Alloy Personal Training Business
If you run a premium fitness business, discounting is not a sales tool. It is a confidence problem with a price tag on it. In this episode, Rick Mayo and Matt Helland break down the psychology behind why fitness business owners discount, and why it almost never has anything to do with what the customer actually needs. They cover the five reasons people drop their prices, from lack of conviction and fear of rejection to short-term revenue pressure and discounting as a substitute for actual sales skill, and explain why every single one of them costs you more than the discount ever saved. Rick also shares the math: a 20% presale discount held across 100 members for a year is $120,000 in straight profit you gave away for free. To people who would have paid full price anyway. If you are in a premium category, this one is worth your time. Listen in to find out why holding your price is one of the best things you can do for your business and your members. Key Takeaways: 00:00 The Foot on the Gas Is Not Your Price 00:38 Back in the Beats Lab 01:28 Why Premium Pricing Belongs at the Top of Boutique Fitness 02:38 Higher Prices Attract Better Members 03:46 The Motorcycle Jacket That Proves the Psychology 06:26 Suzanne Paid $700 a Month in 1994 09:18 Why Discounting Is Never a Consumer Problem 10:00 The Five Reasons Owners Discount 10:12 Reason 1: Lack of Conviction 15:44 Reason 2: Fear of Rejection 20:04 Reason 3: Desire for Approval 21:54 Reason 4: Short-Term Revenue Pressure 27:22 Reason 5: Discounting as a Substitute for Sales Skill 31:20 The $120,000 You Gave Away for Free 34:48 Four Questions to Ask Before You Ever Drop Your Price ADDITIONAL RESOURCES: - Alloy Personal Training [https://alloypersonaltraining.com/] - Learn About The Alloy Franchise Opportunity [https://alloyfranchise.com/] --------- You can find the podcast on Apple [https://podcasts.apple.com/us/podcast/alloy-personal-training-business/id1477274225], Google [https://www.google.com/podcasts?feed=aHR0cHM6Ly9mZWVkcy5zaW1wbGVjYXN0LmNvbS9feE0ySnAwTw%3D%3D], Spotify [https://open.spotify.com/show/5hgUCzsWGcZNiyorfg21RzE?si=PUcwa4wASsWNnC85kLez9A], Stitcher [https://www.stitcher.com/s?fid=456592&refid=stpr], or wherever you listen to podcasts. If you haven't already, please rate and review the podcast on Apple Podcasts [https://podcasts.apple.com/us/podcast/alloy-personal-training-business/id1477274225]! To learn more about the Alloy Personal Training Franchise Opportunity, visit 👉 http://bit.ly/alloy_franchise [http://bit.ly/alloy_franchise]
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