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Tag: Practice Growth

Anything relating to methods used to grow a practice.

  • Why Small Practices Stay Small & Big Practices Get Big

    Why Small Practices Stay Small & Big Practices Get Big

    Have you ever seen a dumb guy with a big practice or a really smart guy who’s struggling to grow?

    I have uncovered the key difference and would like to share with you right now so you can decide what size practice you want to have.

    Small practice owners are typically run by a single practitioner with one or two support staff. They may be providing excellent care, but they serve a limited number of patients compared to larger practices, which have multiple locations and a substantial number of staff members.

    Interestingly, both small and large practices are driven by the same purpose: helping people while making a good living.

    However, the mindset of the practice owner significantly impacts their ability to grow the practice and achieve their desired lifestyle.

    I discovered that when asked, small practice owners and large practice owners have vastly different goals.

    Small practice owners have goals to take more time off, spend more time with family, take more vacations, and generally be out of their practice away somewhere.

    This desire stems from the stress of having to manage all aspects of the practice, including tasks they may not enjoy, such as marketing, collections, and billing.

    Large practice owners have goals around expansion ideas such as adding more services, hiring more staff, growing marketing, adding additional locations, etc. They are looking for ways to spend more energy on their practice.

    Interestingly, when you survey them the large practice owners have far more vacation and off time than the small practice owners do even though it’s not their primary goal.

    Large practice owners also consistently invest more and more in marketing. They’re always stretching their budgets and trying new things.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call.

    Find out more at:

    TheCustomerFactory.com

  • From Stress To Success: How Million Dollar Practice Owners Do It

    From Stress To Success: How Million Dollar Practice Owners Do It

    I have seen dozens of practice owners build their practices to the million-dollar level and well beyond while living a low-stress lifestyle which most would envy.

    Several generously shared with me how they set and achieved their practice growth goals.

    All of them stressed that attaining goals requires a clear strategy and consistent action. Here are the steps these top-producing practice owners recommend:

    1. Set exciting and realistic goals: As the practice founder, it’s your responsibility to establish big, exciting goals that will motivate you and your team to overcome obstacles. Ensure these goals are ambitious, yet achievable.

    2. Work on goals daily: Goals are not suddenly achieved at the end of a year. They are achieved minute by minute in your daily actions.

    3. Celebrate wins and learn from setbacks: Too many people use setbacks as an excuse to shy away from their original goals. It’s better to acknowledge and celebrate achievements along the way and convert every setback into a learning experience. No single win makes you, and no single lost breaks you.

    4. Ensure goals are personal and meaningful: Make sure the goals you set are truly your own and not influenced by external expectations. Goals should be fulfilling and aligned with your values. Envy is not a good basis for your goal.

    5. Share your goals with others: Publicly sharing your goals is courageous as it will create a sense of accountability. This can help you stay committed and focused on achieving your objectives when the going gets hard.

    6. Communicate more, and advertise more. Almost every practice growth goal involves reaching and helping more people. That means building an ever-expanding marketing program.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call.

    Find out more at:

    TheCustomerFactory.com

  • The Reason Why Your Marketing Campaigns May Be Failing

    The Reason Why Your Marketing Campaigns May Be Failing

    Are you always looking to keep your winning marketing campaigns fresh, interesting, and new? Surprisingly you may be doing far more harm than good. Before you make another change to your ads read the below!

    Recently I had a healthcare practice owner client tell us that he’d never done more than 75 new patients in a month. He was hoping we could help him reach that goal and exceed it.

    Of course, if I’m telling you the story then you know we did hit that goal and exceeded it a few months later.

    Then came the most surprising request I’ve ever gotten from a client:

    He asked us to change the campaign completely for the new month because he wanted to make sure it stayed “new” and “fresh” and besides he was tired of seeing the old ads himself and figured everybody else was tired of them too.

    While there is the truth that prospective new patients may go “blind” to seeing your old ads too many times, there is a deeper truth in that you only make changes to the campaign based on what the data is telling you.

