Gems Inside
5. Recently Unearthed on Planet Gems
1. How to Build an Iron Wall Around Your New Patients and Retain Them for Life
6. How to Create Happier Patients and Make More Money With WHALYAs!
4. Sucking Sound Coming From Your Hygiene Team’s Production
7. How Billboards Added $114,397 to Our Practice
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need a billboard?” but rather “Where and how fast can I get one?” For the answer to that question, contact your Certified GG12 Coach.
Finally, you can improve the number of new patients from ALL sources simply by picking up your phone live and scheduling appointments for new patients when THEY call and not just when your team happens to be at the office. Over 26 percent of your prospective new patients call to inquire before work, after work, nights, weekends, and holidays … when nobody answers your phones. My Ultimate Phone Concierge company can answer and SCHEDULE NEW PATIENTS for you when your team is unable to pick up the phone. www.UltimatePhoneConcierge.com
Note from the Gems Guy: First, HUGE KUDOS to Leslie for testing and deploying several billboard advertisements. Billboards are one of the easiest (just about no work!) and fastest ways to bring new patients into your practice. If you’ve been on Planet Gems for a while, then you’ve heard me say we’d like to be able to acquire new dental patients for an average of roughly $250 per acquisition, across all media. Leslie invested $27,000 in billboards, from which she acquired 61 new patients, for an acquisition cost of $440 each. Since this number is higher than we’d like, it’s important to look at the ROI. $115,000/27,000 = 4.3:1. In the first year, we hope minimally for 3:1. In years 2, 3, and beyond, we’d like to see at least 5:1 ROI. All in all, Leslie is getting a decent result … but I’d like to see even better results in the future:
A) Drop the new patient acquisition cost down to $350 or less, and
B) An ROI in the first year of 4:1 or even 5:1. To continue to improve results on this campaign, I would recommend testing different ad copy, special offers, etc.
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