3 WAYS TO GROW YOUR BUSINESS QUICKLY!

Grow your business through proven strategies to increase your traffic, convert the curious into patients and retain your patients for years to come (all the while, providing additional necessary procedures).

 

Business success doesn’t occur by accident! Henry Ford, Bill Gates, Michael Dell didn’t succeed on a whim. They consciously and intentionally pursued, explored, and diligently worked hard to attain the brass ring. Therefore, so must you!

You took the time and effort to hire a real estate person, find an office space, and secure your loan.  Then, you had that office space built out to your specifications.  After that, you hired contractors to fill your new clinic with phone lines, computer equipment, and medical equipment. One can only presume that your intention was to be as successful as possible.

You were diligent in your efforts to create a suitable location for your medical practice. You secured a beachhead for your enterprise.  Now comes the moment of truth; the time when you must attack your prosperity intentionally!

In this spirit, your task is to raise your hand and to tell the world that you are open and ready for business!  Additionally, your effort needs to cultivate your reputation, to stand out in your area, to become a local expert. In so doing, you can begin to develop your foothold on being considered the “go-to” doctor in town.

We know that this active pursuit of excellence is supposed to happen.  It’s a shame though that far too many doctors don’t approach their business in this manner. There seems to be an attitude that simply by hanging their shingle over their door, patients will come!

Maybe it has to do with the amount of time that passes between a college business course and the actual practice of medicine. Perhaps, it’s in this period from beginning one’s practice to thinking about attracting more patients that the disconnect occurs.  The fact is that from the moment you opened your clinic, the competition was on!

Every business school in the country teaches that business success is a daily struggle for survival. Every day someone is going out of business. Likewise, every day someone is trying to build their business; however, in a crowded marketplace every time a clinic gains a new patient, someone else loses one!

Though you can make the argument that the world is your “patient” oyster, depending on geographic limitations, population density, availability, and opportunity, your pool is not nearly as large as you may believe.

The fact it is that every day your competitors are actively marketing to your patients. If they’ve done a good job of incentivizing, they are doing everything they can to compel your patient to become their patient!

This book has a single purpose: to show you how you can keep your patients (both current and past) from jumping ship and increasing your profits. As we go along, you will also learn to attract more patients and increase your clinic’s traffic and earnings.

Additionally, we plan to show how you can maximize your budget to reap the maximum benefit from your marketing efforts.

Did you know that it costs five times as much to attract a new patient than it does to keep an existing one?

The reason that it costs so much more to attract a new patient is because patient acquisition has a very measurable cost. Let’s face it, and every business needs a steady supply of new patients, but it comes at a high price.

Some of the standard patient acquisition costs center around things like outbound, or traditional, marketing (including advertisements, direct mail, cold calling, and so on). Add to that the costs of event marketing, sales, and business development salaries, set up the maintenance of compelling websites, blogs, social media, etc., these things add up quickly and immediately attach themselves to your bottom line!

That’s why patient retention can dramatically and positively impact profits. According to a fascinating article in Marketeer.kapost.com, titled Customer Acquisition Versus Customer Retention, studies performed by Bain and Company, along with Earl Sasser of the Harvard business school, have measured that even a 5% increase in patient retention can lead to an increase in profits somewhere between 25 and 95 percent.

They go on to point out that: Current patients are more willing to try new services. Existing patients are 50% more likely to try new services and spent 31% more, on average, when compared to new patients, which translates to cross sales and up-sales.

Secondly, you already have the trust of your current patients, so they will be willing to truly listen to what you have to offer (without the standard resistance that comes with a perceived sales “pitch” from an unknown source).  The probability of providing additional services to an existing patient is 60 to 70%, while the likelihood of providing those services to new patients is just by to 20%.

The third benefit has to do with advocacy and trust.  Your current patients are your best advocates which impacts prospective new patients that want to know by what means to be your patients, giving perspective patients a glimpse of the patient experience your brand provides.

A clear model of the benefits of a defined client retention strategy is played out every day with the Disney Company.  Think about it, when most people are asked about their experience at the park they respond with “It was incredible!”  They often overlook standing in long lines, the hot, humid weather, or ever-rising ticket prices.  If the trusted customer experience that has allowed Disney to have an attendance growth over 30 years.  Returning customers trust the Walt Disney brand and know what to expect when they plan to visit for the coming summer.

So, to increase your traffic and provide additional services, you will need to focus on your existing patients. You will need to provide value within your relationship. You will need to create an “experience” for your patients that they know they cannot receive elsewhere.

Once you accept the necessary steps you need to take now you are ready to begin intentionally and with the purpose contacting your existing patients.  According to noted business consultant guru, Jay Abraham, he teaches that there are only three ways to grow a business. What are you doing to increase the income and profitability in your business?

Most people, including me, think that increasing business is a complex giant burden of thousands of possible tactics that one can try; but, Jay Abraham takes the complex and makes it simple.

Just thinking of all your marketing and business activities as falling in one of these three categories will help keep you focused and will quickly give you a boost in revenues and profits. I thought I’d share the three ways to grow a business and several simple ways that you can implement them in your business. Besides, focusing on only three business building categories throughout our business lives doesn’t seem so bad …..… right?!

So what are the three ways to grow a business?  1. Increase the number of clients – get more new prospects into paying customers. 2. Increase the average transaction – get each client to buy more at each purchase. 3. Increase the frequency that the average client buys from you – get each customer to buy from you more often.

What happens to your business when you increase each of these three ways by just 10% each? What happens is you don’t increase your total business by 10% or even 30% — you end up getting a compounding effect. Jay Abraham says by simply increasing each of these three areas by 10%; you’ll grow your total revenue by 33.1%. This improvement creates a tremendous boost in income.

If I said you should grow your business by 33.1%, you might feel overwhelmed, but if I said increase just these three areas by only 10% each, you would believe it’s possible to achieve.

Here’s the math used by Jay Abraham in his book, Getting Everything You Can Out Of All You’ve Got:

1000 customer’s x $100 per transaction x 2 transactions per year = $200,000 Increase by 10% in each area: 1100 customer’s x $110 per transaction x 2.2 transactions per year = $266,200. Just following this simple formula, you could double your business with a 25% increase in each area.

