The other day, I published a post going over Lifetime Value (LTV)...

Specifically, what is it, why is it important, and what is good?

As I mentioned, LTV is important to maximize revenue.

But, I wanted to further elaborate on this important topic.

From the previous post, we know the way to make our LTV bigger is by improving our service, but how do we do that?

I wanted to share what we are doing right now in our 36 gyms to make our service better to increase our LTV, and as a result, increase revenue.

1. Cleaning.

Members want to use a clean facility. This includes everything - bathrooms, machines, floors, weights, etc. If your team struggles with overlooking tasks such as re-filling toilet paper or letting sweat, dirt, and dust accumulate on equipment, make a checklist of tasks and a schedule to make sure nothing gets forgotten.

2. Ensure all our equipment is working.

Periodically check equipment to make sure it is working and in good repair. Replace ripped or damaged upholstery on machines. Place signs on equipment while it is out of commission to avoid injury to members and further damage to the equipment. Members also appreciate new and diverse equipment, such as a hip thrust machine or Jacob's Ladder. Pay attention to the needs of your members and the types of equipment that they utilize the most.

3. Personalized training.

Training that focuses on helping your clients get the result they desire while changing their habits. On top of personalized training workouts, we have found nutritional coaching and weekly check-in calls to be SUPER helpful!

4. Community.

Create a sense of community for your clients. Your facility should be a second home to them. We make this possible by personalizing all the communication we have with our clients. Additionally, having the right front desk staff and team members help make members feel welcomed and valued.

5. Offer incentives for renewals.

This helps your members want to continue their membership. We have offered discounted memberships, exclusive offers, or other perks. Your members likely receive mail postcards and other advertisements regularly from your competitors. Convince them the grass is not greener on the other side by giving them a competitive offer to stay at your facility.

6. Sell long-term agreements.

I know this might raise some eyebrows, but it has been huge in helping us increase our LTV. The key here is to explain that their goals are best accomplished over a longer duration. You can do this by stretching their goals.

7. Provide more services.

On top of taking your training services to the next level, offer other services. For example, we added Physical Therapy in a few of our locations.

8. Track member engagement and progress.

This will tell you and your team which members are on the verge of canceling. Be proactive to get them re-engaged in your gym before they cancel or go elsewhere!

Doing the things listed above will improve your client's experience, which will in turn increase the LTV of your members.

If you want access to more training like this.

You can do one of two things.

1) Join our exclusive Facebook group of gym owners & myself sharing what is working in 2023 by clicking here.
2) Request access to our Gym Growth Secrets Course. (usually $1,999 but today absolutely free) Get it by clicking here.

Hope this helps you make more per member!

Andy