MA Business Success 93: End of Financial Year Sales

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Graham: Hey, everyone. Welcome to the "Martial Arts Business Success" episode number 93.

Phil: We are here, live, as always, week in and week out giving you great business advice. So Graham, what are we talking about today?

Graham: Well, it's actually a pretty timely one. So this one is all about the end-of-financial-year sales. And for here in Australia, and for those guys who are watching and listening to us globally, in Australia there tends to be a lot of different big companies that really get on the bandwagon when it comes to end of financial year. So what we figured that we'd do is a way to retarget some of our older clients or, again, students--prospects more the case--that have come in, have not completed right through to the sales process and the enrollment process. So, Phil, what are some of the lists that we look to target and that sort of stuff?

Phil: Cool. So the type of lists where we're gonna target these offers, whether it's an end of financial year or five sale or Black Friday or whatever it may be, is the people who have been in contact with you, but for now, for some reason, aren't current members. So people who have either showed some interest, but didn't join, you should have a list of those guys, people who have been a member and canceled and anyone else who you've got contact details with, who you've been in contact with but are currently not a member. And at the end of the day, what you wanna try to do is send them that email. And for example, what we do is we send them a...for example, we just did one or we've done one in the past, where we do a 72-hour sale, and it's like something really cool, really good offer. We don't discount fees, but it's like, free uniform, don't pay anything for the first month, come in down, first 72 hours, come grab now. And that brings that urgency and scarcity involved in someone's need or want to be able to do martial arts with us. It also just removes that barrier, like at some point [inaudible 00:02:00] or, you know, we all have different reasons why we won't do something. And you know, generally with the three things that they generally would be, is: they don't have enough money, they don't have enough time, or they're not fit enough. They're, generally, the three things why people will not come and join your school. All right?

Graham: For sure. Guys, just in this sort of topic... And I know we talked about a particular moment in time for us here in Australia, in the financial year, so coming to the end of June, start of July, what you gotta also remember too is you got a lot of resources within your business anyway. Phil was talking about those lists, if they've come to you at some stage, they've not pulled the trigger on that. You've also got resources that are around you on a regular basis, both siblings and parents. I'm just gonna sort of segue into an offer that we generally run a little bit later in the years for us, and that is a "siblings train for free," or even better, "parents train for free." And when done in the right timing, you would be surprised at how it changes the dynamics in your school and allows you to, I guess, get a really good return-on-investment from a very minimal outlay of cost, because they're already there, they already know all about you. So, again, all we're talking about with this, I guess, retargeting different audiences, you spent the money initially getting the lead, so let's not just let it go to bed and just not use it. What you've also got too is now you've got current students who are at your school, but there's family members that you haven't necessarily used up and tried to target as well too. So you may use that as a chance to go a one-month offer for siblings. What we do, though, is pretty crazy, but it has great success. Three months. Three moths free, no charge at all. Definitely for the adults, definitely for the kids. We've had some great successes with that. And look I can't encourage you guys enough not to scrimp on it, and you gotta do it in a way that allows them to see the value. If I just quickly remind you guys, the whole idea behind this is to make sure it's a gift that you wanna give them, the way that you present this. It isn't a scam, it isn't something that you wanna try and get them as a client just because you're desperate. It's more about a way to go, "You know what? I value you as a parent of this school. I appreciate you having your kids here. For that, I've got a reward of three months of training for you, and here's when it runs." So, use it as a gift, but you still make sure that you get those runs on the boards as well too.

Phil: This is what you don't wanna do. Ready? You don't wanna just all... The thing about email marketing and any type of offers that you do put out there on your social media channels either, what you don't wanna do is only have offers. So you can't just be saying, going, "Offer this, sale this," you know, and just be doing offer, sale, offer, sale, offer, sale, because what happens is they just become blind to it and oblivious. And even though that offer might be really attractive, really good, because they've seen it, they're just being sold to all the time. So it goes back to the last podcast that we wrote about with content. Now, your content is equally for your social media channels for the people you don't have, but your content is also for the people you do have. So you wanna make sure that your list is what they call warm, your warm list. Keep it warm, because the minute it goes cold, then it is really hard to reinvigorate that list and get them into a buying state. So how do we do that is, you know, weekly email updates, what's going on in the school, newsletters, educational-based stuff--tips, tools strategies all that kind of stuff--so that it's almost like it's...

