Are you running your Facebook ads in the dark? In layman’s terms, can you really justify the money you are spending every month on your Facebook ads?
Most fitness owners are spending important marketing dollars while having no idea what their ROI (return on investment) is from the ad dollars. Having ROI at the forefront of your mentality when you are running Facebook ads is crucial for the consistency factor of the ads, because if you do not have a grasp of your ROI, then you are most likely going to turn your ads off. Make sense?
Your goal is to simply NET 10 new full priced members each month. So if you lose 5 members each month, that means you need to get 15 new members to net 10. That means you need a tracking mechanism in place to track what you spend on your Facebook Ads versus how many new members and the amount of new monthly EFT revenue that was created. EFT stands for ‘electronic funds transfer’, essentially electronic automatic payments every month.
I want to make you aware of how you can predictably get new members, every month, down to the dollar.
And the best part, it’s just really simple math logic…
Let’s say your AVERAGE member pays $125 per month:
✅ Spend $1000 on Facebook ads
✅ You get 100 leads for $10 per lead
✅ 65% of the 100 leads book an appointment
✅ 70% of the booked appointments SHOW UP
✅ You now have 45 people coming in (opportunity to sell)
✅ You convert 30% of the 45 opportunities and get 13 new members
✅ 13 new members, paying an average of $125 = $1,625 in EFT
In this scenario, you spent $1,000 on Facebook ads to acquire $1,625 in EFT. Keep in mind, in addition to making money on the first month of your Facebook Ads, all of the new members have a LTV (lifetime value) associated with them. If your average monthly retention is 6 months, that means the $1,625 in EFT is worth $9,750 on average.
Here is what you specifically need to obtain those results:
- Facebook ads getting leads for $10 as the average – by having proven ad campaigns that convert
- 65% of the leads booking an appointment – by having a personalized yet automated nurture system responsible for getting leads to book, without calling.
- 70% of your booked appointments showing up – by having specific messaging and personalized reminders in place to ensure they show
- 30% of your sales appointments signing up – by having a streamlined sales process that converts the prospect to a full priced member the first day they come in
The 70% show rate is the key metric that will ultimately scale your membership predictably. If you are struggling to ‘get people in through the doors’ then this is the metric that you want to focus on, because it will always determine the amount of sales opportunities you have to sell a membership.
Paid Attraction Metrics – a Facebook ad tracking sheet to help you predictably grow your membership, track your ROI on your advertising spend, and know down to the dollar how much it cost you to acquire a new member from your Facebook Ads.
Access the paid attraction metrics sheet here.
Instructions for how to use the paid attraction metrics sheet here.
Membership Acquisition Coaching Program:
The FitTraffic Membership Acquisition coaching program helps you install these specific systems in place for your fitness business to reach all of those benchmarks above. Those key metrics are the benchmarks for all of the fitness locations in the Membership Acquisition program. Learn more about the program here: https://fittraffic.com/