Nine Marketing ROI Stats That Might Surprise You

Is your marketing working?

In other words, is it generating business in a profitable way?

If your answer is “no” or “I don’t know,” then read on to find out why it’s important to have a clear understanding of your marketing return on investment (ROI) and its impact on your business.

First, let’s define marketing ROI: It’s the practice of attributing profit and revenue growth to the impact of your marketing initiatives. Simply put, if you spend money on marketing, it measures your return.

Now, let’s discuss why your marketing ROI matters. Here are the top three reasons it’s a critical element of your overall business strategy:

  1. You can identify any “red flags” or missteps in your current marketing strategy so that you can make the necessary adjustments to drive greater results. For example, if your call response rate for your marketing initiative is below the industry benchmark, you might need to reevaluate your target audience.
  2. You can make informed decisions about allocating your marketing budget and creating your marketing plan for the coming year. If you don’t know what works and what doesn’t, then you’re essentially gambling with your investment.
  3. You can analyze your ROI data and know for certain if and how much your marketing efforts are contributing to revenue growth.

Now that you understand why marketing ROI is important, we can dive into the fun part—the data!

We reviewed a year and half of data from a select group of practices and below are some insights and benchmarks we uncovered. Some stats might surprise you or, more importantly, motivate you to take a closer look at your own marketing strategy and reevaluate your plan for 2020:
  1. Direct mail still works— in 2018 and 2019, our practices sent out 525 direct mail campaigns, yielding an average of $1,320 in profit per campaign. Find out if your own direct mail campaigns are successful with our Direct Mail Calculator.
  2. Thinking about advertising in your local magazine? You might want to give that a second thought! With a high cost-per-campaign and a negative return, magazine advertising serves more as a brand awareness tool than a true opportunity driver.
  3. Patients routinely check your digital properties before picking up the phone. 421 digital campaigns resulted in 2,935 calls with a total profit of $1,058 per campaign—a whopping 502 percent return!
  4. Over half (55 percent) of our Associates’ referrals come from physicians. This is encouraging because patients that come from a trusted opportunity source are more ready to buy. So, keep working to establish relationships with physicians in your area!
  5. Five thousand direct mail pieces resulted in 15 calls and 6 appointments with an average response rate of 31 percent. Although this appears low, the industry benchmark for response rates is 0.25-0.50 percent.
  6. Wouldn’t you like to make two months’ revenue in just three days? It’s possible with the Consult Upgrade Program! A total of 32 upgrade events averaged $58,000 in total revenue.
  7. Did you know that 40 percent of co-op dollars available are currently going unused? Every co-op dollar spent results in $5.39 in revenue for our Associates. If you’re not taking advantage of your co-op dollars, let our marketing team help you use them strategically.
  8. Calling Out of Warranty (OOW) patients generated an additional $215,000 in profits for our Associates while calling Tested Not Sold (TNS) patients yielded an extra $86,000 in profits. So, pick up the phone! Or, better yet, let Your Patient Contact Center do it for you.
  9. Due to blank categories in our Associates’ practice management systems, there was nearly $1.7 million in revenue unaccounted for. Meaning, many practices don’t know where all of their revenue is coming from each month. Don’t be one of those practices — let our marketing team help you establish an organized process for labeling opportunity sources in your practice management software.

*Based on the Marketing ROI data from a select group of practices between Jan. 2018 – June 2019

Consult YHN’s Quarterly Marketing ROI Reports offer invaluable insights that ensure every marketing dollar spent today is growing your practice for the future. If you don’t already receive a report, talk to your Account Manager to find out how you can!

About the Author

Laura Kegelman joined Consult YHN in 2018 and currently serves as a Strategic Planning Analyst. Her diverse professional background includes supply chain, forecasting, and marketing. Laura holds a degree in marketing from West Chester University in Pennsylvania. When she’s not working, Laura loves exploring the city she lives in (Philadelphia) as well as traveling to new cities and countries.

How Healthy Is Your Practice? Let’s Do the Math!

