We live in a world where recurring revenue is king and let’s be honest, what’s not to like? Knowing that you have the security and safety of a set amount of money coming in each month is the dream of any clinician, instructor or personal trainer. Whilst subscriptions are by no means a new business model, the potential for them has blown up in recent times..
As a society, we are now using subscriptions for things that would have been unthinkable 10 years ago – vitamins, ready-to-cook meals, razors, music, tv and film, the list goes on. Infact, 9 out of 10 UK consumers hold a subscription for their favourite brand, service or store and it’s time to get your clinic, classes and sessions in on the action.
The evolution of subscriptions
Subscriptions aren’t just beneficial to your business, they also offer customers are sense of regularity, convenience and belonging to your brand – reducing churn and ultimately creating advocates. The flat monthly fee makes it easier for people to budget by being able to predict and control what they spend on services, increasing the chances of clients attending your treatments, classes or sessions each month.
Standard subscriptions are fine and on the whole serve their purpose, consumers pay a nominal fee and in return get X amount of 1 product each month in return - a model that works for Netflix, Dollar Shave Club, Pure Gym and many other brands. However, with the evolution of multidisciplinary clinics and fitness studios that offer additional services such as nutritional consultations, talk therapies and physiotherapy alongside classes, this model becomes slightly less appealing to both clinic and client.
Clients are better informed than ever before, and competition is rife amongst clinics, studios and gyms to not only deliver a best in-class client experience but also to ensure clients get the best value for their money.
Transform your packages, subscriptions and courses with Connect
TM3 Connect gives you the tools to build flexible packages at the touch of a button which can be sold as one-off purchases or subscriptions. Packages can be made up to include classes, treatments, talk therapy sessions, consultations, physical stock and more, meaning you can build packaged subscriptions tailored to the needs of your clients rather than to the limitations of a system.
Packages, subscriptions and courses are a great tool to help your business stand out from your competitors. Being able to enhance the recovery journey of a patient with 3 physiotherapy treatments and 4 clinical Pilates classes sellable in one package or being able to offer a bootcamp made up of 3 different class types and 4 nutritional consultations could be the difference between a conversion and losing a potential client to a competitor.
To find out more about subscriptions, packages and courses on TM3 Connect, click here to book a demo.