Toolkit Tour - Improving LEGSummaryImportance of Client Retention in Gyms 0:01Keeping clients in a gym for an additional three months can earn the owner an extra $40,000 annually.Retention is crucial because it multiplies the value of other gym activities, such as marketing and client engagement.But we need to understand what actually improves retention, as many current ideas lack data to support them.The toolkit's LEG section focuses on the five pillars of retention, which are essential for improving client retention.Understanding Retention and Its Measurement 0:34We measure retention as the length of engagement, aiming for clients to stay for at least two years to see significant life changes.While many people are now talking about retention, the concept was less discussed 15 years ago, and current ideas often lack data.The toolkit differentiates between essential retention strategies (the five pillars) and nice-to-have perks like t-shirts and clubs.Gym owners should focus on the five pillars first before adding extra perks to improve retention.The Five Pillars of Retention 1:31Start with the five pillars of retention, which are crucial for improving client retention in gyms.Gym owners should ensure these pillars are in place and consistently implemented to see significant improvements in retention.Retention is just sales over time, requiring ongoing marketing and engagement with current clients to keep them.The five pillars will take gym owners 99% of the way to achieving great retention, while additional perks can be added later.Addressing Client Drop-Offs 2:47I can't overstate the importance of identifying when clients are dropping off to address the underlying issues.Software companies often focus on churn rate, which doesn't provide specific insights into when clients are leaving.Gym owners should track when clients are leaving to solve the actual problems rather than adding unnecessary measures.Strategies for Different Retention Stages 3:16The toolkit breaks down strategies for addressing clients who leave within the first 90 days, between 90 days and the end of the first year, and after the first year.For clients leaving within the first 90 days, we recommend building an on-ramp and mapping out their first 90 days to create daily touchpoints.For clients leaving between 90 days and the end of the first year, we recommend setting up goal reviews, events like golden habits challenges, and building a belt system.For clients staying longer than a year, we advise doubling down on goal reviews and using the Pumpkin Plan exercise to focus on keeping these clients.Recapturing Former Clients 4:24Recapturing former clients is essential to repeat, because they are the next most likely group to return to the gym.Former clients often leave due to falling off their exercise habit or...

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