This week on Marketing Monday, Angus Pryor, the founder of Dental Profit System, will be talking about how to access your best clients as part of a new series.
Watch the video or you can also read the transcript below:
Transcript: How to access your best and cheapest clients
Well hello, entredentists. Angus Pryor here, the creator of the Dental Profit System, co-author of the Better Business Book, bringing you today’s Marketing Monday, the weekly show designed to boost the marketing at your dental practice.
Today’s topic is, “How to access your best clients and indeed your cheapest clients?” And this is actually the start of a series. We’re gonna look at one of my favorite topics … As a marketer, there’s a lot of things that people think I should be doing but one of the best ways to get a return? Right to Internal Marketing.
I want to you to think about something for a minute. You know a lot of marketing that clients contact me about, they think about, “Angus can you bring in more external clients?” But here’s the reality, many studies point to the fact that the price of re-engaging an existing client or keeping an existing client, as opposed to bringing in a new client, can be in the order of seven times. Seven times the cost, seven times more expensive to bring in an external client as it is to keep an existing client.
Now let’s have a think about the numbers there. Seven times the cost. Now Howard Fran was in Australia recently and he said in his dental business that, “He would pay up to $100 for a lead to bring in a new client.” Let’s say you wanna bring in an extra 20 clients a month. So there’s a $100 a lead, 20 clients, that’s potentially $2,000 a month you could be spending on bringing in new clients from external marketing.
And if that $100 figure seems high to you, I can tell you actually it’s not a bad deal. Most dental practices in Australia, the median spend from their clients in a 12 month period would be in the order of maybe $500 to a $1,000. If you’ve got to spend $100 to bring in someone who’s gonna spend between $500 and a $1,000, that’s not necessarily a bad deal.
Anyway, that is $100 a lead times 20 new clients, $2,000 a month. But remember I said it was seven times, which means it’ll be seven times cheaper. Now seven into 100 doesn’t go but let’s call it 14. That’s pretty close, isn’t it? I think that’s right. On the other hand, if you were spending $14 a month to re-engage 20 clients, to get 20 clients or existing clients of your business but haven’t been doing as much business with you as they could have been.
Then that costs a fraction of what it could be. And most clients that I deal with, they would have on their books somewhere in the order of a 1,000 patients and I can tell you those patients are not active. And the opportunities there from an Internal Marketing point of view are two-fold. One is to re-engage. So these are people where for example, they’ve been clients in the past and they haven’t been for a year or maybe a couple of years or whatever.
And one of the reasons why Internal Marketing is so much cheaper or at least keeping existing clients as opposed to bringing in a new one is so much cheaper, is because this group doesn’t have to go over the hurdle of from where they don’t know you at all. To where they’ve had actually dealt with you and they realize you don’t have two heads. And you’re reasonably nice to people et cetera.
So you’ve got a 1,000 people on the books, there’s this re-engagement part which is part of it. The other part of this group is that they are maybe not using your services as much as they could or as much as they’d like to if they knew about it. Chances are you’ve got some services that they’ve not used. In fact, that’s basically a certainty, isn’t it?
And I don’t mean things that are super discretionary. I mean things that actually if they had it brought to their attention that would be valuable to them and they’d be wanting to spend. So that’s the deal. That’s why we’re gonna do a series on Internal Marketing. The numbers really support this. If you got a super active client base then maybe you don’t have too much re-engaging to do but I would bet you as sure as night follows day, that they would be a bunch of clients on your list that have not been using the services or all of the services that are available that would be suitable to them.
Alright so that’s Internal Marketing, we’re going to look one by one at a bunch of different Internal Marketing techniques that you can use to re-engage and boost the number of services for your business. Now the next thing I wanted to mention is we’ll be doing a full day workshop, It’s in Melbourne, the third of the third. Sydney, the 10th of the third and Brisbane, the 17th of the third. That’s the Saturday.
We’re gonna spend a full day with you. At the end of the day, you have a marketing plan that you’re ready to take back with you to your practice. So dpmplan.com.au. Melbourne the third of the third. Sydney the 10th, Brisbane the 17th. Come along. You will leave with a marketing plan that you can implement the next day. ‘Course the next day it’ll be Sunday, so I’ll let you have the day off and it’ll be Monday.
Alright well for me, from Angus Pryor, this is me signing off. Catch me next week when we start to go through the series of all the Internal Marketing stuff. Otherwise, see you next time on Marketing Monday.