Uncovering Hidden Revenue Opportunities in Your PracticeNovember 28, 2022 by AACD Executive Office
A big complaint among cosmetic dentists is not getting enough high-ticket cases and struggling to find the right patients.
The knee-jerk reaction is to throw money at paid ads and hope for the best.
But you want a profitable business, not fruitless traffic and leads.
Fortunately, there’s a guaranteed way to inject cash into your practice WITHOUT putting all your eggs into ad spend.
In this article, we’re going to talk about finding and capitlizing the revenue that’s hiding within your existing practice management system.
There’s hidden revenue sitting in your practice
The hard truth: Most practices have $300K-800K sitting in their patient database.
That's relationship capital you can leverage to get an influx of cash with minimal cost or effort.
Why? Because these are your current patients.
They already know, like, and trust you.
They have a problem that you can solve, making it much easier for them to say “yes” to treatment.
Identifying revenue opportunities in your existing patient base
The first step is knowing your numbers.
You want to dig into the data and try to find the “low-hanging fruit” - the revenue opportunities that are the quickest and easiest to take advantage of.
You can do this through:
Once you identify your unaccepted treatment cases, it’s time to reach out to those patients.
Getting patients to say “yes” without taking your team’s time
Consumers need between 5-12 communication touchpoints before committing to a purchase.
That applies to dental services too!
But many practices only talk to their patients one time about a treatment recommendation.
… Maybe two times.
There’s not a system in place for nurturing these leads proactively.
So, what’s “lead nurturing?”
It’s continuing the conversation with your patients outside the dental chair. It’s building a relationship and trust.
But: Having your team follow up 5-12 times with hundreds of patients isn’t realistic.
It’s better to create automated follow-up systems via:
These messages don’t have to be salesy. The key is for it to be friendly and conversational! Just the same way you’d communicate with the patient in person.
Here’s some ways you can do this:
Provide a simple, non-salesy offer
Some great offers could include:
Share educational material
Lead nurturing is a powerful tool.
We did a nurturing campaign with one of our clients and got in touch with their patients with unaccepted treatment.
They got $300K of high-ticket cases in less than 3 months.
Leverage your relationship capital.
You could be sitting on a gold mine, and it’s so simple to snatch up.
Before you spend another dollar on ads, talk to Roadside Dental Marketing and see if you have the opportunity to gain this valuable capital.
In just 30 minutes, you’ll see your real practice numbers and the leverage you have to scale and grow your practice.
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