Busting Myths with Marie Olesen
Separating Fact from Fiction
Myth #3: The bulk of your marketing budget should be spent attracting new patients
Busted: You need a strategy for the patients that know you and the consumers that don’t. A two-pronged approach meets the needs of visitors on your website or those viewing your profile on someone else’s site.
Many practices appear to be increasing spends on third-party consumer sites. I think this is occurring because the practices’ own websites do not provide consumers with the content and features they need to complete their buying process. The consumers leave the practice sites and head back to the greater web to find what they need and potentially to find another provider.
As more consumers use ratings and reviews to vet choices, you can let lower conversions on your website mislead you as to the problem. It isn’t necessarily that you have too little traffic. It’s more likely that they’re not finding the trusted, authentic content they need to make an appointment.
Think about your patient base. What percent of your revenue do you “earn” through great patient experiences that result in retention and referral? It’s probably a lot, at least 75%.
Strong retention and referral reduces the need to invest a substantial portion of your budget attracting people who’ve never heard of you on sites you can’t control.
We founded RealPatientRatings™ because we believe practices need 100% verified ratings and reviews to increase traffic and conversions with content valued by search engines and consumers.
Rather than going outside for greater investment in lead generation on third-party sites, you need to stay home and fix up your house! You need strategies that effectively engage and convert visitors on your practice website. You need to focus on vendors with strategies that help make your website stronger.
Think of your website as your home. The consumer websites where you have a paid presence are effectively vacation rentals. Using this analogy, it’s clear that most of your time and your financial investment should be in the asset you own, your home. You want to make it more valuable with a lot of curb appeal.
Most of your guests at home are people you already know and their friends and family. You want to provide a wonderful place to engage them and to encourage them to come back often. These guests equate to the 75% plus of your retention and referral patients. It includes new patients you attract on your own through social media, word of mouth and local activities.
Now to your vacation rental. It’s a smaller, but important part of your life. But, because you don’t own the property, there is always a degree of risk. Your expectations about availability, pricing or last minute changes are not within your control. Someone else is making decisions about how to best optimize the value of their property. You are helping them achieve their goals with the rental income you provide while your home could be becoming outdated and reducing in value.
A smaller number of new acquaintances (25% or less) connect with you via the rental property. You want them to have a great experience, but you shouldn’t spend so excessively that you won’t be able to maintain your primary home or entertain the majority of your friends and family.
Looking specifically at ratings and review content, let’s translate this to your owned web assets and those that you rent from others.
The Myth is Busted
Given these percentages and the control aspects, where is the best place to make your investments? Where can you predict the best ROI and long-term value?
The bulk of your marketing budget should be spent on the largest segment of your successful practice, your loyal patients, their friends and family. The strategy includes quality staff, strong business processes and an array of activities and communication that generates continuing interest and return visits.
We recommend a two-pronged approach that positions your practice website as the primary asset for success with a smaller secondary budget for external sites.
To discuss more, please call our team!
1.800.267.1228, ext. 1