Do You Know How Much More It Costs To Acquire New Clients vs. Retain Current Clients?

I want all the tips you've got to increase my profits!

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        It costs 7x more to acquire new clients than to retain the ones you have now. 

        That may be a surprising difference, but think of it this way: the costs of serving your current clients are fixed. 

        You're already paying for your facilities, systems, payroll, etc. Your membership fees support that, so the cost of keeping your current clients happy is small and incremental. 

        Little things like knowing your clients' names, regular check-ins, and creating a sense of community go a long way here. 

        Even more surprising…if you increase your client retention by just 5%, you can increase profits by as much as 25-95%. 

        Now before you go thinking that sounds crazy, let's dive into the details of what impacts that big 25-95% range. 


        Step One: Increase Profits 25-35% 

        Love up your current clients so they want to stick around. This supports the membership fees that run your business. 


        Step It Up: Increase Profits 50-60%  

        Step it up by nurturing your clients to create loyalty. Offer complimentary check-ins every 6-12 weeks and you'll open yourself up to sell personal training services to clients who aren't seeing results. 

        Since these clients know, like, and trust you, you have a 60-70% chance of selling because you've engaged them and earned their trust. 

        Compare that to having a small 5-20% chance of selling training services to new clients and you'll see it makes sense to focus on retaining your existing clients. 


        Step It Up More: Increase Profits 85-95% 

        Step it up again by creating word-of-mouth marketing, which costs a fraction of traditional marketing. When your check-ins lead to personal training sales that have measurable results, you feed referrals. 

        Remember, it's also easier to sell new referral members because their friends and family are already there. 

        Tapping into referrals from existing customers is where you'll see your conversion rates soar when you do it properly. 


        How To Begin Focusing On Client Retention 

        • Offer free body comps from Day 1 to get a baseline for each client.
        • Provide free check-ins every 6-12 weeks. If clients aren't making progress, provide a training plan that will move the bar forward.
        • Create a warm, friendly atmosphere in your gym so clients feel at home, unjudged, and completely supported. 
        • Know your members' names and greet them personally. 
        • Offer unique perks that make your gym feel special, like upgraded towel service.

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