5 Ways to Reduce the Churn
Unveiling the Emotional Cycle of Change and understanding your clients' emotional journey is the key to reducing churn.
Welcome to this week’s episode of the Treat Your Business podcast with your expert business coach Katie Bell. Today, Katie is going to discuss a topic that many business owners struggle with – competition.
Specifically, she’ll be exploring how you can eliminate competition for your clinic or studio.
Do you ever find yourself in a situation where a potential client asks you why they should work with you instead of a competitor?
This can be a tough question to answer, but Katie has some actionable tips and strategies that will help you stand out from the crowd. Whether you offer Pilates classes or Physiotherapy services, you won’t want to miss this episode!
Key discussion points and takeaways in this weeks episode include:
This podcast is sponsored by the team at HMDG
You’re listening to treat your business with Katie Bell, the podcast for health and wellness business owners that want a need to give their business the treatment plan, it needs a treatment plan that will create more time back in your life, more income and more confidence when it comes to running your business. I’m here to share with you bite sized episodes full of tried and tested tips from my own real experience of growing a successful physiotherapy and wellness clinic. And from working with many businesses to do the same. The treat your business podcast is sponsored by hm DG. Marketing is always one of the top three issues for clinic owners that I speak to.It’s too expensive and complicated. They’ve had issues in the past, or they just don’t know where to find a trusted expert. It’s always said only recommend products or services,you’re confident in using yourself. Well, when it comes to marketing, we use HMD G for our own clinic. They’ve proven to be exactly what you’d want from an agency. As a specialist, they understand the industry. They’re responsive and always deliver.We can’t recommend them highly enough. Head to HMD g.co.uk To find out more. Hello, everyone.Welcome to this week’s episode of the treat your business podcast, we are going to be talking about how can you how can you deal with competition in your business? How can we eliminate competition in your,for your clinic or your studio?And what I mean by this is when clients say why should I work with you? Over a year? Why should I work? Why should I come to your Pilates classes ever?Those Pilates classes in the church will down the road? Why should I come and see you as a physio over all of the other options that are in your town or your village. Now I want you to think about competition in two ways. I love nothing more than physio clinics opening and Pilates studio. Pilates studios opening because I think that the more people the more visible our industry is, the more we have out there, the more people will see and know that we have the solution that can help their problem. So competition, or more people doing what we do is a brilliant thing. However, as the business owner who is trying to drive more clients through your door who’s trying to increase your revenue, we want to separate ourselves from the pack don’t We don’t want to try and just be the same as everybody else. We don’t want to just be another physio, another Pilates instructor. And I always think when I used to go to networking events back eight years ago,until I realised that they were just the worst idea ever. Now,I’m not saying that they’re all bad, okay, if you’re the sort of person that loves to loves to go make small talk in a room with other business owners, knock yourself out for me, just so far from what I want to spend my time doing, okay? For many reasons, because a lot of it was I was going to these networking events and my ideal clients, my avatars, your niche, whatever you want to call it was actually in the room. Okay, so it was a complete waste of time. However,when we when we want to stand out on when we want to introduce ourselves, let’s imagine me going to a networking event.Honestly dying inside and somebody says okay, you’ve got you know, you do this speed networking just makes you want to cringe and you’re going to introduce yourself to to the other person and you’ve got 30seconds to do that. Okay, this is what would also be known as your elevator pitch. And one of the things that I think is so boring is when people say to me,hi, my, I’m just gonna give you an example of this being me.Okay, so, Hi, my name is Katie,and I’m a physio and I run a physio wellness clinic in Sheffield. I’m obviously just slightly exaggerating my tone of voice to make it sound really boring. But how like, it doesn’t. It doesn’t make me go,oh, that’s exciting, doesn’t make me want to know more. Now,let’s flip this if I stood there and said, Hi, my name is Katie.I work with clinic and studio owners who are overwhelmed,exhausted and running a business with no plan whatsoever. Using the flywheel method, I help them get more clients make more money and feel confident calm and capable business owners. Now you’re interested. Now you are wanting to have a conversation because you want to resonate with if you you’re listening to this guy you will listen to the the other end of this podcast.If you are overwhelmed,exhausted of running a business undercover