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!

Save Thousands On Your Marketing & Still Get Killer Results!

Promotional efforts can be extremely expensive.  What if you could save thousands on your marketing and still achieve your best results? 

According to the U.S. Small Business Administration (SBA), the average business spends 7% of its annual revenue  on their advertising; in raw dollars, if you make a few adjustments, you could save thousands on your marketing!

More importantly, not only can you save thousands on your marketing, you can do it and still get impressive results with your promotional efforts.

Business promotion is a core element of one’s standard operating costs, i.e. “the cost of doing business.” However, how one promotes their clinic is an invaluable commodity for the astute marketer, which requires keen senses!  Moreover, promotional better strategies allow you to save thousands on your marketing!

Your medical practice, like every other business, needs a steady stream of patients to stay solvent. Beyond word-of-mouth and family, you need to engage in some sort of advertising to succeed. Unless you’re prudent, you will probably fall into the government statistic. It also means you will likely be spending thousands on your marketing as well.  As such, it is in your best interest to figure out how to shrewdly boost your returns on investment (ROI)!

Therefore, let’s see where we can maximize our budget, and save you money immediately.

Every business school in the country teaches one very important principle, it costs you significantly more money to get a new patient than to maintain and do more business with your current patients!

*  It is 6 Times More Expensive to Win a New Customer than to Retain an Existing OneThinkJar.com

Additionally, according to Sales and Marketing Magazine, 80% of all people who inquire about medical services take action within one year (emergencies excluded). However, they seldom do business with the clinic they originally contacted. This means you are educating your prospective patients to do business with your competition.

Your best and most lucrative strategy then is to focus on and provide excellent service for your current patients! Above all else, it is far more logical to do business with those people that know you and trust you.

In fact, the evidence is in and the Internet is chock-full of information supporting Save Thousands on Your Marketingthis evidence! Author Tricia Morris, from Business2Community.com, writes an excellent, enlightening, and convincing piece on the subject. According to her research, “the probability of selling to an existing customer is 14 times higher than the probability of selling to a new customer.”

Her article titled “It is 6 Times More Expensive to Win a New Customer Than to Retain a New One” further points out the following interesting facts:

  • If satisfied by the customer experience, 73% of the customers will recommend a brand to others, and 46% say they will trust that brands products and services above all others. – SDL Global CX Wakeup Call Report 
  • 97% of global customers say that customer service is very important or somewhat important in their choice of and loyalty to a brand. – Microsoft Global State of Multichannel Customer Service Report 
  • 76% of consumers say they view customer service as the true test of how much a company values them. – Aspect Consumer Experience Survey
  • 62% of global customers have stopped doing business with the brand or organization due to poor customer service experience.  Microsoft Global State of Multichannel Customer Service Report 
  • Once a customer leaves, for in five say they will never come back, and if they do, 59% say they will be less loyal. – SDL Global CX Wakeup Call Report 
  • According to a new PwC Survey, more than a quarter of the U.S. CEOs are increasing their spending on advertising this year. But the most valuable promotion will come to those who not only invest in winning customers by keeping them.

Okay, you now know some very intriguing statistics. So what are you going to do about it? Where do you begin? Moreover, who’s your audience?  Maybe most important of all, what do you say to these existing patients?  How are you going to increase your ROI and the effectiveness of your advertising? Continue reading Save Thousands On Your Marketing & Still Get Killer Results!

Ninja Video Marketing Secrets Revealed!

In an ever-changing world, business owners are seeing that video marketing increases engagement, conversions, brand loyalty, and provides a far greater customer experience. *

 

It was Sun Tzu that wrote (in The Art of War), “Thus those skilled in war subdue the enemy’s army without battle…. They conquer by strategy.” Video marketing is proving to be a formidable weapon in the daily skirmish for business dominance!

When you opened your clinic, you opened it to be triumphant!  Unfortunately, it’s not easy to have a successful clinic.  Prosperity requires a lot of energy, work,  diligence, and a strong yet engaging tactics.

What if you could increase the effectiveness of your email campaigns by nearly 20%? Does that seem like a bold and unrealistic claim? According to  Business2community.com, using the word “you” in an email subject line open rates of that email by 19%!  Further, according to Infographixdirectory.com, eight out of 10 website visitors who watch an online video view the advertisement in full, 26% looked for further information on the business and 15% visited that business.

How would your tactical tool case benefit from having such a weapon at your disposal? What an essential strategic component a 19% boost in your email and 80% ad readability be towards your goal!   Your promotional platform would be profoundly enhanced!

At the end of the day, your aim is to access as many viable and profitable options as possible. Your goal is to find the best marketing option which yields maximum influence and provides an excellent return on investment (ROI).

A well thought out strategy also requires that you continually remind your Video Marketing Secretscurrent patients that you are the best resource.  Like most doctors, you need to overcome patient anxiety concerns; which mean, you must put future patients at ease.  There are many patients that are completely unnerved by the cracking and popping. You must find a way to address that feeling and move past it as quickly as possible. Simple words on a page do not convey the same message as an empathetic voice on the screen!

*  According to Forbes, 59% of executives would rather watch a video rather than merely reading a lot of text.

Your video allows those people that don’t know you to engage and emotionally connect with you.

More importantly, your video marketing allows you to place emphasis on your unique and highly skilled services. For example, if you treat a lot of patients with fibromyalgia you should include brief videos from satisfied patients. Likewise, if your practice deals with chronic headaches and migraine relief, that too should be highlighted in your video.