This tactic is what Jay Abraham calls LEVERAGE. When you optimize just one of the variables, growth will be linear. But when you optimize TWO or THREE of the variables at the same time, your growth will be exponential because you’re creating LEVERAGE.

Take an hour and brainstorm ways to increase your business and then see in which of these THREE your ideas fall into then select the best option.

In a very short amount of time, you will begin to see how applying the strategic tactics can significantly impact the business Lifetime Value of each patient.  Here’s an interesting fact to ponder: According to Invesprco.com, 76% of companies see a client’s lifetime value as a significantly important concept for their organization; however, only 42% of companies are able to measure lifetime value accurately.

There’s a famous quote from the legendary marketer and department store owner John Wanamaker that goes like this:

Half the money I spend on advertising is wasted. The trouble is I don’t know which half. That was in the pre-Internet days, and now the situation is compounded. Because online marketing is viewed as being free or nearly free, most business owners waste as much as 85% of their marketing budget on marketing that doesn’t work.

So what’s the solution? You to have access to a system that accelerates the buying process of your services while marketing less.  If this sounds counterintuitive to traditional ideas about marketing,  rest assured that systems are indeed available to provide those solutions.

You need a Sales Acceleration Diagnostic Tool, where you can qickly identify just the few most productive marketing strategies you should focus on and which other strategies to eliminate immediately.

This results of which allow you to invest significantly less time and money to increase your sales in the following areas:

  • Generate more traffic – and higher quality traffic
  • Convert a higher percentage of prospects into paying patients.
  • Turn more single-sale patients into loyal, repeat patients.
  • Increase the dollar amount of the majority of purchases your patients make.
  • Create a steady, reliable stream of high-quality referrals.

The entire premise revolves around a basic understanding of meeting patient’s Grow your businessconcerns.  The stark reality is that you will have tremendous difficulty in increasing your clinic’s traffic if you don’t know what motivates patients to call your office. Additionally, you will have the same challenges in having them receive additional services from you if you don’t understand them.

Here’s the key to successful marketing to both existing and future patients. You MUST be able to address the number one question on your patient’s mind.

Universally, all consumers are motivated by self-interest. Therefore, it is your task to figure out your patient’s concerns. More often than not, that person’s concern deals with the issue that:  there’s a problem they have and they don’t want it, and there is a result they want but don’t have.

As we go along, you will learn some key points to consider and steps to take to convert a higher percentage of patients, to increase the number of services you provide, and to create steady streams of highly qualified referrals.

CREATING YOUR SYSTEM

As we mentioned above, you need to review areas of your marketing and identify assets you already have but aren’t fully capitalizing. Your goal is to reveal a significant opportunity to increase your sales with no cost or risk on your part.

Most practices have established a high level of trust and credibility with their patients. This confidence is an unrecognized asset they rarely use to its full advantage. That means that you’re leaving substantial profits on the table that you could otherwise be making.

While making profits is essential, for this system to function at peak performance, your goal needs to be to increase your patients’ loyalty which occurs when you add value to the relationship.  Commit yourself to being a problem solver and an ace communicator.

The fact is, there are many services related to your own that your patients would appreciate knowing about and buying.  But they can’t always tell which services are good or best, but it’s your practice they want to trust. Because they trust you, you can use that confidence you’ve worked so hard to build to recommend both your services and other non-competitive health providers to your patients and multiply your profits as a byproduct of the confidence you have integrated into that relationship.

This is something you’ve seen done many times but probably didn’t think much about while it was occurring. For example, Amazon is a master of leveraging the trust their customers have in them. I’m a fan of historical novels (or whatever your interest or hobby is). Once I buy a historical novel from Amazon, every few weeks, they’ll send me recommendations of other historical novels I may like.

This saves me the time of having to search out new books, and since I trust Amazon, I’ve bought a number of novels on their recommendation. This same use of trust can be used very profitably by any business, including yours.

When you do this, you can easily see a 30% increase in profits, and I’ve seen some companies increase profits by 50% or greater when the strategy is properly implemented.

Noted business development, Bob Serling, developed an excellent checklist for the joint venture industry which hits on all the things that you will need to create your own patients’ matrix.

He suggests that you begin with a self –analysis.  It should look something like this:

  • List size: ___________________
  • How big is your email list? ___________________
  • How many people on your list are paying patients, and how many are prospect who haven’t bought anything? ______________

Company earnings:

  • How long have you been in business? ____________
  • What is your revenue so far for this year? ________________________

o   Is that more or less than for the comparable period last year?  ________________

  • What is your gross profit margin? ______________

Value proposition:

  • What is the value your services are best known for?

o   Quality – Price – Reliability, etc.   _____________________________________

Product information:

  • What is your most profitable procedure and how much does it sell for? ______________
  • What percentage of your paying patients have already bought that service? _________
  • Is there anything that would prevent your patients from requesting this procedure again? ______

One of the fastest and safest ways to grow your profits is by leveraging the trust you have with your patients to offer them more services they would benefit from. This can be offering your own products (if applicable) to them again or offering other non-competitive companies’ products that are related to yours. Are you currently doing anything like this?

If you have never given this much thought, reconsider your approach towards this strategy.  It makes complete sense when you think about it.

Most companies don’t realize how effective it can be to become a trusted source of additional services. The beauty of this process is that you can offer all kinds of complimentary products or services to your patients without having to produce any new products yourself. And the trust you already have with your patients grows even stronger when you make recommendations that they can receive great benefit.

Does this sound like something you should take advantage of?

The only thing you have to do is explore and discover the right companies to work with when it comes to other products.

You just be building strategic friendships/alliances, those are among the things you do for your patients.  Question, what do you think the dollar value of offering a really attractive product to your patients might be?

Grow your businessIf you carefully orchestrate a few of these deals each year, so as not to conflict with whatever else you’re doing, your profits could be even greater (when you take into account the probability of client exchanges with your strategic friendships). So assuming that you did one or more of these deals every year, what’s the long-range implication of this?

The long range effects of creating these relationships could be very lucrative!   And on the flip side, what would be the implications of not doing this?

The answer to that question may very well be a lot of money on the table.

Presuming that all of the costs and the effort evaluation works out; does this sound like something you’d like to solve right now?

Let’s say that we can turn this to your advantage very quickly, make a number of sales to your patients every year, and keep building additional layers of trust as we go. How would that help you?

