Price analysis is very important in health club marketing but most health club fail to conduct this analysis properly. Most health clubs are raising their membership fees to X but they have no solid research to substantiate the increase. What they must do is go out into the marketplace and find out what is the true value of their health club.
It doesn’t matter what you think; what matters is what the health club market thinks. Find out how much the prospective member is willing to pay before you put some arbitrary number out into the marketplace for your health club memberships. The health club market may or may not have the same perceived value of your health club products and health club services as you do. Your perceived value might be irrelevant to the paying member who will dictate your pricing structure; or at least a portion of it.
You can’t just set your desired rate for a health club membership without conducting some elementary research. What you have to do is look at the market and find out what your health club can command. Failing to analyse your pricing structure is marketing suicide. Find out how much other health club properties are charging their members. Find out what the health and fitness market is willing to pay. Then find out where you fit into the picture.
Just because you want to charge $70.00 per training session does not mean the perceived value within your health club market is also $70.00 per training session. It is perfectly fine short-term health club memberships e.g. one week, two week, 1 month and 3 months to charge whatever you want for training session because consumers are coming to train. But when you are marketing to your local market within your immediate 5 to 12-mile radius, you must do a price analysis to find out what your health club can command.
Conduct a price analysis to find your sweet spot within your community 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.