    In a case where you are seeing highest-ever production, you leave it alone. If it’s winning, let it ride!

    However, it is human nature to want to change things. Some of the worst offenders are marketers who, when they’re faced with a campaign that is winning and running on its own, feel like they have to be “doing something” in order to justify their positions.

    In the marking business, it is a well-known joke that an idle marketer is the biggest danger to a successful campaign.

    The moral of the story is that your marketing is not for you, it’s for your prospects. Only their opinion matters. A pro knows to curb the instinct to over-adjust the campaign as you might accidentally kill the goose that’s laying the golden eggs!

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call.

    Find out more at:

    TheCustomerFactory.com

  • How To End New Patient No-Shows (Hint: It’s Not Your Marketing)

    How To End New Patient No-Shows (Hint: It’s Not Your Marketing)

    Joy! The prospective new patient responded to your marketing and set an appointment but when the time came they were nowhere to be found.

    What went wrong and more importantly how do you reduce or eliminate no-shows in the future?

    Detailed research shows that even with identical marketing campaigns one practice can achieve an 80% or 90% show-up rate with new patients while another might only see a 5 or 10% show-up rate!

    With paid marketing the initial relationship is based almost completely on the skill of the person doing the scheduling.

    The most effective new patient schedulers accomplish the following when scheduling a new patient:

    1. Hope.

    Empathizing with the patient and assuring them that they have made the right decision in contacting the practice and that there’s a good chance something can be done to improve their condition.

    2. Authority.

    The scheduler talks up the credentials and reputation of the practitioner so that the prospective new patient views them as a type of celebrity and feels fortunate to have an opportunity to meet with the doctor.

    3. Scarcity.

    By offering limited appointment slots, they increase the perceived value of the appointment and thus the likelihood of patients attending and keeping them.

    4. Curiosity.

    This is established by carefully not answering the person’s questions on the phone call but rather assuring them that all their questions will be answered during the office visit. Psychologically, the need to have questions answered is a powerful motivator.

    5. Friendliness.

    By generating sincere rapport with the prospect so that by the end of the scheduling conversation the prospect feels that they have a new friend already at the practice.

    It’s all taught in the New Patient Scheduler’s Course put out by The Customer Factory exclusively for clients.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call. You could have new patients coming in as soon as this time next week.

    Find out more at:

    TheCustomerFactory.com

  • Using Einstein’s Method To Evaluate Your New Patient Campaigns

    Using Einstein’s Method To Evaluate Your New Patient Campaigns

    When asked, “Is your marketing working for you?” the most common response from practice owners is a sheepish, “I’m not sure.” Who can blame them for being uncertain when there are so many factors and potential confusion about how to evaluate a new patient marketing program?

    Here is a simple framework that has been used to estimate the success of thousands of new patient marketing programs in order to determine if they are being financially successful for the practice owner.

    This evaluation framework is called the “Einstein Method” because it involves modeling the campaign as a thought experiment. This is much the same way that Albert Einstein could sit in his office and tease out the secrets of the universe.

    If it was good enough for him then it should be good enough to help us with our new patient marketing!

    Start by determining the average case value for a patient in the first 90 days or on the first visit. Next, calculate the cost per lead and the number of leads generated per advertising spend. Estimate the percentage of leads that will become patients.

    For example, if the average case value is $2,500, and $50 per day generates 30 appointment requests with a 30% conversion rate, that would result in nine new patients worth $22,500 in gross revenue.

    The monthly ad spend would be $1,500. If you pay a marketing company an additional $2,500, the total investment would be $4000.

    The monthly ROI (excluding operational costs) would be $19,000.

    Adjust the numbers to estimate low, medium, and high scenarios.

    Then run all of your new patient marketing campaigns through the same process.

    If after this evaluation a campaign is profitable, continue running it. If it’s not then modify or cancel it.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call. You could have new patients coming in as soon as this time next week.

