Secrets Of Practice Profitability Part 2 Syllabus
2014-06-04
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1
Blomgren Advisory Group LLC
“Achieving Growth through
Marketing with the 5 Ways
Formula”
Business Advisor - Brian Blomgren
Principal in Blomgren Advisory Group; Business
Owner and Business Coach since 2004
EXPERIENCE Advised over 100 small businesses
over 10 years; 10+ years in Healthcare; Leadership in
Fortune 20 corp
RESULTS 5 years top business coaching franchise in
world; clients on average have 45% CAGR when on
program for more than year
RECOGNIZED in publications such BusinessWeek,
Catalyst Magazine, Atlanta Business Chronicle
COMMUNITY Past Radio Show Host – The Business
Hour 1620AM – Radio Sandy Springs; Board
Member Christian Leadership Concepts
EDUCATION Industrial Engineering – Georgia Tech,
MBA – Emory, Goizueta Business School
FAMILY Wife – Debbie, Children – Hannah, Benjamin
Vision and Mission
Personal Mission
To Live by Faith, Be Known by Love, to Be a Voice of
Hope
My Business Vision
Transformation of the health of our communities
through market driven business enterprise
Suwanee Dental Care
Smiles people love that bring light and hope to
people of all nations
Your Vision and Mission ??
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Setting Your Future …
Set up Your Reticular Activating
System (RAS) ...
It’s the
COMPASS
(or GPS) for
your brain
...
N
W
S
E
Where you are today
Where you
want to be
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Looking for Business Growth…
Accountable
Responsible
Blame
Excuses
Denial
Ownership
To Make Sure You Get the Most Out
of Your Learning ...
I KNOW
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Definition of a Successful Business
A Commercial,
Profitable, Enterprise -
that Works -
without
YOU ...
(The Owner)
Six Steps Business Model
M
A
S
S
I
V
E
R
E
S
U
L
T
S
Investor
Synergy
Team
Leverage
Niche
Mastery From Chaos to
Control
Predictable
Cash Flow
Systematize for
Efficiency
Leadership
Development
Well Oiled
Machine
Multiplication or
Acquisition
Stability
Cash
Time
Diversification
Happiness
Freedom
Combining Definition of a Business with the 6
Steps Approach …
A Commercial,
Enterprise …
Profitable …
Without YOU …
That Works …
All the Time …
Over and over again …
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Creating Your Niche
...
To say it another way…
You will need to …
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Number of Leads
x
Conversion Rate
=
No. of Customers
x
No. of Transactions
x
Avg $$$ Sale
=
Revenues
x
Margin
=
Profits
Let’s put in some numbers ...
Number of Leads
x
Conversion Rate
=
No. of Customers
x
No. of Transactions
x
Avg $$$ Sale
=
Revenues
x
Margin
=
Profits
200
x
25%
=
50
x
2
x
$5000
=
$500,000
x
25%
=
$125,000
With just a 10% increase ...
Number of Leads
x
Conversion Rate
=
No. of Customers
x
No. of Transactions
x
Avg $$$ Sale
=
Revenues
x
Margin
=
Profits
200
x
25%
=
50
x
2
x
$5000
=
$500,000
x
25%
=
$125,000
220
x
27.5%
=
61
x
2.2
x
$5500
=
$732,050
x
27.5%
=
$201,314
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For Fun… a 100% increase
Number of Leads
x
Conversion Rate
=
No. of Customers
x
No. of Transactions
x
Avg $$$ Sale
=
Revenues
x
Margin
=
Profits
200
x
25%
=
50
x
2
x
$5000
=
$500,000
x
25%
=
$125,000
400
x
50%
=
200
x
4
x
$10,000
=
$8,000,000
x
50%
=
$4,000,000
Niche = Predictable Cashflow
The Rule of 10 by 10 ...
