The 3 Statistics Showing That You Don't Need More New Patients

[00:00:00] Hey, what's up? It's Aaron LeBauer. Welcome back to the podcast. Today, you're going to learn the three reasons or the three statistics that show you do not need more new patients.

[00:00:10] Okay, so this is definitely for you if you're new in business, but really this is more targeted to people that already have their business set up.

[00:00:20] You're already seeing patients. You've already been in business for six months to a year. This is going to be really important.

[00:00:27] If you're listening to this, I'm recording this at, I think it's November 1st, but this month is November.

[00:00:34] We're going to put out a Black Friday and Stocking Stuffer promo.

[00:00:39] If you already have a business, this is really vital for you to understand because it's the biggest shopping spending season of the year.

[00:00:47] If your business is new, like you're three months in and you're just seeing your first one or two patients, like, yeah, this is important, but don't get sidetracked with this strategy.

[00:00:55] I taught a Black Friday strategy in our mastermind a few years ago, and I even said, hey, if you're just getting started, you don't need to do this.

[00:01:05] Just sit in and listen and absorb.

[00:01:06] And people were like, Aaron, it didn't work.

[00:01:08] I'm like, because you've been in business for two months and you don't have any patients.

[00:01:11] You don't have an email list.

[00:01:13] So if you have an email list, if you have a list of past patients, you don't have an email list yet.

[00:01:19] If you've been in business for a while, this could be the key to unlocking tens of thousands of dollars worth of revenue in your business, especially if you want to get away from insurance.

[00:01:29] You want to fill your schedule and hire another therapist.

[00:01:34] You want to move from being in just a side hustle for the last six months to a few years.

[00:01:41] And like one of my clients, Alexis, Sam's had a cash practice side hustle for like three years doing somewhere between, you know, three to five, maybe two to three thousand, three to five K months ish.

[00:01:51] She joined her mastermind and went like the five to nine to 10 to 12 and beyond.

[00:01:55] Um, this is the key to solving a lot of these issues around low reimbursement, right?

[00:02:03] This solves the issue of low reimbursement from insurance because you get patients to come pay, stay and refer their friends.

[00:02:10] This is going to, uh, kickstart that.

[00:02:14] This is going to allow you to find the correct patients, how to get enough volume of patients willing to pay cash to transition fully to cash or get rid of a couple, um, shitty insurance companies.

[00:02:25] Like Blue Cross, Blue Shield, Aetna, United Healthcare, et cetera.

[00:02:29] Um, like I said, this is going to help you move from a side hustle into a full-time business and even, uh, and even just kind of feel comfortable getting rid of Medicare.

[00:02:40] Not, not the Medicare patients, but Medicare is a payer, um, and get rid of the headaches of billing insurance.

[00:02:45] So let me go over some stats.

[00:02:47] Uh, but before we do that, Hey, look, my name's Dr. Aaron LeBauer.

[00:02:51] Maybe you don't know me.

[00:02:52] Maybe it's your first visit to the podcast.

[00:02:54] Um, I've been a business owner for over 25 years.

[00:02:59] I started my first business in 1999.

[00:03:00] I built my first HTML website in 1995.

[00:03:06] I've been doing the internet and business and marketing for a long time.

[00:03:12] And there's some few stats, uh, that I want to go over with you.

[00:03:16] There's also a few, um, concepts and I'm going to teach you, um, like the, what is it called?

[00:03:22] The, I'm going to teach you the five, uh, day black Friday, um, promotion sequence in this, uh, in this episode.

[00:03:31] And so the other thing I want you to know about me is I went from being a massage therapist to a PT.

[00:03:35] I saw 43 patients in one day as a PT and I realized I can't just be an employee.

[00:03:39] Uh, it was like after a stable career as I have to go start my own business.

[00:03:43] I started a cash practice right away when, um, my CI and everyone around me told me no one's going to pay more than their co-pay for PT.

[00:03:50] Um, and, uh, 12, 13 years ago, 12 years ago ish, um, went from, uh, just conversing on Twitter and LinkedIn and in online forums to coaching clients.

[00:04:05] Um, and I built the cash PT blueprint.

[00:04:07] The whole cash PT movement is because I called my products, the cash PT nation.

