Not able to retain patients/clients? This is why.

It's because you're not setting big enough goals...

That's something you've DEFINITELY heard before, so I don't believe there's anything new for me to add here. 

Instead, I'm going to explain to you one of the key reasons why a lot clinicians, coaches and personal trainers struggle to retain their clients. 

It's got nothing to do with their 'business' acumen. It's rather to do with the person themselves.

They stop learning. 

You might be wondering... how does 'my learning' help me retain clients?

It's a great question - and I'm going to break it down into three distinct factors.

They are:

1. Understanding information arbitrage - and how this applies to retention.
2. How curiosity leads to innovation, and innovation leads to retention
3. Constant learning (especially about eclectic topics) makes you n=1

If you want to see how this plays out via video - you can watch the video below. Otherwise, read on!

Information Arbitrage

By definition - information arbitrage is 'exploiting gaps in information to turn a profit.' It sounds unethical, especially when someone is 'exploiting' an information gap. But it's just a poor use of language. My layman brain makes it pretty simple. You make a profit by sharing information and/or experiences that the person in front of you does not have.

As health professionals, we are valued based off this simple principle. We know information that our clients don't. But not only we do know it, we can also apply it in a way our client's can't. As you work with a patient, you will stay valuable to the patient so long as you are always 'ahead' of them in knowledge and experience. 

That is - they still have things they are constantly learning off you. Now if you're doing your job correctly, there will come a day where the information that they initially wanted to learn off you... is mostly acquired. 

For example, if you're a physiotherapist and your patient is working with you through an ankle sprain... and you've progressed them completely through to heavy plyometrics and change of direction, you've probably taken them to the end of their rehab and they'll be fine for RTS. 

The problem is if you never had the knowledge regarding what plyometrics they could be doing to return to performance. If your rehab stopped at single leg hopping because you didn't have the technical knowledge - then you've lost a client because you weren't able to provide more knowledge that is valuable to them. 

Now let's say you've learnt a new protocol that screens chronic ankle sprainers with high sensitivity every month, and you have the S&C protocol to back it - you could potentially retain a soccer player for the entirety of their season, granted the protocol is clinically valid with evidence backing it. This is an example of information arbitrage. You know something they don't, and they'll value you for it. 

So the only way you can sustain your information arbitrage is if you're CONTINUALLY learning more of your craft. This could mean through practise (like just working), putting yourself through further courses, or even choosing to pursue specialised work with more experienced coaches/clinicians. 

Information arbitrage only works if you're willing to continually learn. As your patients/clients learn more from various digital sources, it's more important than ever now not only to learn, but also to apply.

 Curiosity and Innovation

 Most entrepreneurial circles have a simple phrase 'innovate or die'. And it's not because they want to be dramatic. Innovation doesn't happen because people just sit around and 'think' of something new (although that's true in some cases). Innovation occurs because the people who once wanted your services, are looking for something more/different.

Even in the last decade, the physiotherapy industry has innovated in the sense that we now have different delivery models and treatment paradigms.

For example, a decade ago - telehealth really wasn't a thing. It boomed during COVID, and since then it has stayed. This is an innovative delivery method. 

More innovation that has occurred comes through updates in the literature, where clinicians are now pairing the latest research with treatment to create new treatment plans. 

As patients experience different levels of care, their shifting tastes and/or preferences will drive innovation of businesses. Businesses are forced to create new products or services to continually serve a a dynamic market. 

The problem with people who do not put in extra time to learn is it's incredibly difficult to innovate if you do not add something different to what you have. For example, when the Mac came out, it was the ONLY personal computer of that era to have typography. Users were stunned by the beautiful 'fonts' that Macs had, choosing to purchase them for their font styles over other personal computers. 

This was only possible because Steve Jobs pursued typography during his college years. Now, I'm not saying you should go learn something completely outside your field (although you might) - what I'm saying is you need to be constantly learning something because you never know how it might lead you down a path of innovation one day.

For example, in my own career - as far as I am aware, I was one of the first to innovate on my Olympic Weightlifting offering to include competition webinars, pelvic floor tutorials for my female lifters, rehabilitation advice, as well as weekly individualised programming instead of 4-week blocks. This really set me apart as a coach, but also as an offer. It served me well whilst I pushed my weightlifting coaching business. 

Without a natural curiosity for business and how to create better offers, I never would've innovated my offer to include aspects outside of just traditional 'lifting.' 

As someone reading this, I implore you to never let go of your curiosity and you never know how it might one day become the main source of your innovation. 

Constantly Learning (esp. eclectic topics) makes you n=1

 If you want to retain your clients well, you need to offer information that is so unique that they can't get it anywhere else. And in this information age, it's not about 'reading' more. It's about 'mixing'. 

For example, if you're a weight loss coach - you won't get very far just telling people that dieting is about 'calories in vs calories out.' Although it's true, it's also not that useful anymore because everyone knows about it. And since everyone knows about it - there's no information arbitrage. 

So the question is - if information is so abundant, how could you still have any information arbitrage? When information is abundant, it's no longer about what we know. It's about how we make use of what we know. That is, the application of knowledge. 

Using the information above - what does calories in vs calories out look like practically? What does that look like psychologically? How does that work for an East Asian, who has a completely different diet to an Eastern European? The principle works the same way, but East Asians have a strong emphasis on rice, lean meats and vegetables. Eastern Europeans have more emphasis on potato, wheat and meats. 

Now what?

See - information arbitrage will always exist so long as you are willing to investigate. It just boils down to your curiosity. 

But what do I mean by 'eclectic?' 

Well, this is where your natural curiosity can turn you into n=1, or rather, the only person in the world who knows what you know. By exploring things that might be so far removed from your craft, you might learn things that other clinicians simply never will.

And once you integrate these eclectic findings into your craft - you'll create a truly unique experience that no one else can. 

For example, how could interior design somehow influence your practise as a health professional? Well, interior designers are all about creating an environment that helps someone 'feel' something. How does a low ceiling feel versus a high ceiling?

A low ceiling gives a feeling of crampedness, and it might provoke feelings of discomfort or anxiety in some patients.

A high ceiling gives a feeling of openness and space, which would give a feeling of spaciousness and relaxation. 

When a patient walks through those doors with back pain (or is in the waiting area), what would you like them to feel?

That, is why eclectic interests make you n=1. 

And it could be anything - there are now physiotherapists who work solely with professional gamers. I'm sure there are injuries like neck, shoulder, wrist and finger issues.

There are also other practitioners who have integrated 'pseudo-scientific' medicines like TCM, hypnosis and/or NLP into their practise to enhance patient care. I can guarantee that these practitioners will be some of the only ones around doing what they do. 

So in essence, if you're not retaining your patients - remember these three core reasons.

1. Information arbitrage is what patients see you for
2. Curiosity is necessary for innovation
3. Learning (especially weird stuff), makes you truly unique

Wishing you success,
Phil