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Measuring Lead Source
Company:
Year:
Marketing Strategy #1
-
Search
Engine
Marketing Strategy #2
-
Direct Mail
Marketing Strategy #3
-
Print Advertising
Marketing
Strategy #4 –
Social Media Marketing
Marketing Strategy #5
-
Building Signage
Marketing Strategy #6
-
Patient Referrals
Leads
New Patient Exams
Conversion Rate #1
Total new patients
Week of
- 5 0 0 0 0 0 5 5 100%
3
Week of
- 4 1 2 0 0 0 7 7 100%
4
Week of
- 3 0 0 3 2 2 10 7 70% 6
Week of
- 0
Week of
- 0
Totals
12 1 2 3 2 2 22 19 86% 13
Averages / Wk
4.00 0.33 0.67 1.00 0.67 0.67 7.33
6.33 86% 4.33
Lead Capture System
Every initial potential patient interaction must
capture reason for them seeking to contact your
practice
Have Lead Capture worksheet with all important
information especially for call back
Train staff on process through a communication
script (i.e. before I can answer your question, could
I get a little information about you?)
Review lead source results in weekly staff meeting
Improving Lead Generation
Understand your strategy first and build knowledge
Trial and Error to increase learning
High Level of Activity to create momentum
Test and Measure through campaign management
Calculate return on investment per strategy
Leverage lead generation through alliances
Over 280 strategies from Solstice Dental Advisors
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Let’s put in some numbers ...
Number of Leads
x
Conversion Rate
=
No. of Customers
x
No. of Transactions
x
Avg $$$ Sale
=
Revenues
x
Margin
=
Profits
200
x
25%
=
50
x
2
x
$5000
=
$500,000
x
25%
=
$125,000
1
2
3
4
5
Six Steps Business Model
M
A
S
S
I
V
E
R
E
S
U
L
T
S
Investor
Synergy
Team
Leverage
Niche
Mastery From Chaos to
Control
Predictable
Cash Flow
Systematize for
Efficiency
Leadership
Development
Well Oiled
Machine
Multiplication or
Acquisition
Stability
Cash
Time
Diversification
Happiness
Freedom
Resources
Order The Book and Get
a Bonus e-Book
only at
100NewPatientsAMonth.co
m
6/4/2014
1
Digital Storytelling
Your Practice Brought to Life
Community
•Blogs
•Facebook
•Twitter
•Pinterest
•LinkedIn
•YouTube
6/4/2014
2
www.facebook.com/MarketingTheMilliionDollarPractice
Facebook
•1 billion users
•Your community resides here
•Meet them where they are
•15 minutes a day or less
Facebook
•Create business fan page
•Maximize opportunity
•High quality images or designs
•Ask patients to ‘like’ your fan page
–Will you talk to me?
–Create ‘Like’ Promotions
6/4/2014
3
Facebook
•Posting
–Communicate Daily
–Test days of week and time of day
–Dr.’s
•Hand off to a trusted team member
6/4/2014
4
Facebook
•What to post?
–Blog articles
–Photos and Videos
–Fun or inspirational quotes
–Ask questions
–Relevant articles from AGD, AACD, Suppliers,
etc..
6/4/2014
5
Facebook
•3rd Party Applications
–Contest and Promotions
–Fan offer
6/4/2014
6
6/4/2014
7
YouTube
•We are visual people
•Produce high quality video
•Connect emotionally
•Be yourself
–Even if you don’t think you’re qualified
–People prefer authenticity
YouTube
•What type of videos?
•4 types
–About Us
–Testimonial
–Guest Interview
–Fun Videos
6/4/2014
8
YouTube
•What type of videos?
–Testimonial
•Your patients in the office
YouTube
•Is it worth my time?
–Social proof for your practice
–Reveals the heart behind the mask
–People remember what they see not what
they read
–Search Engines Like Video Content
Risk Produces Reward
•Everyone Has A Story
•Step Into The Unknown
•Do Life With Your Community
•Give And Receive
6/4/2014
9
Digital Storytelling
•Facebook, YouTube and Video Content
–Focus Your Efforts Here
–Be Consistent
–Give Yourself Time
•Marathon Territory
Resources
Order The Book and get a
bonus ebook
Only at
100NewPatientsAmonth.com
Tyler Williams Live
•High Performance Coaching
–Via Phone Call or Skype
–30 Minute Complimentary Session
–tyler@tylerwilliamslive.com
