Marketing manager, Lachlan Hetherington, shares his thoughts on how to unlock more profits in your podiatry practice.
Imagine discovering untapped profits within your practice that you may not currently be capturing? And what if I told you that unlocking this potential would not only increase profits but also improve patient care?
Ready to transform your practice? Let’s dive into strategies that will boost your income while enhancing patient care.
When podiatry practices think in terms of growing, the first thing that may come to mind is marketing. If this applies to you, then you’re not entirely wrong. It can be tempting for a practice to focus solely on bringing in new patients, yet this risks missing the bigger picture.
Did you know it’s five times more expensive to market to new patients than it is to retain your existing ones? Whether it’s through Facebook ads, Google ads, SEO, or paying marketing agencies; the costs can skyrocket. While these tactics can be effective, they should never be your first port of call.
Before you start pouring money into external marketing, it’s vital to ensure you maximise your current patient base. Fix the leaky bucket first, then focus on attracting new patients.
Regular communication with your patients is key. Fortnightly newsletters not only keeps your practice front-of-mind, but they also provide an opportunity to educate and offer value to your patients. You could include foot care tips, updates on new treatments, or special offers to incentivise them to book their next appointment. Consistent engagement leads to higher retention rates, and re-engaging inactive patients is far more cost effective than acquiring new ones.
SMS is a simple, yet often underutilised, tool for boosting patient retention. If you don’t do this already, send appointment reminders or follow-up messages to check how your patients are doing after their last visit. You can also use SMS to notify patients of special offers or encourage them to book a check-up.
Offering exclusive promotions to your existing patients can go a long way to reactivate those who may have drifted away. A good example of this is a back-to-school campaign. Consider seasonal discounts, package deals for ongoing treatment, or even a ‘refer a friend’ incentive to get them back through the door. Special offers not only drive revenue but also strengthen the relationship between you and your patients.
Once you’ve re-engaged your current patient base, your practice will be in a much stronger position to explore other marketing channels. Now, when you invest in external marketing like Facebook ads or SEO, the value of each new patient increases significantly. And they are more likely to become long-term clients.
Once your internal processes are optimised, it’s time to look at external marketing to expand your patient base. In addition to ensuring your details are updated on Find a Podiatrist, here are a few effective strategies:
By shifting your focus from solely acquiring new patients to optimising your current patient base, your practice can unlock hidden profits and provide better care. With strategies like fortnightly newsletters, SMS check-ins, and special offers, you can retain and reactivate your existing patients more effectively.
Once you’ve sealed the leaks in your practice, you’ll be ready to amplify your growth with external marketing services like SEO, Google Ads, and Facebook Ads. This combination of internal retention and external acquisition will ensure you’re not only growing, but doing so in a sustainable, profitable way.
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