How to Improve Your Marketing Results

Hey everyone, Dr. Vince Leone here from Specialized Practice Consulting, where we help doctors add and grow high-ticket niches like decompression neuropathy, knee pain, and now plantar fasciitis. We do this in— we have kind of 2 sides of the business. We have our consulting side, coaching and consulting, where we help with protocols, enrollment, ROF, internal marketing, staff training, systems optimizing, everything in the actual process of treating patients. And then we also have a marketing agency where we run paid advertising, primarily online— Facebook, Google, YouTube— but we also help with TV, radio, and newspaper. Now what I want to talk about today is how do we track Add statistics so that we could grow revenue. Because what happens is the vast majority of doctors are very frustrated with their new patient generation. They know intuitively that the, the marketing will work. They just don't know quite how to get it to work. They throw a lot of money at Facebook or Google, and they don't always get the results that they're looking for. So what I want to do in this quick training is give you the some tools to either optimize your current agency or know what to ask when you are interviewing agencies. And certainly, if you want to talk to us about running your ads, you can always send an email, support@drvinceleone.com, and in the subject line just say practice consultation. So let's go ahead and dive in here. So first of all, Who is this for? Well, it's for doctors that are already offering cash-based services in the niches: decompression, neuropathy, knee pain, plantar fasciitis. It could be weight loss. It could be other med spa type of treatments. This is for doctors that are motivated for growth. They want to take an active part in their marketing, and it's for doctors that are frustrated with their current marketing, which there's a lot of those doctors out there. So why is this important to do it? Well, first of all, what we focus on grows. So if you're focusing on building muscle and you're getting into the gym on a regular basis, that will grow. If you're focusing on your health and you're eating better and sleeping better, that aspect of your health will improve. So if we focus on tracking our stats and know what stats to track and how Like, what are the KPIs, which are key performance indicators, you know, to hit in order to have success? If we, if we focus on those, it's going to get better, right? Because we'll know the questions to ask, we'll know the numbers to hit, and it just kind of flows from there. We also become more astute business owners. So in this day and age, it's not enough to just show up and be a great doctor, unfortunately. Right? Because it— now, if you want to be in some type of, you know, big conglomerate, yeah, you can do that. I don't know that that really exists for chiropractors unless you go to, say, The Joint. But if you're going to be an independent doctor and have your own shingle and your own practice, you need to extend your expertise into some of the business realms, and one of them is marketing. Now, when we track our stats, it allows us to see bottlenecks, right? Where is growth being constricted and how do we open those up? And it allows us to see opportunities. So if you are wondering why you see some doctors that are doing very, very well and they're advertising all the time and you're like, how in the heck do they pay for that? It's because they see opportunities. So when we were in practice, when I was in practice, our practice I started with my father is still going strong. But when I was there, you know, we had an agency that ran all of our paid advertising. We would meet on a regular basis and we would look for opportunities. It may be the time of the season, it may be a different platform. In other words, you know, in February you probably don't want to be advertising on TV. Why? Because football is sucking up all the ad dollars, and so your ad costs rise, so you don't want to be there. And so when you know your data and you have experience and you can look back and then extrapolate that information and then project forward, then you can see opportunities for your practice. So what stats do we want to track? Well, of course you want to look at your ad budget, right? So if you are— now keep in mind, Google and Facebook are both auction platforms. So if you are spending $500 a month and you're in, say, Dallas or Los Angeles, you really should not expect to get much traction because those are very expensive places to market. So I would say in most markets you're going to need to be spending, gosh, at least $1,000 a month, if not much more. And so if you're not getting enough leads, your marketing agency may be hesitant to say, hey, you need to spend more money. You know, most of our clients are spending $2,000 to $5,000 a month at least because that's what moves the needle. And so Once they're getting traction and dominating their marketplace and converting those leads into new patients, well, it's like a machine and they just want to keep putting more money into it because they keep growing. Right. So, so your ad budget is, is where everything starts. If you don't, if you're not putting enough money into the machine, that's an issue. You obviously want to track your new consultations. Right. How many leads you're getting. So it goes from ad budget, actually leads, number of leads should be in there. I don't know why it's not in there. But anyways, number of leads, your cost per lead, which is your CPL, your number of consultations, number of new patients, and so your conversion percentage. But let's back up a little bit. Okay, so say we have 100 leads. Well, You should be able to get if you're if you're say you're doing Facebook. Now Facebook is a pure numbers game. I mean you're just going to have to churn through leads and consults because that's just how it is. Google's a little bit better because it's a it's a better quality because people are actually looking and searching for a service, whereas Facebook we're just it's a push type of advertising. We're putting our ads in front of people whether they like it or not. So on Facebook. If you get 10% to convert, that's fine. I mean, that is totally fine. So in other words, what those KPIs look like or those key performance indicators look like, we get 100 leads, we get 20 consults, and we get 10 closes. If you do that, you should be just thrilled, right? Because if you think about that, say we spend— say it's $20 a lead, right? So we get 100 leads. That's $2,000. We get 100 leads, 20 consults, and 10 people sign up. Well, at $10— or sorry, if you say your case fee is $3,000, well, that's $30,000. You invested $2,000 in ad spend, say $2,000 in the agency. It's a great return on your investment. Even if you go to 5%, right, and a 5% conversion rate, in other words, from lead To new patient start, that's still a win, right? So you spent $2,000 on ads, $2,000 on your agency, and 5 times $3,000, right? 