“I want to sell my workouts online, but I don't know how to define the price of them”
When you start a Training business or sports advice, you have to be clear about two things. The first is what services you are able to offer, based on your training and experience. And the second, what price you will put on your online personal training. Determining the appropriate price of your online personal training depends on several factors:
- From your business
- Your customers
- Your group of potential customers
- Your environment (other trainers or fitness professionals)
- And what your services include
However, to start solving the two issues mentioned at the beginning of this article, you'll first need to know what aspects you should take into account before you sit down and define the price of your services. And without more to add, let's move on to see them!
#1 Make your services worthwhile (and what they cost)
For this first point, we have taken as inspiration the Value Delivery System of our friends from Online Trainer Academy to show you that, even if this is cliché, the first step to success is to offer quality service.
First, let practice and experience speak louder than what your CV says
A good practice for identifying the needs to be met by your customer is to ask yourself the following question and, of course, to answer it in detail.What skills or tasks should your client do to achieve their goal? - We recommend that you write at least five points. With the answers, you will know what your proposal should have and then communicate it in a striking way to your client.
Second, it offers close and personalized customer service
It sounds a little obvious, but many trainers think that offering personalized attention is about being aware of their clients 24 hours a day through WhatsApp, video calls or phone calls and this is not entirely correct. Quality support would be, in addition to answering questions, motivate and accompany them throughout their process, as long as it is through the training software you use and within your working hours. And now to finish this first point...
Finally, keep track of goals and objectives.
One of the things you have to do as a fitness professional is to check that your clients meet the challenges or programs you set them to, otherwise, provide them with help and alternative plans. The ideal is to document, within your own software for managing your training business, the entire customer process. You can carry out a short weekly questionnaire of knowledge and satisfaction with the training and diet plan, to detect how to support it and motivate it to continue climbing towards its goal.
#2 Take these aspects into account to define the price of your online training services
Immersing your training business in the digital world opens many doors for you to grow, especially since you have a much larger group of potential customers and a software for personal trainers which can help you multiply your income. Now let's look at some aspects that you should consider when sitting down to define the price of your training services:
The set
One way to increase customer retention and take advantage of its advantages is offer training programs, rather than individual sessions.You can group your services by a unified price that appears to reflect a discount. And in fact, to ensure higher revenues, you can set the price per hour a little higher than usual (that's okay, there's nothing wrong with this as long as you don't alter it excessively) .However, there is one factor that can be against you if you don't know how to differentiate yourself and add value... competition. And here we are going to clarify something for you quickly... There are 3 methods for setting the prices of your services... the method based on competition, demand and cost. So that you don't get mixed up deciding which of them you'll use, we'll recommend two, the competition (as we're going to explain now) and the cost method (located in point three of this article).
The competition
It's important Take into account the competition, as long as you feel that (for now), you are not able to differentiate yourself or to provide more value to the customer and that, in turn, this value is appreciated, demanded and perceived. Notice, since you don't know the competitive cost structure, it's crazy to enter into a “price war”. It is best to use your prices only as a reference to know what type of customers you should focus on and how you will offer your services, so that they reflect the advantages and benefits of working with you. However, if you wanted to define the price of your services based on your direct competition, you can create your own strategy depending on where you would like to locate yourself:
- Above the competition, provided that your services are really different or have a prestigious image, superior to that of your competitors.
- At the same level of competition. If what you offer is very similar to what your competition offers, you can use their prices as a reference and define yours very close to their figure. Be careful with the reference you use, placing the same prices as a fitness business that is considered a leader in its sector, can position you as an unoriginal and attractive brand.
- Below the competition. You can offer your services at a lower price than your competition. But beware, this works if your services are basic and seek to satisfy a wide sector of the market.