studio with no plan,you’re instantly interested in what I’ve got to say. I have a method, we call it the flower method. Nobody else has that. So now it separates me from the pack. Your elevator pitch is exactly as it says you get in the elevator, you go from one floor to the next floor, and you’ve got that amount of time to be able to say, My name is I work with ideal client avatar,who some pain points, things that they’re struggling with things that they resonate with,using this method, or using this process, or using this system,or if you don’t have one of those, it’s okay, you can say I help them. And then you want to talk about the solution. Now,your solution is a I helped them by doing manual therapy techniques, Kinesiology taping and acupuncture will boring,nobody cares. They don’t actually care about the how,okay, most people don’t really give a about the flowery method,okay? But the flywheel method is a process that I take all our clients through that gets them from A to B, state A to state B.So don’t, whenever we are, we are putting ourselves out there and making ourselves visible. If we are only ever talking about the house, the things that we do to get them to where they want to be. They disconnect, they’ll turn off. If your website only talks about the services that you offer, you are missing out on all of those people that don’t know your service is the solution that they need to the problem that they have got. So using your your elevator pitch,your kind of expert statement,in your bios on your website,the weight when you go to networking events, the way you lead conversations, the way you own, what it is that you do, can really start to separate you from the pack. Now, there are lots of other ways obviously that we can become this what I like to call this untouchable experts. Okay. And I’m going to take you through a couple of those on today’s podcast but the the the key thing is about being super clear on who you work with, now as physiotherapist as osteopaths, as plusses and structures, you might say to me,well, Katie, I work with loads of different people. Okay,because we’ve got people with back pain, we’ve got people with neck pain, we’ve got people with shoulder pain. Now the common denominator there is somebody who was in pain. If I am talking to somebody in my marketing, I can’t be talking to everybody.You can’t run campaigns, or back pain, neck pain, shoulder pain,knee pain, foot pain, ankle pain all at once. Because everybody’s, where they’re at is always different. Somebody who’s got back pain, who’s had it for five years, they’re gonna say different things, aren’t they about their problems that they’re facing, than somebody who has just got a flare up of their tennis elbow, okay,there’ll be similar things that they talk about, but the way that pain and problem shows up in their life will be really different. And we have to meet people where they’re at, we have to talk to the conversation in the clients head for marketing to be impactful. So we’ve got to be super, super clear. Who it is you want to work with? Are you trying to be the jack of all trades, and actually the master of none? We need to be super clear about the biggest challenge our clients are facing. What’s the thing that they worry about? What’s the thing that they are stressed about and anxious about and thinking about? And it’s waking them up at night? What’s that hot button that big? Frustration point. And I always like to think about this as when I’m,I’m really thinking about you guys. Okay, let’s let’s draw this into me to give you an example. When I’m thinking about who I work with, I understand your pains and problems and frustrations. In a way that means I connect directly to those pains, emotions and frustrations I can meet you where you’re at. Now a part of that is because I I have been there I and in a lot of ways I’m still there. So I can connect on that level. But I also listen, I also listen and and hear what you guys are saying, which allows me to then meet you where you’re at in terms of my marketing, I can connect with you I can get on that same level of you. I know what your biggest challenges are. I know what you’re worried about. I know what your hot buttons are. I know what’s keeping you up at night. And I also Know what your dreams are, what your goals are.So when we create value in the marketplace, knowing that person means that you can reverse engineer to your method, your process your system, the way you do things. Now, you’re all going to be listened to this thing.You don’t have a process. I don’t remember. Yes, you do. You absolutely do. You take people through a process when somebody comes in to see you in an initial assessment, and then in the treatment plan, and then in the follow up, or whatever it is that you do, the way that you lead them through a series of Pilates classes, that is a method that is a system, it is only like nobody else could do that. Because you will have, it could be small ways. It could be big ways that defer to other people. The way that my system,my flywheel method is a four step process that we take you through. And it’s different.Nobody else has this method because nobody else is me. But we combine the mindset and the strategy throughout all of those footsteps. Nobody else does that. We teach things in a certain way. Because