[00:04:15] I have a large Facebook group, the very first Facebook group for, um, cash based physical therapists, cash PT toolkit.

[00:04:21] It was my first, uh, what am I?

[00:04:22] It was my second online product.

[00:04:24] I sold a blogging, uh, for physical therapist book, which didn't take off, but I sold like 30 or 40 copies.

[00:04:30] Um, and the cash PT blueprint, it, which is, uh, online course, which is 10 years old and the companion book, which is, I've sold 8,000 copies of since 2018.

[00:04:40] Um, so if you hear anyone talking about cash pay, physical therapy, cash PT, et cetera, one, I have a trademark on it because people copied my stuff.

[00:04:49] And two, um, it's because, uh, they came through this like world that, uh, I've created, um, which is really cool.

[00:04:58] And I never thought I'd be able to do that.

[00:05:00] Um, so if you're out there, uh, and you've learned something from me in some way and I don't know about it, let me know.

[00:05:08] Um, but at the same time, uh, I never thought I would get into PT and do this kind of thing.

[00:05:14] Um, so this has been really cool journey.

[00:05:16] So I want to share with you some, uh, stats and then some wisdom and then a promo plan.

[00:05:23] And, uh, I want you to put it into place or, um, or not.

[00:05:28] And, uh, let me know how it rolls.

[00:05:30] So here's the number one thing most people ask me is Aaron.

[00:05:36] I need more new patients.

[00:05:37] Where do I find more new patients willing to pay cash?

[00:05:39] Where do I find patients?

[00:05:40] I need more new patients.

[00:05:41] I need, I need new people, new people.

[00:05:43] And everyone's out there trying to get new patients.

[00:05:46] And I get it.

[00:05:47] Like I need more new clients and customers too.

[00:05:50] I want more new clients and customers, but there's this fallacy that you always need more new clients.

[00:05:58] You don't need more new clients.

[00:06:00] One, we need the right clients.

[00:06:02] And two, you've probably already got clients on your list that you can sell to.

[00:06:07] What's the real problem?

[00:06:09] The real problem that you're trying to solve for is the number of dollars in your bank account.

[00:06:16] My bank account is low.

[00:06:17] What you should really say to me is, Aaron, my bank account's not as big as I need it to be.

[00:06:21] What are three strategies I can use to fill it up?

[00:06:24] One of those is probably not going to be, let's go get some new patients.

[00:06:29] It's not the easiest thing to do.

[00:06:31] New patients is hard.

[00:06:33] There's a lot you need to do to get new patients and clients in the door.

[00:06:37] You want to fill your bank account?

[00:06:39] Let's do something other than go get new clients.

[00:06:41] New clients is more of a long, new clients, new leads is a longer term strategy.

[00:06:45] And I will talk to you a little bit about that.

[00:06:47] So let's talk about some stats.

[00:06:49] I went to Google, you know, like you should do.

[00:06:52] When you got a question, go to Google.

[00:06:56] And I've known these stats from a few years ago.

[00:06:58] They've been in some webinars, but I wanted to make sure I had them right or, you know, up to date.

[00:07:02] And they're basically the same as they were five years ago.

[00:07:06] So I went to the website was called outboundengine.com.

[00:07:10] You don't need to go there.

[00:07:11] I just want to give credit to where credit is due.

[00:07:13] I'm going to read off some stats that they have shared.

[00:07:16] Acquiring a new customer can cost five times more than retaining an existing customer.

[00:07:22] So as you know what, you go and run Facebook ads and you're going to pay $3,500 a month minimum, maybe $5,000 a month just for the person to run the ads for you.

[00:07:33] Or if you do it yourself, you're going to spend 10 hours a week doing it instead of treating clients.

[00:07:37] So 10 hours a week instead of treating clients is $2,000 a week.

[00:07:40] You shouldn't be running your own Facebook ads.

[00:07:45] Plus, you have to do ad spend.

[00:07:47] $5 a day is $300.

[00:07:49] So if you're already paying $3,000, why are you only spending $300?

[00:07:52] So we're going to spend a couple thousand bucks a month on running Facebook ads and maybe bring in two or three customers.

[00:07:58] And each new customer is going to bring in $2,000 Planet Care.

[00:08:02] And maybe at the end of the day, the customers cost you, your cost of acquisition for a customer is $1,000.