Every year at your annual check-up, your doctor probably recommends routine lab work to ensure you’re in good health. Just like your doctor, you should be routinely checking your financials to monitor the health of your practice.

If your lab work comes back and reveals you have a high white blood count, low hemoglobin, or high cholesterol, you probably know that this is bad news and that you’re going to have to make some adjustments to your lifestyle.

But what should you be looking for in your financial data?

Overall, your financials will obviously tell you a lot about your practice, however, analyzing even just a handful of numbers and doing some simple math will provide plenty of insights. Key Performance Indicators (KPIs) are the specific measures we use to determine the health of a practice. We then compare your practice KPIs to the “benchmarks” or “industry averages” to identify any successes, concerns, or areas for improvement.

I know math can be scary for some people. Not everyone is a numbers nerd like me. However, math is the language of business and I’m going to help simplify it for you. Here are a few of the most important numbers you want to identify and understand what they mean:

Income/Sales – The amount made on selling products or services

Cost of Goods (COGS) – The amount it costs the practice for the items sold or services rendered

Operating Expenses – All costs associated with running the practice

Now we’re ready to calculate some KPIs:

Income COGS = Gross Revenue ($)

Income ÷ Gross Revenue = Gross Profit Margin (%)

COGS ÷ Gross Revenue = COGS Margin (%)

Gross Revenue Operating Expenses = Net Income ($)

Net Income ÷ Gross Revenue = Net Profit Margin (%)

 

NERD ALERT!
Operating Expenses can be further broken down to show the percentage spent on specific items like payroll, marketing, or rent. Talk to your Account Manager about getting a Monthly Financial Analysis for this level of detail.

Time to compare your answers to industry benchmarks! We find the most successful and profitable practices have KPIs in these healthy ranges:

Gross Profit Margin = 60-65%
COGS Margin = 35-40%
Net Profit Margin = 10%-15%

Remember to check your work: Gross Profit Margin % + COGS Margin % = 100%!

Now that the math is done and you’ve compared the numbers, it’s time to read the results. Obviously, the benchmark ranges are the sweet spot, but let’s define what it means to be outside those ranges.

Above Average is GOOD when its…
Gross Profit Margin – You are more profitable than the industry average
Net Profit Margin – After expenses are paid, your practice has a healthy bottom line
Below Average is GOOD when its…
COGS Margin – Your prices are set well; you realize a healthy profit on each sale

 

NERD ALERT!
Gross Profit Margin and COGS Margin have an inverse relationship. If you find that ether is outside the ranges described above, a Pricing Analysis from Consult YHN can identify areas where small adjustments could be beneficial.

Congratulations, you just analyzed your financials!

This is a great start in understanding what your numbers are telling you and identifying potential areas for improvement. By continuing to regularly track and analyze metrics such as Opportunity Creation, Unit Sales, Third Party Attendance, and Closure Rates, you can make the necessary adjustments to help more patients and increase revenue.

For a deeper dive into your practice’s finances, talk to your Account Manager about taking advantage of Consult Tracking. Our business analysts are industry pros when it comes to providing actionable business intelligence—from breakeven and territory analyses to compensation plans and monthly tracking reports. Consult YHN also has several tools that can help you track your finances, including Wake Up Call and the Pro Forma tool, which you can access anytime via Navigator.

Start evaluating the financial health of your practice today!

About the Author

Kimberly Costanzo joined Consult YHN in 2017 and currently serves as a Business Analyst. Her diverse professional background includes revenue accounting, internal audit, system support, and project management. She holds an MBA from Stockton University in New Jersey. When not working, Kimberly enjoys spending time with her husband Chris and her daughter, Gianna, either at the local playground or playing competitive matches of Go Fish. She also serves on her daughter’s school board and volunteers in the community to promote emergency awareness.

Best Practices for Tracking PPC Leads

PPC (pay-per-click) advertising is a great digital marketing option for those looking for fresh prospects, especially if your market is flooded with traditional marketing efforts. The problem is that online marketing efforts can be difficult to track in the office.