Every medical practice is always looking to grow their profits.  This strategy puts you in the position of bringing, even more, value to your patients and that they’ll appreciate you for that. That’s a substantial advantage to have over your competitors.

Think about it, if we accomplish what you’ve just described, what would that mean?

It would be fantastic. You would make more money and lock in a greater market share that your competitors couldn’t touch. 

Quickly and safely increase your sales and profits.

As we have been mentioning, this strategy focuses on offering your patients additional products that you carefully select.

We’ll start with an offer of a particular product (like that we discussed a minute ago). The reason for this is that it takes almost no time or effort to do this. You can have a highly effective email campaign ready to send out in just a few days. So a week or so later, you can be receiving new orders.

Note, at this stage, there is more detail involved in a successful endeavor.  Our team will gladly create the entire campaign for you, and all you have to do is approve the copy, let us know if there are any changes you’d like to have made, then send it to your list. So as you can see, there’s no marketing cost or risk with doing this.

Next, we’ll line up a number of products from other companies that you can offer to your patients. By doing this, you can make strong sales, and you don’t have any development costs or marketing costs. So again, there’s no risk on your part. And your patients will greatly appreciate that you’re getting them a discount on the types of products they’re already looking to buy.

Strategic friendships like this are very attractive to the companies whose products you endorse, as it gives them a distribution channel they wouldn’t normally have. It’s also easy to implement since you already have the ability to contact your patients and you have their trust.

So you can ramp these offers up very quickly. Typically, we recommend making one offer per month. We’ll start by sending your patients an email telling them about a new service you’re establishing that costs them nothing and will give them attractive discounts on products that benefit them and compliment your own services.

We’ll also tell them in this email that if they aren’t interested, they can just opt out, and they won’t receive any of these types of promotions, but they’ll still hear from you with your regular emails. This way, we’re only sending the offers to people who are genuinely interested, and you never lose any patients from your main list.

In fact, we will even assist you in finding the companies for you to create these alliances, and contact them on your behalf.  We present you with a list of potential agreement colleagues, and you’ll have approval rights on all potential associates before we ever contact them.

We’ll offer your alliance associates a split on profits of 50/50.  That’s very fair to both sides as you both gain profits that you wouldn’t see without this alliance.

We will start with your services, and we can have the marketing campaign for that ready to go in just a few days.

While this is occurring, we will start lining up strategic alliance allies. Once we’ve arranged the first alliance, the next step is to create a marketing piece where you recommend the alliance colleague’s product to your patients and give them a discount or some other type of incentive for ordering. Again, we will be responsible for creating the marketing piece, with input and approval from whoever you designate.

In my experience, selecting products that are a great fit for your patients’ needs along with your endorsement to folks who trust you is an unbeatable combination. Most companies find that they can increase their profits by 30%.   Actually, we have seen the results shoot up as high as 70%.

NOTE: Here are some excellent examples from specific clients who have enjoyed great success by exploring some overlooked options.  We have changed their identities because of confidentiality agreements; otherwise, the details are unaltered.  Enjoy!

Dr. Patrick Aberdean:

Dr. Aberdean is a cosmetic surgeon in Beverly Hills, California. 

His practice serves over 7,000 patients.  The average procedure costs $6500 plus, per patient.  On average, his patients were only receiving one cosmetic procedure. 

Dr. Aberdean had an annual marketing budget of $500,000.  He was spending a fortune attracting these patients. 

We created a marketing campaign for his practice.  We sent each of his patients a personal message inviting them to explore having another procedure.  Each patient received credit voucher of $1200 as an incentive.   

The offer was successful, and 118 of these current patients opted to have another much-wanted procedure. 

The results were as follows: Gross sales totaled just over 673,000 dollars.  All of this was achieved without committing any additional money towards his marketing or advertising budget. 

We simply contacted his very best sources for accelerated sales — his already existing patients!

We taught Dr. Aberdean to focus on those patients already believed, trusted and loved him. Plus, he has helped his patients transform their lives, boost their confidence, and feel better about their lives.  Best of all, he didn’t need to convince them of anything! 

There’s an extraordinary amount of wealth and immediate cash flow opportunity in your existing database waiting for you.  Dr. Aberdean received the much-needed influx of cash for his practice. 

His patients were acknowledged and given an incentive to do something positive for themselves.

 

Robert Melden:

Graphic  Arts advertising business in San Diego California. 

Mr. Melden’s company had over 10,000 existing clients that each paid over $5000  per year for a design license. 

His Graphic Arts business offers 14 different products ranging from $5000 to $25000 per year.  Each of the 10,000 existing clients purchased only 1 or 2 of the available 14 products. 

Our team created a direct marketing campaign that was implemented these tactics within seven days.  Each of the existing clients was given a credit voucher in the amount of $1,000.  They could utilize the voucher towards any product they wanted. 

The results yielded the following results:  227 existing clients purchased at least one or two products. Gross profits totaled just over $1.36 million dollars. 

Why did this work out so well? 

As we’ve been discussing, it’s the building up of trust.  The already existing clients are huge fans Mr. Melden’s services.  They knew the value of what they were purchasing. They already received very profitable results from what they had previously purchased.  Additionally, they were acknowledged and given a great reason to purchase more (added value). 

The best part of this strategy, there was zero client acquisition costs. 

We now duplicate this campaign three times per year resulting in millions of dollars in gross profit. 

May we do the same for you?

 

Potential gains the patients will get                   

There is one more important factor to consider here.  While we recommend making one offer each month, all it takes is four good products to do this.

You see, at any given time, only 2% to 7% of your patients will take advantage of Grow your businessan offer. This statistic is true for offers of your own services too, which you can easily verify by checking your sales and activity records.

This low conversion rate can happen for several reasons.  Sometimes the timing isn’t right for a patient, they are too busy, or they may not need for your strategic colleague’s product or your services at that time. But all that changes for different people at different times. So by identifying, for example, four different services that provide to your list, we can rotate each service through three times per year. And that’s a major factor in making this easy to increase your profits by 30%.

For example:  If you are a child psychologists, it is reasonable to deduce that a patient may have multiple needs (that maybe they haven’t expressed yet). You could offer special events and courses to build self-esteem, combat bullying, essential tools to fight off depression, or basic clinics for parents dealing with behavior issues, and so on.