5 new patients, 5% of $100,000, and your case fee is $3,000. That's $15,000, right? So you invested $4,000 and you got $15,000 back. Why would you not want to continue to do that all day, every day? And that is where Facebook is trending. 5% conversion rate. Now in the beginning, if you just start Facebook and you have really good ad images and really good copy and really good headlines, maybe you get a better conversion rate than that, but that is the trend over time. We're managing hundreds of thousands of dollars per month in ad spend, so I'm just telling you the numbers. So you wanna know what your cost per lead is. You wanna be somewhere in that $20 to $30 range. You obviously want to be tracking how many new patients. And so based on that new patients, how much revenue did you generate? Right? No, not everybody. And by the way, this is not for a chiro patient, right? I specifically deal in the niches. So we're talking about decompression, neuropathy, knee pain, plantar fasciitis, weight loss, etc. So if someone, you know, how many new patients did you get that month? How much revenue? was generated. And so, and you could do current revenue and projected revenue. It's not everyone writes a check for $5,000 or $4,000 or whatever the case fee is, right? So if, you know, if they're paying, say, half now and half in 30 days, your current revenue would be, say, $2,500 on a $5,000 case fee and $2,500 projected. And you want to know your conversion percentage for sure. Okay. I had 10 consultations. How many people signed up for care in one way or another? Now, even if they do a payment plan, that's still a conversion. So you should be shooting for at least 50%, okay? Now, if you're not hitting at least 50%, you should send an email to me, support@drvinceleone.com, and ask for the VIP patient enrollment system that is focused on the report of findings, because you cannot do a traditional chiropractic report of findings with a niche patient. It just doesn't work that way. CPA, it's your cost per acquisition. So if you spent $2,000 in ad spend and you got 5 new patients, what is your cost per acquisition? Having you do some math, right? That would be $400, right? $400 times 5 equals $2,000. So that's your cost per acquisition. And I've found it's anywhere from $200 to $500 depending on the market. So revenue generated and then your return on ad spend. Now, you probably want to look at— you probably want to throw in your agency fee as well. But when we look at return on ad spend, or ROAS, we're just looking at, okay, we invested $2,000 in advertising and this is how many— this is the revenue that was generated from it. That's our return on ad spend. Okay, so this video is getting a little long, so let's wrap it up here. Here's your action items. You want to ideally identify a staff member to take this over and then just give you the results, say, on a monthly basis. But it may be you in the beginning. Just create a simple spreadsheet, right, with their stats, with just the ones that we talked about. Do 12 tabs for January through December. Input it on a weekly basis or update input. Review it at the bare minimum monthly. I mean, again, you're— if you're going to spend the money, if you're going to invest the money on advertising, you should be tracking it and reviewing it and then adjust as needed. So in other words, what I'm saying here is if you if you look at your stats and and you have your marketing agency say, hey, what's my cost per lead in January? It was fifty dollars. Why is it so high? What do you mean? Well, you know, based on information that I've learned, a lead should be between twenty and thirty dollars. Oh, well, I'll work on that. I mean, guys, great. The squeaky wheel gets the grease. You got to understand, these agencies have tens, if not hundreds of clients. And so you're just one of many. And if you're not squeaking the wheel, they're just going to assume you're doing fine. But if you reach out to them and say, hey, what's going on here? And I'm not getting enough leads, or we're not getting enough show rate, or whatever it may be, then you want to kind of make sure that you're giving them feedback. Hey, this is what's happening on my end. What's happening your end? How can we improve this? You know, what do I need to do? So it's a collaborative effort. You can't just like say, you know, sign up with an agency and say, hey, make me rich. No, that doesn't— it doesn't work like that. It's a collaborative effort. They need your feedback. I ask clients for feedback. And again, if we just never hear from them, we're always checking and optimizing the campaigns on a daily and weekly basis. Right. So, so if it's looking good on our end, and we don't hear from them, we're just assuming they're making money and they're happy. But we try to communicate with them on a monthly basis at a bare minimum so that we get feedback. But again, not all clients are receptive to that. Sometimes they just want to work and it's working for them and, and they, they don't want to be talking to us on a monthly basis. That's fine too. It's just not the ideal situation. So anyways, I hope this has been helpful for you. Again, running a little long here. I'm trying to get this to 10 minutes, but I hope this has been helpful for you. Again, if, if this is something you need help with or you would like to talk about us taking over your ad— paid advertising, just send me an email, support@drvinceleone.com, and we'll get a consultation set up. Okay, that's it for this training. We'll see you on the next training. Take care.