Jesus is uncomfortably clear to the church in Ephesus: Having head knowledge is important, but that knowledge is worthless if it's not leading to a life of zealous love towards those who don't know Jesus. 
If they do not repent, he will no longer call them his church. If they repent, they will be conquerors in this life and experience eternity with their victorious King in the next life. Jesus climbed the tree of death that we would inherit the tree of life.