"And it all comes down to making sure that our prices make sense." Today, Alex (@AlexHormozi) discusses the importance of raising EFT prices for legacy gym members and how to handle the situation with honesty and respect. He emphasizes the need to focus on profitability and offers tips on how to communicate the price increase effectively.
Welcome to The Game w/Alex Hormozi, hosted by entrepreneur, founder, investor, author, public speaker, and content creator Alex Hormozi. On this podcast you’ll hear how to get more customers, make more profit per customer, how to keep them longer, and the many failures and lessons Alex has learned on his path from $100M to $1B in net worth.
Timestamps:
(0:51) - Careful communication for raising gym prices
(1:43) - Ethically explain need for profitability with price increase
(3:15) - Address concerns and negotiate alternative terms
(5:43) - Personally contact customers to discuss pricing changes and benefits.
(7:30) - Explain the necessity of raising prices for business growth.
(8:51) - Increasing blended average EFT for higher profits and capacity.
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