Welcome, welcome, welcome everybody to Top Line’s Live at Five. My name is Brian Devine and I am happy to have you with us today! Because we’re going to be talking about something that’s a little bit strange to hear at first. But I think you’re going to like what I’m talking about and that’s insurance for your practice marketing.
The reason that I am talking about insurance for your practice marketing is because just today and that’s why we’re running a little late today, I had to run out and pick up my wife because her car broke down. You know, first, it’s frustrating because you got to get out and I felt bad that she broke down and all these things. However, we have insurance in place so we had triple A. So that meant, that there was really no big problems. We were easily able to get somebody to come to it and we also have insurance on the car. So, if there’s anything else that goes wrong, there was going to be awhile. We have redundancies. Meaning, we can rent a car or we actually have an extra car and it means that even if this car happens to take a couple of weeks to get it fixed, which it probably won’t, is just a broken host. But, if it would take that long, we have something in place where we will still have cars. We’ll still be able to drive around and take the kids everywhere and all the stuff that everyone like, you know, you’re dealing with.
Then, it started occur to me that, okay, I feel pretty good that we have this in place. So, even though it’s a hassle. It’s really not that bad. So on a scale of 1 to 10, it’s like a 1 because of all these other things in place that got me thinking about sort of insurance for your marketing.
What I want you to be thinking about here is that there’s sort of two scenarios that we run into. Number one is when we have somebody that is in a market where they’re getting a lot of competition and they are now saying, “Oh my god. I’m losing patience. My practice is shrinking. I need help. I need your marketing to turn things around.” Well, we can do that and we can help. It’s just not as good of a time to start thinking about your marketing as it is.
When you do well, when your practice is growing, when revenue is growing, when you have more patients coming in because referrals continue to come in – that is when you get your insurance. When you start the heavy marketing because it is always easier to keep the flow, to continue to grow than it is, to stop the negative slide. Because what’s happening when you have that negative slide is attitudes usually are starting to go down in the office. So, when people call, it’s not cheering and happy. You have some downtime. So, if somebody comes in the office, it’s kind of empty. That doesn’t make them feel too good. You also are lower on cash flow.
So, if there’s an opportunity for you to take advantage of that might cost a little bit more but it’s got this great return on investment, you just need to come up with a cash. Now, you don’t have it and you start to sort of pull back. Instead of spending more on your marketing, you pull back. I know this happens, not just because of the clients that I work with because I’ve done it too and that’s all I do is marketing. But, it’s the same for all of us. We all have that mentality, that little switch that goes off in our brain. We start to pull things in instead of pushing things out.
I actually had a business coach years ago say to me something that kind of struck me and that was she said, “Sometimes you have to buy your way out of problems.” It really kind of struck me because I was looking at ways to cut here, cut there cut and when I stopped. I thought well if I can come up with this cash, then I can put it over here and get the cash flow coming back in. That cash will be paid for in, you know, six months or lessen if I had lots of cash. Somebody said if I gave them, you know, $100 and six months that turned into two, well I’d say how many hundreds can I give you? But, what happens to us is that when we don’t have the cash, when the cash flow is stagnant or going the wrong direction, we start not looking at those opportunities. We start looking at hoarding and that is the worst thing you can do.
So, I want you to start thinking about your marketing as insurance for your practice. I want you to think about the situation number two is that when you have a good marketing channel in place, when there’s some some avenue that is consistently bringing in new patients, put that on autopilot and start on the second avenue. Then, when that is working, put that on autopilot start on. The third, do not stop at the one because one is the loneliest scariest number in business because if and when that particular avenue of getting new patients stops or gets cut off because Google changes policies, Facebook changes policies all of a sudden, we can’t do every door direct mail programs anymore where we get postcards delivered extremely inexpensively but all sudden your your costs skyrocket. That’s why you want the insurance. You want to have two, three different avenues of bringing in patients.
Alright! So, that’s why I wanted to cover today. I want to make sure you were thinking about that. It just kind of struck me when I was thinking about insurance. We have that was really helping us today and then I thought about the insurance that you can have for your practice and the insurance that you can have for your marketing by having lots of avenues of bringing in new patients. Alright! I think I covered everything for you today. Let me know what questions you have. How we can help and support you and I look forward to seeing you next time on Top Line’s Live at Five! Bye for now!