So let me ask you if we were to achieve that increase of a 30% mark with your services, and your alliance colleague could achieve the same, approximately how much would that be worth to your business?

Since we’re working on a 50/50 split with your strategically, the additional profit goes straight to your bottom line.  And then there’s the intangible of building even greater trust, which allows you to keep your patients rather than having them give their loyalty to one of your competitors.

Conclusion:

Those are the recommendations we have for you that will increase your profits substantially without any cost or risk on your part.

You will need to create a system that can be leveraged to capture 30% to 200% more leads; one that immediately converts substantially more prospects to paying patients increases the average amount of every sale you make, and develop successful referral programs with several strategic allies,

Or, would you prefer to do them on your own or would you like my help?

Our proprietary Sales Acceleration Diagnostic Tool will quickly identify the most productive strategies to apply in each of these areas, many of which you’re currently overlooking. Then we will help you leverage those tactics to accelerate your sales rapidly.  Plus, our pay only for results guarantee removes all the risk on your part, since you only pay for our services once they’ve produced measurable results.

We require a modest retainer to begin work, then the balance of our fee is paid only after you’ve banked your profits. Is it any wonder then, that our satisfied clients report results like these:

 

Dr. Berstien

Dr. Berstien owns and operates a Statewide Association for Medical Professionals.   The Association has over 1500 members.  There are two membership options available to each member of the group: either a free or Premium membership plan.  Premium membership costs 395.00 per year.

In our initial interview, we inquired about things like:

What are the benefits of being a Premium Member versus a free membership?

What extra value components come with a premium membership?

What value is there for even joining the Association?

What benefits exists for free members? 

Dr. Berstien told us about a valuable benefit of being an Association Member.  Every day the organization distributed “red hot” prospective patient leads to all members both free and premium.

When Dr. Berstien mentioned that there was no difference whatsoever between both forms of membership benefits, we were compelled to ask a very significant question:  If both free and premium memberships receive exact same benefits, “What incentive is there for a member to pay $395.00 per year?”

There wasn’t an answer to the question.

Here is what our team strongly suggested:

  • Premium members only receive the red hot daily prospect patient leads.
  • Since the average lifetime value of each patient that is being referred from the Association to the awaiting doctors in the group far exceeds $4500, this presented a significant enticement.
  • Therefore, this created a huge benefit and incentive for everyone to join the premium plan.
  • For the small fee of only $395.00 per year, premium members would receive several prospective leads potentially worth thousands of dollars.

We created a highly successful direct response marketing campaign; and, all 1124 members of the free membership plan received these promotional pieces.  The letter we sent out included many case studies from very happy premium members.

We also included a very specific call to action along with an ending deadline on the offer.

We received an immediate 32% response on the direct mail piece when 360 previously free members responded and converted to the $395.00 per year premium member status.

This one-time campaign increased gross revenue to just over 1.36 million dollars per year.

We have very successfully implemented this campaign twice per year with similar results.

Your most profitable cash surge strategies involve marketing more often to your already existing patients.

The best part, besides the obvious increase in profits, is that these hugely profitable campaigns can be implemented quickly; they can be up and executed in one to two weeks.

Our innovative and creative marketing team can do these cash surge campaigns for you!

Right now, is the very best time to get started.

 

Dr. Larry Pine

Dr. Pine is a dental implant specialist.  He has an existing database of 3700 patients. 

Dental implant surgery is expensive compared to most dental procedures.  Having missing teeth is an embarrassing problem that can easily erode self-confidence.  The average fees can cost upwards of $4300 per tooth. 

Dr. Pine’s patients know, like, and trust him and are extremely loyal. 

Cash flow can often be sporadic and unpredictable.  Dr. Pine was frustrated and worried about the future of his practice.  His advertising and marketing efforts produced rather dismal results. 

Our team created a direct response marketing campaign for him.  We rewarded his present patients with a unique and powerful offer.   

We created a “Thank you” gift voucher in the amount of $500.00.  The coupon was a special one-time-only fee reduction of $500 dollars per implant.  Again, the letter included several case studies from satisfied patients along with a specific ending date. 

A very compelling and emotionally charged letter was crafted in a very conversational tone.  His patients later stated that they had the feeling that they were speaking one-on-one with Dr. Pine in that letter.

As a result of that letter, 218 existing patients all scheduled appointments and had procedures performed.  Dr. Pines practice got an almost immediate, and much-needed, cash flow surge. 

The strategic campaign our team created exceeded Dr. Pines expectations many times over. 

Total gross revenue was just over $1.27 million dollars.  We have since created very similar campaigns for Dr. Pine that are implemented by our team four times per year.

 

We sincerely want you to realize similar or even more dramatic results for your practice.  However, it is important to note that though the example we document in this book went quite well, this is not a guarantee of future results!  There are a lot of variables that go into these results. 

We have helped practice owners just like you to realize cash-flow surges in a very short time.  Most of our creative campaigns usually happen within a one to two week period. 

The only difference between your practice and those of our clients is…………… Action! 

There is no substitute for taking decisive action within short time spans.  We provide you with our exclusive, unique “results-only” guarantee. 

When you contact our office via phone, email, or text message, our team members will schedule your free proprietary diagnostic cash surge session.  These sessions usually run about 15 minutes and will provide you a clear plan of action. 

WE will give you all the details you need to do this for yourself.  Let’s face it; we live in a “DIY” world, this may be something you want to tackle on your own.  Just between you and I, most of our clients opt for our team to do all the heavy lifting for you. 

There you have it. 

Our only recommendation for you is this:  Take some form of action right now.

If not now, when? 

We have a current and time-limited special incentive for early action takers like yourself.  Grab your free 15-minute profit surge diagnostic session while it’s still fresh in your mind.  Who knows, this could be one of the most profitable decisions you’ve ever made for the present and future of your practice!

We’d be happy to run our Sales Acceleration Diagnostic Tool for your business at no cost and let you know which areas of your marketing hold the most potential for significantly increasing your sales.

 

 

 

 

 

5 Valuable Tips: Building A Referral Business That Works!

A steady stream of patients is extremely vital for the survival of every clinic!  How effective is your referral program with your medical colleagues?

