There is never a traffic problem…only an offer problem.
Have you heard this before?
Think about it for a second, there are plenty of people searching for your services online every day…they’re just not seeing, or selecting, your offer.
Solid digital marketing strategies solve the offer problem and bring in new patients at a low cost of acquisition.
Way to Boost Revenue in a Regenerative Practice
Let’s first look at why a doctor needs an offer and how that offer may bring in new patients at a reasonable cost of acquisition.
The doctor offers regenerative treatments that help relieve pain, regenerate tissue, help the body heal itself, combat the effects of aging and have many aesthetic benefits. This is great but how will potential patients even know that the Dr offers these treatment options?
The Drs marketing team says that offering a free consultation is one of the most effective marketing strategies used in many practices. This consultation may be for a complete diagnosis to isolate the source of the pain and determine a treatment plan, or an aesthetic procedure like a PRP facelift or wrinkle reduction procedure. The average revenue from one of these stem cell therapy procedures is $8000 so the Dr knows that 4 or 5 new patients per week will be a big boost to her revenue and profit. So, a free consultation sounds like a great idea. The Dr knows her team can sell new patients at a high rate when they are in the office.
All the Dr must do in order to be successful is to get people to take advantage of the free consultation. But, how do you do this?
Creative Ways to Increase Patient Volume
Marketing strategies for regenerative medicine often include several actions on various traffic channels that present your offer to more people in need of your services on an ongoing basis. We have been able to generate 16 to 30 new patients monthly for each practice that we work with a well-designed website and SEO alone. If you consider that many of the doctors that we work with are in the field of regenerative medicine and have an average revenue per patient of $5000 to $8000 – that’s about $30,000 to $40,000 in new revenue per week from our efforts. Adding more channels adds more traffic, more free consultations, more new patients, revenue and profit.
The channels may consist of:
- Search engine optimization to get you found well organically
- Content marketing to get people with medical issues to read a useful piece of content that addresses their individual problem while positioning you as the authority
- Online advertising to reach more people
- Email follow up on leads generated
- Retargeting or remarketing to entice those people that have not yet converted to come back to your site for more valuable information and provide you with the opportunity to convert them.
Did you realize that on average only about 10% of people that visit a website convert on the first visit? This is one of the reasons that a full digital marketing program is essential to a successful patient acquisition strategy and growing your medical practice.
Digital marketing helps you move people through your sales funnel. I know you’re a doctor and may not really think of having a sales cycle, but you do have one.
We’ll design your sales funnel and drive traffic to it and move the right percentage of visitors through to becoming your patient.
The funnel is 3 part.
- Part one – Awareness. We need to make people aware that you exist when they have the need for a doctor. We can do this several different ways –depending on the situation and the channel, we can use:
- Search engine optimization
- Social media
- Primary research
- Digital books
- Part two – Evaluation. We need to get the prospect to realize that you are the right doctor to treat his/her problem and turn that person into a consultation. We do this with a multitude of information including:
- Lead Magnets – Applicable and valuable info
- Free consultation
- Educational resources
- Part three – Conversion. We entice potential patients to become your actual patient.
Judging the success of your digital marketing is essential. Here are the metrics that we suggest:
- Part one – or top of funnel
- Offer awareness – do people know that you exist
- Retargeting list growth
- Site engagement rate
- Number of inbound links generated
- Traffic by channel
- Part two – evaluation or middle of funnel
- Number of leads/consultations generated
- Email list growth
- Retargeting list growth
- Email click through rate
- Part three – Conversion or bottom of funnel
- Number of qualified appointments set
- Offer conversion rate
- Email open rate/click through rate
- Average customer value
- Retention rate (depending on the type of medical practice)
- Buyer frequency (again depending on the type of medicine that you practice)
In order to define the market that we must target we start with outlining your typical patient. We build an entire persona on this person and that leads to the way(s) we actually target these people online. You may have several personas that we need to define together.
Marketing strategies for medical practices can include many more items. If you feel like a good digital marketing strategy would help your patient acquisition efforts and to grow your medical practice significantly, call us and talk with one of our certified digital marketing professionals. Let’s lower your cost of patient acquisition and grow your practice!