    Find out more at:

    TheCustomerFactory.com

  • Facebook VS. Instagram: Which is Best For Getting New Patients?

    Facebook VS. Instagram: Which is Best For Getting New Patients?

    Facebook and Instagram, although both platforms are owned by the same company and have an integrated ad system, they function very differently when it comes to new patient acquisition.

    Both platforms have sizeable user bases and allow a practice owner to target just the people who are most likely to become new patients.

    Just because Instagram has a younger average demographic doesn’t change the fact that you can target only the older people who are using it.

    Comparing the two, Facebook is more effective at providing a consistent flow of new patient requests, reaching a larger audience, and maintaining that flow over time. It is the workhorse of a successful new patient campaign.

    On the other hand, Instagram tends to have a lower volume of new patient requests and is generally more expensive per patient.

    However, Instagram users are more likely to show up for appointments and accept care, with less effort required for scheduling and follow-up.

    The reason behind this difference could be the nature of the platforms themselves. Instagram focuses on visuals and actions, with users sharing their activities and experiences, while Facebook leans more towards sharing thoughts, opinions, and personal updates.

    So, should you abandon Facebook advertising and focus solely on Instagram?

    The answer is no.

    The best approach is to find a balance between the two platforms, maximizing Instagram’s potential and supplementing it with Facebook advertising.

    A crucial tip for running ads on both platforms is not to use the integrated “cross-post” button in Facebook’s ad manager. Instead, create separate campaigns tailored to each platform’s unique format and requirements. For example, Instagram ads do not have headlines so they have to be written differently.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call.

    Find out more at:

    TheCustomerFactory.com

  • 10X Your New Patient Referrals With These Insider Tips

    10X Your New Patient Referrals With These Insider Tips

    Every successful patient has the potential to generate multiple referrals. Unfortunately, most practices only generate 10% of their potential referrals.

    Here’s how the top practices make millions by consistently getting their happy patients to enthusiastically send their family and friends.

    The most important thing to know about generating more referrals is:

    1. The more you ask, the more referrals you receive. Make asking for referrals a routine part of your office interactions. Train your staff to request referrals in a natural and comfortable manner. The frequency of asking for referrals matters more than the exact phrasing. Odds are you are not asking nearly often enough.
    1. Automate the referral process: Integrate the referral process into your office’s daily operations. One fantastic way is to have an automatic text and email sequence that goes out when a patient is marked as happy in your database. Simply prompting them for a referral at the right time is half the battle.
    1. Promote new patient successes: Sharing success stories of your patients can stimulate referrals. Utilize mailing lists, social media, or even display posters in your office showcasing successful patient outcomes. By highlighting how your practice has helped patients overcome their challenges, you encourage others to think of friends or family members who might also benefit from your services.

    Remember, the key to generating more referrals lies in consistently asking for them, automating the referral process, and promoting your practice’s success stories. Following these basic strategies will help you attract more referrals and grow your patient base without relying only on costly advertising.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call. You could have new patients coming in as soon as this time next week.

    Find out more at:

    TheCustomerFactory.com

  • Why Practice Owners Regret Using a 3rd Party Scheduling Service

    Why Practice Owners Regret Using a 3rd Party Scheduling Service

    Outsourcing appointment scheduling to third-party services may initially appear as a convenient and cost-effective solution. However, numerous practice owners have come to regret this decision due to the negative impact on their reputation and patient relationships.

    The most significant issue with third-party schedulers is the potential for misrepresentation of your practice. As the first point of contact, these interactions are crucial in shaping a potential patient’s impression of your practice. Often 3rd party schedulers’ unfamiliarity with your practice’s culture, location, and demographic may lead to misunderstandings, awkward interactions, and an inauthentic experience for your patients.

    For example, 3rd party schedulers don’t know simple details a local would know. “Are you next to the Chic-Fil-A?” is a question that would leave them stumped.

    Patients may perceive these shortcomings as indicators of poor service or unprofessionalism, harming your practice’s reputation before the patient even walks through the door.

