Optimising your practice - Tim Caudrelier

As with any business, it is essential to have a well-thought-out marketing plan that will allow you to attract, capture and retain patients. Customer value optimisation (CVO) is one system that can be applied to dental practices to aid success. Consisting of seven steps, it can significantly simplify the process and help your practice to grow and prosper.

Step 1: Determine product/ market fit

Dentistry is a well-established sector that will continually be required by patients of all ages. However, it is important to choose the correct product or service for the market. If, for example, you are looking to offer a new orthodontic product or service in your practice, it is worth researching whether the market for the product will be sustainable.

Step 2: Choose a traffic source

Attracting interest from potential patients online will greatly optimise your chances of acquiring new clients, selling more products and services and increasing the frequency of sales.

With a number of options to choose from, it is best to focus on one traffic source, then once mastered add a second and third. The goal throughout is to drive prospects into the CVO funnel. This begins with the lead magnet.

Step 3: Offer a lead magnet

The lead magnet prompts a transaction of information by offering an irresistible bribe that gives a specific chunk of value to a prospect patient in exchange for their contact information. With the lead magnet at the very top of the CVO funnel, increasing opt-ins here will pay dividends throughout the rest of the system and allow you to provide more tripwire offers.

Step 4: Offer a tripwire

Tripwire offers are made to potential patients that have displayed interest through the lead magnet. The main aim of a tripwire is to change the relationship from prospect to customer through offers that individuals are unable to resist.

Step 5: Offer a core product

The core offer relates to your flagship product or service, perhaps implants, orthodontic or whitening treatment. In some cases, the core offer will be profitable, but it does not have to be. If you follow through on the CVO process, you could take everything you make from the core offer and reinvest it to acquire more patients.

Step 6: Offer a profit maximiser

The profit maximiser increases the average transaction value per customer. Through an upsell or cross-sell, patients will spend more during one transaction.

Step 7: Create the return path

The final way to grow your practice is to increase the number of transactions per customer. Having gained their contact information through the initial lead magnet, you will have the ability to continue marketing, offering them new lead magnets, tripwires, core offers and profit maximisers.

Effective email marketing is one way to maintain communication with patients and increase transaction frequency. The experts at 7connections have recently developed AIM – Automated Intelligent Marketing – specifically for small dental practices. Based on proven strategies, such as CVO, AIM can help your practice to reap the rewards of a clear and well-thought-out marketing plan.

Successful marketing systems can enhance a business and allow you to make the most of opportunities. Increase patient numbers, enhance the average transaction value per client and raise the number of transactions per patient with a well-thought-out marketing solution.

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