Marketing Metrics You Must Know For Your Practice

By Frank Gordon

When it comes to marketing your practice, one key area is to be able to measure all aspects of your marketing. If you don’t closely measure your marketing, you’ll never know what is working. You will also lose out on an opportunity to improve your marketing.
With measurement of your marketing, imagine the impact even a 2% monthly increase in the effectiveness of your marketing can have. And if you think a 2% improvement isn’t realistic, think again!
One easy way to improve your marketing is to test the headline for any of your advertisements. The headline is basically the ad for the ad. It has been shown that simply by changing the headline in marketing copy, the response and effectiveness of an advertisement can improve by as much as 1000%.
In conjunction with being able to measure the marketing metrics for your practice, you need to develop a scientific advertising mindset. Scientific advertising is something introduced by Claude Hopkins as far back as the 1920s. In fact, Hopkins wrote a book called Scientific Advertising. In the book, he explained how taking a scientific approach to your marketing, constantly testing, constantly refining can have a huge impact on your marketing results.
What marketing components of your chiropractic marketing should you be measuring. You should be measuring such information as:
1. Cost per new patient acquired- You need to understand your acquisition cost for a new patient. To determine your acquisition cost, simply divide your total advertising cost by the number of new patients you acquire.
2. Patient conversion rate- Conversion rate is determined by dividing the number of new patients you acquire by the number of prospective patients who consider your practice. By monitoring conversion rate, you can determine how well you are promoting/explaining your practice when someone is considering becoming a patient of yours.
3. Patient retention rate- What is the average length of time a patient remains with your practice? To determine this simply add up the number of months all of your patients have been with you divided by the total number of patients. In conjunction with this, to calculate you patient retention rate for the past year, simply divide the number of patients you have at the beginning of the year divided by the number of patients at the end of the year.
4. Website Traffic- If you have a website, the website is useless unless people come to it. One basic web statistic you should track on a monthly basis is the number of visitors who view your web site each month. This basic metric is one of about twenty website metric components you should review.
5. Average Time Visiting Your Site- Another web metric you should examine is how long the average visitor remains at your website. If the length of time is less than thirty seconds, for example, you can conclude that either you aren’t bringing qualified visitors to your site or the content visitors see when visiting your site is not of interest to them.
Knowing marketing metrics for your chiropractic practice is important. Why not start today recording key marketing metrics for your practice and reviewing these numbers on a monthly basis?

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