    By contrast, investing in your own in-house scheduling staff allows you to maintain control over your practice’s representation and ensure a high standard of service. Properly trained in-house staff will be familiar with your practice’s culture, location, and demographic, providing an authentic and seamless experience for your patients.

    Factually, your own staff will always be more successful at starting that relationship with a new patient.

    Practice owners should focus on hiring and training their own in-house scheduling staff to guarantee an authentic, professional, and consistent patient experience. This strategy not only protects your practice’s reputation but also sets the stage for long-term success and growth.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call.

    Find out more at:

    TheCustomerFactory.com

  • Discover The Power Of Reactivations & Skyrocket Your Practice

    Discover The Power Of Reactivations & Skyrocket Your Practice

    Reactivations are a popular concept, but many people struggle with how to approach them effectively.

    Reactivations refer to reconnecting with individuals who have previously been under your care, regardless of how long ago that may have been. It is crucial to compile a comprehensive list of these past clients. Reducing list size reduces your results.

    By maintaining a large list of past clients, you open up more opportunities for reactivation. Even if someone initially sought a service before, they could still be interested in your current offerings. When deciding on a method to reach out to these individuals, consider email, text, letters, or bulk mail.

    Personal communication is often the most impactful, but bulk communication can also be successful if well thought out. It is crucial to provide a reason for past clients to reconnect with your business, such as offering a promotion or special deal. Text messaging, bulk mail, and email campaigns can all be successful if executed correctly.

    One low-cost option for reactivations is a letter-writing campaign. This can involve having staff members write personalized letters to past clients. These letters do not need to be long but should be genuine and engaging.

    Whichever method you choose, consistency is key. Keep reactivations as an ongoing part of your practice, and make sure to track your progress. Additionally, document your reactivation procedures to make them easily accessible and teachable to your staff.

    In conclusion, reactivations are a powerful way to generate new business opportunities. By maintaining a large list of past clients and implementing a consistent reactivation strategy, you can create lasting success for your business.

    Of course, there are many more things to know in order to create a consistent flow of qualified new patients for your practice.

    To save time, many practitioners choose to partner with my agency, The Customer Factory.

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call. You could have new patients coming in as soon as this time next week.

    Find out more at:

    TheCustomerFactory.com

  • 15 Minutes To Freedom: How Written Procedures Can Revolutionize Your Practice

    15 Minutes To Freedom: How Written Procedures Can Revolutionize Your Practice

    Practice growth gurus preach that you need written procedures in order to grow. Here’s how you can do it almost effortlessly in 15 minutes a day.

    It is common business wisdom that the key to gaining freedom in your practice is transitioning from working IN your business to working ON it. This is done by establishing written procedures for every important function in the entire business.

    Written procedures eliminate the need for lengthy verbal explanations and repeated training sessions. It makes putting a new staff person on the job a breeze. Just hand them the procedures and let them study them while you go do other things.

    Even knowing this, most practice owners never create procedures because of the sheer amount of effort involved.

    However, there is a 15-minute-per-day method that you can learn.

    A. Locate on your phone any app that makes audio recordings. Get familiar with using it.

    B. Open a Google Docs folder online. You don’t have to use Google Docs, but it does need to be something browser-based.

    C. If you use Google Chrome install the “Voice In” extension – this is an excellent (and free) voice dictation app that lets you quickly voice dictate on your laptop.

    Whenever you find yourself explaining something to a staff person simply open up the audio recording app and record the instructions (procedures)that you are giving.

    Later at your desk, open the online “company policies” folder and create a new document about the topic. Click the Voice-In microphone on the top right of your browser bar. Playback the audio and it will appear as text in the document. Clean it up as needed, date it and you now have a written procedure!

    Now repeat!

    Want to know how to really expand your practice?

    To find out if our marketing program is a good fit for your practice visit our website and book a 15-minute Discovery call. You could have new patients coming in as soon as this time next week.

    Find out more at:

    TheCustomerFactory.com