State Of Wellness: Trends Report

Spring Three | business trends

Did you know that the 10 markets that make up the wellness economy are now worth $4.2 trillion!



Over the past 2 years this has grown 12.8% and represents a whopping 5.3% of global economic output.



These are big numbers. As you know - there has been a shift toward integrating movement and wellness into everyday life and this move towards prioritizing wellness is changing the shape of our industry and the habits of consumers.



So… what makes up wellness?



The Global Wellness Institute focused on 10 specific categories for their research:



Personal care and beauty: $1.082 trillion

Healthy eating, nutrition and weight loss: $702.1 billion

Wellness tourism: $639.4 billion

Fitness / mind-body: $595.4 billion

Preventive and personalized medicine and public health: $574.8 billion

Traditional and complementary medicine: $359.7 billion


Wellness real estate: $134.3 billion


Spa economy: $118.8 billion


Thermal / mineral springs: $56.2 billion


Workplace wellness: $47.5 billion


Spas, wellness tourism, and wellness real estate were shown to be the fastest-growing sectors over the last two years. But, many of the categories above blend together as the industry moves even more towards delivering a complete and rounded experience for it’s consumers. Just like you might have contemplated adding spa or nutrition services to your studio offerings.



The big players are doing the same. 



With Peloton bikes inside hotel rooms and Exhale (barre and spa) being purchased by Hyatt Hotel group, fitness and travel are merging because of consumer demand and habits.



Another area prime for big growth is workplace wellness. Some large companies recognize the benefits (think increased productivity, less time off) of integrating fitness and wellness into the workplace, but there is so much more that can be done.



What we know is that people who engage with group exercise feel more fulfilled than those who do not by nearly 30%



You can relate to this - you know your clients feel this way about your business.



Regular group fitness participants also report closer relationships with family and friends, enjoying their work more and finding time for play and having fun.



We know that consumers are seeking a more connected and holistic approach to balance the stress and pressures of every day life - perhaps this is why Yoga has grown in popularity - the number of people practicing yoga has increased 54% in the last 10 years!


Let’s dive into some more details on the fitness industry:


The average age of Yogis is 36 and nearly 20% are male.

We know also know that a younger population favor more intense exercise with HIIT being the most popular amongst the millennial generation and a low impact spin class is a firm favorite across all ages.



The average American spends $87/month on health and wellness, but those who engage in regular workouts spend significantly more. Top spenders are CrossFitters spending an average of $187/month on health and wellness, Yogis average the lowest of those surveyed - but still spend $131/month. 



The average income of those in the survey was $73k - with top earners choosing HIIT as their favorite workout and averaging $82k in annual income. 



On the boutique business side, there is more really interesting data… 50% of boutique wellness businesses generate in excess of $300k in revenue every year with 16% making over $500k. The average revenue for boutique fitness studios was $289,000. Nice work folks!



What about spending? I know many studios spend $249/month or less on marketing - that makes up 18% of studios. But the average marketing budget each month is $783! On average in fitness, the marketing budget is 3.4% of total revenue. Perhaps that will help guide your budget for next year?



How about staff? These are the numbers that really surprised me… of those fitness studios surveyed, the average staff size was 14 in total, with around 8 full time staff and 6 part time staff.



One last piece of data for you - only 27% of American adults visit a group fitness facility regularly - even less visit 1:1 fitness services.



So, despite these big growth numbers, there is still plenty of opportunity to continue to engage with new clients and growing your studio business.



Of those who use the MIndBody app, 80% go to group classes 2-3 times per week or more. Making booking as simple and easy as possible really helps to get your clients to be more engaged in your business.



Personally, I love to see data like this. I think seeing the bigger trends can help us all understand consumer thinking and behavior across the industry and help drive and guide better decision making within business. It can inspire us all to create more innovative methods to help clients further engage with wellness and help you become an industry leader who stays ahead in this multi-trillion dollar industry!



What do you think of these numbers? Do they represent what you see? What questions do you have?





Sources: MindBody Wellness Index Survey 2018, Global Wellness Institute,


Secrets to a stress-free holiday season

And so it begins…. the festive season is coming our way fast and with it, a great opportunity for small businesses to shine!

The Secrets To A Stress Free Holiday Season

Yes - really! 🌟

You might feel like this time of year is tough to manage because of late cancels, increased travel and frankly, because you are probably quite ready some time off yourself!!

But, if you can plan early - you can get ahead of the game, stop being reactive to the challenges of the season and actually turn it around to make it work for you!


