Last week in my article “5 ways to prepare your yoga advertising for the holidays” I promised to give you additional practical tools and strategies to prepare your studio for the holidays and help you start Q1 with more students and more clients.
Here’s my promise and 3 steps to creating explosive growth in revenue, profits and students base.
Back to the basics, use the seasonal slow time to review and analyze customer database…
STEP #1: Systematically multiply the number of times each student buys from you …
STEP #2: Systematically multiply the AMOUNT each student spends in your yoga studio each time and …
STEP #3: Systematically increase the TIME during which each student buys from you.
Then you want to plan, what you need to get customers to
- Buy From You More Often?
- Spend More on Each Sale?
- And Stay With You Longer?
Here are my 7 point checklist every successful campaign must have
- Irresistible offers
- Compelling sales copy
- Enlightened customer service
- More personal contact
- More frequent contact
- Varied types of services or products, example new classes, therapy, trainings, yogamats etc, etc
- Great bonding strategies
You then want to create a customer file and identify who your active students are.
Typically, an active student, or a customer, is your dedicated student who has been enjoying your services in the last 12 months.
You also want to identify your students according to…
- High Frequency, High Amount Buyers (yoga fanatics who will not miss an asana or a yoga retreat in the sun)
- Medium Frequency, Medium Amount Buyers
- Low Frequency, Low Amount Buyers
- Expired Customers
- Non Buying Leads & Inquirers
Obviously the list above is very detailed, you may want to simplify according to the size of your studio business, but follow general outline above.
Your next mission should be to Systematically move each customer UP the ladder while deepening his or her loyalty to your studio.
RESULT: Greater customer satisfaction, hence greater revenues, your students are likely to become your ambassadors, extends customer lifetime.
In order to craft the best and the most relevant promotions for your target market, you want to be able to select your students data based on their
- Time on File/Database
- Product Preferences
- Purchasing Frequency
- Average Purchase
- Largest Purchase
- Total Purchases
- Personal Data
Let me give you an example…
- Let’s mail our holiday ooffer to all our male customers…
- Who are 30 years or older…
- Who have been with us 12 months or more…
- Who visit our studio at least three times a week…
- Who on average spends over $100 per transaction…
- And who’ve spent a total of $1,000 with us.
Being able to MATCH your offers with the customers who are most likely to respond …
- Let’s mail A $200 offer to customers whose largest purchase so far is $100…
- Then, let’s send a special promotion to students Who buy an average of three times per year– and Turn them into 6 time buyers…
- And let’s definitely create a yoga campaign to convince 12 month buyers to make a purchase before they expire and become inactive buyers.
Do you see the power of having the customer data and using the data?
Being able to TARGET customer groups you want to upgrade gives you the power to consistently increase the value and buying power of your entire student file and therefore, your entire studio operations.
The More You Know About Each Prospective Student, or a Therapy Client, The More Personal – And Therefore, The More EFFECTIVE Your Communication Will Be.
In the next article I will email you the four rules to accomplishing one crucial goals: Creating the healthy flow of new students, and strengthening the bond with existing ones with a goal to enjoy more of yoga, health, wealth and family life this holiday season and beyond.
Need help with your studio marketing strategies?
Would you like to generate new stream of students and sell out your therapy rooms, and retreats? Contact Yoga Business Academy and tell us about your business, ideas and your questions.