 

The best way to predict your future is to create it!” —  Abraham Lincoln

Medical professionals have built their success on forming and nurturing referral partnerships since time infinitum.  The most powerful of these referral relationships are created when mutual benefits are built-in to those alliances.

This is precisely the point of this article! We intend to show you how to create stronger ties with your medical colleagues. Additionally, this piece will teach you how to provide greater value and separate yourself from other doctors also seeking referrals.

The first place to begin is with the basic inventory of your current actions, for example:

  • What are you doing to position yourself with your colleagues to stand out from every other doctor that requests referrals?
  • Are you a good and beneficial referral partner? 
  • Have you established strong bonds of trust?
  • Are you providing a reciprocal benefit to your referral partners?
  • Have you established a sense (within your colleagues) of superior expectations?

Many clinic owners give no thought to the fact that success in business is an on-going competition for survival!  In order to thrive, you need to implement intentionality!  Every day, you must build into your calendar a plan and action to generate more and better patient leads.

According to noted business development guru, Jay Abraham, there are only three ways to grow your practice.  You either increase the number of new patients, get them to buy more medical services, or pay more for each proceedure.

For this article, we will focus on increasing the number of new patients. We will focus on the other two methods in future articles (as well as in past issues such as in “8 Steps For Increasing Business“).

CREATING AN ALLIANCE

In order for a referral program to work, you have to do some investigative work. You must figure out your colleague’s needs and motivations. There are both Referralpsychological and emotional components in play when referring patients. You need to know about your colleague’s current referral partners. Why is your colleague using them rather than someone else? How committed are they to these people? How open are they to adding to their list of referral partners?  Do they have long-standing ties such as school, social, or fraternal affiliations?

“More than features, more than benefits, we are driven to become a member in good standing of the tribe. We want to be respected by those we aspire to connect with, we want to know what we ought to do to be part of that circle.” – Seth Godin

As you can see, you may be asking someone to break or significantly bend long-established ties. In order to do so, you will have to consider “What’s in this proposed relationship for your colleague (ie. what’s in it for them?)?”

It may seem crass to say but we’re all motivated by self-interest. As such, as part of your detective work you need to uncover your colleague’s “why.”  In other words, what is the perceived benefit they stand to gain from you? Continue reading 5 Valuable Tips: Building A Referral Business That Works!

10 Proven Business Techniques For More And Better Patients

Are sick and tried of advertising with no guarantee of results? At last there is a proven method for attract more and better patients!

Webster’s dictionary describes a commodity as a class of economic goods; especially an item of merchandise (such as soybeans) whose price is the basis for future trading.  If you want your clinic to grow, and to get more and better patients, you need to break free of the commodity trap!

We live in a world where your patients have more options than ever before! The fact is that patients are loyal to doctors and not to practices.  However, if the only thing that separates you from your competitors is price then you have become a commodity. Your value has been reduced to the lowest common denominator — cash! You will only get more and better patients if you provide value well beyond a price-point.

As you read this, think back to when you initially opened your doors. Did you intend to open a practice that was only distinguishable by the prices you charge for the services you provide? A clinic where the only discernible difference between you and your competitors is that the decor and color of the scrubs you wear?

As you read further, you will see many examples of things you can easily do to connect more fully with your patients. In so doing, you will also gain greater insight of your patient’s needs while reaching them!

First and foremost, to attain the success you desire, you must take personal responsibility for your promotional efforts. You may not be well-versed in marketing and advertising, but you need to align yourself with someone who is.  Your clinic’s survival literally depends on it!

Additionally, according to the Harvard Business Review, it is up to 25% more expensive to acquire a new patient than to retain existing patients.  Further, Frederick Reichheld of Bain & Company states that increasing customer retention rates by 5% increases profits by 25%-95%. So the motto of the story is, you don’t have to spend time and resources to get new patients, you just have to make the ones you have happy.

Jill Avery (lecturer at Harvard business school) states that “churn rates’ provide important and measurable matrices.  This matrix is important because it focuses directly on the lifetime value of a patient and your return on investment.  It’s not just marketers who look at churn, many investors use the metric to evaluate the underlying health of a firm. The higher the churn rate, the more they question the companies viability. Therefore, it’s not just understanding that patients leave, it’s about understanding why they leave.  Then, you must make a concerted effort to make sure that the rest of your patients don’t follow suit!

If you have never considered the value, over a lifetime, of each patient you are in for an eye-full!  The lifetime value a patient represents is an easily calculated formula. You simply calculate the amount of revenue you receive from a patient each time they visit. You would then multiply that figure by the number of times per year they visit. Finally, you would multiply that amount by the average number of years that you retain your patients. As I’m sure you can see, each patient represents a significant amount of revenue to you.

You will also notice that losing patients means that you are handing over thousands of dollars to your competitors. This is not to say that you can’t be discriminating. There is no reason not to exclusively work with your favorite patients. You simply have to be more astute with your promotion and content.  You may even wish to explore strategic affiliations to increase the numbers of desirable patients.

“65% of a company’s business comes from existing customers, and it costs five times as much to attract a new customer than to keep an existing one satisfied.” Source quoted as Gartner.

You should now do some calculations to fine-tune and identify more and better patients. You need to evaluate the quality of your More and better patientscurrent patients. Essentially, you need to determine which patients represent the 20% that provides you with 80% of your annual revenue. Once you establish this number, you then figure out what their primary concerns are. For example, if these patients represent chronic migraines, and you would then target your marketing for that specific ailment.

Stay very close to your patients, so you know their exact needs, today and tomorrow. Your aim is to be irreplaceable as their healthcare provider. Continue reading 10 Proven Business Techniques For More And Better Patients

How to Use Your Branding to Get Genuine Practice Dominance!

“When you look at strong branding, you see a promise!” — Jim Mullen

What if every time you send a promotional piece to your patients, that message gets received with great excitement?  It is possible to attain genuine dominance of your marketplace; and, it’s only a few key steps away.  An essential aspect of fruitful and predictable marketing begins with superior branding.

A properly developed brand identifies you as the absolute “go-to” doctors in the area.  Excellent branding allows you to accurately achieve your reward with stable, dependable, and genuine, programmable response and communication rates.

