This article is about a success model to think about. Take the aspects of the story which you feel translate to your business. Believe me there is something in here for everyone.
Have you heard of SoulCycle? These are branded spinning studios where everything is about soul. You can learn more about them here.
First consider the sleek and clean look – white walls, their branded yellow colors on the bikes and other aspects of the studio. Of course the instructors wear black – more or less!
Oh and they are not instructors – they are rock star instructors who guide the riders. The wording does not call the locations spinning studios, instead – indoor cycling reinvented.
Let me stop here for one moment. Right now you should understand this is no fly by night business. This has been going on for over ten years and the following and demand is increasing not decreasing. Branding is well thought out across the board.
There are a number of class types which are all named Soul something and there is a description. A good amount of space and wording goes into great detail about how to purchase, reserve, wait list, cancel, switch and when traveling book at another location.
An offer is available for a 101 for those who wish to try it out.
Allow me to stop here for a moment. What is happening here is SoulCycle has in essence created their own language and culture. They have intentionally built this in order to form a community. In fact on their web site they have a place for their community to share and hang out. Peer pressure will keep people coming to workout. A community will bring people together for fun, support and a place to feel wanted.
Create relationships with people. Think marketing, branding, environment and culture.
The pricing is displayed right on the web site. The model utilized is buy a series of class units and the more you purchase the lower the cost is to you per class. A time limit is placed with each option. This is the reason a great amount of detail is given to how to reserve a bike, how to wait list, how to cancel and more. The 101 is a low cost item to allow a newbie to sample the goods. Consider for a moment how this type of pricing structure might fit into your business model. There isn’t any small type or hidden secrets. Everything is out in the open and described in great detail.
In summary, take a look at your business model, read through these examples again, see where a few changes in your branding, marketing and community building might make all the difference in the soul of your business. Would you like to have some help with it?
Mitch Tublin is a business consultant, coach, trainer and speaker who is based in Stamford, CT.