Preise erhöhen, ohne Kunden zu verlieren

0:00Do you add a credit card processing fee for every Okay, good. You're doing that. Are you billing every four weeks? >> That's No, >> do that now. So, that'll add 8% to your revenue. It'll drop straight down. Have you read Gym Secrets? >> Uh, no. I haven't, >> dude. Read the book. >> It's about gyms. [laughter] It's like about your business. >> You love gyms? Really? >> Yeah. Uh, so there's a price increase letter that's in there. You can literally copy the letter and send it to your members of how you do it. But you want to do like two or three pricing changes all at once in that one letter so you can just like in one fell swoop just knock out. Exactly. Like, and so when you make the change, just say, um, hey guys, effective today, we're changing the pricing, but since you've been such loyal members, we're going to grandfather you for 6 months. And they're like, oh, that's But you're still going to just bump them in 6 months, but that way they feel better about it.

0:43>> You give it enough time to >> Yeah. And dude, all the changes, the thing is they don't even The thing is is if you're going to do that, it's like you want to also add other [ __ ] because going from monthly to every four weeks, no one even cares. >> It's nothing. >> Doesn't even matter. So do the the four weeks one. you can consider putting in an annual renewal fee which is usually you want it to be equal to like one to two months. So think like 99 to 199 as annual renewal which just so it's like you have initiation fee it's just every year there's also a $200 fee that adds on it sounds like nothing but it's another 16%. And if in your business that you know you're running 20% margins it's like well we added eight we added another 16 we added 24 we just doubled profit with two pricing changes we had the 4% from the processing fee thing.

1:25The key with the processing play is you don't want the 4 percent. If you get it, fine. What you really want is the second form of payment. And so you say, "Hey, it's 200 bucks a month or whatever, 100 bucks a month, uh, plus a 4% processing fee." And they're like, "And they always like no one no one doesn't close because of it." You've already seen that. But then you say, "Oh, uh, if you want, I can wave that for you." And then they're like, "Oh, yeah, that'd be great." Like, "Well, just give me a second form of payment. We only have the processing fee because if we have to go chase after you, just cost us resources." But the thing is is that getting the second form of payment can decrease churn by 30%.

1:58And so if you can decrease turn by 30% that's worth way more than 3% more on topline. You does that make sense? >> You mean an alternative source of credit other than a credit card >> or a second credit card. >> Give me two cards. Exactly. Go to the second one. >> Yeah. Now the 2011 play of that is you get AC. So automated clearing house. You know that right? And so AC does a double whammy for you because one, you save 2% on the fee because AC is cheaper. But on top of that, you also now have a second form of payment. So you reduce the churn and you get the decrease in payment processing. You get both. Again, this stuff doesn't sound like much, but when you add 2% 5% times like six different moves, all of a sudden you go from a 20 to a 50% margin. But when you throw in that annual renewal fee,

2:43>> so in the letter, it's basically section one is what we already do for you right now. That's amazing. And that you remind them of the value. The second is what I'm going to do with all the money that I'm I'm not a greedy bastard is section two. I'm actually going to be reinvesting in training, getting more equipment, blah blah blah blah blah. And in a gym, it's so obvious. Like it's so easy to be like this equipment's not cheap and you pay 100 bucks. Each one of these pieces is 10 grand, right? Like cost a lot of those >> paint on the walls, >> right? Yeah. All this stuff, right? And so uh this is what we're going to And then you soften the blow at the end with the but don't worry, we're going to grandfather you in for the next 6 months. You'll get all the benefits and then you're going to and then we'll bump you up. And if it feels like it's a big bump, you can do it in two phase. You be like in 3 months and the I just wrote a whole thing on this. It's top of mind.

3:23But basically, you want to say um I'm going to give you let's say the difference was um 200 bucks is the total difference over 6 months between what they are paying what they should be paying. And you say, "Okay, I'm also I'm going to give you a $200 credit to the gym." And uh and then when you send them the thing, they can see the credit being applied. And so people are way more willing to let a discount disappear than a price go up. And so you say the price goes up, but don't worry, I'm going to give you this discount. And so then the discount is what dis disappears rather than the price going up. So it sounds minuscule, but it's actually way softer.

3:56Psychology.