My business was “flying high” and then, THIS happened.
Seriously, I thought I was really on top of everything with unlimited growth potential.
I honestly thought I knew everything.
After all, in my early days as V.P. of Marketing, I helped grow Guitar Center into America’s largest musical instrument retailer.
Then, as a marketing consultant during the 90’s, I helped launch dozens of start-ups and even ushered a few Fortune 500 companies into the “new world” of digital technology.
During this same time I started Private Label Fitness, because… well, I’ve always been an entrepreneur at heart and fitness has been a passion for over 50 years!
Right out of the gate the business was successful.
Over time we continued to grow, hire, develop, etc.
Then in 2008 — it happened.
The entire U.S. economy collapsed.
No one was prepared for it. Especially the fitness industry.
In just two months, I lost 50% of my customers because clubs, studios and independent trainers were shutting down.
Believe it or not, it was actually worse than what’s happening today.
There was no “light at the end of the tunnel” because it was a financial crisis… not a health issue.
Why Am I Sharing This With You..?
I tell you this because my business weathered that storm.
In fact, as a direct result of it, we came out of it stronger and way smarter.
Because of the actions I took in 2008, my business actually grew during this crisis!
I want to share with you what I know to be TRUE.
Right now, just like 2008, our industry is at a crossroads.
That means YOU are at a crossroads, too.
If we cut through all the fluff, jargon and words like “pivot” — and just boil it all down — there are only two (2) choices:
1.) GET OUT
2.) GET SMART
By the way, if you think you can continue to do the same old things and ride out this current situation…. then, by default, you’ve chosen #1 and your business will die a slow torturous death.
If you choose #2, then, fasten your seat belt because it’s going to be a wild ride.
GET SMART requires 3 things:
• Self Education – a willingness to learn and change
• Guts – the motivation to push yourself out of your “comfort zone”
• Hard Work – you’ve never been afraid of this
HOW TO GET SMART:
My next few posts will be dedicated to this topic: GET SMART.
The goal is to provide CLARITY.
There are so many gurus, experts and consultants with different ideas, tactics, strategies, etc., that it’s downright confusing.
It’s all good. But, from what I observe there’s no clear path.
What to do first?
How to do it and why?
Again, my goal is to provide CLARITY with a step-by-step action plan.
So, I hope you’ll put my experience to work for yourself – and navigate toward a stronger and smarter business.
THE NEW WORLD OF FITNESS MARKETING
Since you read this far, I don’t want to leave you without a “golden nugget.”
It is the STARTING POINT.
Allow me to share with you the 30,000 foot overview of the NEW WORLD HEALTH & FITNESS MARKET PLACE.
There will be two different strategies going head-to-head in the NEW WORLD.
One is a legacy model and the other is the new model.
It’s all about the perceived “VALUE PROPOSITION” in the eyes of prospective clients.
MEMBERSHIPS VS. RELATIONSHIPS
You probably already have a “relationship” with your clients.
But, no matter how good that relationship is…. it’s needs to get even better!
I’m not the only marketing professional stressing the importance of “relationship marketing.”
It’s across all businesses. Most especially retail service-based businesses like ours.
There is such a HUGE DIFFERENCE between the perceived VALUE of a Membership versus a Relationship.
People truly want to feel a sense of inclusiveness. Of camaraderie. And, it needs to be “personal.”
Think of it in terms of the old TV Show “Cheers” with the line in their theme song: “…where everybody knows your name.”
In fact, among my consulting clients, I’m advising they take the words, “membership, packages, sessions, programming” and other non-relationship verbiage right out of their vocabulary.
And, replace them with “team, squad, gang, crew, family, partner, friend, brothers, sisters, soulmates,” etc.
So, let’s start here.
With a mindset.
The NEW WORLD MARKETING is all about RELATIONSHIP MARKETING…
More to come… with my step-by-step ACTION PLAN in upcoming posts.
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