I know that’s what you need to get you to your dreams and your goals. I want to teach you the strategy.I want to teach you the finance I want to teach you the the forecasting, I want to teach you the programmes and package development, I want to talk to you about your mindset and up levelling it and recruitment and leveraging systems in your business. But we can’t do that until we work out the why. So we I have a process, I have a method, I call it the Funnel Method. So I can reverse engineer my method to practically guarantee that you will get those results that you are looking for. I can figure out what steps must I take you through to get you to that goal,or that outcome that you want for your clients to be paying free to play with their grandkids in the garden without having to constantly say no,because they can’t do it because of the knees. I can then decide what delivery model my clients need to experience to practically guarantee that they will get them know those results for you guys, do you need to see them face to face? Do you need to do a one to many programme?Do you need to add some accountability calls in there?Do you need to see them weekly?Do you need to see the monthly do you need to give them assets when they’re not seeing and face to face basis. And then I can also decide what culture my company needs to harness to allow you to thrive. Seize the pub, just realise why I did that. So for you to thrive, I have to create a culture of community, I have to create a culture of accountability. I have to create a culture of bold, wise, transformational coaching, like no bullshit, we are straight to the point. I have to create a culture where you genuinely feel you are as important as anybody else. And if any of you are listening to this, who are clients, I really hope you know, and you experience how much we do care how much we treat you as individuals. So we create a community. I know what delivery model, you need to get the results that you that you want.And I know what steps I was taken through to get you that.Now, when you have a process when you have a method, it’s no longer about you guys. It’s no longer about me anymore. It’s about my process. So it doesn’t depend on me the process provides the results, not the person. So my name is Katie, I work with clinic and studio owners who are overwhelmed,exhausted and running their business with no plan whatsoever. Using the firewall method. We help them get more clients make more money and feel confident, calm and capable business owners. Am I super clear about who I work with? Am I super clear about the process that I take them through? And am I super clear about what the outcome is that you all want?Yes. So when we have this, this kind of Elevator Pitch nailed up, and that’s how we lead our business and that’s what we we we put out there in the in the world in our visibility strategy. We create a market of one we become the supply to the demand. It creates predictable income stream it creates better results for clients it creates improved reputation now We had a day in Sheffield last year with our, our, our some of our clients and some people that weren’t on our programme they chose to come and join us for the day. And it was amazing. And I did a lucky sketch. I’m known for my sketches on these days.And Paul Phillips Nicola get roped in and they don’t really have much choice. However, we did this sketch, and I’m going to talk you through it as best I possibly can. Because I know you can’t see my face and all my crazy hand gestures that I do when I’m talking. But I want you to just play along for the sake of this demonstration. Okay, I want you to all imagine that we have been, we have been in an office space in an office block,okay, in the middle of in the middle of a city, it’s hot.It’s, you know, Stagner natural light, it’s not grey. You know,it’s really, it’s a really boring place to work. Okay,we’ve been there for 342 days because we have been roped in for a really, really big project and we cannot leave until it’s done. Okay, we have rotated shift times we have sheduled break times and sheduled rest times. But that’s it. We’re locked in. Right? We’re working on this big project. Now, there is an onsite cafe at this establishment that provides us our meals, but the cafe only serves coffee or broccoli. Okay,I know I’m losing that I’m completely lost. I’m your holiday. I’m going on holiday next week, guys. I will come back with much more interesting scenarios for you. But they only serve coffee and broccoli. So morale is really low in our in our building. We’re all there.Okay, we’re locked in. We’ve been that food for two days. Oh,we’ve eaten is broccoli. Oh,dragons cafe. Okay, we’re absolutely off our anyway.Everybody is craving sugar.Okay, I have a massive sweet tooth. I will be going insane through last few days without it. So you’re all dreaming.You’re all discussing about eating a Krispy Kreme donut.Okay, that’s all we’re talking about. Now, filter a nickel.We’re getting roped into this.They are our coaches on the programme for those of you don’t know. Gorgeous, gorgeous ladies.There is a huge demand for Krispy Kreme doughnuts in our office space. Yes. But there is no supply of Krispy Kreme Doughnuts. Now, Nicola walks past this office every day on her way to work. And there’s people hanging out the