The data is clear. People practice the most yoga while on autopay, even over annual pass holders.
Monthly autopay members feel like they’re part of the group. Seeing that payment come out of their account every month keeps them motivated to show up and get the most for their money.
And it’s not just good for members… studios with a higher number of autopays have a more balanced cash flow and make more money long-term, even over big ticket items like a 20+ pack.
How do you get members on autopay? It comes down to pricing.
People make purchasing decisions when they have clarity about the product they’re getting and are feel confident it’s the best deal for them.
Truth → The most important thing about your pricing is how it guides your students.
You direct your students every day – in and out of class. What would you tell a student coming to you for advice on how to succeed in their yoga practice? No matter what they want from yoga, the path to get it is the same. What do they need?
They need FREQUENCY!
No matter what their goal is – lose weight, gain flexibility, look better in the mirror, peace of mind, decreased stress – the answer is getting on the mat regularly. Don’t sell them anything less.
Position your pricing to help your members succeed!
Direct students to the offers that will help them practice regularly. When they’re new, get them into the intro offer. When they’re established, get them on autopay.
Why don’t class packs work? Students often stretch their class passes out…meaning they only go as often as they need to in order to make sure no visits expire. We see it time and time again. Honestly, this isn’t what’s best for their bodies (or your business) in the long term.
How can you avoid this pitfall? Making your autopay a better option than buying a 10-class pack… especially when they go twice a week.
Your pricing must match what you’re telling students to do!
An unlimited membership encourages students to go more frequently in order to make sure they get a good deal for their money. That means they’re showing up more → and getting better results. You’re guiding them to achieve their goals and creating brand evangelists – just because you sold them the right offer!
Don’t get me wrong… I’m not saying you shouldn’t sell someone a 10-pack if they want it, but your pricing should be structured away from it. Encourage them to buy the autopay. It will benefit them with frequent practice and benefit you with consistent cash-flow.
Back up your words with your pricing.
Ultimately, an autopay membership makes the most sense for your members. Get them there with your pricing!
When someone new walks in the door, get them started with your into offer. From the very beginning create a pathway to autopay with a membership option, rather than a class pass.
The intro offer is the start of your sales funnel. Getting newbies on that path is more important than making a ton of money on that initial sale. Make it a no brainer for them. Keep the pricing at double a drop in class and about half your autopay membership.
While we’re on the subject… DON’T SELL YOUR DROP IN. Keep it priced high. Its main purpose is to communicate the value of a single class and guide new students into choosing the intro pass. No one should be buying it, unless they’re in town for their sister’s wedding or a work conference.
Truth → The intro offer is the BEST option for new students. Sell it that way.
Don’t be shy selling your intro offer. You KNOW it’s the best option for your new students and you want them to succeed. That’s the core of what you’re doing.
Convert new students into dedicated members!
It’s not over once they’re in your intro offer. Your end goal is for them to practice regularly at your studio and be on an autopay. To do that, communicate your value to them frequently. Give them a taste of what you have to offer and leave them wanting more.
Make it easy to step into autopay. Remember the pricing guidelines? For double their intro offer they can have all your studio has to offer on a monthly autopay membership. The pricing supports your sale.
Keep the autopay accessible. The price point doesn’t need to be super high for it to be profitable. Think of the cheapest annual membership you’ve sold in the last year. Now divide that by 12 and see how it compares to your autopay. If you start there, you can always raise the prices later.
Truth → Funnel everything into the autopay, unless they ask for something different.
Selling the autopay isn’t much different than selling new students on the intro offer. You’re selling access to the experience your studio offers. The autopay is simply the easiest way to get that experience.
For more tips on how to restructure your pricing and take your studio to the next level, book a FREE Strategy Session today!