Busy-busy-busy. Promotions, staff training, hiring, new procedures, patient finances, and patients, patients, patients.
There may be a recession, but with the doctors with whom we work, there sure hasn’t been a recess!
They are working harder than ever (and so are we!) And, their practice “scorecards” show it. Some offices report a slight decline but many in fact have been going up.
And that is, in the final analysis, our best solution: In a recess-ion – don’t take a recess. At least not a mental one. Now and then, it is good to get out, but that is just so you can come back with more energy than ever.
Quit Whining
Arnold Schwarzenegger recently told a group of Europe’s top trade officials:
“It doesn’t make any sense for people to sit back and whine and to complain about the economy slowing down because we have to look forward rather than back.” He went on to say: “We have to be part of the solution, not part of the problem.”
So, what is the solution?
When the Going Gets Tough
Over the years, we have seen so many chiropractic offices get by with poor procedures, hit and miss marketing, bad management, and sloppy clinical. The thing is, chiropractic works SO WELL that a poorly run office could limp along and survive. But not any more.
When the going gets tough, the tough get to work improving their business, or to paraphrase Stephen Covey, they get to work “Sharpening their Saw.”
You have to improve all aspects of your business. If you don’t, people will go to a doctor’s office that is.
First thing you should do?
But when numbers start to slip, what is the first thing you should do to improve your business? OK, let’s start out this way: what is the first thing you should NOT do?
Read the results of these 2 studies and see if you can guess the answer:
In a study of U.S. recessions, McGraw-Hill Research analyzed 600 companies from 1980-1985. The results showed that business-to-business firms which maintained or increased their advertising expenditures during the 1981-1982 recession averaged significantly higher sales growth, both during the recession and for the following three years, than those that eliminated or decreased advertising. By 1985, sales of companies that were aggressive recession advertisers had risen 256% over those that didn’t keep up their advertising.
Or how about this study by Roland Vaile:
“Advertising executive Roland S. Vaile tracked 200 companies through the recession of 1923. In the April 1927 issue of Harvard Business Review, he reported that the biggest sales increases throughout the period were rung up by companies that advertised the most.”
You guessed it: don’t stop marketing. Marketing costs money and takes time, and this is one of the first things business owners want to “cut back on” when frightened by a recession.
Hmm, is that defensive or offensive? And the best defense is a what? That’s right, a continuous outreach program. Talks, screenings, special promotions, networking, do it all and more. Now is not the time to cut back or economize. The time to do that is when you are making the money. If you try to save now, you will have less and less to save with. Most people spend money when they make it and try to save it when they don’t. In fact, the exact opposite should be done as a business strategy. More on that for a later post.
But marketing isn’t all external. The truth is, it is mostly internal to your office. This means you should work each week on improving your internal marketing procedures. These include patient education and extra-ordinary service procedures, and literally everything you do and that goes on in your office that each patient experiences.
What the patient experiences is a critical part of marketing. If the patient has a satisfying and rewarding experience, he or she will come back and maybe bring a family or friend. If she doesn’t, she will go somewhere else.
So, don’t go blaming the economy if your patients aren’t coming back or referring, or if your practice is not growing. Improve your patient’s experience in your clinic and get to work on improving your marketing outreach and all aspects of your business.
Even with the challenges that the economy sends your way, this still could be your finest year.
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Come to our Boot Camps and get trained. We are going to train train train, and have fun doing so.
Minneapolis, MN – Thursday, April 2. 8:30 to 5
Milwaukee, WI – Thursday, June 4. 8:30 to 5
Learn about them here.
Listen to Dr. Peter Kevorkian on our next Teleclass on March 23 at 12:30 Central Time. Special talk on “Creating Lifetime Patients”
To learn more or register, go here.
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link to above mentioned studies: Studies