Want to Increase Your Profits & Patient Loyalty?

There’s only one way to increase your profits; you need to identify and capitalize on those windows of opportunities that each client provides you.

 

A successful practice is the goal; why else would you work so hard?  Having happy patients is also a strong motivation.  Are you making your road to victory tougher than it needs to be?  Learn to identify your current patients’ buying signals and increase your profits.

The bigger question is, are you missing out on fortunate circumstances that often lift your practice to the next level?  You know, those subtle signs that have kept you from increasing your profits, additional procedures and referrals?

If you have answered yes to these questions, your solution may very well be found within this article.  Learn efficient and proven principles for tapping into your patient’s wants and needs — when they’re ready and desiring them!

As a medical professional, you know that there are three ways to grow your business. First, acquire more patients. Second, you do more business with the patients you already have. Third, do more work more frequently with the ones you have.

In the daily rush of building and maintaining a successful medical practice, we often miss faint signs.  These signs transform practices from a “one-and-done” clinic to practices that build their strength on patient loyalty.

Your goal needs to be one of creating an on-going resource as your patients’ lives unfold.  However, before you can be that resource, you need to know your patients. Don’t miss those indirect, yet vital clues that each patient provides.  It’s those clues that determine where they are in their specific life cycles and transforms a medical practice.

Traditionally, the accepted formula for building a lucrative practice consists of putting your nose to the grindstone from morning ’til night, and repeating the following day.

Well, that’s one method, but there is a better way.

Did you know that simply by increasing patient retention rates by 5% increases profits by 25% to 95% (this is according to Frederick Reichheld in a study for the Harvard School of Business)?

Also, multiple direct response advertising studies have shown the following:  Up to 95% of all ads written only target 5% of the intended audience.   Conversely, the probability of selling to an existing patient is 60-70%, while the probability of selling to a new prospect is 5-20%.

However, a superior plan for reaching success comes with learning how to identify where each current and future patient lies within their own unique life and buying cycles.

According to Sales and Marketing Magazine, nearly 80% of all people who inquire about medical procedures take action within one year (emergencies notwithstanding). Interestingly enough, they seldom do business with the practice they initially contacted. This means you (the practice owner) are educating your prospects to do business with your competition. Continue reading Want to Increase Your Profits & Patient Loyalty?

Having Trouble Getting Patients?

7 Proven Techniques for Successful Patient Attraction

 

Maybe it’s an overused expression, but patient attraction (besides providing superior medical service) is the cornerstone for building a successful practice. Let’s face it, if you can’t make your phone ring, your practice is in trouble.

Additionally, a large part of maintaining a successful clinic involves keeping the wolves away. What does that mean?  Every day when you open for business, your competitors are actively and aggressively hunting for your patients.

How are your competitors going after my patients, you ask? They do it through their advertising and marketing campaigns. In fact, your competitors may not even realize the chain of events started with a single ad.

Every promotional piece that goes out has been programmed with a selected target. This is a horrible analogy (but accurate), it’s like a heat-seeking missile.  It only has one job, that is to grab the attention of and to compel the reader to pick up the phone and call its maker.

Thus, if you live in an average city (where people will only drive so far to do business with you), whom do you think your competitor is targeting with their ad?

According to David Ogilvy (father of modern advertising), “The only purpose of advertising is to get a new client.

Again, every time your competitor releases a TV or radio spot, a flyer, or some coupons, they’re targeting your patients.  What are you doing to keep them away?   What are you doing that your competitors aren’t?  Are you upgrading the quality and quantity of your business?

Every business keeps its doors open because they attract a constant stream of new patients!  Medical practices are no different; unless you become a patient magnet, you will eventually have to close your doors.

Recently, author Rhonda Abrams wrote an exceptional piece for USA Today titled “Strategies: 10 rules for small business success.”  Ms. Abrams is a long time business development consultant and strategist provides great insight with robust data that should pay serious dividends for all medical practice owners.

She states that she has dealt with all different types of small businesses, and she’s Patient attractionlearned certain realities always apply.  These rules are keys to small business success.  Ignore these rules at your peril: “I’ve seen many new entrepreneurs fail because they ignored one or more of these business basics to be a patient magnet.”

Here are 10 of the most important “Rhonda’s Rules” for small business success:
Continue reading Having Trouble Getting Patients?

