STEP 2 Know Your Customer Acquisition Cost (CAC)
Many practice owners want to grow their practice, but significantly underestimate the time and investment necessary to attract the volume of new patients they need to achieve their goals. How many hours a week do you spend planning your marketing? How often do you track the cost to acquire a new customer, and look at your marketing metrics to make decisions? Why your marketing budget is crushing your growth potential... Most PT owners are hesitant to spend money on marketing because they see it as an expense and not what it really is, an investment in generating more income to your business. What is the value of each new patient to you? Typically this is between $800-$1100 each new PT patient. Therefore, what are you willing to spend to bring in that revenue? Marketing becomes an expense when it fails to generate response, drive in new patients and drive in income.
Your focus should be on what is the average cost to acquire a new customer ?
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