How To Use Mobile Health To Add Revenue To Your Wellness Business
Before you dig into this article, take one good deep breath and repeat the following out loud … “People will pay for my valuable services, but they will only do so if I ask them to.”
And once more … “It’s okay to charge a little more for my services when I’m always finding ways to deliver more value.”
And a looong slow exhale ... and relax. Now, how do you feel?
I should mention that I use the term “Wellness Business” loosely in this article's title. If you’re reading this and you have a health coaching business, a fitness business, or a medical practice and you're wondering how you can benefit from using mobile health tools with clients, then you’re in the right place.
More specifically, if you have one of those and would like to add a new revenue stream to your business then this article is for you. If you want a deeper dive on how to price your pricing your primary services, here's an amazing article on pricing yourself.
My goal is to lay out in simplest terms, 5 separate models for monetizing the use of a mobile health platform like Nudge Coach.
Must Be This Tall To Ride
I still vividly remember getting turned away from carnival rides as a young lad for being too short. Much like the infamous “Chainsaw” at the county fairs from my youth, this article is not for everyone.
You don’t have to be tall, but you do have to exhibit a willingness to charge your clients actual money for your services [GASP]. If this article were about adding free, or “value-added services” then it would be a pretty easy to write.
[ Here’s that article in its entirety:
“Do more for your clients, but for goodness sakes, don’t ask to be paid for the extra value you provide.”
- Le fin. ]
But that’s not what we’re doing here. My goal is for you to be able to take any one of the 5 methods for monetizing mobile health and understand how you can price it and build it into your overall business model ASAP.
What I haven’t included here is every step for implementing each model. Why not? Because the details of your business model are unique. However, our team CAN help if you are still left with questions at the end of this article, so don’t hesitate to get in touch with us.
So, are you ready to use a mobile health management tool like Nudge Coach to unlock a new revenue stream for your business?
LET'S DO THIS ...
5 Ways To Add Revenue To Your Business Using Mobile Health
I've organized this exploration of monetization into two distinct parts. In Section 1, I will focus on models for businesses that render their services primarily via in-person sessions, or personal visits with their clients.
For this section think of businesses offering more traditional services like personal or group training services in a gym, in-person health coaching sessions, appointments with a physician, chiropractor, PT, etc.
And then in Section 2 I will cover the newer wave of models for those of you who are interested in working remotely with clients, or running fully digital coaching or wellness businesses.
Think of fitness businesses with video-based training memberships, digital health coaching businesses, telemedicine, etc.
Section 1: Revenue models for those who provide in-person services
Model #1: Low Barrier To Entry
Example Marketing Message:
“If you aren’t ready to commit to our full membership but would like to see what we’re all about, sign up for our Mobile-Only Wellness Membership!”
Who It's For:
High-touch personal health coaches, high-end fitness businesses, or any cash-based medical practice.
Suggested Price Point:
Starting at $50-$80/month
Sample Offering:
1 hour deep dive consultation session
Shared 2-month initial action plan
1 monthly personal web-conference consultation
1 weekly feedback message via the Nudge App
Model #2: Concierge Coaching Upsell
Example Marketing Message:
“Thank you again for being such a valued client. If you’re really looking to make a commitment to reach your loftiest goals this summer, I’m also offering my Personal Concierge Coaching Program that includes daily monitoring of your lifestyle via wearable of your choice PLUS bi-weekly personal feedback from me and much more!”
Who It's For:
High-touch personal health coaches, high-end fitness businesses, cash-based practices with health coaches on staff.
Suggested Price Point:
$200-$350/month
Sample Offering:
1 hour in-person initial deep dive consultation session
Shared 3-month initial action plan
2 monthly personal web-conference (or in-person) consultations
Access to downloadable meal plans including prep, shop, & serve
Monthly accountability challenges shared via your mobile Nudge App
Access to the private Facebook group
Access to wellness video library
Unlimited SMS messages to your coach through your mobile Nudge App
Model #3: Personal Maintenance Plan
Example Marketing Message:
“I am so thrilled we were able to reach your goals together this summer, amazing job! It’s been an absolute pleasure working with you, and I wanted to let you know that if you have any concerns at all about the dangers of gaining the weight back, I’d love to connect with you about signing up for my low-cost Maintenance Plan. It’s just a couple of mobile touchpoints each month to keep you on track and make sure those extra pounds stay right where we left them.”
Who It's For:
Personal health coaches, fitness businesses, wellness businesses of all kinds.
Suggested Price Point:
$40-60/month
Sample Offering:
Ongoing lifestyle monitoring via Nudge App
Twice-monthly feedback messages based on your progress
Monthly emailed wellness content on key topics
Monthly 15-minute check-in phone call or video conference
Section 2: Revenue models for those providing fully digital services
Model #4: Short-Term Wellness Cohort
Example Marketing Message:
“There are only a few more slots left for my 3-Months To Fitness Deep Dive Group, that includes daily monitoring of your lifestyle via wearable of your choice PLUS bi-weekly personal feedback from me to keep you 100% accountable!”
Who It's For:
Digital health coaches, upsell for online fitness personalities and trainers.
Suggested Price Point:
$150-$275/month
Sample Offering:
1 monthly personal deep dive video conference session
6 Group training sessions (interactive, share the stage, live Q&A)
8 Weeks of downloadable meal plans including prep, shop, & serve
8 Weekly accountability challenges
3 Webinars on key topics
Lifetime Access to the private Facebook group
Video library access: 120+ bodyweight exercises video library
Unlimited SMS messages to your coach through your mobile Nudge App
Model #5: Mobile Maintenance Membership
Example Marketing Message:
“Money tight, but still looking for help maintaining your fitness level? We hear you! Sign up for our Mobile Maintenance Membership today for a relationship for the support and accountability you’ll need to stay on track.”
Who It's For:
Digital health coaches, online fitness businesses, practices with wellness professionals, or anyone looking to add a digital-only offering.
Suggested Price Point:
$30-$50/month
Sample Offering:
Ongoing lifestyle monitoring via Nudge App
Bi-monthly feedback messages based on your progress
Monthly emailed wellness content
Support from a dedicated group of fellow members going through the same program
Each of the five models I’ve outlined above give you the opportunity to add a new and significant recurring revenue channel to your business with surprisingly little upfront work or implementation costs, and perhaps even more surprisingly little work for ongoing management.
If you are able to stay disciplined and deliver at least as much value as you promise, then your clients will love you forever, and their results will speak for themselves.
If you have questions or thoughts about other ways you can monetize mobile health in your business, please start a conversation in the comments section below!