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Ep.121: Know Your Numbers

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Hello,

Here’s an interesting 2021plastic surgery marketing trend that affects you…

“There will be no more silver bullets,
everyone will have to optimize for marginal gains.”

In the past, you could pick one or two main marketing channels (your silver bullets) and live off of them to get you the cosmetic patient leads you needed to run a successful practice.

Not anymore. There is just too much noise in the world today.

Look at the list I came up with within one minute, in no particular order and I’m sure there are plenty more:

✅ Website Design
✅ Real Self
✅ Link-Building
✅ YouTube
✅ Practice Newsletter
✅ TV Ads or PR
✅ Radio Ads or PR
✅ Cable Ads or PR
✅ Public speaking
✅ Retargeting Banner Ads
✅ Direct mail
✅ Email
✅ Texting
✅ Patient Events
✅ Press Releases
✅ SEO
✅ PPC
✅ Articles
✅ Blog
✅ Directories
✅ Doctor Referrals
✅ Alliances
✅ Fundraisers
✅ Billboards
✅ Print Ads
✅ Banners
✅ Social Media Posting
✅ FB/IG/Linkedin Ads
✅ Chat Bot

Crazy right? You will never have enough time, money or energy to use all of these cosmetic patient marketing channels.

But that’s not all. There are also too many technology choices that need to be considered carefully so you don’t end up with a coat-hanger 😉

And, not to pile on but there are also too many generational differences since you may be catering to patients in their 20’s up to patients in their 70’s.

So, what do you do? How do you make sense out of all these variables, so you invest your resources wisely?

My advice is to know your numbers so you can make intelligent decisions…

READ MORE HERE

Dedicated to getting you more patients and profits –

Catherine Maley, MBA

P.S. One marketing channel that will always be a winner is your current patients who return and refer their friends.

Click Here for a simple solution to grow this channel

If you want to talk more about your specific situation, just leave me a message at: www.CatherineMaley.com Or DM me on Instagram

📖 Get a Copy of Catherine’s FREE Book
​📲 Schedule a FREE 30-Minute Strategy Call with Catherine

👁 DON’T MISS THESE INTERVIEWS 👁

​➡️ Robert Singer, MD FACS – Former President, The Aesthetic Society
​➡️ Grant Stevens, MD FACS – Former President, ASAPS
➡️ E. Gaylon McCollough, MD FACS – Former President, AAFPRS, ABFPRS, AACS

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Transcript:

Know Your Numbers

Catherine Maley, MBA

Hello, and welcome to “Beauty and the Biz” where we talk about the business and marketing side of plastic surgery. I’m your host, Catherine Maley, author of Your Aesthetic Practice, what your patients are saying, and consultant to plastic surgeons to get them more patients and more profits today’s “Beauty and the Biz” episode is called, Know your numbers.

And we’re going to start with an interesting 2021 plastic surgery marketing trend that affects you and how. There will be no more silver bullets. Everyone will have to optimize for marginal gains. So, in the past you could pick one or two main marketing channels, which were your silver bullets, and you could live off of those to get you the cosmetic patient leads.

You needed to run a successful practice, but that’s just not the way it is anymore. There’s just too much noise in the world. So as an example, I came up with this list of marketing channels and I did this within a minute and they’re in no particular order. And I’m sure there are plenty more, but just listen to this.

You can do website design, Real Self Q&A, link building, YouTube videos, practice newsletter, TV ads, or radio ads or cable ads, public speaking, you can retarget banner ads. You can do direct mail, email texting, patient events, press releases. You can do public relations, you know, PR SEO. PPC, you can write articles, blog.

You can be in directories. Doctor referrals, alliances. You can participate in fundraisers or buy billboards or print ads or web internet, banner. Social media posting Facebook, Instagram, LinkedIn ads, Chat bots. I mean, isn’t that crazy? You are never going to have enough time, money, or energy to use all of these cosmetic patient marketing channels, but that’s not all there are also way too many technology choices that need to be considered carefully.

So, you don’t end up with the proverbial. Coat hanger right. And then not to. But there are also too many generational differences since you may be catering to patients in their twenties all the way into their seventies. So, what do you do? How do you make sense out of all these variables? So, you invest your resources wisely.

So, here’s my advice. Know your numbers, the answers you are looking for are in your numbers. When you collect and review your day. You have such a better picture of what is driving your success, but this cannot be anecdotal. Take the emotion out of it, and just look at the real data that doesn’t lie. So, the fastest and easiest way to follow your successes first, you know?

