Wellness professionals, how are you doin’? Among our list of topics to research and write about, we believe this one is highly important, since one should never stop finding ways to boost their revenue. That’s like saying one doesn’t want to reach their ultimate goal. So, to help you along your business journey, we’ve come up with 6 simple ways to grow the value of your services and implement more successful revenue-building strategies. Take a look below!
- Your Clients or Students
They deserve the top of the list because they’re the ones who bring in revenue for your business. How they can boost it, though, is the real point of interest. The good news is that there are ways that work for the whole spectrum of wellness centers and independent therapists. First, building trust and relationships will encourage them to continue using your services over others. You can also utilize emails, newsletters, and other methods of communication to connect with them on a personal level. Another option is improving their experience by offering quality features, services, and techniques, which will not only make them happy, but you’ll be happy, too, as you notice more referrals and positive reviews.
- Selling New Services or Products
Meeting the needs of your clients or students shows that you’re engaging them, listening to them, and serving them, thus adding value to your business. So, what are they asking for? What do you believe will better enhance their time with you? Perhaps you can offer yoga mats at the front of your studio, host a Pilates instructor once a week, or retail wellness-related books and magazines or natural and plant-sourced vitamins. Another option is workshops. As a separate revenue stream, you can price workshops differently than your everyday services, which will add more cha-ching to your business. Also, if those clients see value in your expertise, there’s a good chance they’ll be ready to commit to you for a longer period of time, converting them into regular clients.
- Promotions, Deals, and Monthly Packages
Our most recent blog post focused on thanking yoga students with promotions and deals during the holiday season, but, really, it’s beneficial for everyday use, and for any client. For instance, you can provide BOGO deals, special deals, and one of our favorite suggestions, gift bags with wellness-y products! Perfect for special occasions, holidays, and national health-related days, your gift bags can include anything from essential oil and loose leaf green tea to a scented candle and herbal bath sachet. What a great way to keep clients around!
- Eliminating the Middleman
A middleman or sales representative is entitled to a percentage of any sale or deal they happen to be part of, but if you run a smaller business, there are ways around it! The good news: Rather than paying them, you can promote and sell products on your own, whether in person or on your website, take orders, and provide them directly. This creates a win-win for you and client, but why, you ask? Without a middleman, you can also offer them a lower price while getting higher gross profits for yourself.
- Analyzing your Pricing Strategies
Question: Are you confident in your current prices and how they capture the value of your products and services? If you’re not very confident, then we say it’s time to make a change. While it may not be possible to check the prices of every competitor’s services out there, it’s important to get a feel of what some of them are charging and then raise or lower your prices accordingly. Raising your prices can create a higher perceived value of your business to clients and students, and also increase your revenue without increasing sales. After your research, you’ll learn how to choose a price that will maximize your profit.
You had to know we would include our business management program on the list! While the above suggestions are helpful to your business, HealingRadiusPro can take it one step further. Claiming your business will allow you to focus more time on your clients as we focus on managing your day-to-day responsibilities. To add to that, your business will be listed in our premier online marketplace of wellness centers and independent therapists, which means any potential clients out there are just a click away from finding your business! After the initial “love at first sight,” when their eyes connect with your profile, they’ll be able to book a class or appointment with you at any time, day or night.
Are you ready to start making more money? Click here to claim your business and then let us know what you think!