windows.Please help What is Christmas crispy donuts and so hungry.Now, Nicola thinks that’s interesting. There is no supply.There’s a really high demand. So what if I set up a shop in there and I just sold Krispy Kreme Doughnuts. She knows she can basically sell those for whatever she wants. Because those people in there need it so much. They’re going to pay whatever she knows she’s going to make a good high profit margin. So she sets up shop people start backwards between doughnuts laughs Good. Okay,Nicola is making a bomb in the people in the in the office block. We’re happier. Okay. Now Philip Rosa was passed this off his bike every day and she notices what’s going on as well.And she thinks well that’s interesting because she just set up a store and she’s doing really well so maybe I could do the same. But here’s the thing Philip a decides to set up shop and undercut Nicola says she thinks well I’ll try and sell more at a lower margin to make the same money that Nicolas gonna make Nicola doesn’t have to sell as much. This increases the supply of the Krispy Kreme donuts, doesn’t it? Okay, but it diminishes Nicolas profit potential. But Philipa has to buy more and sell more to make the same as Nicola. If too many people sell Krispy Kreme Doughnuts and undercut each other businesses will close.This is the supply and demand curve. This is represents all the forces that are at play in a marketplace. So here’s the thing, if you’re trying to be the same as everybody else in your industry, and you’re trying to undercut let’s see how that works out for you. If you think by being the cheapest that is going to get you the most revenue and the most clients, I would ask you to question whether that’s going to work on so if you’re somebody that knows, oh, I can’t charge any more because you know, people aren’t going to pay it.You are working against the forces of the supply supply and demand curve. Let’s think about like water for example of your fuel is a really relevant one,isn’t it? Okay when we’re considering the price, because we couldn’t really get fuel because of the Ukrainian war and Brexit and the governor’s whatever else going on in the world, the demand for fuel was really high, we couldn’t get it,we have no supply of it. So what happened to the price? It went huge. And then we’ve started to see drop down because we have got more supply of it coming through. So for you to stand out and be the be the supply to the demand, you’ve got to be different, you’ve got to separate yourself from the pack.The supply and demand curve is how price is derived and price is created. So how is it that we can ask physios Pilates instructors, osteopath to create something that we don’t have to force down people’s throats that people actually want to buy from us? And how can we constantly stay ahead of the curve as a business owner so that we don’t have any competition? Now there’s a few ways we can create demand, we can be like Grant Cardone, or somebody that pumps out free content constantly,okay, and builds a huge audience and makes people stand in line to get to him. Now, most of you listen to this trippin hate social media. So I can guarantee that’s not a great option for us. The other way we can create demand display the only one who offers your service in a way that you do. It doesn’t mean though, that you have to reinvent the wheel. So for those of you who are listening, go Yeah, but I’m no different. I don’t do anything different.What I’m doing is exactly the same as everybody else. It’s not because there’s only one of you,you are you. There’s a great Dr.Seuss quote, that’s just gone from a hat, it’s gonna come back to me, but you are you nobody,nobody is your than you. I am not a full transparency. I am not like teaching you something that is never been taught before. But the way my method is put together has never been taught before. Because nobody is me. So when we have a a method,or process or package, a programme, a way of working with our clients, we have predictable cash flow, and income, we have reduced marketing spend, because we can work with less people but charge more money, we have predictable results, we don’t have people that are going to come on, come in and not get what they need from you. Because you’re able to control the variables or we have better conditions for delivery, I cannot do what I do in a one off scenario, which is why we don’t do one off coaching. Not because I don’t believe in it, or some other people might not be able to do our care. But for me to get you the results that you’re looking for, which is to get more clients to make more money and to feel calm, confident,capable business owners, I have to put you through a process, I stand for the fact that you need to work with me consistently over a period of time, and it’s a minimum of six months to get you where you want to be, I will not put my name against anything that is less than that. Because I can’t guarantee results. I can’t have great conditions for delivery. I have a butter,stronger reputation, therefore I’ve got more committed clients.I have much more fulfilment, I have better job satisfaction,I’ve got better boundaries, and more client focused. Whereas the Pay As You Go model quick, easy when in terms of cash flow, but no sales chart there, which you all don’t like to to do anyway.But you’ve got low