{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Episode 316: The Price of Perception: Why Free Isn\u2019t a Strategy and Discounts Aren\u2019t Loyalty","description":"What We Cover In This Episode:   How research confirms that offering experiences for free often creates lower perceived long-term value for your clients [4:20]   Why perceived value drives conversion far more effectively than merely lowering the actual price of your service or product [6:15]     The \u201cDiscount Dilemma\u201d and the need to be cautious when using deep discounts [8:28]     The key reasons that effective introductory offers should be treated as a strategic client on-boarding system designed to build habits [10:00]&amp;nbsp;     A reminder that scarcity and urgency still matter and can significantly boost conversion rates [12:04]     How to boost client lifetime value by adding automations and strategic outreach points [18:08]   Why successful businesses learn to re-price their services based on the value delivered, not affordability [19:31]   Strategies for implementing a system to celebrate loyalty moments and milestones and the benefits of doing this [19:53]     How the way to overcome the fear of increasing prices is by using compelling data to reframe the value proposition [21:12]    Quotes: \u201cThey are finding that studios who run continuous trials often see retention drop by 25 to 35% after the first month because clients never built a habit to begin with.\u201d [Nick, 4:47] \u201cThere is something about unlimited. It doesn't create any urgency, it doesn't force you to put anything on the calendar.\u201d [Nick, 5:48] \u201cYou are basically saying that your intro offer is a taste of the lifestyle. It is a taste of what you're going to get at the studio. Make your intro offer around what you expect their membership to be. [Nick, 10:52] &amp;nbsp; LINKS:&amp;nbsp; Features, Benefits, and Impact (Psychology Today) HBS Online's summary of Value-Based Strategy: A Beginner's Guide to Value-Based Strategy&amp;nbsp; Discover the top performing intro offer types for your business (Mindbody)&amp;nbsp; Got a Question? Book a Call with the fitDEGREE Team!&amp;nbsp; Learn More About All of Our Partners (Including LoopSpark &amp;amp; LezVU) and Get Exclusive Offers Visit the fitDEGREE Knowledge Base Send Megan Your Playlist or Discuss the Podcast Here!&amp;nbsp; fitDEGREE\u2019s Business Portal support@fitDEGREE.com https:\/\/www.instagram.com\/fitdegree\/ \u200b\u200bhttps:\/\/www.instagram.com\/fitspot_guru\/&amp;nbsp; https:\/\/www.fitdegree.com\/blog&amp;nbsp; https:\/\/www.youtube.com\/channel\/UChJ5rK6zWPXjbxtUQx3ys9Q https:\/\/www.tiktok.com\/@megan_fitdegree &amp;nbsp; &amp;nbsp; &amp;nbsp; &amp;nbsp; ","author_name":"fitSpot Guru","author_url":"http:\/\/fitdegree.libsyn.com\/","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/39013565\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/39013565"}