5 Steps for Increasing Revenue in 2021

If you’re looking forward to the end of 2020, you’re definitely not alone! It’s been a tough one, with most of us trying to stay afloat, protect our businesses, and increase revenues. Here are just a few of the challenges you’ve faced this year:

• Moving your business online.
• Upgrading your health and safety protocols and cleaning measures.
• Keeping your waivers and insurance up to date.
• Reopening and transitioning to a hybrid business (including in-person and online services).

Now it’s time to move forward with a solid strategy for success in 2021! Focus on getting new clients through your doors and developing a retention plan to keep them interested in your offers. This article is your step-by-step guide to increasing your revenue and bettering your business in 2021.

1. Create a process for onboarding new clients

Get started on the right foot with a way to attract clients and keep them interested! Here are a few ways to engage them long-term:

• Intro offers: Get new business with a special, one-time offer for prospective clients with a trial membership for in-person, virtual, or on-demand services. Include a free class or a 30-day unlimited membership at 50% off your regular rates to show them what you have to offer.
• Encourage clients to use your services: Next, motivate clients to visit your business on a regular basis. They’ll get into the routine of using your services daily, making them more likely to commit once the introduction is over. This way, you focus on retention right from the start.
• Let them know it’s time to renew: When it’s time to renew, WellnessLiving lets you automatically send a custom email, text, push notification, or postcard to encourage upgraded client memberships. Build your relationship with them step by step for a loyal clientele that’ll stick with you.

2. Offer flexibility with your memberships

Offering something for everyone will increase your revenue. The more options you have, the easier it will be for clients to find something that appeals to them. Here are some ideas to structure your pricing to include variety for your customers:

• In-studio memberships: This traditional in-person membership allows you to upsell with extra services, workshops, events, or perks like on-demand classes.
• Virtual business: Offer more value for less cost with your virtual studio’s livestreaming classes, so clients can take classes or use your services from home. Make it easy to manage with WellnessLiving’s Zoom integration, so you can simply set up classes and invite clients to join.
• On-demand studio: On-demand makes it convenient for clients to take advantage of your services on their own schedule. Upload and store your videos right in your software with FitVID on Demand. You decide how to grant access using customizable settings like length of service, type of service, difficulty level, and more.
• Private training: Up your value—and your revenues—with custom programming and personalized service. Offer a range of pricing for varying budgets. Your clients can get better value with maximum results, more accountability, and one-to-one attention.
• All-in-one option: What if clients want to mix it up? No sweat! Create a membership package just for them with in-studio, virtual, one-on-one training, and on-demand options. You can include unlimited services for one fee or set a specific amount of classes clients can access each month, with tiers like 10, 15, or 20-plus classes.
• Family memberships: Set up recurring monthly memberships that clients can share with one or more family members. Connect family relationships through WellnessLiving, so a spouse or parent can book or pay on their family’s behalf.

3. Build your reputation through testimonials and reviews

Build your revenues by building your reputation! Make it easy for people to leave reviews, so you can make a name for yourself in 2021. The more hype you get, the more clients you’ll attract!

How does it help your business? Research shows that 87% of consumers won’t even consider a business with low ratings, 92% of people read reviews before choosing a business and 80% consider reviews just as important as a personal recommendation. Reviews and testimonials go a long way to boost your business, so make them a priority for 2021!

Luckily, WellnessLiving makes it easy to request and manage reviews so you stand out, get more clients and increase your revenue. Here’s how it works:

• Build your review presence: Quickly set up profiles so clients can find your business and leave reviews on Facebook, Google My Business, your WellnessLiving business directory, and any other review sites.
• Request reviews: Let your happy clients do the work for you! Reach out with an email, text, or push notification asking them to review your business or rate your services. This can be done online or right on the Achieve Client App.
• Manage reviews: Managing reviews is a snap! As they come in, your team can simply respond, flag, take steps to remove inappropriate posts, and highlight your favorites on your website or Facebook page.

4. Track your sales and revenue

You can’t increase your revenue unless you’re in the know. With WellnessLiving’s reports, you’ll get to know your business inside and out! Use the data reports to conveniently keep track of sales, inventory, and more. Here’s how:

• See future earnings with projected revenue based on pending auto-renew memberships.
• Know exactly how many gift cards, memberships, classes, products, and services get purchased.
• Access a complete list of transaction details from list of sales, payment type, refunds, and more.
• Understand how much inventory is on hand so you can stay on top of your stock.
• Compare year-over-year or quarterly data to get a look at the big picture.

5. Make adjustments to your marketing and target clients

Now that you know where your revenues are coming from, it’s time to put your marketing hat on!

When you understand your clients and their spending, you can target automated marketing campaigns to keep them engaged or win them back. Here’s a list of reasons it makes sense to reach out via targeted emails, texts, push notifications, or direct mail postcards:

• Find out how many classes per month a client attends and suggest they switch to an upgraded membership or plan.
• For new clients, send a message when their trial offer is expiring and it’s time to choose a membership option.
• Do clients love your live or virtual events? If you’ve got clients wanting to join, make sure they receive the message in time.
• For clients who purchase from your retail store, let them know whenever new stock arrives.
• Are there clients you haven’t seen for a while? Create a campaign to win them back.

Take the right steps, get more money in your pocket

It’s time to make 2021 your best year yet with a winning strategy that will increase revenue. By onboarding new clients, increasing flexibility, building a better reputation, tracking the money coming in, and fine-tuning your marketing, you’ll be well on your way.

WellnessLiving can keep your business growing with expert tools to make it easy. Want to learn more? Contact WellnessLiving and book a free, no-commitment demo with WellnessLiving today.