How Offering Anti Ageing Can Transform Your Practice
How Offering Anti Ageing Can Transform Your Practice
How you can offer anti-ageing in your practice and create a new revenue streatm
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Kevinneil
Kevinneil

Six Quick Profit Boosters (part one)

Six Quick Profit Boosters (part one)

7/29/2013 1:03:23 AM   |   Comments: 0   |   Views: 49085

Here’s part one of your Six Profit Boosters

We are always looking for ways to increase our revenues and profits so I thought I’d give you a very quick overview of what you can do right now to deliver you an immediate profit booster almost overnight.e.

Because this is going to be a rather long article, I’ve split it into two, I’ll give you three this week and three next week. Incidentally none of this is rocket science it is all common sense but you may have forgotten some of them, or maybe even not tried them before.

Profit Booster 1. Sell Something Else to Your Patients. Yes it does involve the dreaded “S” word, but when you have your patient in front of you this is an ideal opportunity to sell them something else. So what could this be, for instance could mention your new non-invasive facial aesthetics service, which will immediately make them look younger (contact me about this), but if not it could be whitening, hygiene, dental health products. You just have to sell something additional to what you are doing as a matter of course.

To highlight how something as insignificant as a tube of toothpaste can be, let me tell you about a range of toothpaste I promote, that patients can’t buy in the shop is called AP24, if you could simply sell this to 20 patients per day, you could increase your profits by £60.00 per day, £320.00 per week, £1,300 per month, £15,600 per year. But it can be anything at all that you have, either a service or a product.

You have the relationship with your patient so its your opportunity to leverage that relationship by selling something extra, this is the easiest profit booster you can do and its so simple.

 Profit Booster 2. Convert your lapsed patients. This is part of your hidden goldmine, I keep telling you time and time again that its so much easier to sell to your existing customers/patients than it is to get new patients. Most if not all of you will have a huge number of patients on your database that no longer visit your practice. This is an ideal group of people to approach.

How long do you think it would take to get 500 new patients?? Unless you have a massive throughput I would suggest quite a while. Well lets just imagine you have 2,000 patient’s on your database that no longer visit your practice. If you make an offer to this group, I would almost guarantee that you could get between 100 and 500 of them to come back within a week.

But don’t just communicate with them once, remember this, keep communicating with them until they buy, die or tell you to go away. Most people send something out once and then that is it, you need to continually communicate not only with your regular patient but with this group too.

Profit Booster 3. Put your prices up. Yep, when was the last time you put your prices up, and by how much? have you tested your prices, for instance if you can put your prices up by 10% and you have no resistance, try another 5-10% and see if it works then, you can effectively keep putting up your prices until you reach a point that people are not prepared to pay, at which point you may want to lower them a little again.

Increasing your prices by 10% will add much more to your bottom line.

As I mentioned at the beginning of this article, I have six tips to immediately boost profits, I’ll give you the remaining three in my next article.

If you would like help making your dental practice or business more profitable, please call me on 01767 626 309 or email me at enquiries@dentalmarketingexpert.co.uk

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