So, in other words, follow the money. There’s no need to get all fancy and go off on a tangent at this time. Just review your revenues, where they are currently coming from, and then go back for more. And then you can always do more later. But right now, just stick to this. So, for example, revenues by procedure, start by running this report called revenues by procedure.

Now this is going to show you, which of your procedures are more profitable and which should be re-evaluated since they don’t bring in the revenues worth the effort. Sometimes. Frankly, most of the time less is more and that’s the way to go drop the busy work that is not bringing in the revenues. So, you can redirect your focus to the procedures that are.

So, for example, I did like surgical pie chart and I broke out the revenues by procedure and it was showing that the big hits were injectable. Cool sculpting and facelifts. Now that’s good to know when they’re considering their marketing plan. However, their skincare was the loser at 1% of their revenues.

Yet I watched so many practices put a ton of effort into this, thanks to their skincare reps. But is that the best use of your resources given the. Maybe, maybe not. Now another report I love is revenues by referral source. This tells you how your patients hear about you. Now, this data is crucial to know, so you can allocate your time and money to only those marketing channels that are directly attracting new patients to you.

Again, this cannot be anecdotal. It’s too easy for your ego to trip you up here. You may love to see your name in lights, but just be sure it’s bringing you results. However, the referral source is not so cut and dry in today’s technical age. Now, what I mean by that is when you ask a prospective patient who calls your office, how they heard about you, they’ll oftentimes say something like the internet or.

However, as they get to know you better and open up the answer can change too. We’ll actually a girlfriend mentioned you, so then they checked out your Instagram and that led them to your website. And that’s why they said the internet. If that happens, just be sure to update your data for. So also, with that practice that I ran this report for, they were at about 50, 50 internets versus relationships via current patients returning for more and referrals from patients and spas.

And so that’s good to know that. Half external, half internal, but I also noticed the social media was only 1% of their revenues and magazine ads were 0%. So, if I were consulting with them, I would probably recommend they take the magazine ad budget and then reallocate it to investing in. And quite frankly, I have a club for that called the kiss club.

So that was a shameless plug. But if you’re interested in that, go to kiss loyalty club.com I would also recommend they outsource the social media unless the surgeon gets serious about participating in the content because that’s a whole. Podcasts, but if the surgeon’s not participating in the, staff’s not but you have to be on social media, then you might as well just, you know, outsource it because you have to be there, but maybe it’s not worth the time and effort on your end.

Now, there are a lot more numbers to know, but you see how knowing just these two data points will give you such good Intel to make better business decisions. And what you’re trying to do is decide where to invest your time and money on marketing, certain procedures, and then which marketing channels do you use to get to.

Patients who want those certain procedures. Okay. So now let’s talk about data tracking tools, because in order for you to accurately track data, there are lots of tools and technology available today. That’s the good news. If we have to fiddle around with all this technology, at least it’s collecting data.

Now your practice software is the control tower that collects all the data for our practice. Just please be sure you choose a CRM. CRM is customer relationship management. Just be sure you choose one. That is data friendly when it comes to entering data, as well as retrieving. Because oftentimes they can enter the data, but jug can’t even get the darn stuff out of the computer.

So, you really needed to have a format that tells you vital information and that’s the reporting. Now, the good news with all this technology at your fingertips is that it really is tracking all your clicks and links. So, get familiar with Google and social media analytics. They have lots and lots of data for you.

Also, phone calls and lead tracking platforms are super helpful to track data or at least use Google sheets to collect data that can be updated regularly by all parties involved. Now I’ll leave you with this motivating quote, money is attracted to. So happy tracking. Of course, if you could use help with this, please reach out to me at www.CatherineMaley.com.

Okay. That wraps up this episode. So please do me a favor and subscribe to “Beauty and the Biz”. So, you don’t miss new episodes coming up. And if you feel so inclined, please share this with your staff and colleagues, and then you can always follow me on Instagram or DM me there @catherinemaleymba.

Thanks so much. Hope that was helpful. And we’ll talk again.

📖 Get a Copy of Catherine’s FREE Book
​📲 Schedule a FREE 30-Minute Strategy Call with Catherine

👁 DON’T MISS THESE INTERVIEWS 👁

​➡️ Robert Singer, MD FACS – Former President, The Aesthetic Society
​➡️ Grant Stevens, MD FACS – Former President, ASAPS
➡️ E. Gaylon McCollough, MD FACS – Former President, AAFPRS, ABFPRS, AACS

​✔️ STAY UPDATED! ✔️
Website • Blog • ​​Podcasts • iTunes Subscribe • Videocasts

​🤝 LET’S CONNECT! 🤝
Instagram •  Facebook •  Twitter •  LinkedIn

​— #beautyandthebiz #podcastforsurgeons #plasticsurgeons #cosmeticsurgeons #podcast #marketing #plasticsurgery #stafftraining #businessconsulting #strategiesforsurgeons

Catherine Maley

Catherine Maley

Catherine is a business/marketing consultant to plastic surgeons. She speaks at medical conferences all over the world on practice building, marketing and the business side of plastic surgery. Get a Free Copy of her popular book, Your Aesthetic Practice: What Your Patients Are Saying View Author Profile.

