Category: Podcast

In our last episode a couple of weeks ago, I spoke about the brilliant Rick Mayo and how a chat with him on Ready. Aim. Empire inspired me to make a pretty HUGE prediction for the future of studio spaces in 2021.

Today, I’m bringing that episode back!

Rick Mayo has built one of the most successful (and potentially the first!) personal training centers in the United States, and possibly the world. 

He’s worked with everyone from major franchises to mom and pop locations, helping them build out their training facilities and programs. 

In this throwback episode, Rick talks about why he reduced the capacity of his thriving studio from 8,000 sq.ft back to 2,500 sq.ft.

According to him (and this was pre-COVID, y’all), reducing the capacity of his studio was one of the riskiest, but best decisions he’d ever made. 

So, tune in to find out why this model works so well, how you can apply it to your own brick and mortar studio post-pandemic, and why sometimes you need to scrap your whole business model to really strike gold. 

If you feel like you’re nervous to make changes in your studio business, or afraid to experiment within it, this is the most important thing you’ll listen to all week. 

In this episode you’ll learn: 

• About Rick’s journey of innovation and how he came full circle to the model he does best

• A birds-eye view of his team and how they operate

• His thoughts on using employees or independent contractors

• What he feels is key to getting people on the right track for their goals 

• The way that Rick was able to identify a demographic that needs to be served well in the fitness industry

With grit and gratitude,

Lisé

https://www.rickmayo.com/

https://www.facebook.com/RickMayo101/

https://www.twitter.com/CoachRMayo

https://www.instagram.com/alloyptfranchise/

https://www.instagram.com/studiogrowco

https://www.boutiquefitnesscoalition.com/

https://www.boutiquefitnesscoalition.com/press

https://www.facebook.com/groups/3312618912101211/

We’re doing a double whammy of predictions today!

And y’all, pay close attention to this episode, because l’m sharing some powerful stuff!

First up, I want you to think about your last pizza order online. 

Let’s imagine you ordered a large $13 veggie pizza for your family. When you checkout, a checkbox pops up asking you if you want to add marinara sauce for 50 cents. You check it (because why not?). And then, a separate window opens which asks you if you want to add cheesy bread for $15. The offer is so enticing that you end up doing it. 

Then, if you become a regular customer, they ask you if you want to purchase a membership card that’ll allow you to buy more pizza at incredible prices and with a slew of other perks. You jump at the chance (because who says no to more pizza?)

Then you, my friend, have encountered the Order Bump + Upsell + Ancillary add-on marketing strategy. 

And it’s one of the most powerful ways to sell in 2021. 

Because it isn’t about selling more, it’s about selling smart. And in this episode, I’ll be breaking them down, explaining what they are and how you can use them in your business ASAP to start making more money.

Secondly, I’ll also be talking about why I think the square footage size of studios is going to drop drastically this year (and why that’s a good thing!). 

So tune in if you want to learn how you can bring in more profits to your business without having to sell more, how you can pay yourself a higher salary while truly impacting people’s lives!

In this episode, you will learn:

• Why I feel we are in the age of upsells, order bumps and ancillary add-ons {and what this means for studio owners}

• What an order bump is, and how to offer it the right way

• How an upsell differs from an order bump, plus the 4 options you have for where to put one

• Where the ancillary offer fits into the sales process

• Why it’s so important to understand your client’s journey when setting up your offer and sales process

• The reasons why the average square footage of studios is going to drop moving forward

• What you need to be focusing on when you downsize your studio space

• Shifts to your pricing structure that I predict will need to be made

• Why what I’m suggesting is a more profitable, sustainable, and powerful business model

With grit and gratitude,

Lisé

https://www.amazon.com/Customer-Journey-Mapping-Focused-Change/dp/1941688640

https://studiogrow.co/episode413/ (Rick Mayo and The Birth of Alloy Personal Training)

https://www.instagram.com/studiogrowco

https://www.boutiquefitnesscoalition.com/

https://www.boutiquefitnesscoalition.com/press

https://www.facebook.com/groups/3312618912101211/

Y’all, I want you to do a quick mental exercise.

If you pulled someone off the street and showed them the social media accounts of a couple of studios in your market, would they be able to instantly differentiate yours?

In my experience, most of the time, the answer is no. 

At Studio Grow, we work with over a 100 studios on their marketing and one of the first things we do is really dig into everything happening in their industry, including analyzing the marketing of their competitors. 

And my biggest gripe after these deep dives? 

There’s barely any difference in the marketing between studios in the same industry. There’s a high chance that your neighborhood’s pilates studio is offering the EXACT SAME classes, prices, and packages as the pilates studio half a mile away from them. 

That’s a problem. 

In 2021, you need to set yourself apart from your competition, including former instructors who’ve ‘borrowed’ your teachings and stolen your clients. 

And that means it’s time to create some standout marketing. 

So, in Part 3 of my ‘Predict-A-Thon’ series, I’ll be taking you through how to create a brand that stands apart from your competitors, sharing some real life examples, showing you how to use your story to carve out a niche for yourself, and much more!

Remember, creating a unique identity is probably THE most important thing you do for your studio in 2021. 

So, make this episode the first step in your journey to becoming unforgettable. 

In this episode, you will learn:

• Why your branded programs absolutely need to stand out against others on the market

• What my biggest issue is when it comes to marketing and offers running in this industry

• Ways you can be original when naming your classes and one-on-one offerings

• How to determine, and then promote, your own unique methodology

With grit and gratitude,

Lisé

LINKS:

https://www.instagram.com/studiogrowco

https://www.boutiquefitnesscoalition.com/

https://www.boutiquefitnesscoalition.com/press

https://www.facebook.com/groups/3312618912101211/

Welcome back to Part 2 of our ‘Predict-A-Thon’ series!

Earlier this year, I held the ‘1 Year Out.. Studio Grow’s Spring 2021 Predict-A-Thon’, where I went live everyday for 5 days in a row to share one prediction about the future of the boutique fitness industry. 

And I’m so excited to bring ALL that goodness to Ready.Aim.Empire!

Last week, I discussed the importance of intense internal segmentation and how we leveraged it to raise around $700,000 in new client revenue for one of our partner studios (in just over 5 months!). 

Today, I want to delve deeper into something equally as powerful.

In fact, this has been the saving grace of dozens of studios we worked with in 2020 which were on the verge of shutdowns. 

We also might be cheating just a little bit, because this is a prediction that’s had the benefit of a couple $100,000 of testing. 

Y’all, I’m talking about life stage marketing. 

If there’s one thing that the pandemic showed us, it’s that specializing in ONLY one age range can be dangerous for your studio due to the increased health risks of some demographics over others. 

But, when marketing to different age groups, you have to make sure that you’re changing your messaging to really speak to each demographic and get them to walk through your doors. 

Marketing to a healthy, 20-something, college-going client is drastically different from speaking to someone in their 50s who are not as willing to leave their homes. 

So join me as I dissect the dos and don’ts of life-stage marketing, what life-stage segmentation should look like, and an incredible BONUS prediction!

In this episode, you will learn:

• The growing importance of marketing that focuses on the life stages of your customers

• What are some of the different needs that clients have at various stages of their lives, and how to start catering to these groups of people

• Why now more than ever, profitability is key

• How high-ticket intro offers will be used more often to bridge the gap between short-term memberships and more intensive results-based offers 

• The right way to start building your own virtual studio

With grit and gratitude,

Lisé

LINKS:

https://www.instagram.com/studiogrowco

https://www.boutiquefitnesscoalition.com/

https://www.boutiquefitnesscoalition.com/press

https://www.facebook.com/groups/3312618912101211/