Hello PT Business Builders!
Welcome to the PT Business Builders Show where we believe EMRs suck. That system and software should actually grow your practice in your business and improve your life, not consume it. And here, our own measures of success are system and software that give you the time to enjoy your life and financial freedom.
To do that, we're starting to do a series here. If you'd like to be tagged, just comment “me” below. If you're on here live, put “live”, if you're on the replay, say “replay.”
What we're doing is we're going to start doing word-of-mouth series. I've been kind of talking about this, hidden around about this, asking a lot of questions about this.
What we're going to try to do is help you cultivate that word-of-mouth. Cultivating this word-of-mouth is a real process. There's a lot that goes into this. And there's a lot of things you can use.
I'll teach you the three ways to go about doing that -- the ways that you can where you can go about getting those reviews, getting the people that are interested to refer people like them. I'll teach you all the systems, all the tricks, all the tips on how to do this.
I've been doing a lot of research on the numbers on this lately, and this is actually pretty staggering: that 80% of your future business comes from 20% of your past customers. They either return themselves or they refer to family and friends.
If you can make an incremental gain of that 20%, if you can move that 20% by 2%, then 80% is going to grow by 10%. You only need to barely move the needle at all for huge gains. You can see an 8% gain by moving the needle by 2%. Instead of it being 20% that refers to it being 22%, you can have an 8% growth in your business.
This is quite simple guys. There's not much to do. They did say it was a pyramid scheme. This is not a pyramid scheme, this is math. It is just simple math.
Say you charge $200 per visit, you know how many visits you have to see in a year to make that amount of money.
People got really upset. I don't understand it.
What we're going to do with the word-of-mouth series, there's a number of things: number one, you need to identify. First off, you’ve got to know your numbers, then you can identify the people that want to be your word-of-mouth people. They're there. Everybody has them in their practice.
The question is, what are you doing with them? How are you cultivating this relationship and changing this into something that is going to turn into dollars and cents for you?
It's not that complicated guys. There are just some very solid, very basic tactics that we can all use our practice to get there -- things that we can do just to build relationships with people, and then identify the people that we build a strong enough relationship with.
That they're going to go out and tell their family and friends about us if we ask. If you don't ask, you can't expect somebody to do something.
You get a certain percentage of that just by providing great care, great service. This is essentially the same plan that everybody else has. We're going to provide great service, great plan. We're going to be great service for them, we're going to be great to them, we're going to take great care of them. That's everybody's plan.
If you want to win and if you want to win more of these referrals, you have to have a different plan. If you have the same plan as everybody else, you're going to get the same result as everybody else. It's just as simple as that.
What we're going to do is we're going to take you through the life cycle of the patient. I'm going to start with some charity stuff and I hope to have Jerry on here to discuss some of these from that first phone call. I hope to have some people on, maybe Joey, come on talk about the front end, like how you are presenting your business before they ever reach your business.
How are you presenting your business? How is your business coming across to them? What are you saying about your business before they ever come there? The first phone call, what's being said there and what kind of experience you're creating?
Then we're going to go through the in-clinic process, the way you go about nurturing these people, identifying them, and turning them into future word-of-mouth referrals. In this process, there's a bit to it, but it's a lot more simple than you would think.
This is human interaction. This is all this is. We want to connect people who connect with us. And we connect with who are going to support us, and we're going to support them. It's pretty simple guys.
If you believe somebody cares about you, you're going to intern care about them. This isn't rocket science. It's the most basic thing in the world but you've got to go out of your way to let them know that you care.
You've got to go out of your way to create something that says to the other person, “Hey, look. You matter to me. You are important to me. You are so important that I took action on something you told me that you didn't think was that important to you but I heard you and I took action.”
If you can do this with every person, it will be the best thing that your business has ever done. It will grow your practice more than anything else you could ever possibly do. The gold of your practice is in the mind of your customer.
If you can get into their mind and you can create this experience, create this feeling, and this emotion about your business, it is what is going to make your business go viral.
I've used an example and I’m going to use it again. I thought, why did iPhones go viral?
Blackberry had a touch phone that had apps they weren't quite as good as the Apple apps. But why did Apple go viral? What was it when Blackberry had a similar touch phone? What was it that made them go viral?