Are You Sick & Tired of Burning Thru Money With Weak Ads?

It’s not your advertising; it’s your content, it’s weak so your ads fail!  Learn 3 proven tips for creating a killer message.

 

Patient attraction is EVERYTHING in business! As such, you’re going to learn how to transform your clinic into a patient magnet via improved content marketing strategies!

The goal, however, isn’t to be good at content—it’s to be good at business because of your content.

Before proceeding much further, let’s define what content means from a marketing prospective.  According to the Content Marketing Institute:  “Content marketing is a marketing technique of creating and distributing valuable, relevant and consistent messaging to attract and acquire a clearly defined audience – with the objective of driving profitable customer action.”

Like every piece of targeted communication, the only job that content marketing has is to create behaviors among target audiences that benefit the business.

Interestingly, if you research content marketing on line, much of what is written is a very superficial and nebulous.  This means that many who write about content marketing don’t fully understand it themselves.  Hence, the lack of detail and nuance.

So, it’s no mystery that there is great confusion about the subject.  Often you find ethereal definitions describing “content marketing” as a means of communicating that elicits emotions in your reader.  For example, content marketing makes you laugh, makes you cry, makes you angry, etc.

Though it is true that good communication relates with it’s readers on multiple levels.  The purpose is to provide a deeper message that doesn’t necessarily focus on the product or service you provide but solves needs.

The ultimate goal is to attract more patients to your practice.  You want to be seen as the “go-to” resource for medical answers within your discipline.  To become a patient magnet you need to understand your patients.  You need to identify who, within your clinic, is your ideal target market, where do they hang out, what do they read, and so on.  You need to know things, like:

  • What details can you tell about your chosen target market?
  • Who are the top influencers in the markets your patients seek; for example, bloggers, websites, podcasts Content or social media giants?
  • Are you receiving email newsletters from the influencers in these markets?
  • What are the latest marketing trends regarding their [your patient’s]needs?

Only when you understanding their needs can you create interesting, relevant and compelling messages which speaks their needs.  This article is designed to teach you how to focus your practice’s message to achieve winning marketing strategies. Continue reading Are You Sick & Tired of Burning Thru Money With Weak Ads?

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!

10 Secret Benefits of Instagram for Your Medical Practice

How do you stay in front of your patients throughout every lives’ cycles?  Highly successful marketing requires that you stay in touch with your patients during the course of the year — enter Instagram.

 

Few doctors realize that the sales process has multiple levels of opportunity; even less (those who do realize it) do anything about it.  So how do you stay in front of your patients has their lives evolve?  Moreover, how do you do it cost-effectively, efficiently, and reach as many people as possible?  The answer may lay in an area you are currently overlooking, social media, specifically Instagram.

Incidentally, the multiple levels of opportunities are referred to as a patient’s unique buying cycles.  In this case, these cycles are considered secret benefits because to those doctors that can tap into these key and specific points, there are very lucrative benefits.

“There was a time when social media was considered by some as a passing fad. Something that “the kids” were using that business could never really benefit from. Over time, the skeptics were proved wrong. There are over 3 billion internet users—and over 2 billion of them have active social media accounts.”

Popular social platforms have become marketing giants, offering businesses valuable data about their customers and a (mostly) free way to reach them. The jury has spoken: social media for business is no longer optional.

Recently, Emily Copp wrote an excellent article for Hootsuite.com, titled “10 Benefits of Social Media for Business.”  For all those readers who believe that social media has no place in their marketing, please read on!

Ms. Copp points out that today, most of our social interactions are infused with visuals – snapping a quick photo to text to a friend, posting a selfie at a bar, or killing a few minutes scanning through newsfeeds filled with photos and videos.

The impact of the rise of visual content on social networks is most apparent on Instagram.  As a result, many medical practices are scrambling to understand how to best use Instagram benefits.

Instagram’s rise has been astronomical – and understandably so.  We’re visual creatures, which is why content like photos, videos, and gifs have such great engagement rates.

And Instagram is so huge because building a social network that connects people solely through visual elements is a powerful way to capture – and sustain – our attention.

Brands and marketers have raced to capitalize on the immense growth of the social platform and many are successfully learning how to sell on Instagram.

