Do you value yourself like a Fitness Rockstar would?
June 14, 2010
Do you value yourself like a Fitness Rockstar would?
As I continue to work on fitness marketing with outrageously talented Fit Pros, Personal Trainers and Presenters to raise their fitness profile to ‘Rockstar’ status and their earnings to match one issue keeps coming up again and again.
Value. The issue of how to value one’s services seems to be a real sticking point in the Fitness Industry. Fear seems to be the over-ruling factor in determining the price point for fitness services ie. they better not be higher priced than the gym down the road, or the bootcamp around the corner or the highest paid personal trainer in the area because then they will be ‘too expensive’ and they will lose all their customers.
This is an understandable way of thinking given the economic climate of the last 2 years and with major brands randomly slashing prices in response the state of fear most of the world has been in.
But in the fitness marketing world and the real world I have to say it is absolute BS. To try and undercut major gym brands with multi million pound nationwide marketing budgets is pointless for two reasons:
1/ You will never ever be able to compete pricewise because they can buy/employ and deliver in bulk keeping their prices down and they can literally ram their marketing message down your throat 24/7 with the size of their marketing budget
2/ You are ignoring your key advantage over gyms (and other small businesses and Fit Pros for that matter). Your uniqueness and your complete control over your Fitness Rockstar brand positioning.
We are entering an age where transparency, personal branding and trust is of far greater value to the consumer than cost, service and accessibility. People are not interested in big faceless business anymore (ie. gyms) so you can cross them off your list of ‘competitors’.
And if you find your unique positioning in the marketplace and work on developing a strong valuable personal bran, just like a rockstar would, you will also wipe the floor with your local Fit Pro ‘competitors’.
So how can you let people know how valuable you are and therefore command the correct price for your services without losing custom to the ‘cheaper’ option?
Easy. Its all about perceived value. Which is communicated via ‘positioning’.
Let me give you an example:
If you see a pair of Nike Trainers in Nike Town, a new design and in the front window being displayed as the ‘latest trainer release with new technology for improved grip’ you would expect to pay what for them? Maybe $80? Or even $100?
You buy the trainers and you get to walk around with your Nike bag with the iconic swoosh on the front feeling very pleased with yourself that you are the proud owner of the ‘latest Nike trainer release’.
Your friend goes to a yard sale a week later and sees the exact same pair of trainers, unworn, in their box which is a little battered being displayed for sale amongst lots of random items. Your friend has had to rummage around to find the trainers and is cold and wet from being out in the rain on a early Sunday morning. How much does your friend expect to pay for the trainers now? They’re exactly the same as yours, unworn too. $15? Maybe $30 at a push?
Your other friend shops in a designer boutique. They love the extravagant look of the store and they are asked to take a seat and served champagne whilst their personal shopper brings items to them. They are brought the exact same pair of trainers. The personal shopper lets them know that Beyonce was seen wearing that exact design and there’s only 20 pairs ever been made, 5 of which are on sale today and today only. How much does your friend expect, and is happy, to pay for them now? $250? $1000? $2500?
You see it’s the exact same product but the positioning and delivery of the experience is totally different. The perceived value therefore changes and the customer is very happy to pay for their trainers depending on the situation they are presented to them in.
So really your value is whatever you are perceived to be. At the moment this is probably happening by default. Ie. because you are not sending out a strong message about your personal or business brand people are making up their own minds as to your value.
If you establish yourself as the goto person or Fitness Rockstar as I like to call them in your local area for a specific fitness niche, you are the expert, you have a book and a DVD and you are so confident in what you do that you can offer money back guarantees then you are perceived as very high value. All of a sudden the price ‘haggling’ or objections are a lot easier to deal with because the consumer is already presold on your brand. And therefore you can reasonably charge $10k for a 3 month training program (or whatever you like for that matter).
If you are dragging yourself to your bootcamps, turning up hungover with a poor physique, you have no online presence, no book, no brand message and you doubt yourself you are perceived as very very low value.
Basically if you say you’re worth $500 an hour and have a few key credibility builders to support this then people, if they are in the right motivated place, will pay that for your services. Not only will they happily pay that but they will be queuing up to do business with you. Beating down your door. Wouldn’t that be nice?
AND they will get better results because they’ve invested more money in you and therefore are more likely to do exactly what you tell them to do. If they paid you $1 for a training session they really wouldn’t care if they even turned up for it or not. Who cares? It’s just a dollar right? So really you are doing them a favour buy charging higher prices because they commit more and take more action and get the better results which are what they want anyway.
So. How are you valuing YOUR fitness services? Are you the cheapest around? The most expensive? Are you the local Fitness Rockstar? Become aware of your value, communicate that actively to your clients and watch your fitness income grow in front of your eyes.
What you do is vitally important to our future health and prosperity. If I can help you become a Fitness Rockstar please feel free to check out my blog www.rockstarfitnessmarketing.com or email me direct on firstname.lastname@example.org