• EDUCATE. EMPOWER. SUCCEED.
  • Subscribe
  • Newsletter
  • Media Kit
  • Contact
  • Login
Club Solutions Magazine
  • Topics
    • Leadership
    • Marketing & Sales
    • News
    • Operations
    • Programming
  • Magazine
    • Current Issue
    • Past Issues
    • Subscribe
    • Newsletter
    • Media Kit
    • Contact Us
  • Continuing Education
    • Club Solutions Leadership Summit
    • Club Solutions Leadership Retreat
    • CS Connect Virtual Event
  • Supplier Insights
    • Brand Voice
    • Supplier Voice
    • Supplier News
  • Podcast
  • Webinars
    • Thought Leaders: A Virtual Roundtable Series
    • On-Demand Webinars
  • Buyer’s Guide
No Result
View All Result
  • Topics
    • Leadership
    • Marketing & Sales
    • News
    • Operations
    • Programming
  • Magazine
    • Current Issue
    • Past Issues
    • Subscribe
    • Newsletter
    • Media Kit
    • Contact Us
  • Continuing Education
    • Club Solutions Leadership Summit
    • Club Solutions Leadership Retreat
    • CS Connect Virtual Event
  • Supplier Insights
    • Brand Voice
    • Supplier Voice
    • Supplier News
  • Podcast
  • Webinars
    • Thought Leaders: A Virtual Roundtable Series
    • On-Demand Webinars
  • Buyer’s Guide
No Result
View All Result
Club Solutions Magazine
No Result
View All Result
Home Column

Sales: Do You Have Tightwad Customers?

Rachel Zabonick-Chonko by Rachel Zabonick-Chonko
November 25, 2016
in Column, Marketing & Sales
0
Tightwad
Share on FacebookShare on LinkedIn

In order to sell to your customers, you must know who they are. And when I say “know who they are,” I mean know what type of spender they are.

According to neuroeconomic research, there are largely three types of buyers: Tightwads, Average Buyers and Spendthrifts. Each have different spending patterns that influence how and why they make purchasing decisions.

As a result, knowing what type of spenders you have within your business can give you an advantage when it comes to marketing or selling to them.

According to the research, consumer spending patterns are broken down by percentage as follows:

  1. Spendthrifts: 15%
  2. Average Buyers: 61%
  3. Tightwads: 24%

According to this research, Tightwads are people “who feel intense pain at the prospect of spending money, and therefore tend to spend less than they would ideally like to spend.”

Spendthrifts are people who “feel insufficient amounts of pain at the prospect of spending and therefore tend to spend more than they would ideally like to spend.”

Obviously, the Tightwads are the customers who can give health clubs trouble — the customers who fight tooth and nail to avoid buying personal training packages, add-ons — and therefore don’t contribute to ancillary revenue.  

And based off this research, Tightwads make up roughly 1 in 4 of your customers.

So, how can you get Tightwads to open their wallets? Here are a couple tricks you can use to make the process easier:

  1. Make the price a bargain. Although you don’t want to offer a discount to Tightwads on personal training packages, breaking down the cost by session, versus total cost, may make the price more appealing to them. That is because Tightwads tend to balk at high prices, so explaining the value they get per session can make the offer more enticing.
  2. Emphasize value. Because Tightwads have such a hard time spending money, you must emphasize the value of what they’ll be spending money on. These customers will be your hardest sell, so bring your A-game when it comes to explaining how your product will benefit them and what value it brings.

Although there’s no easy way to tell if your customer is indeed a Tightwad, you can get a hint based off their reaction to certain offers, programs or products.

And if you think they’re a Tightwad, keep this research in mind — you may just get them to open their wallet a bit more at your club.

Tags: Sales Blogspending habits
Previous Post

New E-Book Predicts the Future

Next Post

Virtuagym Increases Revenue and Member Satisfaction for 4:13 Fitness Center

Rachel Zabonick-Chonko

Rachel Zabonick-Chonko

Rachel Zabonick-Chonko is the editor-in-chief of Club Solutions Magazine. She can be reached at rachel@peakemedia.com.

Related Posts

Gen Z Members
Column

Create Meaningful Experiences for Your Gen Z Members

September 18, 2023
How To Human
Column

How to Human – Part 1

September 11, 2023
Hospitality
Column

The Importance of Hospitality in the Fitness Industry

September 5, 2023
Retreat
Column

5 Things I’m Looking Forward to at the 2023 Leadership Retreat

September 1, 2023
diet and exercise
Column

Diet and Exercise: The A Team

August 28, 2023
Full-Price Programs
Column

Selling Full-Price Programs During Slow Times

August 21, 2023
Next Post
Virtuagym

Virtuagym Increases Revenue and Member Satisfaction for 4:13 Fitness Center

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Facebook Twitter Instagram LinkedIn
Club Solutions Magazine

Club Solutions Magazine is the #1 business resource for the health and fitness industry. Established in 2003, Club Solutions provides best practice, business resources that educate and empower health club professionals.

EDUCATE. EMPOWER. SUCCEED.



The Current Issue

September Issue 2023

September 2023



Browse

  • Home
  • Subscribe
  • Newsletter
  • Media Kit
  • The Magazine
  • Buyer’s Guide
  • Contact Us

© 2023 Club Solutions Magazine. Published by Peake Media.

No Result
View All Result
  • Topics
    • Leadership
    • Marketing & Sales
    • News
    • Operations
    • Programming
  • Magazine
    • Current Issue
    • Past Issues
    • Subscribe
    • Newsletter
    • Media Kit
    • Contact Us
  • Continuing Education
    • Club Solutions Leadership Summit
    • Club Solutions Leadership Retreat
    • CS Connect Virtual Event
  • Supplier Insights
    • Brand Voice
    • Supplier Voice
    • Supplier News
  • Podcast
  • Webinars
    • Thought Leaders: A Virtual Roundtable Series
    • On-Demand Webinars
  • Buyer’s Guide

© 2023 Club Solutions Magazine. Published by Peake Media.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In