Let’s discuss the readership within your advertising. According to Ragan.com, shoppers who viewed videos were 174% more likely to purchase than viewers who did not.

The statistics that we have been talking about are compelling and impressive. However, your video must have a very targeted message. You don’t want to play around with videos that are either so boring they don’t get shared or so vague they don’t connect with your viewers. Focus your video around clear objectives and calls to action.  Create an environment where patients know what they’re supposed to do and can easily take the next step.

The good news is that you don’t have to spend a small fortune to get exceptional quality videos. Current technology allows for a lot of options without a huge expense. In fact, depending on the model, your phone has impressive video capabilities.   All you would really need is a tripod and some basic lighting tips (available on YouTube).  You could then submit that video to a company who could do your video editing for a very reasonable price.

If video editing is your concern and your anchor, then allow me to introduce a brilliant company to you.   Like many of you, I am not very technical.  Many of my projects were being put off while I either learned how to do something or hired someone.

Learning how to do something, though self-gratifying, ruins your timelines. Unfortunately, the danger with hiring an unknown entity is that you have no assurance of the quality of their work. Without further ado, allow me to recommend **Fiverr.   The company’s platform is based on contracting technical professionals who will do your finish work for you. The work they do is provided in $5 “gigs”  (hence the name). More importantly, Fiverr features reviews from past clients of all the professionals that work for them — thus eliminating any trepidation.   So, you submit your video to a company like Fiverr who could do your video editing for a very reasonable price.

DreamGrow.com (which is a source of social media and content marketing information) states that videos can make you some serious money. Adding a product video on your landing page can increase conversions by 80%.

Continue reading Ninja Video Marketing Secrets Revealed!

The Secret to Business Success: Intentionality

Ultimately business success depends on human intentionality which is the most powerful evolutionary force on this planet.           — George Leonard

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 chiropractic 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 be 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” DC and town.

 “A goal without a plan is just a wish.” — Antoine de Saint-Exupéry

To become that local expert, you must approach every promotional effort with Business success with intentionalitythese primary objectives in mind: Every advertising piece should have a strong and compelling headline. Your content should allure and appeal to people’s self-interest. You must provide a tantalizing offer.  You must clearly define your unique stature in the area (your brand). And, you must provide testimonials for those prospective patients who don’t know you and need reassurance.

This is the point at which many chiropractors ask vital and telling questions:  “So, what do I say in my promotional pieces (other than the obvious — I’m a DC)?  How do I know who I’m supposed to reach? Because at this stage of my career, I treat everyone!

The questions listed above are extremely legitimate! I find that many doctors, though they excel at medicine, they don’t often have the time handle the marketing. What they do have, is an abundance of knowledge. Use your knowledge as currency, which if done properly, can reach and touch multitudes. Continue reading The Secret to Business Success: Intentionality

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

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

Digital marketing 101: Consumers buy doctors, not practices

Medical practice growth depends highly on a steady stream of new patients.  However, your patients don’t buy medical practices; they buy doctors!

On Friday’s Internet Health Magazine, author Ken Robbins writes an extremely informative article concerning the online challenges for healthcare marketers.  The title of the article is Digital Marketing 101: Consumers buy doctors, not practices.   The underlying current of the piece is that your medical practice growth depends on your communication.

There is tons of information available online, and patients are conducting plenty of their research before selecting providers.

  • 84% of consumers said they are likely to visit a provider’s website before booking an appointment,
  • with 61% saying they are very likely to do so. What they find there makes a massive difference in whether they book an appointment or continue looking elsewhere.
  • Consumers may also start by looking for what’s covered by their insurance.  While some practices can rely on the fact that they are in networks for a class of patients.  Those that want to use marketing to grow need to connect with doctors in the market.

The best strategy for practice marketers to reach these consumers is to build websites that contain individual pages for each clinician highlighting Continue reading Digital marketing 101: Consumers buy doctors, not practices

Warning: Is your practice in trouble?

No Chiropractor starts their practice mediocre; business success depends on navigating all obstacles!

 

Though every doctor (who owns a medical practice) we have ever met desires success. Many work more hours than they should!  Still, others attend multiple seminars to excel; they enroll in mountains of business success modules.  Have implemented every business strategy you learned?  Is your practice is in trouble?

This month an informative article appeared in the July issue of Chiropractic Economics.  The piece was titled “Warning sign: Know how to spot a practice in need of rescue.”  The article was written by

Chiropractic Economics’ editor-in-chief, Daniel Sosnoski, wrote this enlightening article.  He provides a unique insight into the concerns of his readers.  He writes that an advantage that small businesses have over large companies — they nimbly implement changes and execute strategies.

Nevertheless, that speed is relative.

Critical business decisions still require planning and take the time to develop. Is your practice in trouble?  The sooner the problem is spotted, the faster you will begin taking some remedial measures.

Do you know the warning signs of a practice in peril?

An empty waiting room is an obvious clue that things are amiss.  There are subtle indicators that can give you an early alert and spur you to take needed action—while there’s still time.

You know that patients in crisis need urgent help, and you can’t waste time with Is your practice in trouble?wrong approaches. In the same guise, a practice listing to port won’t be righted by a doctor flailing about in panic.  Practice management experts will consistently tell you they commonly see DCs doing exactly that when they enter a rough patch. A calm, steady hand and the right moves are what will save the day.

Causes for concern

We spoke with some “practice-turnaround” professionals to find out more.  Their experiences in helping DCs in trouble might resonate with those in similar straits. Continue reading Warning: Is your practice in trouble?