You have heard of Black Friday! You have seen the crowds of people queuing up outside the stores. You have watched the videos of hoards of people creating a scene at a local supermarket. Black Friday is upon us. So as a business owner you may have been playing with the idea of creating a sale to jump on board the hype. And if done correctly, why shouldn’t you! Sales are there to be made!
Why should I have a sale? Well… why shouldn’t you? Are you scared of making profit? Especially with this time of the year been known throughout the fitness industry to be pretty quiet, a sale could actually help you throughout the cold months leading up to the January boom.
Here we have collectively come up with 5 tips of creating a Black Friday deal directed at the fitness industry.
1) Create a goal amount of sales that you are going to aim for
As fitness professionals you are day in day out asking clients about their goals. Asking if they are on track for their goals, writing up your client’s goals etc. But what about your own business related goal? Any business owner will tell you that they have written goals that they are working towards. So create your own sales target to hit for the deal that you’re looking to create.
Work out how much discount you’re going to offer and then workout how many sales you would be looking to convert to make the deal worthwhile. A top tip for this would be to look at tip #2.
2) Create a balance sheet (profit/loss sheet)
This is where the goal number would be generated. Here is the harsh reality of it. If you go blindly into offering a discounted sale then you actually could be losing out! You can easily create a balance sheet on an excel spreadsheet or even with pen and paper.
Take into account your outgoings such as marketing material, gym rent etc. Then work out how many sales you would need to convert to then hit profit. This would give you a great idea and direction of the discounted sale you are looking to offer.
3) Offer something innovative
Scope out your competitors and see what they are offering. What you will find is that many of them actually wont be doing a Black Friday sale anyway, which means they’re missing out, but look to offer something new. An example of this could be 4 weeks free online coaching along with their block booking that they have just purchased.
Coming up with innovative ideas unfortunately is where your creative spark needs to ignite. A good tip for this would be to get a pen and a piece of paper and have a 15 minute brainstorming session.
4) Create your marketing materials (video)
Many of you will hate this part. But in my honest opinion and also in my own experience, creating a video of your discounted sale WILL hit your biggest audience. Look at it this way… When you’re scrolling down Facebook, what do you do? Do you stop and read a large block of text, or do you watch a video? My point is proven!
The biggest barrier in creating a video is literally your own ego. So bite the bullet, grow a set and create a video of your sale. This is cost effective as most people have a phone that films video too. Look professional and don’t sound common!
5) Track and evaluate sales
Your discounted sale is now up and live. A few people has shown interest and signed up, great! But that’s not the end of it. You would then look to track these sales. Keep a spreadsheet of names of people who have signed up so you can gauge the success of your discounted sale.
If you have used various amounts of marketing then an evaluation-tracking sheet is a MUST. How are you going to find out which method of marketing has worked if you haven’t tracked them? Especially if you have invested money into your marketing.
So there you have it! You have some tips on how to market your own deal. This doesn’t just have to be for Black Friday either! Look to take this template and use it for other times of the year for example the New Year, Easter and so on. As a business owner, you know that the harsh reality of staying is business is to generate sales, so get creative!
And a top tip… If you don’t see other trainers doing it, or it doesn’t fit the mold… GREAT! You’re doing it right! The worse thing to do in business is to try and fit in because if you do, you’ll end up like everybody else.