Blackberry had more money and they had more market share. They were way further ahead of the curve than the iPhone. But why did the iPhone take off? What was it that made it take off?
We're going to kind of get into that. How this works, how the pressure from one person into another or a group of people on you becomes too much?
And then you yourself convert. That's how you get these people that are laggards.
I don't know if you've ever seen the curve. So, there's a curve, you get your early adopters, your middle adopters, there's different things within the middle, and then you get your laggards or your late adopters.
These are the people that don't have a rotary phone. And the only reason they don't have a rotary phone is because they quit their cellphones or they installed a rotary phone on the wall.
But how do you get them to adopt other than erasing the market? How do you get those people to adopt? What makes them move?
We'll discuss how that social pressure becomes too much for them, and the people that don't want it become adopters then eventually start advocating for it.
How does that happen? How can you nurture this?
How you can use this in your practice to turn these people that are just are just warm, they'll show up in the stark raving mad fans that are going to tell everybody about you. The systems that we're going to employ will keep them in and married to your business the whole time so that they don't forget you and they keep talking about.
The question we just asked in the group about how do you do this email, text message, somebody put direct mail -- mailers, newsletters, anything like that -- there's a number of methods to doing this. The more genuine and the more heartfelt it is, the better connection can have with the other person, the more likely they are to refer to you.
There's another thing that happens and this is kind of the reason I don't like direct mail quite as much as other things. I mean, it's going to work. So if you're doing its work for you stick with it. Because if somebody doesn't like you, the last thing you want them to do is to remember you.
So they're on that Net Promoter Score. How likely are you to refer a family or friend to us on a scale of zero to 10?
If they give you a six or below, you want those people to forget you right now. The sooner they forget you, the sooner they're going to stop going out and badmouthing you to everybody they know.
We don't want to send them a mailer. We don't want to send them an email. We don't want to send text messages. We don't want to send them anything. We want them to forget all about us, because you can only lose money by marketing to those people.
Let me repeat that pretty stinking important: you can only lose money by marketing to the people that don't like you. You market to people that don't like you, you will just remind them that they hate you.
And so, they're going to run out and tell their friends how terrible they are. And if there's any discussion about physical therapy or therapy, they're going to come out there and say, “Oh, I can't stand…”
So those people, we want them to get us as soon as possible. We want them as much done as possible to cool off, to get back to that neutral territory where they've forgotten about you.
That’s a pretty big thing. I don't like marketing to what he calls detractors. If you market to detractors, you're going to lose business because well, they're going to talk bad about it.
But if you know who to send this to, if you can identify and extrapolate out the people that love you now. When you're doing direct mail with them now, it's going to be far more effective.
But the shotgun approach is an old marketing technique. The shotgun approach is just thrown out there and everybody throws that crap against the wall and sees what sticks. That's old marketing.
In new marketing, now we can dial in. We know who we should ask for the referral. We know who we shouldn't ask for the referral. We know who we should just simply ask the comeback and we know who we should avoid like the plague because they're going to ruin our business if we keep asking them.
This is what we're going to go over. It's going to be in the coming weeks. We're going to start to really develop this out. We're going to start teasing this out.
I'm going to try to make it a 8- to 10-part series on this so we're going to cover one topic out of it. I'm going to give you some tricks, some tips, some ways that you can go about really developing this and growing it.
This is just kind of an introductory thing today. I just want to hop on here, talk to you guys, explain what we're doing, how we're going to go out this, and some of the people that I want to have on. I'd love to have Dave on again. Great stuff out of him and his Cash group.
We're going to go over some tips, tricks, and ways that you can turn your word-of-mouth on fire, the way you can use your word-of-mouth to make your practice go viral. It is the biggest leverage point in your business.
It’s about time you start having some strategies, some methods, and some ways of going about cultivating that portion of your practice: how to automate that part of your practice, how to turn it on fire, and how to make it so that this year, you achieve all of your financial goals, and ultimately, your personal goals. That's what it's all about.
Those of you who tuned in, thanks for tuning in. If you would like to be tagged, comment “me” below. For questions, put them down below I’ll gladly answer them.
I want to thank you guys for tuning into the PT Business Builder Show where we believe EMRs suck, that systems and software should actually improve your practice and your life and not consume it. Here, the only measure of success are systems and software that give you the time to enjoy your life and that financial freedom to do that.