EP154 | The Most Important Marketing Information You Need To Know
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Show Notes
Let's get into a little marketing math. I know, I know, but trust me, this is the most important concept you need to understand to grow your practice. If you don't know what a new patient is worth to your business over the course of a year, you can't make smart decisions about what to spend on marketing. This is the key to unlocking scalable growth.
🔑 Key Takeaways:
- You MUST know what a new patient is worth to you. This is often called Lifetime Value (LTV).
- Calculate your average revenue per visit and the average number of visits per patient.
- Don't forget retention! A continuity or wellness plan dramatically increases a patient's value.
- Once you know your numbers, you can confidently decide how much to spend to acquire a new patient.
🧠 Pro Tip: If a new patient is worth $1,480 to you over a year, would you spend $400 to get them in the door? Yes, all day long. If you don't know those numbers, you're just guessing.
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