When it comes to competitive pricing, you want to make sure you are comparing apples to apples and oranges to oranges. You want to make sure you have done an in-depth competitive overview of all your competition within your market area. At MMC®, we start every project by doing an in-depth competitive overview within the 5 to 10-mile radius of every health club we work with. We want to find out what health club products and/or health club services the competitors are offering so we can incorporate some competitive pricing. We want to structure the pricing to be competitive with our client’s competitors but at the same time we want to get the most revenue for their product.
You can have your competitive price go below your competitors but what you should do is find out what your competitors are offering for a specific service and then present your service below theirs if at all possible. Make sure that you are offering that service before you try to arrange your pricing structure to be competitive with your competitors.
Health club marketing is about finding out what the conditions are in the marketplace before setting up an effective pricing structure for your health club products and health club services that can draw members in the door which is what everyone wants to do to increase revenue.
It is not necessary to always go below the competition’s price. You can actually go above the competition’s price. The key thing is how you make your price attractive to the member to where they perceive your pricing is being competitive and your product superior. This is not difficult to do if you just look at all aspects of what you offer.
Competitive pricing is the key to getting members in the door but is not going to dictate your business model. You don’t have to discount, all you have to do is look at what your competitors are doing then set up your pricing structure in a way that is attractive to the public.
Learn to use competitive pricing to your advantage and you will grow your health club and your health and fitness career.
For more free tips on increasing your health club membership base through health club marketing, health club campaigns, professional health club membership sales and advancing your health and fitness career visit us today @ www.healthclubmarketingmmc.com or call 904-217-3762.