Turning Lost Patients Into Leads What is a lead worth? According to Johnson & Johnson Vision (previously AMO) studies, the average practice spends $250-$350 per lead. I think it is important for us to stop here and define what a lead is. A lead is anyone who expresses interest in your services. It could be a phone call, a web entry, referral from a doctor or friend, entries at an event. They all qualify as a lead. See how you stack up against To determine what your Cost Per Lead is, take the total number of marketing expenses divided by the number of leads received. How important is it to have an effective follow up system for those leads? Let’s do the math. Let’s say you have a 60% conversion rate of leads to surgery. Out of 10 leads, six had a consult/exam and decided to have surgery. That means four people that you spent $1,000 on acquiring in your lead database either said they weren’t ready for a consult yet, came in for a consult and disappeared, or just simply disappeared after initial inquiry. When you look at your marketing budget, no matter what size your practice is, the smart practice will have an effective way of eventually converting the leads you’ve already invested in acquiring rather than writing them off as a loss. What is the magic formula to convert 100% of your leads? Frankly it is unlikely that you will ever achieve 100% conversions but you will hit your maximum potential if you have an effective lead follow-up system. Sweeping them under the rug and writing them off is not the answer. There are ways that you can increase your conversions so that you at least retain two more out of that equation by nurturing those relationships until they are ready to take action. The answer lies in understanding the psyche of the patient. Click here to learn about a prospects educational process. Understand that you need to develop an educational process for the prospect to educate themselves enough to overcome their fears on their own. You need to become their reliable resource so when the time comes, they choose you confidently because you have already established trust. Follow these simple guidelines for effective follow-up: Be Tactical – Rotate live calls with emails Enable intelligent engagement by having knowledgeable people making the follow-up calls Stay Involved – Track your conversations so you know when to follow-up next Bridge Process Gaps – Turn objections into opportunities; Recognize that objections are really questions Troubleshoot Each Stage – Set the stage for the next communication Eliminate Fears – Be truthful, become reliable Follow up is essential to the success of a practice! If you would like to discuss these topics or find out more about what Fast Track Marketing can offer your practice in this important area, please call Brandi Musgrave at 303.447.9192 or email her at brandi@fast-trackmarketing.com