Some people will simply say “Google” or “I saw your website” when you ask them how they heard about you, but they may not know to tell you they saw your paid ad—or even realize that they clicked on an ad! Another issue is that there’s an added complexity if you are running other initiatives like direct mail. A patient may say they got the mail piece, but their phone call is tracked to an online initiative.

So what do you do?

There are two sides to the equation: how your digital marketing vendor should be tracking your PPC and how you track it once prospects reach your practice. Let’s start with the first—the best practices when it comes to how a vendor can track their PPC efforts:

  1. Landing Pages – PPC best practices include having a landing page related to your paid ads that feature a contact form that you can track to that specific page. What is a landing page? This is a simplistic stand-alone web page where a visitor “lands” after clicking your ad. This page is designed to have one single focus and for the audiology industry that’s typically to contact your practice. It should include enough information to be relevant to the ad but not a recreation of your entire website; less is more in this case.
  2. Form Submissions – By featuring a contact form on the landing page, visitors can quickly and easily send you their information. This form submission is emailed to the practice and can be translated as that visitor asking your practice to reach out to them. The quicker you can reach out to them, the more likely you’ll book a new appointment.
  3. Google Analytics This tracking effort is typically set up by your PPC provider but may be even more important if you’re managing this effort in-house, especially if you’re not using a PPC-specific contact form or call tracking. Google Analytics tracks an overwhelming amount of data and one of the most helpful tools is the ability to set “goals” which could be contact form submissions or smartphone click-to-calls. If you’re not using a landing page, you can track the number of visitors to the specific page you’re directing your ads to.

Ok, you’ve gotten the lead. Here’s how can you track those prospects in your office:

  1. Office Follow-up – Someone in your practice should be following up on any prospects, both from phone calls and form submissions, within 24 hours of being received during business hours. Checking your voicemail after lunch (if the office breaks for lunch) and first thing in the morning can ensure you’re following up with those who want to hear back from you. Also, often times, you can set up the forms to be sent to multiple people so that an FOP and management can get them. This way the FOP can follow up quickly and management has a “receipt” of the contact and make sure any tracking matches.
  2. Call Tracking – Call tracking can be incorporated on both your website and PPC landing page to optimize tracking. By using different tracking numbers on your website and your landing page, you’ll be able to track PPC-specific leads. Tracking all calls from your website is a generally good idea so that you can understand how many prospects are calling to make appointments and how many are current patients. Some call tracking providers feature a technology called “dynamic number placement” which is great to implement in your tracking. The idea is that the numbers on the website automatically change depending on where the site visitor has come from—meaning organic search, PPC ads, and even social media channels! In other words, you’ll be able to track incoming calls from all of your digital efforts, not just your PPC. Call tracking is also helpful when patients are calling the digital tracking number but indicate that they received a mail piece. You would attribute this call to your digital efforts because it’s the effort that spurred the person to contact the practice.
  3. Practice Management Software – Making sure your front office staff understands that you’re running PPC ads can be very helpful when it comes to tracking in your practice management software. This way, they’ll know to ask callers which initiative they’re calling from as well as which referral source to use. Also, call tracking can help ensure you’re listing the correct referral sources as it can help you differentiate between general “online” activity and PPC-specific activity.

Why is tracking your PPC important? For ROI of course! Because digital marketing is happening in real time and doesn’t feature tangible collateral for someone to save until they’re ready to act (like direct mail), it can provide a shorter buying cycle.

Still not sure how you can track your digital marketing efforts? Consult YHN can help! 

The Consult YHN Marketing team can translate reporting into actionable items and make suggestions on how to improve your current tracking efforts. We can also consult on your overall digital marketing strategy, including reviewing proposals, developing budget suggestions, and more.

Contact marketing@ConsultYHN.com to get started today!

About the Author

Rachel Atar joined Consult YHN in 2015 as Marketing Account Executive. With experience in multiple industries, Rachel has consistently helped small businesses navigate marketing for their end consumers. Prior to joining Consult YHN, she was Taylored Home Health Care’s Marketing Manager.