[00:08:08] They bring you $1,000.

[00:08:10] Okay, we're positive.

[00:08:11] The cost of your lead is $10 to $15 a lead.

[00:08:15] Maybe someone can promise to get you cheaper leads.

[00:08:18] That's difficult.

[00:08:19] So, but what do we need to do to retain an existing customer?

[00:08:23] We need to put in a nurture sequence, an onboarding sequence, and that software for that maybe costs you a couple hundred bucks a month.

[00:08:32] Three, 400, 500 bucks a month.

[00:08:35] Shoot, if that costs you $1,000 a month to retain your customers, $1,000 a month not per customer, to retain all of your customers, that's a smoking deal.

[00:08:46] So acquiring a new customer can cost five times more than retaining an existing customer.

[00:08:51] Okay, stat two.

[00:08:53] Increasing customer retention by only 5% can increase your profits from anywhere from 25% to 95%, depending on the product and service you're selling.

[00:09:05] So let's say you have a clinic.

[00:09:08] Well, you might be in the middle or lower end of that because to get more new people in the door, at a certain point, we're going to have to hire more team.

[00:09:18] Let's say you have a one-to-many online coaching business, whether it's fitness coaching, run coaching, business coaching, health coaching, etc.

[00:09:28] And I can scale it.

[00:09:30] Well, you know, like, you know, if I have a, if it's not selling a one-time thing, but I'm selling a monthly membership, well, the costs are minimal compared to the numbers of people I can enroll in it.

[00:09:42] So it depends on what are we selling widgets in your time.

[00:09:46] And if you're doing a lot of one-on-one time, it'll be a little lower.

[00:09:49] But shoot, if you spend $100 on customer retention and that brings in an extra $500 a month, well, dude, that's dope.

[00:10:02] If you spend $1,000 a month on customer retention and it brings you an extra $5,000 a month, that's $4,000 in without you acquiring a new customer.

[00:10:13] Next stat.

[00:10:14] The success rate of selling to a customer you already have is somewhere in the zone of 60% to 70%, while the success rate of selling to a new customer is 5% to 20%.

[00:10:25] Selling a second time, a second product.

[00:10:28] I mean, how many people listening have bought a second iPhone?

[00:10:33] Or how many people listening have gone back to Amazon a second time?

[00:10:38] How many people listening have bought a pair of Nikes and bought another pair of Nikes or, you know, bought a pair of Zeros or Lems or Vivo Barefoots and bought a second pair?

[00:10:50] Versus new customers who are a little sus, right?

[00:10:53] How many times do you go back to the same restaurant versus trying a new one?

[00:10:57] Think about it.

[00:10:59] Okay.

[00:11:01] 60%, 70%.

[00:11:02] So that's why also a lot of times we'll sell little small things.

[00:11:06] I'll sell a little small $10, $20, $100, $200 online product or course because once you buy something once, you're more likely to buy my next bigger thing.

[00:11:19] Similar in the clinic.

[00:11:20] And then get you into, you know, buy like a mini treatment, a mini session, a total body diagnostic, a Theracane, a Rumble Roller, etc.

[00:11:32] I mean, there's not as many products in our clinic and small services, but you're more like, once you do a plan of care, you're more likely to become a Wellness Warrior member for multiple years.

[00:11:43] One customer experience agency, this is what it says.

[00:11:46] I'm just reading it directly.

[00:11:47] One customer experience agency found loyal customers are five times as likely to repurchase, five times as likely to forgive, and four times as likely to refer, and seven times as likely to try a new offering.

[00:11:59] U.S. companies lose $136.8 billion per year due to avoidable consumer switching.

[00:12:07] Consumer switching is like, let's say you like Coke and then all of a sudden Coke does something and you now go to Pepsi.

[00:12:14] I don't know.

[00:12:15] But it's, but it's a, you're losing loyal customers is the thing.

[00:12:20] Companies lose billions of dollars doing that.

[00:12:23] American Express found 33% of customers will consider switching companies just after one instance of poor customer service.

[00:12:31] So let's say you go in and the first time is bad customer service, like going to the orthopedic surgeon's office or the mill PT.

[00:12:42] People are likely to leave.