Think of your marketing promotion like a three-legged stool.  You need each leg to be sturdy, or the stool will fall. In this case, the legs of your stool represent your niche, your content, and your credibility.  Therefore, to achieve great branding, you must also focus heavily on the content of your message.  You must spotlight that segment of your market (your niche) for which you want to be known.  For example, prenatal care, make it your mission to provide fresh, innovative, and helpful information that compels Moms to read.

In fact, in an article written for the Balance.com, author Laura Lake says,

There is a lot of confusion around branding, there are multiple definitions, so what is branding?  Decades ago branding was defined as a name, slogan, sign, symbol or design, or a combination of these elements that identify products or services of a company. The brand was identified of the elements that differentiated the goods and or service from the competition.  Today brand is a bit more complex, but even more important in today’s world of marketing.

It’s the perception that a consumer has when they hear or think of your Brandingcompany name, service or product.   That being said, the word ‘brand’ or ‘branding’ is a moving target and evolves with the behavior of consumers, I think of it as the mental picture of who you as a company represents to consumers; it is influenced by the elements, words, and creativity that surround it.”

As you can see, to create a successful brand, you must understand the needs and wants of you patients!

You must also establish your credibility.  In a crowded market, where your patients have a lot of choices, you must stand out as a leading expert.  Incidentally, this would be the complete opposite of mass marketing.  You will never be an expert if you try to be all things to all people!

As stated earlier, credibility starts by targeting your market and developing your reputation as a great resource.  In essence, becoming a mini-celebrity to the right people because you’re trustworthy, knowledgeable, and close at hand.

Because of your status, everything you send must be excellent and incomparable.  You must position yourself as the best and only solution! Think about it; you’re not breaking new ground, organizations like the Mayo Clinic and Johns Hopkins set a masterful blueprint.  You too can achieve similar results, if you dedicate your brand to that level of preeminence.

*I would invite you to discover more about our unique strategy to develop your Authority Brand.  Read our article on becoming a “resident expert” in your field.  Learn how to create division (from a patient’s perspective) between you and every other chiropractor in town. Continue reading How to Use Your Branding to Get Genuine Practice Dominance!

The Secret to Success: Branding

Branding:  Don’t be scared to present the real you to the world, authenticity is at the heart of success.

 

Branding is one of the most important aspects of any business, large or small, retail or business to business (B2B).  An effective brand strategy gives you a major edge in increasingly competitive markets. But what exactly does “branding” mean? How does it affect a small business like yours?

Your brand is that ADHESIVE image you carry, that has the ability to STICK to the minds of people you meet physically or otherwise. Brand yourself positively because whoever gets to know you when passing by takes your image along!” ― Israelmore Ayivor, Daily Drive 365

Recently, John Williams wrote in a very informative article in Entrepreneur Magazine, titled the Basics of Branding.  He points out that simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors’. Your brand is derived from who you are, who you want to be and who people perceive you to be.

Now that you know what branding is, how do you attain it?  How do you form it?  How build your business off of it?

The first place to begin is to look in the mirror.  Who are you?  Who is the principle patient?  What is your specialty?  If you don’t know, you will need to do some soul searching.  Figure out where your passion lays.  Maybe your answer is right in front of you?  Do an inventory of your entire patient base and establish each patient’s unique need.  Clarity may be closer than you think.

The next step is to figure out your practice’s mission.  Based on that information establish the unique benefits and features of your services.  Now build off of that Brandingby establishing what your patients think of your service.  Finally, determine what qualities you want patients to associate with your practice.

Congratulations, you have just determined your unique selling proposition (U.S.P).  In short, that unique benefit, essence, appeal or promise that you hold out to the patient (one that no other doctor offers).  It must be a clear, concise, compelling reason that makes your patient aware of what your practice can do for them. Continue reading The Secret to Success: Branding

5 Secrets for Building Deep Patient Pools

If your desire is to create successful and predictable marketing campaigns; you’ve come to the right place!

What you share with your patients determines your desired outcome — developing deep pools and long-term relationships is directly tied to successful and predictable marketing efforts!

The sole purpose of advertising is to say to the world “Hey, I’m here and ready to serve your needs!”  Also, the only point of sending periodic notes to your patients is to give them information they want!  Successful and predictable marketing shouldn’t be some random thing that is merely thrown together.  You want to provide information that compels.

*Note, these correspondences include your e-mails, newsletters, special reports, etc.

Why? Because reliable and authoritative content builds loyalty within your patient base.  The more fidelity you build, the more consistent business you can count on, and the greater the referral possibilities.  By providing valuable tips, in easy to understand portions, on the topics your patients need, you create that allegiance.

You will be building upon your reputation as the authority in a particular ailment within your field.

Again, why is any of this so important?  There is an excellent article in HelpScout.com, titled the “The art of customer loyalty,” explains this principle succinctly:  In a world where your competitors are only a click away, customer loyalty really is the new marketing. Today’s customers have access to an endless amount of information about your business, and research shows that they’re ready and willing to stop dating around and stick with companies who go above and beyond to create a fantastic customer experience.

Therefore, if your intention, when sending out your communication pieces,  is to touch, educate, compel and build deep bonds with patients, then you have to make sure each piece is read.  Successful and predictable marketing

As you read on you will learn strategies  to achieve that very topic.

As such, the cornerstone of your practice’s prosperity is a proper communication strategy which yields both successful and predictable marketing campaigns.

What if every time you send an email to your patient, that email was received by that recipient with excitement?  An essential aspect of successful and predictable marketing includes superior branding.

Brand (ing): The marketing practice of creating a name, symbol or design that identifies and differentiates a product (your service) from other products. An effective brand strategy gives you a major edge in increasingly competitive markets.

A properly developed brand identifies you as the absolute “go-to” doctor in the Continue reading 5 Secrets for Building Deep Patient Pools

Important Lessons – How Online Marketing Won 2016 Election

Online marketing is real, and it won the 2016 election!

Regardless of which side of the political aisle you sit on, the facts are in, and the brilliant use of online marketing won the day!  This should by a classic lesson for every Chiropractor wishing to attract more and better patients!

Let’s face it, the current economic conditions haven’t been kind, and have touched everyone.  To overcome, succeed and excel, you need to adopt better marketing techniques.  Further, if you are using online promotion, you will want to read this blog and upgrade what you’re doing.

The online phenomena was first mastered and seen four years ago during the Obama-Romney race.  Actually, we saw it at its earliest stages during the Obama-McCain run.