And, you know, there's a famous social media expert called Gary Vaynerchuk, which you may or may not of heard of, and he's written a book called "Jab, Jab, Right Hook." And, basically, what that means is give, give, give, give, give some more and then finally ask, whereas most people have got it very wrong. They they ask, ask, ask, ask or sell, sell, sell, sell. Well, you've gotta bait them up. And we know this in martial arts. If you wanna knock someone out with your right cross, you got to bait them up with that jab, you know, so move around. And that's the same with your marketing strategy. You know, that may be a good analogy for you. Jab it up. Give them some content, give them some value. Give them some stuff that they can share and get engaged with and then, bang! End-of-the-year financial offer or Black Friday or end of sale or Christmas special. So, you know, I would suggest look at your calendar where you are in the part of the world that you're at. Look at what sort of holidays, bank holidays, you know, school holidays or whatever it may be. Don't go overboard, but select some strategic ones like the parents train for free one that you did, Graham. And you know what? It'd be awesome to do that every month. You know what I mean? But it would just fall on deaf ears. We do it once a year, we do it towards the end of the year because we know the December time is quite low for martial arts schools, people don't like to commit. So we do that around November so November, December, January, they're all in there locking and loading, classes are filled up.

Graham: Guys, another strategy that we're doing currently right at this stage is we've got a target a campaign towards a warm list, as Phil pointed out, guys who aren't members, we've got their details and all the rest, that's perfect. Number two. We are now targeting...we've got a Street Awareness week, a street-wise week where our current students get a chance to do this real-world self-defense sort of skill set, separate to their normal class, but they get a chance to bring their friends down. So what we've actually done, we've got two marketing campaigns going on to attract leads. One does have no affect on the current students, because they don't see it, it's marketed to someone completely different, and then the correspondence to the students is all around this particular event. So it's very much bringing your friend through a specialized week of training, and from there we build a relationship and obviously look to try and gather that information. Hopefully we can get them over to our sales funnel and get them through as a member. But if we don't, guess where the details go? They go on to that other list, which is that warm list, that have come in, but at some stage haven't decided to pull the trigger. So we do that, so you're not just relying on one aspect. You've got multiple streams working for you that work together instead of conflicting as well too.

Phil: Absolutely. Hey guys, just something I wanna reach out to you. If you're enjoying our content, if you love listening to us, watching us, reading the blogs or whatever it may be, please leave a review on iTunes or YouTube or wherever you're seeing...wherever you consume our media. Please. Reviews are what help us know that we are hitting the right buttons with you and your business, and it would just mean the world to us. So please send us a review on iTunes, it will be fantastic. And also, just let us know if there's anything in particular that you want us to cover, like... You know, at the end of the day, we're here for you. We're not doing this for us, we're doing this for you. So if there is anything specific in your school or business that you want us to cover, please reach out, [email protected] And don't forget, if you really love the content and you wanna get involved in the TIMA mastermind and get some great online content, hundreds of videos, downloads, check lists, event plans all the stuff that we talk about is all in the online course. Now, it's $99 a month, but you know, if you type in the code "try5" you're gonna get access for that. Five days for $5 only, and then you can check it out and see what you like.

Graham: Hey, guys, just before we sign off, I like to make sure we're giving you plenty of time to arrange your calendars so you can come and join us at one of our live events we've got coming up in Sydney at the end of this year. So on November the 19th, Sunday, November 19th, we've got a full day of action-packed instructor training, stuff for your students and, more so, some business developed for you guys so you start the 2018 year with an absolute bang. So, guys, if you're really keen, you wanna find out some more details, I'll have it posted everywhere. But if you wanna get on early, send me an email, I'll give you all the relevant details. The TIMA crew, you guys who are involved in us, in this network, you guys get access first before we release it to the general public. So, guys, get on board, and we'd love to see you face to face and chat a little bit more as well too.

Phil: All right, guys. Well, it's enough for us information. Now it's time for you to go and implement, so you have a killer week. Go get 'em.

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