March 6, 2025
HALO Talks Fast Break-Brian Mitchell, Promotion Vault-CEO
Today's Thursday. . .so that means another HALO Talks-Fast Break! Integrity Square Founder, Pete Moore, was out on location with Brian Mitchell (happy birthday! 🎂) who's got a LOT of great new info to share about his platform.
Pete and Brian had some thoughts on innovative techniques to enhance engagement and retention using the Promotion Vault platform. Here are three key takeaways:
- Boost Your Lead Conversion: Utilizing tailored rewards strategically can increase lead conversions by 12-15%. Offering incentives within the first three days after a lead comes in can be a game-changer.
- Enhance Employee Retention: Engaging employees with regular, small rewards not only gathers valuable intelligence but also significantly extends their employment life cycle. It's shown a 30% increase in retention with a well-implemented rewards system.
- Cost-Effective Engagement: Implementing these strategies doesn't break the bank. Allocating $240 to $600 per employee annually can cover numerous engagements that help sustain and grow your team effectively.
Be sure to check out Brian's booth #1774 at the 2025 Health & Fitness Association (formerly IHRSA) show coming up March 13-14th in Vegas.
The 2025 survey insights Brian talks about? VERY enlightening. Check those out here: https://promotionvault.com/2025-fitness-revenue-pulse-survey-insights/
Transcript
1
00:00:01,280 --> 00:00:05,040
This is Pete Moore. We are here on Thursday with the birthday boy,
2
00:00:05,040 --> 00:00:08,480
Brian Mitchell, promotion vault. We are doing a fast break for his
3
00:00:08,480 --> 00:00:12,240
birthday. Let's talk about the promotion vault operating playbook.
4
00:00:12,240 --> 00:00:15,775
What are we using to win? Yeah. Thanks a lot, Pete. Really excited to be
5
00:00:15,775 --> 00:00:19,474
here with you. And, you know, promotion vault is an engagement
6
00:00:19,535 --> 00:00:23,294
intelligence platform. Rewards have changed. It's not just about loyalty. We
7
00:00:23,294 --> 00:00:27,055
need to do rewards where we get intelligence so we could drive the life
8
00:00:27,055 --> 00:00:30,460
cycle and retention of our employees. I'll give you an example. Yeah. We have cost
9
00:00:30,539 --> 00:00:34,380
we we did a survey, seven frustrations in the fitness industry. Give it to you.
10
00:00:34,380 --> 00:00:38,220
We have leads to guests, guests to members, members to do their
11
00:00:38,220 --> 00:00:41,835
fit start, referrals to upgrades to upper tier. So
12
00:00:41,835 --> 00:00:45,675
we our playbook is tell us where your life cycle falls apart.
13
00:00:45,675 --> 00:00:49,355
Is it your guest conversion? Is it maybe maybe even goes back to your your
14
00:00:49,355 --> 00:00:52,795
shopping cart and your online joints? Where does your life cycle fall
15
00:00:52,795 --> 00:00:56,350
apart? And let's build an automation and rewards and a
16
00:00:56,350 --> 00:01:00,050
narrative with the rewards right in that spot to drive that.
17
00:01:00,190 --> 00:01:04,030
So if I'm a health club, PD Most Fitness, I come to you and
18
00:01:04,030 --> 00:01:07,870
say, hey, man. I got 3,000 members. I got a couple hundred people coming
19
00:01:07,870 --> 00:01:11,105
a month. Where do you plug in? I'm gonna say to you, listen. What's your
20
00:01:11,185 --> 00:01:14,945
is where's your biggest problem that we could move 12% and move the revenue
21
00:01:14,945 --> 00:01:18,625
needle first? Is it your lead conversion? Are leads coming Conversion, man. These aren't coming
22
00:01:18,625 --> 00:01:22,350
in. Number 38% of club's lead conversion. So
23
00:01:22,510 --> 00:01:26,189
when your leads let's say, the leads usually come in within three days or falls
24
00:01:26,189 --> 00:01:29,950
off a cliff and nobody comes in. Yep. On the third day, you offer a
25
00:01:29,950 --> 00:01:33,549
reward to get them to come in that week, and you're gonna increase those lead
26
00:01:33,549 --> 00:01:37,335
conversions by 12 to 15% right off the bat. And then if I'm talking
27
00:01:37,335 --> 00:01:40,375
to my employees, I wanna reward them for information. Let's say I'm opening up some
28
00:01:40,375 --> 00:01:43,895
new clubs in Arizona, and I wanna build a team there. You're you're starting to
29
00:01:43,895 --> 00:01:47,255
ask questions, and then you're actually getting them a reward or some kind of
30
00:01:47,255 --> 00:01:51,015
bonus? Absolutely. Again, the rewards is just a narrative that gets
31
00:01:51,015 --> 00:01:54,850
the intelligence. By giving them money and paying them to engage and be
32
00:01:54,850 --> 00:01:58,290
in a platform, they're gonna constantly give you intelligence. So imagine this,
33
00:01:58,290 --> 00:02:01,970
Pete. Your employees get a $5 high five every month and you ask
34
00:02:01,970 --> 00:02:05,090
them, hey. Is there anything that would make you leave your job? Are you interested
35
00:02:05,090 --> 00:02:08,685
in any other jobs here at the club? Have you had any life changes? And
36
00:02:08,685 --> 00:02:12,145
would you like to change maybe to one of our other locations? And it's unbelievable.