According to noted marketing and sales strategist, David Meerman Scott, author of “News Jacking: How to Inject your Ideas into a Breaking News Story and Generate Tons of Media Coverage.”:

“We live in a 24/7/354 world, second-by-second news environment!  The most prosperous and savvy operators realize there are new ways to generate media attention.

The rules have changed.  The traditional PR model—sticking closely to a pre-set script and campaign timeline—no longer works as before. Public discourse now moves so fast and so dynamically that all it takes is a single afternoon to blast the wheels off someone’s laboriously crafted narrative.

To be effective, you must launch your business ahead of the competition and attract the attention of highly-engaged audiences. You do this by taking advantage of breaking news.  Additionally, you do that by generating attention and growing business in a real-time world.

Our always-on, web-driven world has new rules for competing and growing business. ‘Advance’ planning is out and agile is in! Those who embrace new ways will be far more successful than those who stay stuck and afraid to change.”

Recently, he wrote and interesting piece and an accompanying video on th 2016 Campaign.  The piece is titled: How Inbound Marketing and Sales Decided the 2016 US Election.  He believes that Donald Trump won because he understood his buyer personas better than the Clinton campaign.  He passed that information via his online domination.

Meerman-Scott says that Trump created a strong, memorable message from the moment he announced his candidacy in 2014. “Make America Great Again” (#MAGA) captured his promise to buyer personas. People all over the country knew the slogan. Trump used inbound marketing to make himself the 45th President of the United States. Continue reading Important Lessons – How Online Marketing Won 2016 Election

Secrets to How to Write a Better Ad — The value of a compelling headline

Let’s face it; everyone wants to learn the secrets to how to write a better ad.  That’s the point of advertising, to grab your patient’s attention immediately; so as to develop dependable, steady streams of new patients, and maximize your return on investment.

 

Learning “the secrets” of how to make a better ad would mean that you would never again have to play advertising roulette with your ad budget!  The key to an effective ad begins with a captivating headline!  Headlines play monumental roles in the strength of your ads.

Your goal needs to be to have predictable results every time you run an ad.  Your ad must be a salesperson in print, online, on the radio, in the television ad, etc.  A weak or non-existent headline works as a highly skilled and master saboteur against your advertising effort!

Unless your display ad convinces a patient to pick up the phone and call you or come into your office, your ads are useless.

Unfortunately, many Chiropractic display ads all look alike and say the same things, such as: “Free Consultation,” “Adjustments,” “Family Oriented Practice.” All important points on their own merits; unfortunately, in most ads, the only elements that change are the name of their practices.

To have your next patient pick up their phone and call you, your ad must stand out and be different!  Worst still, some chiropractors only state their name in their ad.  What benefit does a potential patient derive from this information? Absolutely nothing!

There is an absolute law that applies to all advertising (from the consumer’s point of view):  The client (all clients) only cares about one thing: “What’s in it for me?” (WIFM).  Otherwise defined as individuals exercising their own self-interests.

Your ad needs to quantitatively enumerate reasons why a patient “MUST” choose you over everyone else providing the same service.

There’s a secret your advertising sales representative (the person representing the particular vehicle in which you advertise) won’t tell you.  When your ad appears, or is heard, your competitor’s ad will also be seen or heard in that medium.

When you advertise, you are competing in an arena where there are multiple competitors for the available clients.  Highly successful and profitable display ads have very specific things in common, they include:

A Great Headline A Compelling Sub-Head What Makes You Unique?
Offer Specific Benefit Make a Decisive Offer Include a Call to Action

Though many media forums provide the basic elements of these key ingredients, too often, they [the media outlets] simply provide some variation of a cookie-cutter formula for “advertising success.”

* It is important to stress that there is nothing wrong with a generic advertising format; so long as it yields the intended results!  If, however, if you aren’t getting the responses you expect and need, then you must re-evaluate your message!

The importance of a headline –

Fact, up to 95 percent of all Chiropractic ads have no headlines.  Multiple marketing studies, covering several decades, reflecting consumer’s buying habits demonstrate that fully 80 percent of all potential patients only read headlines when deciding which company to use.  Further, it has been pointed out in these many studies: Continue reading Secrets to How to Write a Better Ad — The value of a compelling headline

Why Social Media Is Essential for Business Success

Fact, in this modern electronic world, social media is essential for your business growth!

 

It seems that every day the world is moving faster and faster, and the pressure to build and strengthen your medical practice is that much more intense!  As such, as members of society are reaching out and connecting in record numbers on a multitude of issues, including business referrals; it is more important than ever for chiropractors to embrace this truth:  Social Media is Essential For Your Business Growth!!!!

To strengthen the social media reality further, many reports and articles pointing out staggering numbers like:

  • Online adults aged 18-34 are most likely follow a brand via social networking (95%). (Source: MarketingSherpa) Think about your audience and see where they are most likely to follow your brand.
  • 71% of consumers who have had a good social media service experience with a brand are likely to recommend it to others. (Source: Ambassador) Use social media as an effective customer service tool to increase brand engagement and win new customers. 
  • There are 1.65 billion active mobile social accounts globally with 1 million new active mobile social users added every day. (Source: We Are Social) Make sure to optimize your mobile social media campaigns and since mobile ads are relatively cheap and easy to produce, test multiple versions to see what works the best. 
  • 96% of the people that discuss brands online do not follow those brands’ owned Social Media is Essential For Your Business Growthprofiles. (Source: Brandwatch) Companies need to go beyond their channels and monitor those unbranded conversations to gain valuable insights and manage brand health.
  • Visual content is more than 40 times more likely to get shared on social media than other types of content. (Source: HubSpot) Flying Point Digital has a great post on how to create an innovative content strategy on social media.
  • There were over 4.4 million videos uploaded directly to Facebook in February 2016, generating over 199 billion views. (Source: ReelSEO) Video marketing is a powerful tool that personalizes your brand and increases conversions.
  • There are 40 million active small business pages on Facebook, but only 2 million of those businesses pay for advertising. (Source: Brandwatch) Therefore, small-sized companies should consider paying for Facebook ads to gain visibility and surpass competitors relatively easily.

*  Source: Dreamgrow.com 

The figures above are quite compelling.  If nothing else, from the perspective of attracting new patients, they are interesting.  Even the most cynical among us must concede that a serious argument can be made for the notion that social media is essential for business growth.

