Practice Management Strategies – Optimizing Conversion

At our Business Partner Summit, ReSound Strategic Account Managers, Brad Romney and Greg Stafford, presented on making the most of every sales opportunity.

What is a conversion within a practice?

Cohesion  
A true commitment of the entire staff to dedicate his or herself to a structured process that requires focus, confidence, and change.

Proactive Planning
It starts long before the ad is created and long before the lead is received.  It entails knowing exactly how you plan to handle the lead once it arrives.

Converting Opportunities into Patients
The process of maximizing the impact of every contact you make and every lead you receive, from the time you first “launch” your marketing plan until the patient is a satisfied referral source.

Avoid the 5 common pitfalls

Not involving the front office staff enough
One of the biggest mistakes we often see in practices is the fact the front office staff are not properly trained and utilized well or enough.  They are not made part of TEAM and don’t know what to do with leads when the telephone rings.

Failing to adhere to a selling system
Hearing centers where dispensers deliver a systematic process for selling patients achieve the highest profitability via consistent quality control.  Moreover, patients understand best the need for and implications of their decision to move forward with amplification.

Ignoring the low hanging fruit
Most practice owners wear blinders, applying self reliance so well that they fail to see sales opportunity abound in and through patient and professional advocates who are in an optimal position to easily help them grow their practices.  Low hanging fruit can include: existing fitted and satisfied patients; existing tested/not sold (aidable) patients; referrals from professional practitioners.

Reactive marketing
Too often many of us respond to our competition’s ad selection, timing, method, and message rather than executing a marketing plan around who we are with focus, consistency, and purpose. Ask yourself who you are as a business, who you’re targeting and know your numbers (break even sales volume vs. ideal sales volume).

Not keeping score
How do we get to where we want to go if we don’t know where we’re starting from?  The value of tracking results:

  • Knowing where your business comes from
  • Know where to place new or increased focus
  • Unforeseen marketing opportunities
  • Staff training requirements
  • Staffing adjustments

Benchmark yourself against industry standards and your competition and benchmark your own last best results for future improvement.

Key Measurements – What You Should Track

Front office monthly tracking:

  • Total number of calls per event by referral source
  • Total number of appointments scheduled
  • Total number of companions scheduled
  • Total number of appointments kept

Individual back office monthly tracking:

  • Total number of opportunities seen
  • Total number of aidable ears
  • Total number of patients that purchased aids
  • Total number of patient with companion present
  • Total number of instruments sold
  • Total number of instruments returned
  • Total net revenue billed
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