Only half of small businesses make it past their first year. Of those that reach their first birthday, only about 40% see a profit.
There are a number of make-or-break factors that determine a business’s success, but one of the most common is lead generation. Consistently generating new leads is what keeps a small business pumping. When a business owner stops putting in the effort to find new customers, new customers typically stop coming. Go figure…
To prevent your health and fitness business from becoming one of the many failures, here are four strategies to double your leads and grow your empire.
1. Word of Mouth
Growing your business through referrals is an excellent way to keep the lead flow coming. Word of mouth is free, its reliable, and the only thing you need to provide is a service worth talking about.
Word of mouth happens when a customer or client goes on to tell their friends, family, business partners, and neighbours about the excellent experience they had with you and your company. Because almost everyone is more likely to use a company or service provider that has been recommended to them, this form of living advertisement is great for your business.
2. Get People Involved
If you already have a base of loyal customers, use them to your advantage. Your loyal customers have friends and family who could probably also use your service, you just need to be introduced as we pointed out above.
But, for the introductions to happen you generally need to sit around waiting for someone, somewhere, to talk about your business to someone else who also needs your services, and this could leave you waiting a while.
Instead, create a referral program for each of your customers. When they direct someone your way who makes a purchase, they may get a discount, freebie, or other incentive that makes them want to keep directing new business to you.
Build on your referral program and create an event, like a contest or competition, that gets the customers you already have involved in generating new leads for your business.
During the competition or contest, keep your expectations and rewards high. Rather than giving small discounts as you would in a referral program, make the prizes something people really want.
Get creative, partner with someone for the prize and make sure you grab attention.
3. Partner Up
Find someone in your niche, or someone just slightly out of your niche where you may still share the same customers without competing, and create a partnership.
As a health and fitness business, you may want to partner with a life coach, a nutritionist, or even a health foods store to assist in promoting and driving leads back and forth. The question you want to ask yourself is, “where does my target market go before and after they come to me?” Answer that, and it will change the game for you.
Because this kind of partnership works both ways, you will be introduced to their loyal customers and they will be introduced to yours. You can also work together to create webinars, programs, or post on each others blogs, which are all excellent ways to drive traffic to your business.
4. Know Your Market
You cannot hope to market successfully if you do not know your market. Think about what solutions you can provide to the people of your target audience.
This really should be number 1 on this list, but the important thing is that you understand what they need, and what they need from YOU. How can you, and only you, help them? How can you do it better than anyone else? These are the questions your marketing needs to address.
Remember that the importance of internet marketing is consistently growing. We’re really only on the ground floor of the internet. You wait… You’ll need to focus just as much effort on your digital presence as you would more traditional marketing avenues, and it’s important to find something that works for your business.
If you want to keep your business from being included on the list of businesses that never see past their first year, you need to be consistently generating leads and new business. Using these four strategies, you can double your leads and turn your health and fitness business into a health and fitness empire.
Knowing that right now is the best time to get new ideas on how to grow your business – that actually work – we’d like to offer you a totally free introductory resource, so you can scale your business up fast. It’s an eBook, 6 Critical Strategies To 5X Your Health & Fitness Business In 2016, and it outlines some of the initial steps so you can see that doubling your business is a lot simpler than you might think. It’s not like 450 pages of noise that you may have downloaded before. It’s brief, to the point and highly actionable. And you should grab it now. Click Here if you’d like to kick massive goals this year. It’s the starting point of lasting and sustainable principles that will change the game for you in your health and fitness business, and feel free to leave any comments below.