Database = More Qualified Leads: The Who, Why & How

Many of the practices that I speak to assume marketing is centered around bringing in new people. While that is a key component, that is not all that marketing is. The definition of marketing provided by the American Marketing Association states: “Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.”

Notice how “customers” are the first audience they call out? They are the easiest people to market to, yet practices tend to leave them by the waist-side.

Here are three reasons why you should be marketing to your patients:

  1. You have an established relationship with them. You already invested the time (and money) to get them in the door. Regardless if they purchased or not, you should want to maintain that relationship with them, so they continue to come back.
  2. Out of sight, out of mind. The hearing industry has evolved into a heavily competitive environment, so your patients are bombarded with advertisements from the larger, big box competitors that have the million-dollar marketing budgets. If you aren’t communicating with them on a consistent basis, they are more likely to go elsewhere.
  3. It is less costly. As opposed to marketing to the whole 65+ community, it won’t cost you nearly as much to mail something to your patients. It would be even cheaper if you sent them an email! The ROI is also much higher because you are marketing to more qualified leads.

Here are the facts*:

  • Compared to ads, inserts, digital marketing and traditional direct mail results, database marketing had the highest ROI – 99%!
  • 68% of completed appointments that came from a database initiative, converted to units sold.
  • Practices who ran an Consult YHN Upgrade event where they targeted their TNS and OOW patients, on average made almost $31K in profit – just from one 3-day event!

Here is what you can do:

  • Document where your patients came from and what the result was from their appointment. This will help you tailor your messages to those specific audiences. It will also provide insight into whether your marketing is working appropriately.
  • Devote 10% of your marketing budget to database marketing and implement it. This can consist of letters, birthday cards, postcards, newsletters, etc. These messages can either be delivered through the mail or the internet.
  • Execute fun events to get patients to come back into the office. You can do different things like a patient appreciation week, a wine & cheese night or even host Q&A sessions with both hearing aid and non-hearing aid users.

Here is how Consult YHN can help:

  • We can organize your database by establishing the correct referral sources and working with your practice management software on developing segmentation lists.
  • We can design any marketing piece that you want to send out to your database.
  • We can host your next Upgrade event.

All you need to do is contact your Consult YHN representative or the marketing team to get started. We will work with you to make your practice profitable by keeping it top of mind with your patients.

 

*These facts are based on the data that our Associates provide to us that is captured in Consult YHN’s quarterly marketing ROI report.

About the Author

Lindsey Pierangeli joined Consult YHN in 2012 and serves as the Marketing Manager. Previously, she held marketing positions with advertising agencies and worked on accounts such as Amazon and Coca-Cola. Lindsey graduated Magna Cum Laude from Johnson and Wales University.

SERP, Meta Data, SEM, CTR…what does it all mean?

You went to school to be a top-notch hearing healthcare provider, not a top-notch marketing executive, right?

Reaching your customers, however, requires you to engage digital marketing and the language that goes along with it.

Don’t stress yourself if you don’t know your site impressions from your unique visitors, or your bounce rate from your conversion rate — you have Consult YHN’s Marketing Department and this glossary of website/digital marketing terms to help you make sense of the information.

Website Design

Blog

A blog is a site page that features regularly updated content. That content could include office announcements/changes, event invites, and discussions about new device technology or health information.

Content

The copy, images and videos that make up a website.

Domain

The registered name of a website, purchased through a company like GoDaddy. For example, ConsultYHN.com, yourhearingnetwork.com.

Hosting

The “space” you rent on the internet where all the code and content (pictures, videos, copy) that makes up your website lives. A company such as GoDaddy must host your website for it be visible.

Keyword

A word or phrase that people use when searching for something online. Keywords are also the words or phrases included in a site’s content to increase search engine rankings.

