Your Fitness Studio's Step-by-Step Guide to Maximize Profit on Black Friday
Black Friday is coming! Is your fitness studio ready? Years ago, this consumer holiday was synonymous with early morning wake-ups and standing in line for hours, but that strategy is less relevant in our current world. Now, your email marketing strategy reigns supreme, and your emphasis should be on preparing your clients to purchase from you rather than surprising them on Friday.
In 2023, we saw record-breaking Black Friday Growth with $9.8 billion spent online in the U.S. alone. Studies showed a new Cyber Week dominance, a key indicator of consumer preference for an extended shopping period. Cyber Week 2023 brought in $38B in online sales in the U.S and buyers are increasingly expecting early deals, with 27% of shoppers starting their Black Friday shopping as early as October. 63% of U.S. consumers planned to shop small, even if it cost up to 10% more than big-name brands (good news for boutique businesses). Finally, about one-third of small businesses in the U.S. now report that Q4 is their most profitable time of year. So, let's break it down so you can end the year on a high note.
First: Choose Your Format:
Streamlined Sale or Deal of the Day
Option 1: Keep it Streamlined
This is the format you're likely the most familiar with. In this version, you'll present a maximum of three offers, and they'll remain available during the duration of your sale.
Tips:
- Include choices that cater to different types of buyers and price points, such as a discounted package, BOGO product bundle, and a membership bonus add-on.
- Guide clients to their perfect choice with a guiding question such as, "Looking for the best price per class?" or "Just starting?" with the accompanying purchase option highlighted.
- Avoid too many options. If you overwhelm clients, they'll opt for the path of least resistance, which is usually the smallest or least expensive choice.
Option 2: Deal of the Day
I've been seeing businesses offer a daily deal and thought, "Why not boutique fitness?" In this version, you'll showcase a distinct deal during each day of your sale- i.e., five different deals for five days of Black Friday week. Each purchase option is available for 24 hours to create a sense of urgency.
Tips:
- Think of Amazon's lighting deal during Prime Days that ticks down the seconds until it expires; yours should be similar (you can even embed a countdown on your landing pages).
- Provide a sneak peek of the entire week's offerings without prices to build anticipation the day before your week begins.
- Vary the offerings by including different services, products, and price points each day.
- Include Cyber Monday Redemption Day, which allows customers one more chance at all of the deals before they close for good.
There isn't a "right" option when it comes to your format. Choose the version that will excite you and your clients. If you have the bandwidth for the potential of a bigger payoff, try out the daily deal. If you don't have time, or if you have a large holiday sale planned, keep it simple with the streamlined option.
What's Your Goal?
Before you start creating offers, think about what you're trying to build in your studio and use those goals to build deals that support your plans. Also, consider who your target client is and what they want to purchase.
Here are some example goals:
Build client commitment with memberships. If this is your goal, make sure your class packs aren't more attractive.
Fill open spots by offering low-ticket, high-volume offers.
Do you need a quick influx of cash? Paid-in-full packages will be your top priority.
Are you looking for brand-new-to-you clients? Create an intro special or a come-back offer that no one can resist.
My private clients know that I love goals. Goal setting is the difference between a dream and a plan, so set your goal for your Black Friday gym special and write down how you're going to get there. Do you want to sell five packages? 25? 500? Are you after a target revenue, i.e., $15000 in sales, or are you hoping to add ten new members? Be clear on both the target and the goal; otherwise, you won't know what success looks like for your studio. Then, strategize how you're going to get there. We're not creating sales and crossing our fingers that someone will buy them this year; we're making it happen.
Build Offers That Specifically Support Your Goal
Once you choose your method and your goal, it's time to build your offers with standard deal formulas in mind. Ideally, you'll want a mix of the options to ensure you speak to a variety of buyer profiles.
Percentage Discounts: Attractive offers that are substantial enough to catch attention, ensuring potential clients are tempted to make a purchase. Keep in mind that research shows discounts should be 20% or better to capture potential buyers' attention during such a high-competition week.
Bonus Add-Ons- Purchase X and get Y for free. The gift could range from complimentary products to exclusive services, enhancing the overall value of the offer.
Limited-Time Offers to Create Urgency- New or exciting options only available during sale week.
