Repositioned Value Proposition Skyrockets Sales Growth
Challenge: Stagnant Sales Growth in a Competitive Industry
The massage therapy industry generates an estimated $16 billion in revenue annually in the U.S. alone.
From spas and salons to massotherapy practices, the industry is very competitive and requires business to have strong value propositions.
One massage therapist based in Avon Lake, Ohio wanted to grow her practice and questioned whether she should adjust her pricing to be competitive.
“I knew that I needed to grow the business, but I didn’t know how,” she said.
So she attended an ActionCOACH training session to learn some strategies and to gain insight into what she could be doing better with her business.
Solution: Conducted Competitor Research, Adjusted Pricing, and Repositioned Sales Proposition
During her discussion with ActionCOACH’s Dennis Willis, Rick Phelps and Mark Phelps, she was encouraged to research what her competitors were charging and what services that they offered.
In her competitor research, she discovered that the services she offers are very valuable and that her price for those services was lower than her competitors.
Upon learning this information, her belief in the value and services that she offered improved, which allowed her to confidently make the decision to increase her prices.
She repositioned her sales and marketing to focus on the value that she offered – not the price.
And her attitude, confidence, and projection in communicating her prices improved which allowed her to grow her client base.
The owner learned that price is the transactional means of conducting business, and that a good sales practice is to get away from price and focus on value.
Results: Increased Sales by 83%
After she connected with ActionCOACH, the massage therapist had grown the top line of her business by 83% over the same quarter of the year prior.
“When I came to ActionCOACH’s training, it made me focus on what my actual goals were and what I wanted to achieve,” she added. “I laid out an actual plan of how I was going to reach those goals, and one by one I hit all of my goals and eventually surpassed them.”
Just by making a few tweaks to her pricing structure and confidently selling the value of her services, the massage therapist made huge strides in a short period of time.
“Sometimes all it takes is a little bit of coaching, training, and insight for a small business owner to see a great deal of success in a short order,” said Mark Phelps.