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TESTIMONIALS

5/5
"Catherine outlined a plan that put key metrics in place, gave us a clear plan to follow throughout the year and trained our staff to increase their conversions by at least 10%. Since engaging with Catherine, I’m happy to report that revenues are up 15% over the last three months - 22% in the last month alone! I highly recommend Catherine’s consulting services to any practice looking for “best practice” additions to their operation."
Robert Sigal, MD
Robert Sigal, MD
"I have finally tapped into the most efficient way to grow my cosmetic practice and that is to “fish in the pond of my own patients”. When patients return to my practice, over 85% will purchase another service, product, or procedure. Not only was it worth over $200,000 in revenues this past year, it also reminds my patients I’m still around so they don’t wander off to my competitors. Catherine’s group has far exceeded our expectations and goals we had set up for them to achieve."
Victor Ferrari, MD
Victor Ferrari, MD
"Our consult conversions were running at 40-50%. Then we attended Catherine’s online training and implemented her strategies. They immediately increased conversion rates to 75-80%."
Anthony Corrado, MD
Anthony Corrado, MD
"I know how to run a profitable practice; however, it was not without major staff issues, inefficiencies and unproductive drama. With Catherine's guidance, I reorganized staff, set up processes for them to carry more of the workload and hold them accountable so I have more time to focus on patient care. The changes we put in place and the staff training to convert more callers and consultations will easily increase my revenues by 15% as well as save us time, money and costly mistakes. "
Evan Sorokin, MD
Evan Sorokin, MD
"Working with Catherine and her team has been very profitable. We’re only half way through the year and I’m up $200K and I’m booked out for the next 2 months even though we typically go into our slow summer months now. Her recent promotion brought in an extra $63,782 with more surgeries scheduled. I never realized how much money was sitting in my patient list but I’m a believer now!"
Robert Langdon, MD
Robert Langdon, MD
"Catherine Maley has one of the best Marketing Minds in the aesthetic industry, bar none. She understands the aesthetic patient and she also understands the challenges and frustrations we face as aesthetic surgeons. You will benefit from Catherine's tools whether you are new in practice or a seasoned professional.Turn to Catherine for guidance - she knows what she's talking about."
Edwin Williams, MD
Edwin Williams, MD
“Catherine’s Cosmetic Patient Marketing Service has been a great addition to our practice-building overall plan. While we still invest in our online presence, we also found immense value in the internal marketing efforts. We especially like that all results are tracked so we know we are getting a great return ... last year it was 1,148% and no staff time was used. That’s a much easier way to grow my cosmetic practice.”
Mark Mason, MD
Mark Mason, MD
"Catherine Maley turned our practice around. We converted more consultations in one week than we did in an entire month. Our practice went from a painful 50% no show rate to a remarkable 85% show rate. Even more impressive was our close ratio - from 35% to 80% and still increasing. We would recommend her to any practice that’s looking to not only increase their profits today, but sustain a healthy flow of income for many years to come. Thanks Catherine!"
Sam Assassa, MD
Sam Assassa, MD
"Catherine found me the best patient care coordinator I could have asked for. She worked out a payment plan that was fair to me and motivating to my coordinator. She also provided training tools to help my coordinator convert better, even though she was already experienced. The results have been phenomenal. So good, in fact, that my income increased 250% and I’m booked out for 3 months. Don’t waste any more time or money doing it yourself. Outsource to someone you trust!"
Andrew Lofman, MD
Andrew Lofman, MD
"Since we’ve been working with Catherine and her team for the past 5 months, we’ve brought in $79K in surgeries and have booked an additional 17 surgical procedures and 20 non-invasive body procedures since then. This does not include the additional new patient referrals and revenues we are seeing from the on-going nurturing of my current patient database."
Verne Weisberg, MD
Verne Weisberg, MD
"I had given my staff the goal to convert at least $35K per week in surgeries AND I gave them the tools to help which was Catherine’s Online Learning Center at More Patients Academy. They watched Catherine’s modules and implemented her strategies and converted $80K! That equaled a 2,550% ROI. Nice!"
Adam Stein, MD
Adam Stein, MD
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