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How do successful practices convert referred patients and other leads into loyal and recurring patients? What are the key factors that influence an organization’s conversion rate and what metrics are most important when it comes to measuring outcomes? Dr. Pete and Dr. Stephen continue their series on ‘You Don’t Get What You Want, You Get What You Measure,’ by focusing on the second of four key business domains, Conversion. They analyze the 20/60/20 Rule and define what conversion means using their own practices as context. Finally, they speak to the importance of tracking total conversions and conversion percentage in order to determine the relative health of your business or practice.
00:45 – Dr. Pete and Dr. Stephen recap the topics they’ve covered in this series, read listener reviews and provide a great troubleshooting tool
05:46 – Dr. Pete and Dr. Stephen encourage listeners to attend their upcoming events
08:51 – Introducing today’s topic, Conversion
14:47 – The importance of taking responsibility for our conversion outcomes
17:55 – The 20/60/20 Rule
19:54 – Defining what initial conversion means
24:48 – The importance of tracking total conversions and conversion percentage
EPISODE QUOTES
“When we’re at these seminars and when we’re at these immersions, we’re training, we’re working, we’re growing. We’re growing ourselves. We’re growing our businesses, our teams. Everyone is walking away improving.” (05:46)
“Not everyone’s gonna be an understander, but everyone can be a believer. We want to be able to turn these seekers into believers. And this really happens at the conversion process.” (14:13)
“I just wanna recognize the extraordinary conversion rates we see in chiropractic. For most of us, what we are selling is a solution. We’re solving a problem. Our product, how people engage with us, is what would be considered a high price ticket item, product or a service.” (16:08)
“There’s not a life that walked through our doors that we’re not accountable for. And that’s our responsibility as a team and as an organization.” (24:03)
“We all know that the gold standard is the referred new patient. And that’s where you’re gonna see the greatest conversion percentages.” (29:13)
LINKS MENTIONED
Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business