Address schedules

It’s possible that your teachers and your clients will be traveling during the holidays. Probably pretty likely actually. Start early and be proactive about finding out how you can manage teaching schedules. Communicate changes in class schedules early and consider adding in extra sessions or classes before or after your clients travel to even out the potential loss of revenue (and progress for your client)?

Promotions

The goal for all your promotions at this time of year is retention, retention, retention. Your focus is on keeping your clients beyond the end of the year (in the new year your focus shifts toward those new clients!). So, what can you do to keep them coming back in the new year? How about an early sign up for a challenge or a bootcamp or special workshop event in January... perhaps 20 classes in 30 days? Or a 1 month unlimited special offer starting Jan1?

Show appreciation

This is the time of year to give thanks to your team and loyal clients. Whether this is a gift, a hand-written note, a holiday card or a text! Invite your clients and teachers to share their appreciation of each other too. Actively cultivating gratitude will help reduce stress and strengthen the bonds of friendship and community inside your studio.

Gifts cards

Help your clients take the stress out of their holiday shopping - and boost your business too! Gift cards can be a great revenue generator for your business (suggest your clients give the gift of wellness to their favorite friends!) or offer special bundles of classes and merchandise - such a neat way to help out your clients while getting your studio name out to friends of your clients!

Marketing Campaigns

Put in the effort to “seasonally brand” your business and you will be connecting with your clients and their friends. Dress up for Halloween and put an Elf on the shelf and your business will come alive oline! Don’t forget to show up on social media consistently - you don’t want to let the world forget about you. That extra nudge to make it into the studio will help your clients stay on track!

Throw a party!

Holding a staff party or even a holiday party for staff and clients is a great way to show everyone a good time. It could be themed, filled with games or a simple open house event in the studio. You decide!

Carve out some me time

Just like summer, December and January are unpredictable months. As a business owner, be conscious of your energy levels especially if you have big plans for the upcoming year (and I know many of you do). Be sure to build in time for yourself to rest and energize when your schedule allows. This is crucial to your ability to manage your team, your clients and your business!


What else do you do at this time of year to make sure you end the year strong and filled with gratitude?

10 Ways To Boost Your Customer Experience

I recently wrote about the importance of creating a wonderful customer experience. (If you missed - you can read more about that here).

SPRING THREE | Studio Business Tips


As a follow up, I wanted to share with you some ideas that I’ve seen work really nicely to create that sense of community, nurture and appreciation within your studio.


So, if you are a little stumped about what you can do to up your game, this list might offer some inspiration.



Offer all your clients towels. If you are a studio that get people super sweaty cold towels are a really nice touch!


Staying hydrated is crucial to wellness. So why not offer your clients water. This could be via a water cooler, bottled water OR a jug filled with water and infused with lemon, or cucumber. When the the temperatures start to drop, why not offer warm tea instead?


Speaking of warm… nothing is more important than a warm welcome! A big smile goes a long way. Your clients should be made to feel as though they are in the right place from the moment that they walk in through the door.


And then - don’t fear the follow up! Just as the welcome is super important, following up makes all the difference especially for new clients. This could be a simple text after class or a phone call to new clients asking about their experience.


Celebrating your clients birthday doesn’t have to mean giving a huge fancy gift, but if you ask for your clients birthday when they sign up, why not make them feel extra special on their big day. A simple email, a little give away like a pair of socks or water bottle is all that is needed.


People love a give-away! Why not invite your clients to enter a challenge with a prize draw? The challenge could be taking an extra class, taking a session with a different instructor or even a bingo style game. Participants have the chance to win some studio swag!


A referral program can be as formal or as informal as you like. Personally, I like letting your clients know that they can bring a friend along to their sessions early on in their relationship with your studio. Your current client gets a nice reward for bringing in a new face and the new client will get your fabulous intro offer!


Do you know their name? Combine a warm welcome and greeting your clients by their name makes you a winner in customer service!


If your clients are foodies, sharing your favorite restaurants or even your favorite recipes can be a really nice way to get people talking in the studio about something else that they love :)


Or having a book club can be really fun to get people talking about life outside the studio. The more your clients talk with other clients, the stronger your community will be. A book club can be as formal or informal as you like. It could be as simple as a  book recommendation or you could make it into a real social event!


Once you start to think about all the things you can do to develop the relationship with your clients, there is always so much more! And… often it’s the smallest things that make the biggest difference.


What do you do to make your clients feel valued?



How Often Should You Email Your Clients?

Your email is by far the most effective form of marketing you can do for your business.

Spring Three | How often should you email your clients?


Data shows that email marketing has the highest ROI (Return on investment) of all!


The reason is that the investment itself is relatively low (it is cheap) and the audience is already considered “warm” - they already know you or have heard of you because they are in your database.


WIN WIN!!


