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

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

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

BUSINESS DOMINATION: Stand out and separate from the crowd

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

 

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

 

 

*Storyneedle.com

 

 

 

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