability to their owner. Yes, it is a leap of faith to begin the process but even small increases in sales can earn a client back their money.
One business was only converting 3% of their leads and they were losing a ton of money. With small adjustments, we increased that conversion rate to 15% and they made $28,000. Small tweaks here and there can increase sales drastically. Imagine what can happen when we throw all of our resources into getting you more leads that convert to members.
“Without you, we couldn’t do it.” That’s a sentence people say all too often in business. The reason being, it’s true. Whatever you do, there’s someone out there whose job it is to help you do your job better. Whether it’s doing your business’s accounting or helping to produce the staples that go in your stapler—that’s how the world goes ‘round. But that’s taken for granted…except with us. Because we realize we truly could not do what we do without our clients. When we say, “without you, we couldn’t do it,” it’s not the end of a business agreement where everyone goes their separate ways. It is our truth and the beginning of an open and important business relationship that will make both of our businesses flourish. Learn more with the button below!