Tired of Your Ineffective & Expensive Promotional Efforts?

If you don’t know what to say or who you’re targeting, you’re shooting blind and your ads are in trouble.  This article teaches you   proven tips for producing better ads!

 

There isn’t much debate when it comes to business success; if you can’t communicate effectively your practice will suffer!  All of your promotional efforts provide you with exceptional opportunities to connect and impart your knowledge with your patients.  As you read on, you will learn proven strategies for producing better and more profitable ads!

Let’s face it, everyday medical practices close their doors and doctors must then practice their skills for a medical group that isn’t theirs, that has a different vision and a contrasting flow.  There are many reasons why this occurs, but clearly two of the biggest and most often sited are the lack of sufficient patients, and the practice’s inability to compete against rival doctors’ daily marketing to their existing patients!

Universally, every business school around the world will teach you that there are three primary components to business success. They are: increased traffic, convert prospects into patients, and retain those patients as long-term continual business opportunities.

A key element to these three components is that everything you say to them [patients] must draw them towards you.

If the content of your message is off your entire promotional strategy is in jeopardy. Further, you can’t possibly write compelling content if you don’t know what your patients want.

If your practice can’t communicate effectively, your patients’ willingness to stay with you is tested. Every day, with every ad, your competitors are attempting to woo your patients away from you. The only purpose of advertising is to attract more business. Where do you think that business comes from?

The best and most profitable business comes from people who already believe in your service!

Recently, author Dave Delaney, wrote a great article for The Tennessean (part of the USA Today network), that speaks directly to the specific needs of medical practices!

Mr. Delany writes that “…using a blog can drive a considerable amount of traffic to Producing better adsyour site, which can result in more revenue and a stronger bond with your patients and your business contacts (your venders) and their staff.”

Mr. Delaney’s statement goes right to the heart of understanding your patient’s wants and needs. An effective method for figuring out what each patient wants is to sort them by ailment. If you find that the majority of your patients see you for TMJ, plantar fasciitis, or breathing problems, etc. that is what you will write about in your blog. Continue reading Tired of Your Ineffective & Expensive Promotional Efforts?

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

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!

Emotional Content Marketing: Tapping Into the Psyche of B2B Buyers

If you desire success with your clients and patients, you must apply emotions within your marketing content!

 

In a recent and very enlightening article, written by Wendy Marx, for business2comunity.com, titled Emotional Content Marketing: Tapping Into the Psyche of B2B Buyers she points out that the approach with which a client is contacted is makes the difference between long term success and a single transaction.

She states that when it comes to business to business (B2B) buyers, you may think that a more calculated, technical approach to content marketing should be used.

Is that true?

Ms. Marx checks out why you need emotion in your B2B marketing, what types of emotional responses to elicit, and how to make your content more emotionally appealing.

The big question is: Why B2B Buyers Need Emotional Content Marketing Techniques?  The truth is, if ever there was an occasion to use emotion in content marketing, it’s with B2B buyers. Why?

  • Because the sales process for B2B buyers takes 22% longer than it did seven years ago.
  • Is this because today’s buyers are more indecisive? Not at all.
  • In fact, 82% of B2B buyers think that everyone is pretty much selling the same item. The competition is huge.

Continue reading Emotional Content Marketing: Tapping Into the Psyche of B2B Buyers