Brands that excel in mastering social commerce trends like this know something that companies who flop don’t: Instagram photos convert.  Additionally, you’re not getting the full benefit of Instagram because you don’t know the real secret to using these photos for marketing! Continue reading 10 Secret Benefits of Instagram for Your Medical Practice

8 Steps for Increasing Your Medical Practice’s Profits!

Are you missing those key signs that have kept you from increasing your medical practice’s profits?  You need to learn more effective principles for tapping into your patient’s buying signals!

 

In the daily rush of building and maintaining a successful medical practice, we often miss those subtle signs that transform a practice from merely surviving to one that is thriving!  Too often we miss those vital signs that each of our patients send off that determine their specific purchase cycles, and transforms a medical practice’s profits.

Traditionally, the generally accepted formula of building a lucrative practice has consisted in putting your head down and grinding from morning ’til night, and repeat the following day.

Well, that’s one method…

However, a superior plan for reaching success comes with learning how to identify where each current patient and future patients lays within their own unique buying cycle which increase a medical practice’s profits — below are eight effective business strategies that will increase your practice’s profitability; but more importantly, they will build deeper and better patient relationships.

According to Sales and Marketing Magazine, nearly 80% of all people who inquire about medical procedures take action within one year (emergencies not withstanding). Interestingly enough, they seldom do business with the practice they originally contacted. This means you (the practice owner) are educating your prospects to do business with your competition.

Why does this occur? Often it is because the contact person (aka: the gate keeper) at the medical office defaulted on their responsibility of influencing the prospective patient. Very often it’s passively assumed said prospect will remain loyal to their practice because they provided friendly service; instead, besides being friendly, they need to do everything possible to make sure they actively influenced these prospects to do business with them…   No one is teaching these gate keepers how to engage that future patient with confidence building questions!

Ironically, both the problem and the solution can be found in the same place.    Medical practice's profitsIn fact, many medical practices find themselves falling into one of two mindsets seems that are perpetually be in play:  1) Either the practice develops some sort of an unwritten, collective philosophy that all prospective patients share the same qualities, interests, needs, lifestyles, and time-lines, etc.  Or, 2) It never occurs to them that each patients needs are ever evolving in their purchasing cycles.

It goes without saying that either of these levels of “observation” can have disastrous affects on both their individual income and leisure time, and the total prosperity of the practice!

What if you knew exactly when a patient was in the market for another procedure?  How valuable would it be, for example, if your patient told you when they joined a gym or sports team so you could ease their aches and pains?  The sooner the practice begins to qualify it’s current, past, and prospective patients and take actions accordingly, the better off the owners of the practice will be! Continue reading 8 Steps for Increasing Your Medical Practice’s Profits!

Danger: Poor Patient & B2B Marketing Will Kill!

If your business-to-business and patient marketing message isn’t progressing to accommodate your their journey, you’re throwing your money away!

 

By all standards, strong and compelling  business-to-business and patient marketing will make or break your practice’s relationships more than most company owners realize!

Recently Kimberlee Morrison of Adweek wrote an enlightening review on the essential subject of rethinking the patient’s experience in order to enhance the patient/service provider relationship and subsequently grow and deepen one’s busines-to-business relationships and campaigns.

The influence of social media continues to drive big changes in the customer journey and marketing funnel. Some of the main changes such as the use of multiple devices by customers and the desire for always on customer service have created challenges for marketers.

A report from LinkedIn, titled “Rethink the B2B Buyer’s Journey”, written by Sean Callahan, examines similar changes in the B2B (business-to-business) market and provides suggestions to improve your business.

The report focuses on the changes in relationships between buyers, salespeople, and marketers. The survey included more than 6,000 participants globally, and gives insight into the buying process, and changes that need to happen in both social and marketing content.

Since vendors have focused more on customer service in recent years, buyers have rewarded this presence with increased faith. LinkedIn found that 28 Changing your B2B marketing messagepercent of buyers polled rate their relationships with vendors as very good, and 56 percent rate them as good. What’s more, when assessed over time, only three percent of respondents believe their relationships with vendors are in decline.

The research found that buyers need a variety of content to help them make their purchase decision. On one hand, they need basic product information and demos to understand the product, but they also require thought leadership and other helpful content to help buyers determine where the industry is headed. The implication for marketers is that they must have their message present throughout the full funnel, from awareness and thought leadership content in the upper funnel to data sheets and demos in the lower funnel. This is how to assemble a complete marketing program. Continue reading Danger: Poor Patient & B2B Marketing Will Kill!