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

Important Lessons – How Online Marketing Won 2016 Election

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

 

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

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

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

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

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

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

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

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

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

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

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!