37
00:02:12,364 --> 00:02:16,205
It's showing a 30% increase in the life cycle of an employee. What does this
38
00:02:16,205 --> 00:02:19,005
cost? I mean, thousands of dollars a month to get in on you, so how
39
00:02:19,005 --> 00:02:22,450
does things start? Absolutely not. So the employee side here about you know, we say
40
00:02:22,450 --> 00:02:25,910
$240 to $600 a year per employee
41
00:02:26,050 --> 00:02:29,730
could allocate about 20 different rewards, which is hundreds of
42
00:02:29,730 --> 00:02:33,315
engagements and conversations. How important is it to, you know, keep your
43
00:02:33,315 --> 00:02:36,675
employees now? Like, what's the attrition rate on that? Oh, it's not well, so some
44
00:02:36,675 --> 00:02:40,355
of our bigger customers, you know, we're here in Arizona, have a 80%
45
00:02:40,355 --> 00:02:44,115
attrition. So moving the needle, we show a
46
00:02:44,115 --> 00:02:47,750
30% increase in a couple of the positions at the clubs by just
47
00:02:47,750 --> 00:02:51,590
giving them $20 a month rewards and engaging with them. Awesome. So
48
00:02:51,590 --> 00:02:55,189
you're gonna be at the trade show? Absolutely. Absolutely. It's my twenty
49
00:02:55,189 --> 00:02:58,870
seventh HFA. We'll have a booth '17 '70 '4. '20 '9 years
50
00:02:58,870 --> 00:03:02,530
ago. Yes. Yes. Thank you. Alright. Well, happy birthday. Thanks for being on
51
00:03:02,530 --> 00:03:06,191
the fast break. And for all you people out there, get the engagement. Get
52
00:03:06,191 --> 00:03:09,852
the intelligence, and that's how we win. Okay? We're playing a game called business,
53
00:03:09,852 --> 00:03:13,608
and we need our operating playbook. So all you offensive coordinators, hit up promotion
54
00:03:13,608 --> 00:03:17,048
vault, and let's get it going. Win win win. Go halo. Go
55
00:03:17,048 --> 00:03:17,548
halo.
00:00:01,280 --> 00:00:05,040
This is Pete Moore. We are here on Thursday with the birthday boy,
2
00:00:05,040 --> 00:00:08,480
Brian Mitchell, promotion vault. We are doing a fast break for his
3
00:00:08,480 --> 00:00:12,240
birthday. Let's talk about the promotion vault operating playbook.
4
00:00:12,240 --> 00:00:15,775
What are we using to win? Yeah. Thanks a lot, Pete. Really excited to be
5
00:00:15,775 --> 00:00:19,474
here with you. And, you know, promotion vault is an engagement
6
00:00:19,535 --> 00:00:23,294
intelligence platform. Rewards have changed. It's not just about loyalty. We
7
00:00:23,294 --> 00:00:27,055
need to do rewards where we get intelligence so we could drive the life
8
00:00:27,055 --> 00:00:30,460
cycle and retention of our employees. I'll give you an example. Yeah. We have cost
9
00:00:30,539 --> 00:00:34,380
we we did a survey, seven frustrations in the fitness industry. Give it to you.
10
00:00:34,380 --> 00:00:38,220
We have leads to guests, guests to members, members to do their
11
00:00:38,220 --> 00:00:41,835
fit start, referrals to upgrades to upper tier. So
12
00:00:41,835 --> 00:00:45,675
we our playbook is tell us where your life cycle falls apart.
13
00:00:45,675 --> 00:00:49,355
Is it your guest conversion? Is it maybe maybe even goes back to your your
14
00:00:49,355 --> 00:00:52,795
shopping cart and your online joints? Where does your life cycle fall
15
00:00:52,795 --> 00:00:56,350
apart? And let's build an automation and rewards and a
16
00:00:56,350 --> 00:01:00,050
narrative with the rewards right in that spot to drive that.