Meta Data

Information built into the coded structure of a website that helps tell search engines what the site, individual site pages, images, and video are about. This can include meta-tags and meta-descriptions. Providing this information is part of the site design process and updating it can be a part of an SEO strategy.

Mobile Responsive

A site designed to automatically resize content and adjust to different screen sizes used across devices. The site would automatically resize to accommodate smartphone, tablet and desktop viewing. This is a must-have feature in 2017.

Platform

A reference to how a site was built. WordPress has become a standard platform used by many sites.

Search Engine

Website designed to provide a list of “results” based on the keywords searched. Google, Bing, Yahoo (in that order) are the three most used search engines.

SERP

Search Engine Results Page. The list of sites returned as answers to a search engine search. For example, if you were to search for “women’s suits,” you would want the search engine results page to list sites where you can buy women’s suits.

URL

The full web address of a website that is typed into an internet browser to access the site. For example, www.ConsultYHN.com, www.yourhearingnetwork.com.

Webmaster

The person who manages, and typically can make changes to, a website. If you use a “build-your-own website” platform like Wix, you are the webmaster. If you use a company to build your website or perform ongoing digital marketing, they may be the webmaster. Please Note: If you have a company managing your pay-per-click (PPC) advertising, they may not be managing your website.

Website Analytics

Analytics

The data and statistics about the users of a website and how they interact with the website. This can include the device they’re using, where they are, how long they visit the site, if they perform an action on the site (fill out a form), and some demographics.

Bounce Rate

The percentage of site visitors that leave from the same page they enter. For example, a person visits the home page and exits the site without viewing any other pages.

Conversion Rate

The percentage of unique site visitors who “convert” to leads. For an audiology practice, this would typically be someone who filled out a form on the site or called the office.

Rank

The place in search results where a site appears. This is determined by an algorithm (Google’s is considered the industry standard). The actual factors are secret but include keyword density (how many times keywords are included across a site), mobile responsiveness, content quality, and whether recent and regular content updates are made. The Google algorithm is updated about once a year.

Session

Can be interchanged with “visit.” Each time a site is viewed.

Site Impressions

The number of times a site was shown in search results.

Traffic

A total of how many people visited a website. This is typically broken into three segments:

  • Organic Traffic — Those who visited the site as a result of a web search. E.g., they searched for “hearing aids Philadelphia” and they clicked on your site in the search results.
  • Referral Traffic — Those referred to a site from another website. E.g., a person may visit a site from a Facebook link or clicked on a link to your blog, which you shared on your Facebook page.
  • Paid Traffic — Those who visited the site because they clicked on an ad.

Visitor

A person who visits the site. Analytics software will typically break this count into unique (first time) visitors and total visitors.

Digital Marketing

Ad Impressions

The number of times your paid ad is displayed with search results. This is dictated in part by ad budget and quality of ad (how well Google says it matches a search keyword)..

CPA

Cost per “acquisition.” The average cost per conversion..

CPC

Cost Per Click. The price paid when a person clicks on an ad. This is determined by a bid system and can vary widely based on factors such as geographical location, keyword competition (how many people want to buy a keyword), and time of day.

CTR

Click Through Rate. The percentage of ads that were clicked on.

Display ads

Image ads that are displayed on outside websites to people who have not been to your website.

Landing Page

A page visitors are directed to after they click on a paid ad. These are specifically built to encourage conversions and feature information specifically tied to the ad, a form, and a strong call to action. These pages can have a higher bounce rate than the rest of a site because they are specifically built to capture lead information rather than provide overall education.

Local Listings

A term for online directories that act like phone books, confirming a business’ NAP (name, address, phone number) across the internet. Google Maps is one of hundreds of public local listing resources online that search engines rely on to confirm information.

PPC

Pay Per Click. Ads that appear at the top and bottom of search engine result pages based on searched keywords. The cost is based on a bidding system and you only pay for an ad when someone clicks on it.

Retargeting ads

Also referred to as remarketing ads, they are image-based ads displayed on other websites, shown only to visitors of the original site. Have you ever looked at an item on Amazon, only to have an ad for that item shown on a news website later that day? That is a retargeting ad.

