Starting Out: Affordable Marketing Strategies for New Fitness Studios
Starting Out: Affordable Marketing Strategies for New Fitness Studios Implementing the right marketing strategies could bring your business to new heights. However, many marketing channels are cash burners. Not only that, finding the right marketing mix takes time. Both are scarce resources for early stage fitness entrepreneurs. Moreover, 47% of small business owners handle marketing efforts on their own to control the cost and quality. Thus, it’s critical that you understand what are some affordable yet effective marketings strategies that you can adopt on your own. Start a referral program Many case studies have shown that referral programs are the easiest and cheapest way to attract customers with the highest lifetime value. Studies revealed that individuals who are referred by their acquaintances are 4x more likely to make a purchase with a 37% higher retention rate compared to non-referred individuals. Since referral programs are highly dependent on word-of-mouths, develo...