commitment level for clients, you’ve got reduced investment, they’ve got no skin in the game. You’ve got poor boundaries, you’ve got poor conditions for delivery. So what is it that you stand for? In my physio clinical wellness clinic,we don’t allow people to work with us for anything less than12 weeks of Pilates sessions.Because we stand for the fact that you need to do it for that long to get the results that you might be looking for or to start you on that path. So the way our business model is set up is that you join a yearly programme with us. Because if you want to get from A to B, that’s what we need to do. So we can create offers in a creative way where the demand is higher than the supply because you are the supply.Therefore, what happens to your price, it can go up, you don’t have to compete against everybody else. And when your offer can be unique in the marketplace, even in the most crowded marketplaces, you are in the driver’s seat now. You are in the driver’s seat of any potential opportunities for problem solving for new clients for increased revenue and that is business businesses. I have something that I want and I willing to exchange something that you want for the thing that I want, that’s all your exchange. Basically, money exchange money and value exchange, I’ve got something that you guys want, and you’re willing to exchange money for that thing. So I want the money,because it allows me to make a bigger impact, and you want the solution. So value exchanges,either money or, and all the services we provide. So if you haven’t really spent your time thinking about your business in that way, it’s probably because you tried to get people to buy things that they don’t really want or need. Or you’re just probably running a really unnecessarily complicated business model. What you are offering is exchange of value.And then we’ll just say this,that just because someone else is selling a solution to a problem Big or small, for much less, doesn’t mean that you can’t sell a better solution to that same problem for much more.I do not look at what other people charge because it is irrelevant. Nobody has the same cost as me, nobody has the same overheads as me, nobody has the same stuff in models I do.Nobody has the same expenses,nobody does the things we do with our clients in the same way. So I cannot compare.Because what I do cannot be compared to any other business coach in my market. If people can have the same results for less complexity, they will pay much more for that path. So don’t think that for you to compete, you need to have the most complex way of working with people. No, they want simple,quick, effective results, and people will pay more for that.So I hope that has given you a little insight in how you can deal with the competition mindset in your business competition. The more people that are out there doing it, the better more people are gonna know about us, the more visible we are we are as an industry.But you need to separate yourself from the pack, you need to become the market, you need to become the supply to the demand, you need to create a market of one get super clear on who you want to work with their problems, their challenges,their worries, where they want to be there, their goals, their dreams, reverse engineer, so you can practically guarantee that they’ll get those solutions by taking them through the steps by delivering it in this model. And by giving them the culture that they want so that they can thrive within it. And then it becomes about your process and not about you. And then you can leverage that and then you can go on to create systems and team and bigger scales and growth in your business. I hope you’ve enjoyed this episode. I look forward to seeing you next week.And I would really like it if you could spare a second to just write a look and review. I do read them. I take time to read them because it really helps to inspire me to create the best content for you. We can week.Thank you for joining me. I hope you are all super well have a fabulous rest of your day. And I will catch up with you all again next week. Thank you for listening to treat your business with Katie Bell, the podcast that tells you what you really need to hear and know when it comes to running a successful business in the health and wellness industry that gives you the time, money and freedom you are wanting for access to our free workshops on how to get more clients in your business.How to make more income in the next 30 days. And to get more time back in your business and life. Head to our free Facebook group today. Treat your business or head over to thrive dash business coaching.com All of the links are available in the show notes.
"*" indicates required fields
Unveiling the Emotional Cycle of Change and understanding your clients' emotional journey is the key to reducing churn.
We dive into the critical topic of why waiting for the retention point to kick in later can lead to dropouts and decreased follow-up rates.
This week we are helping you to understand why protecting your QBR ensures standardised processes, sets company standards, and focuses on exceptional service. This approach enhances client lifetime value, reputation, and revenue.
Book a call with our team of experts and let us audit your business and share your next steps.Schedule an audit