The fitness industry took a hit when the pandemic started over a year ago. Around 25 percent of gyms, health studios, and clubs closed at the end of 2020 due to the lack of revenue. These closures come even as the health crisis highlights the importance of physical and mental fitness.
But the situation has changed as the authorities have administered more than 326 million vaccine doses. Gyms have reopened, but the situation is unlike what it was before the pandemic started. People have to follow safety protocols, especially with the emergence of a more infectious variant of the virus.
Despite these factors, gyms and fitness centers can still increase revenue by focusing on their line of business. Here are the things that gyms and fitness centers can do to increase their revenue in the middle of a health crisis.
Evaluate the Sales Funnel
To increase revenue, gyms and fitness centers should evaluate their sales funnels to see if they are still applicable in the current situation. These sales funnels were likely designed for a market before the pandemic started. So, these establishments should check the relevance of their sales assets and see if their sales funnels can support their current situation. They should also focus on making the necessary adjustments so that they can fully utilize the marketing strategy they are implementing.
Additionally, gyms and fitness centers can work with a digital marketing agency to increase its online presence. These agencies can propose several strategies to expand the reach of the business and allow it to reach more customers. They can even offer recommendations on modifying the sales funnels of gyms and fitness centers so that they will be attuned to the current situation.
Concentrate on the Niche
After modifying the sales funnel, gyms and fitness centers can get down to work on increasing their revenue. And one way to do this is to concentrate on their niche. Focusing on their niches allows gyms and fitness centers to specialize and offer better service to their customers. It also allows them to provide an excellent customer experience, which can help their marketing and promotion efforts.
It does not matter if they offer high-intensity interval training (HIIT), weight training, Pilates, or yoga. The main issue is for these establishments to highlight their specialties and focus on a particular niche in the market. These gyms and fitness centers may even offer more than one type of training. The important thing is that they can provide optimal service when their customers walk through their doors.
Offer Fitness Products Online
When the pandemic started, people opted to stay home rather than venture outside to exercise. This led to a surge in fitness equipment sales as people wanted to remain fit even though they stayed at home. While the demand may have gone down by now, it still exists.
Gyms and fitness centers can open a new venture by offering fitness equipment online. They can also provide recommendations on the type of equipment potential customers should consider since they have the knowledge and experience in this field.
Aside from fitness equipment, gyms and fitness centers can also sell protein powders, wearable devices, and gym gear. They may even consider developing their line of products that they can put their brand on.
Work with Local Businesses
Gyms and fitness centers should not limit sales to fitness equipment. They should also work with local businesses offering products that complement what they are offering. For instance, a HIIT gym can work with a business selling juice or activewear. Both businesses can offer their partners’ products on their respective websites. This arrangement increases the reach of both businesses and can promote customer referrals. Their marketing strategies can also include promotions offering discounts for each other’s products or services.
But gyms and fitness centers should also make sure that their partner reflects their values and principles. In this situation, they should check the background of a potential partner before finalizing an agreement.
Offer Online Training Sessions
Aside from products, gyms and fitness centers can also offer online training sessions to members and potential members. These sessions allow members to work out in the comfort of their homes. It also allows the gym and fitness center to continue operating even if the authorities issue another shelter-in-place directive. These sessions also encourage people who are wary about working out in the gym to sign up for a membership plan. It can even expand the reach of the gym and fitness center to other states across the country since people can join these sessions online.
The pandemic might have affected the fitness industry. Still, gyms and fitness centers can look into other revenue-generating activities so that they can stay afloat until everything goes back to normal.