Bundled Discounts- Buy X and Y for the discounted price of Z.
Let's say that you choose "fill open spots" as your target goal for your Black Friday campaign. Now, you'd create offers that support that goal but don't compete with each other. So, you may choose a $99 6-week unlimited intro offer, a first month free on a four-month membership, and a discounted class package option.
Here’s a screenshot from the Black Friday Workshop with offers that match goals.
These are obviously not the only Black Friday specials to support those goals, but the desired outcome matches the offer in both cases. Be creative and try not to fall into the "I do this every year" rut. Boutique fitness looks different now than it did in the past. It's a great year to try something new.
Early Bird Gets the...Gift
To draw clients in early, consider developing an early bird gift. By inviting customers to register as VIP early birds, you create a sense of exclusivity and receive a list of potential customers who already want to buy what you're selling. Clients will RSVP as an early bird and be tagged in your mail software. (If you use Flodesk or similar, they can fill out a form that automatically tags them as an early bird). Those clients will receive a preview email the day before your Black Friday week, letting them know that they'll receive a special gift if they purchase any item on Black Friday. The gift could range from a tumbler to a free mini-class package to a pair of grip socks- whatever your clients will be interested in. If you don't want to give a gift, they could enter code "EarlyBird" at checkout to save an additional five percent. It's up to you!
Add Incentive
In a Black Friday Survey, 77% said a free bonus gift would make them more likely to buy an offer, even if they weren't initially shopping for that product or service. Sometimes, clients need a little nudge to get them over the finish line, so add a free bonus. It doesn't have to be expensive to be effective, and you can even strategize your freebies, so your biggest incentives are given with higher-priced options.
Look around your studio for merchandise that isn't moving or doesn't cost you a fortune:
Branded water bottle
Grip socks
Sweat towels
Branded Apparel
Gym bags
1+ free week added to their purchase
Don't forget your profit margins. Increasing your gross revenue at the expense of your bottom line won't do you any favors. Before you tack on extra weeks or freebies, run your numbers to ensure you can comfortably afford to do so.
Check Those Expiration Dates
Your Black Friday special is likely going to activate in December, so if you're like most gym/studio owners, you do not want that offer to expire in 6 months, or you're facing the dreaded summer renewal conversation. Counting on your fingers is totally acceptable (I just did), but make sure that the Black Friday class packs and memberships expire when you're better able to convert those clients into a new package. May, June, and July tend to be difficult months for renewals, so strategize your expirations to occur before or after the summer.
Choice Paralysis = Fewer Sales
More is better, right? Nope. Studies have shown that more options actually make it more difficult and less satisfying for customers to choose a purchase option. When creating your gym's Black Friday specials, try to keep it to two or three choices that support what you're trying to achieve unless you're doing the deal of the day version.
Guide clients to the option that works for them so that they feel confident about which Black Friday special was designed for them. Your worst-case scenario is that they decide to think about it, and your offer gets buried under the 1000 emails they'll receive that day. Simple is your best strategy.
What About Current Clients?
I get this question a lot as a studio coach. "But what about my current clients? What if they want a special offer?" You can take this a few different ways.
Black Friday gym specials are for new clients and are emailed out only to inactive clients. This option is the cleanest but can create discontentment if your members feel excluded. If you don't have any purchase options available for your current members, I like to foreshadow what is coming for them (like a Christmas Party sale) or run a retail sale during the weekend for all existing clients.
Current clients can purchase a Black Friday special and add it to the end of their existing package. So, if your 6-month client sees a special for the 12-month purchase option, they can purchase that sale item and set it to start after their current membership expires. Save yourself from the headaches of pausing and swapping purchase options so you can have a holiday, too.
Segment your client groups. One campaign goes to current members with an upgrade option, a workshop, or an add-on, and the other goes to non-active and new clients. That way, there is something for everyone, but clients aren't sorting through six different offers (choice paralysis).
Make it Happen
Ideally, your deals and the details are finalized by November 1st so that you can focus on marketing, scheduling, and content creation in November. Check back for the next article covering Marketing, or download the workshop to get started.
Ready to work through your Black Friday Plan with Limitless? Grab the workshop and worksheet with everything you need, including marketing calendars, to-do lists, and formulas here.
