If 2020 has taught us anything, it’s to expect the unexpected and diversify our skills and products as fitness brands.
While fitness brands, personal trainers, and workout studios have experienced multiple setbacks this year, don’t count the fitness industry out just yet. By expanding revenue streams and taking a hard look at sales processes, you can minimize financial losses and continue to thrive as a business.
You might consider incorporating components into your brand to accomplish this, such as building brand awareness on social media, serving as a thought-leader online, launching a fitness app, or developing digital content and merchandise.
Member retention is another key to business success. It’s one thing to network and attract new customers—it’s another to keep hold of your current community. By diversifying your revenue streams and continuing to provide a high quality of customer service, you can ensure demand stays high.
The benefit is each of these elements is primarily online and doesn’t require direct contact to enhance customer experience. This is essential as the general public is hyper-aware of germs and illnesses that spread during physical contact.
Let’s discuss creative ways to increase profits via digital products and services as a fitness brand in a virtual setting.
Go Virtual with Your Fitness Brand
When diversifying your portfolio as a fitness brand, it is an excellent idea to go virtual with workout classes, personal training, and other forms of community support.
Consider your customers. Where do they currently spend the majority of their free time? What kind of resources do they have access to, and how can you best support them? What benefits might you offer your members to enhance their life and allow them to feel inspired amid global catastrophe?
These are the questions you must ask yourself as a fitness brand owner. The key is to understand your company values and serve as a source of inspiration for your community. Many online mediums share visual and written content with your target audience.
For example, you might decide to offer free sessions with a personal trainer on Zoom. You might provide multimedia content on current fashion styles, workout clothes, performance wear, and other categories of gym clothes. You could share thought-leadership content on nutrition and supplements. You might even offer services such as online workouts or training sessions.
Whatever the case, the key is to provide your audience with value-based content. But first, they must understand your brand identity.
Hone in on Your Brand Identity
Brand identity consists of the styles—both tangible and intangible—that represent your global brand. It’s a collection of elements that a company creates to portray the right image to its target audience.
This might include a combination of a sign, custom website, fun store space to sell clothing and activewear, logos, and a robust presence on social media.
When developing a solid brand identity, you must first discover your brand’s vision and its position amongst your target audience. Support your mission with quality resources and individuals that support your efforts.
Leverage the Power & Influence of Social Media
Once you create a clear mission and understand the benefits your members have, it’s time to focus on leveraging the power and influence of social media. Suppose you look online, on Instagram, for example. In that case, you’ll see a plethora of content on personal training, workout clothing, performance-based workouts, and other fun content that pertains to the fitness world.
This is an excellent example of how a company, personal trainer, or athletic brand connects with its target audience and provides value. The reason value-based content works is because members or followers are exposed to your brand’s logo, mission, workouts, website, and store in a fun and casual manner.
Consumers understand that you have a shop with workout wear and other gym-related products, but it’s not forced. You can offer them to join your fitness community, communicate with other members, gain access to exercise videos and custom insights, but are equally enthusiastic about those individuals on a free account. There are free short-version videos that allow individuals to sign up without being afraid of, or deciding on, a purchase.
This positive brand image shows that you are interested in helping your consumers and company supporters live their best life. You aren’t gimmicky or forceful. Instead, you offer tips and resources to your audience because you care—you’re authentic and a team player.
Showcase these attributes on your social space to create an even more genuine and impressionable image for your clients. Odds are, you’ll see more individuals join your team, an increase in fitness clients, and an improved exercise platform week after week as individuals create an account, read your tips, frequently ask questions and share feedback, and foster hope and support for your community.
Be Present on Social Platforms Where Your Audience Spends Time
Along with leveraging your activewear shop or fitness brand on social platforms, you must also be sure to join the right platform. Think about your clients, their personal life, where they prefer to consume their content, research a service, or engage with others. This is where you need to be.
As a gym or fitness brand, you must maintain a consistent brand identity online to increase brand awareness. As your fitness clients and fan base grows, you’ll also be able to do sponsored workouts, paid ads with other brands, and showcase your style for additional revenue.
Be Consistent & Engaging
With content created on the right mediums, you must also be consistent and engaging with your audience. If they comment on your style, exercise workouts, body, or activewear, comment back. Be polite, personable, and on-brand. Also encourage reviews as this is an excellent learning tool for your company.
Remember, your life is an example for them. Your fitness workouts, services, and brand image are influential and impactful. Remember this and take accountability for your actions, understand your social impact, and stand up for the right brands, workouts, and fitness brands that parallel your beliefs.
Launch a Fitness App
When considering creative ways to increase profits as a fitness brand or service online, you might also decide to launch a fitness app. Fitness apps are an excellent way for brands to showcase their service, provide guided workout routines, and other content related to a consumer’s daily life.
Incorporate a section on form and proper lifting habits. This is essential as form is one of the most common causes of injury for fitness amateurs and professionals. A fitness app can enhance your community, increase demand for your brand, and stand alone as an excellent source of additional revenue.
Diversify Your Portfolio
The key is to diversify your portfolio and adequately prepare to stand against any life-altering conditions, such as the Covid-19 pandemic. Life can change instantly, and having only one stream of revenue is potentially hazardous for any brand or individual. The key is to have multiple forms of income, from investments to social media, fitness apps, guest appearances, etc. This will ensure you are well-prepared to handle adversity.
Develop Digital Assets & Sell Products
Our final tip is to develop digital assets and sell products online. This can be a great way to generate additional income and reach a larger audience with your message. There are several ways to do this, so be sure to research what will work best for you and your business. But, once you get started, promoting and selling online can be a great way to spread your message and make some extra money.
While fitness brands, personal trainers, and workout studios have experienced multiple setbacks this year, don’t count the fitness industry out just yet. By expanding revenue streams in your life and taking a hard look at sales processes, you can minimize financial losses and continue to thrive as a business for life.
Consider our above tips and remember to secure the right team and support.