SEM

Search Engine Marketing. The broad term for continuing digital activities like search engine optimization (SEO), social media advertising, and pay-per-click (PPC) advertising.

SEO

Search Engine Optimization. The idea of using design and content to give a visitor the best possible user experience (menu order makes sense, images load correctly, mobile responsive), the most relevant information (developing quality content with relevant keywords throughout the site), and to obtain the best possible search results rank.

Social Media

Sites like Facebook, Twitter and Instagram that allow users to create and share their own content. These sites now also have their own advertising programs.

If you have questions about any of the terms in our glossary, need guidance to effectively market your practice, or don’t know where to start, please call us at 800-984-3272 or email us at marketing@ConsultYHN.com.

We exist to alleviate the stress and jargon associated with marketing your practice so that you can stay focused on helping individuals hear well.

About the Author

Rachel Atar joined Consult YHN in 2015 as Marketing Account Executive. With experience in multiple industries, Rachel has consistently helped small businesses navigate marketing for their end consumers. Prior to joining Consult YHN, she was Taylored Home Health Care’s Marketing Manager.

Online Chat: How to Start, What to Expect

For years, Apple, REI, Disney, and many other industry-leading companies have been using online chat to achieve superior customer experiences and increase sales effectiveness. Research shows that visitors who chat are 7.5 times more likely to complete a purchase than visitors who don’t chat. Chat also leads to greater customer satisfaction and more frequent repeat business, but is it right for professionals and private practices?

The theory behind chat is simple: Make it easier for potential clients to communicate with your practice, interact with a greater number of potential clients, and schedule more consultations and hearing tests. Though the theory of chat for your practice is simple, the practice of chatting professionally is difficult to execute. Is it worth implementing in your business? What are the costs and the benefits of chat? Should I manage chat in-house or outsource the management of my chat? What’s a budget-conscious way to get started?

Through our years of experience and testing online chat with more than 500 high-growth U.S. businesses, we have answered these questions and many more. Since our beta test period and launch in April 2016, we are now serving hundreds of businesses internationally and have used all of the data from our clients to compose these statistics. Our clients range from small rural one-provider, one-location practices to 15 provider practices in the urban core.

Adding online chat is simply a change in approach. Would you prefer clients leave without signing a contract, or would you prefer them to purchase today? Would you prefer your web visitors to be in control of calling you for a hearing test, or would you prefer to collect their information and have your most effective scheduler call them?

What Should You Expect?

Benefits

  • Interact with new clients outside of normal business hours and increase web conversions.
    • Because chat is more effective than a life-less, “Request an Appointment” button, you will convert more web visitors into new clients when your office is closed by live interaction with the client.
    • Our goal as marketers should be to meet the buyer where the buyer wants to buy.
  • Lower communication barriers help increase the frequency of communication with new clients on your website.
    • Our statistics show that 4-6 percent of web visitors are likely to engage with online chat.
    • Of the total chatters, over 40 percent will be new clients.
    • With an experienced and high quality chat agent, you can expect to collect contact information from 50-60 percent of those new clients.
  • Better organic search ranks due to longer user session duration.
    • When clients chat with your practice, they stay on your site for a longer period of time. Longer session durations lead to higher organic Google search results.
    • Because the average chat length is between seven and eight minutes, chatters are staying on your site longer.
    • Compared with the same period in the previous year, we noticed an average session duration increase of 10 percent.
  • Fewer current client calls to your practice during peak hours
    • Our client data shows that 61 percent of chats are taken from 10 a.m. to 4 p.m. CST., 19 percent are taken before 10 a.m., and 20 percent are taken after 4 p.m. By answering client questions during the day, your staff can focus their efforts on outstanding in-office client service.
  • Increase in client satisfaction.
    • Your office will be more accessible to clients throughout a greater portion of the day. When accessibility increases, new client satisfaction increases. Not only will new clients be impressed, current clients will use it during your busy days and while they are at work