Psychology
A good strategy to define your prices can be to use Prices finished in nine or in odd numbers. This method is known as “psychological pricing” and, from the point of view of this study, a price that ends at zero leads to thinking that it has been rounded upwards, while an odd one leads to thinking the opposite. There is a myth that these prices can only be used for basic services, with little added value, little personalized and offered by many competitors. This may or may not be true, however, for a fitness business, it's a good strategy if you're trying to attract new customers who want to train. If you're not quite sure about applying this technique, you can start by doing a test, changing the price of your specific products or services to an odd one or ending in 9.
Creativity
When selling your services, focus on the value you are going to offer beyond a training or nutritional plan. And you will surely wonder... Why should I focus on creativity when defining my prices? Easy! because the added value you communicate about your services will be more impactful than their price. Your knowledge can make you a TOP personal trainer, and your creativity, the only or the first coach to use it to communicate and sell in a different and original way. And this, in turn, will make more people want to pay for your services.
Always remember this... The more creative you are with knowing how to identify a need dissatisfied, address the troubles of health and training and, meeting the needs of your customers, the greater the value you add to the offer of your training services. Do you have a hard time being creative and original? Take a moment to look around and think about these questions... What has been your experience as a personal trainer? , What works? , What's not working? , What can you do that works better? Is there another type of client that would be a perfect fit for my advice?When you have the answers, work on them. Use them as part of your pricing and communication strategy.
El Tiempo
Not counting the time it takes to keep a business running is a very common mistake among personal trainers. Many people usually calculate their hourly rates assuming that 100% of their working hours will be reserved by and for their clients. If this were real, you would have to work overtime to do all the things that keep your training business running, such as administrative tasks, marketing and creating programs or plans. Your rates and prices should cover, in addition to the time you spend training your clients... the administration and development of the business alike. The key is to know how to organize and distribute time according to each task, taking into account first those that are priority or urgent.
#3 Now, put a price on your online training services
This strategy is applicable whether you are personal trainer as if you have any type of business where you advise your clients. However, you have to know that there is no right or exact price. The price you charge will depend on the customer's perceived value and the specific problem you're solving for the person. Okay, let's get to the point, the formula is very easy. Here are the first 3 steps to take, before defining the price of your fitness services: How much money do you need per month to live?
Open your bank accounts and, if you haven't already done so, do an analysis of your monthly expenses and the money you need to live. Keep in mind that each person is different and has needs and/or expenses. How many hours are you willing to work? The second analysis you have to do is the hours you can or want to work per month. But be realistic, there is no need to remind you that the full-time working day in Spain is 40 hours a week. You have to take into account the hours you will allocate to each task. One thing is the time you spend solely offering your services and quite another is the time you dedicate to marketing, sales and administration of your training business. In view of the formula that we will teach you later, the accounting of these hours must be the sum of all (a single number), however, dividing them will help you to always organize yourself and be guided by this planning, so you will avoid working more than you really can.
Watch out! Consider taxes
Third analysis and the one you like the least, what taxes are there in your country for the type of services you offer? for example, in Spain you have to count on the fact that 21% of the price of a service is VAT that you collect, and that you then pay to the state. The number that results from this operation, you will add it to the end of the formula that we will show you below.
To finish this article, we leave you with some great advice here:Don't look to add a lot of things to your service to make it look like it's worth it. Be specific, it offers the minimum that is needed by that customer with a specific problem or need. For example, to a client with back pain, you can offer a guided exercise program, a diet plan and continuous monitoring... with this, that's enough. Many trainers don't realize that, since training is something that many people don't like or struggle with, if you add to this an endless number of tasks to do, the client will lose the motivation to continue working on their goal. If the rest of the tasks are necessary, place them as an extra, so that they don't feel the obligation to do them as soon as possible, but at their own pace And time (for example, a document that you sent him to be read and applied to his process of change or evolution)... You already have it! Now, don't wait any longer and start selling your online training services, in person, or in whatever discipline or modality. There are no excuses! Ah! And if you haven't yet digitized your fitness business, you're in the right place to encourage yourself to take this big step
Start using Harbiz, the #1 training business management platform, today. You can Try it for 30 days for free and without registering your credit card... What do you say, do you dare?
