Marketing

Optimize Your Marketing

In today’s economic climate a great deal can be said for the benefits of marketing effectively. There are many mediums for marketing a practice – referrals from existing patients/clients are normally the best and most cost effective means of getting new patients/clients. External marketing, such as the Internet, business directories, new resident mailings, bus benches, and even the local newspaper, radio and TV, has worked for some. Some form of one or more of these has proven to be successful in various markets, but not all of them are effective in all markets. Given all this, it is vitally important to know how your new patients/clients are finding out about you, and based on this, you should focus your marketing dollars in the most effective areas.

This brings up the topic of this Hot Tip.

Somewhere on your new patient/client form there should be a little line that says, “How did you find out about our practice?” If you don’t have this line on your new patient/client form, you should institute it right away. Some offices have little check boxes that mention their various marketing activities, and others just offer a blank line to be filled in. However you do it, the purpose of this is for your new patients/clients to tell you which of your marketing tools have been most effective. This is vital information for your promotional and marketing activities, only as long as you do something with it. Unfortunately, many doctors don’t use this information properly.

In fact, the last poll taken in our online journal “The Practice Solutions Magazine”, showed that 54% of those responding said that they “did nothing” with the information that they got from this question on their forms. At the same time, our current poll shows 43% stating that they are increasing the amount of marketing they are doing currently. The poll data seems to support that “marketing for new patients/clients” is important to practice owners but the importance of tracking effectiveness of marketing seems to be missing.

Let’s take up effectiveness of marketing as a running theme and discover how it might be used. A simple starting point would be to actually use the data you have already gathered by doing a quick breakdown of where your new patients/clients came from for the past 6 to 12 months. Assign your front desk person the task of reviewing the files of all your new patients/clients and tabulate their responses to the question concerning what brought them to your office. Once the tabulation is done, have this staff member provide you with a summary of this information – i.e. “45% came from referrals, 20% came from new resident mailings, 10% from Yellow Pages ad, etc.” Use the results from this summary and locate the area(s) that seem to be providing you with the most new patients/clients. Do not be surprised if “referred by a friend or relative” shows up as the number one item – in fact you should be surprised if it doesn’t.

At this point, inspect your marketing budget. How much do you spend to make sure people know how to find your practice? How much are you spending on ads and how many new patients/clients came from that? What kind of materials do you have to stimulate referrals? Examine each area that you are spending your marketing dollars on and what your return is on those dollars. While taking into account the cost effectiveness of each activity, you’ll want to invest more heavily in the area(s) that are giving you the most return. For example, if “referrals” is your number one draw, and the local radio ad is not producing much, how can you shift your advertising dollars into more support activities for referrals? As an example, creating a “Refer a friend or family member” card might be one way to start.

To summarize:

  1. have a means to know where your new patients/clients are coming from;
  2. don’t ignore this data – tabulate and evaluate the information;
  3. invest your marketing budget in the most effective areas based upon the data you gather;
  4. regularly re-assess this information and adjust your marketing plans and investments accordingly.

If you do the above regularly and religiously, you’ll find a steady increase of new patients/clients coming in your door. The first priority is always to strengthen the area that is working best, before looking to add additional avenues.

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We offer any practice owner the opportunity to receive one of the below gifts in exchange for a 15 minute, anonymous phone survey (at the date and time of your choice) that will assist upcoming publications by The Practice Solution Magazine. As always, we are very grateful for your help in making our publications better.

  • Phone Consultation (1 hour) on a management topic of your choice. Subjects include: staff management, hiring, marketing, financial issues, how to set fees, increasing net profit etc.
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