The Ascension Business Model
Matt and Rick discuss the concept of an ascension business model for the fitness industry. Learn how ascension effects revenue, retention, and the lifetime value of your members.
An ascension business model for the fitness industry basically means the journey you take your customer though in your business. It can be based on revenues, or in a fitness business it could be in the programming. It is what you offer the customer so that they can be involved in the brand for a long time. The more that the customers feel connected to the brand the more they will spend.
You are only going to lose a customer if you run out of things to sell them. If you think about that, then you understand the ascension business model. You also understand why not taking your customer on the ascension process, you are actually doing them a disservice. Customers want to reach their goals while you want more revenue. This is a win-win for both of you.
However, all the ascending services must be related to the client’s goals. You cannot just sell products or services that are outside of their goals. If you’re not ascending people over time, you are going to lose them for not allowing customers to reach their goals.
Listen in to understand the ascension fitness business model and see some examples of ascending services you can offer in the fitness business.
- What is the concept of ascension in a fitness business (04:14)
- You are doing your customers a disservice by not selling them other services that may help them reach their goals (06:26)
- You’re only going to lose a customer when you run out of things to sell them (08:11)
- How the ascension business model works on the revenue side of the business (10:51)
- Some examples of items you can sell to your members in addition to gym subscription (15:16)
- How the ascension model improves your customer retention rates (19:15)
- Why your ascending services must be related to the client’s goals (22:43)
- Ascending model in relation to gym programming (23:51)
- Finding revenue opportunities by offering solutions to client’s problems (28:59)
- If you’re not ascending people over time, you are going to lose them (30:58)
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