The Ascension Business Model
Matt and Rick discuss the concept of ascension in the fitness business. Learn how effects revenue, retention, and the lifetime value of your members. → Learn more at → http://bit.ly/alloy_franchise
Alloy Personal Training Business · Rick Mayo, Matt Helland
Audio is streamed directly from the publisher (cdn.simplecast.com) as published in their RSS feed. Play Podcasts does not host this file. Rights-holders can request removal through the copyright & takedown page.
Show Notes
Ascension business model basically means the journey you take your customer though in your business. It can be based on revenues, or it could be in the programming. It is what you offer the customer so that they can be involved in the brand for a long time. The more the customer feels connected to the brand the more they will spend.
You are only going to lose a customer if you run of things to sell them. If you think about that, then you understand the ascension model. You also understand why by not taking your customer on the ascension process, you are actually doing them a disservice. Customers want to reach their goals while you want more revenue. This is a win-win for both of you.
However, all the ascending services must be related to the client’s goals. You cannot just sell anything that is outside of their goals. If you're not ascending people over time, you are going to lose them since they want to reach their goals.
Listen in to understand the ascension business model and learn some examples of ascending services you can offer in a gym.
Key Takeaways
- What is the concept of ascension in a fitness business (04:14)
- You are doing your customers a disservice by not selling them other services that may help them reach their goals (06:26)
- You're only going to lose a customer when you run out of things to sell them (08:11)
- How the ascension model works on the revenue side of the business (10:51)
- Some examples of items you can sell to your members in addition to gym subscription (15:16)
- How the ascension model improves your customer retention rates (19:15)
- Why your ascending services must be related to the client’s goals (22:43)
- Ascending model in relation to gym programming (23:51)
- Finding revenue opportunities by offering solutions to client’s problems (28:59)
- If you're not ascending people over time, you are going to lose them (30:58)
Additional Resources:
---------
You can find the podcast on Apple, Google, Spotify, Stitcher, or wherever you listen to podcasts.
If you haven’t already, please rate and review the podcast on Apple Podcasts!