Costs

  • Professionally managed chat is a financial investment.
    • If you chose to have a professional manage your chat service, expect the starting rate to be $99-399 monthly.
  • Increased website bounce rate.
    • We noticed a slightly higher bounce rate after installing chat on practice websites, however, the evidence suggests that the benefit of session duration outweighs the negative effect of the slight increase in bounce rate. We only saw increases in Google organic rankings after adding chat and never decreases.
  • (Potential) Client frustration for poor chat execution and framing.
    • Chat is easy to do poorly. If done poorly, clients get frustrated, staff get frustrated, and chat is ineffective.
    • Just like the phone, if your team has poor service, poor phone skills, and poor scripting, your phone conversations will not be effective.

How Can I Start?

There are three options for implementing online chat for your practice. 

  1. Outsource chat to U.S. professionals.
    • Chat agents who are well versed in the hearing process and nuanced differences between different treatment types will be more effective at answering chats. This will lead to better client experiences and more effective collection of new client information.
    • Additionally, if the agents know about your practice offerings, they can build value for your practice.
    • Hiring U.S. agents who work in-office is an effective way to control quality and increase chat effectiveness.
    • This option is best for offices without large call centers.
  2. Outsource chat overseas (most chat companies).
    • There are hundreds of options to outsource your office’s chat. Service can range from per minute fees to a flat monthly fee, however, be aware that these chat agents do not know much about audiology or specifics about your practice. They often chat for businesses in a variety of industries and countries.
  3. Manage chat in-house.
    • Chat software can be placed on your site easily. There are services that range from free (Tawk.to or MyLiveChat) to more than $100 per month (BoldChat, LiveChat).
    • This works best for practices with a large call center already established for extended hours.
    • It is difficult to reliably answer chats if it is not the staff person’s main responsibility.
    • Beginner mistakes to avoid:
      • Having a pre-chat survey.
        • Do everything you can to decrease new client barriers…that’s the whole idea of chat!
      • Making the chat box look “spammy.”
        • You want the box to look trustworthy, not like a cheap service outsourced from another country.
      • Not tracking your results.
        • Make sure you are keeping track of the effectiveness of your chat.
      • Believing your clients when you survey them about chat.
        • If you ask a client, “Would you have come here to the office if not for our chat?” he/she is going to say “Yes!” 100 percent of the time. No new client wants to admit that convenience of chat alone was enough to get them into your practice.
      • Not having a “pop-out” window.
        • Pop-ups are generally annoying and detract from the web page, so it is important that your pop-out is tasteful and looks like a real human is on the other end.
        • Pop-out chat welcome messages are responsible for starting productive chats 75 percent of the time.

When you boil down these details, you need to make sure that you are achieving a better ROI with chat than you could with another marketing activity. That’s the golden question we should always ask ourselves before making any marketing purchase: “Can I use these marketing expenses more effectively in another place or on another project?”

Here is the proprietary calculation we use to estimate the ROI for our future clients based upon our current client data collection:

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Please Note: The above calculation will give you a likely ROI to revenue. Keep in mind that this is with highly trained HearingChats Specialists. Each practice’s results will be different.

Just like direct mail, Facebook marketing, and Google Adwords are not for everyone, chat is not for everyone. When chat is implemented deliberately and correctly, however, it can be an extremely effective tool for driving revenue and “wowing” existing clients.

If you are interested in implementing chat on your practice’s website, whether you are looking for a professional service or you are looking for help getting chat setup in-house, feel free to chat on our website and our team will gladly offer complimentary help.

About the Author

Scott Hansen is the CEO of HearingChats, the world’s leading professionally managed chat service for hearing professionals. While achieving his master’s in Business Administration at the University of Missouri–Kansas City, he was awarded a certificate of achievement by the Regnier Institute for Entrepreneurship and Innovation for his entrepreneurial work. Scott has owned and managed some the country’s fastest growing privately held businesses. Feel free to contact him at 816-205-8009, or chat online at HearingChats.com.