But, the question of how often to email your client list comes up often. In fact, I don’t think I’ve worked with anyone on marketing who hasn’t asked this question!


Unfortunately, there isn’t a definitive answer to this question. (THAT would make life too easy!)


But, let’s figure out how to determine what is right for YOUR fitness studio business:


If you are already running email campaigns frequently, then you can start by looking at your performance metrics.  How many people are on your email list? How often are they opening emails? Are people clicking on links in your email campaigns? How many are unsubscribing? Pay attention to these numbers! Once you have a baseline in place, you can test different strategies and see what works and what doesn’t.


If you are relatively new to sending out emails or perhaps haven’t been focused on this then there is a good chance your subscribers won’t know what to expect from you. Your email campaigns are not only a great way to engage with your clients and promote your business, but they are also a GREAT way to show that you are reliable and trustworthy (two important brand values!). How? By being consistent. If you send no emails for months at a time and then send 3 in a week you are not sending a great message about what clients should expect from your business.


As a business looking for long-term clients (remember it's all about building relationships) your email list is a list of your people - your tribe, your clients. This isn’t a faceless list… this is a list of people you know filled with relationships you have nurtured. The better you know your clients, the better you’ll know what they’ll want to hear about (or not!). So that’s a pretty important component - think about what your clients would appreciate (or not). What do they want to hear about? Or not? If you’re not sure - it’s time to get closer to your clients!


“What do I write?” is the second question I get asked most often about email marketing. When it comes to content, it has to be relevant. Every message you send has to have a unique value so share lots of useful information, education and insight into your studio business. That said, you are competing for the attention of your clients. They have many, many other emails in their inbox so there is no need to write a novel! Keep it short and to the point. If you want to go into more detail on something, put a link to the full content on your website. Vary the content so it stays fresh and exciting and… HAVE FUN!


Data shows that most small businesses send emails around once per month. But, I would recommend that you send your database an email once per week - at minimum. More if you have a promotion or challenge or something super important to share.  If you are currently a member of the once-a-month club, you could slowly increase the frequency of your emails. Start with 2 x month for a couple of months and then up it to weekly. Generally I find that studios send LESS emails than they should… so if you are uncomfortable with the number of emails you send your clients (as in you feel like you might be doing too much)… you are probably right at the sweet spot!

How to show you care:


  • Send a hello email to all new clients and introduce your studio

  • Be consistent - have respect for landing in the inbox of your clients. Stick to a regular schedule!

  • Be engaging - share relevant and inspiring content and information that your clients want and need!


Emails are a great way to nurture the relationship you have with your clients and develop relationships with existing clients. What is your email strategy? How often do you send emails and how do you integrate that with other marketing tools like social media? 




3 Reasons Why Customer Experience Matters

Spring Three | Marketing for fitness studios

If you deliver an incredible pilates (or barre or spin or HIIT) class but don’t have amazing customer service to match… guess what else will be missing? 



Clients.



In this highly competitive boutique fitness industry, incredible client service and client experience is an enormous contributor toward what makes one business successful and another fail.



Good customer service is part of your marketing AND part of the value you deliver. Time and time again, I hear the atmosphere and sense of community inside the studio is a big part of what keeps clients coming back for more pilates (or barre or spin or HIIT).



It’s what can set you apart and help you to increase your list of loyal long-term clients.



New clients? Check



Increased retention? Check



Revenue growth? Check



Here’s why delivering a highly-engaging high-quality customer experience matters:



There are really only two things people consider when they are deciding to purchase from you. The first is do I have enough money? The second is will this improve my situation? In the first, the only advantage you can have is lowering price, which obviously is not great for profit. But, the second is where you have the opportunity to really WOW your clients with unforgettable client service that sets you apart and establishes you as a high value problem solver. 



You have clients who are social. What do they talk about? Everything. Yup - everything. We all love to talk about our experiences and the experience clients have in your studio is no different. Clients will talk about something that is either amazing or absolutely awful. So true - right?!

You don’t want to be in the latter category, and you don’t want to fall in the middle where you don’t get a mention at all. Studios who take really good care of their clients and are consistently looking to elevate the client experience get a constant stream of referrals.



Social media makes everything louder. Before social media ruled our world, one client with a bad experience didn’t destroy a business. But today, a single review can make or break the desire for a new customer to give you a try. Instead of shying away from managing the way your studio is perceived, you have to step into the driving seat and take control of your message by sharing the impact you have on your clients and in your community. Know what you do well, know how to share it and share it often!



Good customer service is the same as good marketing. 



Invest the time in designing and delivering an experience for your clients that will elevate your value, your business, and your bottom line.

Good luck!