17
00:01:00,190 --> 00:01:04,030
So if I'm a health club, PD Most Fitness, I come to you and
18
00:01:04,030 --> 00:01:07,870
say, hey, man. I got 3,000 members. I got a couple hundred people coming
19
00:01:07,870 --> 00:01:11,105
a month. Where do you plug in? I'm gonna say to you, listen. What's your
20
00:01:11,185 --> 00:01:14,945
is where's your biggest problem that we could move 12% and move the revenue
21
00:01:14,945 --> 00:01:18,625
needle first? Is it your lead conversion? Are leads coming Conversion, man. These aren't coming
22
00:01:18,625 --> 00:01:22,350
in. Number 38% of club's lead conversion. So
23
00:01:22,510 --> 00:01:26,189
when your leads let's say, the leads usually come in within three days or falls
24
00:01:26,189 --> 00:01:29,950
off a cliff and nobody comes in. Yep. On the third day, you offer a
25
00:01:29,950 --> 00:01:33,549
reward to get them to come in that week, and you're gonna increase those lead
26
00:01:33,549 --> 00:01:37,335
conversions by 12 to 15% right off the bat. And then if I'm talking
27
00:01:37,335 --> 00:01:40,375
to my employees, I wanna reward them for information. Let's say I'm opening up some
28
00:01:40,375 --> 00:01:43,895
new clubs in Arizona, and I wanna build a team there. You're you're starting to
29
00:01:43,895 --> 00:01:47,255
ask questions, and then you're actually getting them a reward or some kind of
30
00:01:47,255 --> 00:01:51,015
bonus? Absolutely. Again, the rewards is just a narrative that gets
31
00:01:51,015 --> 00:01:54,850
the intelligence. By giving them money and paying them to engage and be
32
00:01:54,850 --> 00:01:58,290
in a platform, they're gonna constantly give you intelligence. So imagine this,
33
00:01:58,290 --> 00:02:01,970
Pete. Your employees get a $5 high five every month and you ask
34
00:02:01,970 --> 00:02:05,090
them, hey. Is there anything that would make you leave your job? Are you interested
35
00:02:05,090 --> 00:02:08,685
in any other jobs here at the club? Have you had any life changes? And
36
00:02:08,685 --> 00:02:12,145
would you like to change maybe to one of our other locations? And it's unbelievable.
37
00:02:12,364 --> 00:02:16,205
It's showing a 30% increase in the life cycle of an employee. What does this
38
00:02:16,205 --> 00:02:19,005
cost? I mean, thousands of dollars a month to get in on you, so how
39
00:02:19,005 --> 00:02:22,450
does things start? Absolutely not. So the employee side here about you know, we say
40
00:02:22,450 --> 00:02:25,910
$240 to $600 a year per employee
41
00:02:26,050 --> 00:02:29,730
could allocate about 20 different rewards, which is hundreds of
42
00:02:29,730 --> 00:02:33,315
engagements and conversations. How important is it to, you know, keep your
43
00:02:33,315 --> 00:02:36,675
employees now? Like, what's the attrition rate on that? Oh, it's not well, so some
44
00:02:36,675 --> 00:02:40,355
of our bigger customers, you know, we're here in Arizona, have a 80%
45
00:02:40,355 --> 00:02:44,115
attrition. So moving the needle, we show a
46
00:02:44,115 --> 00:02:47,750
30% increase in a couple of the positions at the clubs by just
47
00:02:47,750 --> 00:02:51,590
giving them $20 a month rewards and engaging with them. Awesome. So
48
00:02:51,590 --> 00:02:55,189
you're gonna be at the trade show? Absolutely. Absolutely. It's my twenty
49
00:02:55,189 --> 00:02:58,870
seventh HFA. We'll have a booth '17 '70 '4. '20 '9 years
50
00:02:58,870 --> 00:03:02,530
ago. Yes. Yes. Thank you. Alright. Well, happy birthday. Thanks for being on
51
00:03:02,530 --> 00:03:06,191
the fast break. And for all you people out there, get the engagement. Get
52
00:03:06,191 --> 00:03:09,852
the intelligence, and that's how we win. Okay? We're playing a game called business,
53
00:03:09,852 --> 00:03:13,608
and we need our operating playbook. So all you offensive coordinators, hit up promotion
54
00:03:13,608 --> 00:03:17,048
vault, and let's get it going. Win win win. Go halo. Go
55
00:03:17,048 --> 00:03:17,548
halo.