Additionally, in a recent Huffington Post article, titled Why Social Media is Essential for Business Success, author Harmel S. Rayat (who is a prolific investor, entrepreneur, business owner and author of his right)sums up the advantages to your medical practice quite succinctly.

Mr. Rayat writes, I’m often surprised at how many CEOs refuse to use social media. Perhaps they feel that having a social presence could be risky. Perhaps they fear that saying the wrong thing could ignite a PR nightmare – a firestorm not easily extinguished. Or, maybe they worry it could open them up to disgruntled customers who could threaten their company’s reputation.

On the surface, this seems to make a lot of sense, but based on my experience, a social presence is a necessity for success.

Social media ‘sociability’ shows that I’m listening; that I’m open to engaging in conversation and comfortable with technology. In short, it shows I’m a human being.

In fact, setting up a Twitter account and my blog was the best thing I ever did. Not only can I communicate with my friends and co-workers, but I’m also better able to tap into my intended core audience.

Remember, constant communication is key to growing a business. I’m the first to say that there’s no immediate value to penning a blog or tweeting a message to followers. It may even take valuable time out of my day. But the long-term benefits are difficult to ignore. Blogging, for example, helps nurture ideas. It also helps me build an audience and a following.

I now have more than 700 Twitter followers that I can speak to and listen to daily for inspiration and ideas I may not have thought about. Often, this ‘social’ interaction helps me shed further light on projects I’m working on.

I’m often surprised at how many CEOs refuse to use social media. Perhaps they feel that having a social presence could be risky. Perhaps they fear that saying the wrong thing could ignite a PR nightmare – a firestorm not easily extinguished. Or, maybe they worry it could open them up to disgruntled customers who could threaten their company’s reputation.

Continue reading Why Social Media Is Essential for Business Success

BUSINESS DOMINATION: Stand out and separate from the crowd

The content within your marketing message allows you to stand out in a crowded marketplace; business domination requires solid communication, your success depends on the value you provide!

 

Not enough medical practice owners treat their practice as an actual business.  Too often they [medical practice owners] don’t think about where their patients come from.  Generally speaking, most cities have a finite number of citizens living within them.  Those numbers vary a bit when you consider travel between cities (but that too is limited when adding drive-time).  However, to thrive and enjoy business domination, you must entice other doctor’s patients to come to you instead!

We often receive calls from clients who ask us how they too can stand out from the crowd.  This is the first in a three-part series of our on-going business development strategy.  Actually, it is more of a mantra (Business Domination and Strategically Confiscate Your Competitor’s Best Patients). We also teach these strategies through our report, entitled “PR Secrets Used by The Top 1% Chiropractors in America.”

An essential element that these top doctors excel in is the message that they convey to their patients; also known as the content within their message.

We have found that the desire to stand out from your competition is a universal trait regardless of profession.  For example, as a Chiropractor, what evidence do you provide that you are “the best solution in town?

If your advertising message doesn’t separate you from every other Chiropractor, you are just one more ad in a crowd!  Merely pointing to a sign in the parking lot or a generic “I fix back” in your ad won’t be enough to dominate your marketplace?

According to Robert Rose, Chief Strategy Officer for Content Marketing Institute, says that,

As content becomes an increasingly important element in business, it moves beyond being a support activity like human resources or accounting. It becomes a core activity, and joins the ranks of cost, technology, service, logistics and design as a potential source of differentiation and competitive advantage.“*

You must pay very close attention to this extremely specific, yet subtle, detail for business domination; it lays with the content within your message!  Think about it, what are you saying that compels clients to select you over every Business dominanceother provider of your service in your area — it’s a choice you know!

Essentially, desire to dominate your marketplace seems to be universal; however, actually taking that step requires a deliberate action!

If you don’t wish to lead your marketplace; then this series of articles really isn’t for you!  However, if you truly yearn to capture the lion’s share of business in your area, then you absolutely have to separate yourself from every other chiropractor in your town, county, or region.

At the risk of sounding cheesy, while driving the point home, Superman doesn’t assume his super-powers only when he puts Clark Kent to bed.

Once of the surest, most time-tested, ways to get immediate attention is to tweak your current public relations and marketing campaigns.  But what do you say and/or do to create that push?  Maybe, at this point, it is time to consult someone who can provide clarity on this subject.

Listed in this special series, are a few ideas that, even if you are already working with a PR agency or marketing company, you can implement immediately in order to separate and differentiate yourself from every other business professional in your area.

Again, the goal, through your company’s message, is to make you/the firm into the leading expert in your geographical area!

Large companies (like Coca~Cola, Toyota, or Apple Computers) aspire and carefully craft their actions towards total market domination.  Small businesses with a leading expert strategy flourish by establishing themselves within a carefully selected segment of a market; they target a market niche that they can realistically hope to dominate; often times that means displaying their unique business approach in order to create separation between all the other similar businesses in the area.

Market niches can be defined by region, by special client needs or by demographics, such as a particular ethnic or age group; sometimes just a product that’s a variation on an established one can generate a market niche.  (Interestingly, the word “niche” comes from the French meaning “nest.”)   As a small business you want to build your nest somewhere away from the hawks of big business.

How to Position Your Business as the Only Solution – In a crowded marketplace, it may not be enough just to carve out a niche.  You’ve narrowed your focus, but you still have competitors.  This is the time to distinguish yourself as a per-eminent source of solutions by refining your expertise and conveying it to your target audience.  You need to know more about something, or be better at something, than anyone else, and you have to let people in your area (geographical) know you are that person!

When you can honestly convey such a message, potential clients see you as the obvious answer to their problems and challenges, and the logical choice when they’re looking for a supplier or provider.

To conclude, if you closed your eyes to, and don’t acknowledge the fact that after you leave the presence of your client, you cannot stop your competitors from knocking on their door, calling them on the phone, or sending them an email or an Instagram message, you may be setting yourself up to be the next business owner who has their clientele stolen away by truly compelling messages from hungrier competitors; if this happens too often, then your next “best” move is to close your doors!

 

 

*Storyneedle.com

 

 

 

From the desk of Steve Cox, Co-founder of Stevenvonloren.com; Direct: 530.492.9971; My personal eMail: stevenvonloren@yahoo.com