As the final quarter of the year approaches, ambitious studio owners might find themselves anxiously checking their annual targets to see where they measure up. The actions you take now directly impact how you enter 2025 and whether or not you hit your business goals. With only 70 business days left in 2024, it's time to develop your marketing and sales strategies to finish the year strong and set yourself up for success in the new year.
According to research, 34% of business owners report their highest revenue in Q4. Whether you're aiming for increased revenue, better retention, or improved cash flow, the final quarter of the year is where the magic happens. By laying out a strategic plan for the next 90 days, you are 60% more likely to hit your annual goals than if you approached it without clear objectives.
If you haven't yet mapped out Q4, now is the time. Start by reviewing where your business stands today—both in terms of financials and key performance indicators (KPIs). Ask yourself:
A well-thought-out plan for the next three months based on what your business needs most will help you overcome any gaps between where you are and where you want to be. Whether that's by promoting a major Black Friday promotion or tightening up your retention efforts, strategic planning can get you there, so use this reflection as the foundation to map out your final quarter strategy.
The most successful studio owners are the ones who plan. Studies show that business owners who actively strive to achieve predetermined goals:
When you see stats like these, taking 20 minutes to plan your quarter in advance is the obvious choice.
Once you've identified your studio's focus, the next step is to zoom in on your KPIs and create your roadmap. Take an honest look at what you need to bridge the gap between where you are now and your Q4 goals.
Marketing:
Retention
Profitability
Systems
For example, if profitability is your most pressing issue, a targeted Black Friday campaign with pay-in-full incentives could help bring in fast revenue. If new leads during a slow season are your goal, events, like Bring a Friend Month can increase your reach beyond your usual marketing efforts. Limit your priorities to less than three focus areas because research shows that's when we're most successful.
When we think of the holiday quarter, Black Friday and Christmas sales are often at the top of studio owners' stress lists. It's unsurprising because these sales can majorly boost your bottom line, and your success depends on standing out from the slew of offers that will be volleying for your client's attention. Rather than throwing a flash sale together and hoping people buy, think of your approach as a comprehensive strategic runway over the entire three months.
1. Planning – Start designing your holiday promotions by mid-October and aim to have your Black Friday and Christmas sales entirely created by the first of November. All campaigns should have a 60-day runway since studies show that 60 days of marketing can increase your conversion rates by up to 25%.
2. Promotion – Share, share share via email, social media, or paid ads. We know you need 60 days of runway time for sales, but you need at least 30 days for internal event marketing, too. For example, If you're running bring-a-friend events or have a fun holiday member party that your clients need to know about, make sure you give them plenty of time to get it on their schedules.
3. Presents – If you have retention at the top of your goal list, December is the perfect time for sales and community-building. You can host holiday-themed classes, give member gifts, or organize a toy drive to engage your members and keep your studio top-of-mind as the year comes to a close.
Break Down Your Goals Into Actionable Steps
Now that you've identified the primary areas that need attention, it's time to break down your goals into manageable pieces. Start by setting three quarterly goals, each with three "needle movers"—the major milestones that will help you get from where you are now to where you want to be.
- Quarterly Goal 1: Increase lead generation by 20%.
- Needle Mover 1: Launch a targeted social media ad campaign.
- Needle Mover 2: Run a Bring a Friend promotion with a "Friends Bring Friends" offer.
- Needle Mover 3: Host an October open house for prospective members.
- Quarterly Goal 2: Boost retention by 15%.
- Needle Mover 1: Implement a holiday appreciation week.
- Needle Mover 2: Create a holiday challenge with prizes.
- Needle Mover 3: Schedule members-only holiday party.
-Quarterly Goal 3: Increase overall sales by 10%.
- Needle Mover 1: Create attractive holiday promotions
- Needle Mover 2: Comb through your client list to identify VIP clients who should be reached out to personally with a sale offer
- Needle Mover 3: Mark down your retail for a holiday shop event.
Once you create your goals, write them down and check in regularly to increase your odds of success by 42%.
By planning strategically, breaking your goals into actionable steps, and allowing plenty of runway for marketing and promotion, you can finish 2024 strong and set yourself up for an even more successful 2025. How will you make the most of these next 90 days?
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As Black Friday approaches, most shoppers prepare to take advantage of the best deals and discounts of the year. While retail giants often dominate this shopping event, 71% of surveyed U.S. shoppers are willing to pay more to support small businesses during Black Friday and the holiday season.
The fitness industry revolves around trust. Clients are coming to us with some of their most personal goals- to lose weight, feel confident, and live longer- these are heavy and intimate, which means if we don't have a client's trust, we won't have their membership.
