Your Own Marketing Funnel for Your Yoga Studio
You can gain a lot of insight about your visitors and online advertisements if everything is set up properly on your website. Different from advertising in a local newspaper or a flyer, online can u give insight into what you spend and what you get in return.
You can create a marketing funnel with this information. A funnel is a completed process, including all the steps in between, to gain a new customer. Within the yoga studio I use the following steps:
The local target group is the basis for our yoga studio. A part of this target group ends up on the website through online marketing (in particular advertisements). A part of this number does a request for a trial lesson. Most of them actually show up. A number of them decide to become a customer.
Entering your numbers
If you have the steps of your funnel in order, you can enter the numbers. I advise you to do this monthly:
• 1.000 website visitors 100%
• 50 requests for a trial lesson 5% (from the previous step)
• 40 trial lessons candidates show up 80% (from the previous step)
• 10 visitors become customers 25% (from the previous step)
* It’s useful to add the percentages as well. This way you can easily see if you are doing better than the previous month.
The right marketing strategy to grow your yoga studio
If you want more members in your yoga studio, my strategy and vision consist of 2 parts:
1. Spend as much money as possible on marketing
2. Ensure that you have money to spend on marketing
Unless you won the lottery, your money will probably run out once. The solution is a positive ROI (Return On Investment). You can spend your money only once, but if you can get more money out of the money you invest, you can spend more every month.
Calculate your personal ROI for your yoga studio
You can easily keep track of how much money you spend per visitor if you have a good overview.
In my example I have 1.000 website visitors. Let’s assume I paid € 500,00 on advertising. That’s € 0.50 cents per visitor. I now know how much I spend on a new customer, thanks to the funnel.
€ 500,00 for 10 customers = € 50,00 per customer.
If these 10 customers all have bought a lesson card of € 60,00, I have converted € 600,00. Minus € 500,00 marketing costs, is a profit of € 100,00. So, the next month I can spend € 600,00 on marketing.
The Holy Grail for every online marketer is a funnel with a positive return on investment (ROI). With this funnel, you’re able to reach interested people every month so you can receive them in the yoga studio.