[00:12:45] I mean, go look at the reviews and some of the PT practices that are more corporate owned.

[00:12:52] Physician owned, you'll find they're not that great.

[00:12:55] The private practices get much better reviews, but that doesn't make mean we're immune from bad reviews.

[00:13:01] I got bad reviews.

[00:13:03] But it's not because of poor customer service.

[00:13:06] Bad customer service.

[00:13:13] So those are reasons people are going to pay and stay.

[00:13:18] No matter what time of year you're listening to this, making monthly offers to your current and former clients and patients is vital.

[00:13:27] Like you should be making monthly offers and promotions to them.

[00:13:31] You know, there need to be, they need to be built in and automated.

[00:13:34] And then there can be something brand new, like every month, like, hey, because it's physical therapy month, we're going to give you a discount on this thing.

[00:13:42] Or, hey, because it's summer, everyone who signs up for our summer slam program is going to get a something, you know, gift card, a gift certificate, a thing to share with their friend, a special promotion or a bonus visit or whatever you're selling.

[00:13:59] Okay.

[00:14:01] Right now I'm making this Black Friday is in the future.

[00:14:06] But you know what?

[00:14:06] There's going to be a Black Friday next year, too.

[00:14:08] Let's say you're listening to this in January.

[00:14:09] There's going to be a Black Friday next year.

[00:14:11] But between now and Black Friday, there's a lot of other things we can do.

[00:14:14] But just think about this.

[00:14:15] On Black Friday, and look, I got these from Google, but it was wisernotify.com.

[00:14:21] I don't know.

[00:14:22] This is where these stats were.

[00:14:25] Really, in essence, you need a five-day Black Friday promotion.

[00:14:30] And if you've got a brand new business, like you're three to six months into business, unless you're seeing 10, 15 people a week, if you're in the single digits a week, you don't really need to do this.

[00:14:44] You almost don't have enough volume, you know, enough people on your email list to make the effort worth it yet.

[00:14:50] But this would be a next year thing.

[00:14:51] But you really do need a Black Friday promotion.

[00:14:54] You could do this to the four or five people that are, you know, coming to see you.

[00:14:58] But there's probably other things we need to focus on first.

[00:15:03] So in 2023, Black Friday sales in the U.S. reached $9.5 billion.

[00:15:10] That's a lot of money.

[00:15:12] Around 124.7 million people shopped online during Black Friday weekend in 2022.

[00:15:19] So it's not just Black Friday.

[00:15:20] It's Black Friday weekend.

[00:15:21] And then there's Cyber Monday.

[00:15:24] Global Black Friday online sales were over $65 billion in 2022.

[00:15:30] In the last few years, about 25% of Black Friday online sales came from mobile devices.

[00:15:34] So 25% of people are buying from mobile devices, not just in person and definitely not on their laptops.

[00:15:43] The average discount on Black Friday in 2023 was about 31%.

[00:15:47] So what I'm not saying that you need to go and discount your PT services 30% or 50% or make them so low that it totally devalues your service, your expertise, etc.

[00:15:59] We need to make it feel like an amazing deal.

[00:16:02] And the way you do that is we value stack out the deal.

[00:16:05] We give a discount, but we value stack out.

[00:16:09] We add value to the deal.

[00:16:10] And what that means is we add value that already exists, like priority scheduling.

[00:16:17] That already really exists because you call Dr. LaBauer, you get Dr. LaBauer, Dr. Williams, and you get priority scheduling.

[00:16:25] 64% of consumers will shop online this Black Friday with 36% seeking deals on social media.

[00:16:34] Right?

[00:16:35] Social media.

[00:16:39] So let me outline what a Black Friday promo looks like.

[00:16:42] I've done a few of these in the past.

[00:16:44] I mean, I've done a lot of them in the past.

[00:16:47] I've done it for the clinic.

[00:16:48] I've done it for my coaching business.

[00:16:50] Some years it works better than others.

[00:16:52] You know, like 2020, 2021 worked better than 2022.

[00:16:58] And in 2023, I came back and did a different deal.

[00:17:01] Where was it?

[00:17:01] 2022?

[00:17:02] Maybe it was at 2019.

[00:17:05] There was a year where it didn't.

[00:17:07] And then it was 22 and 23.

[00:17:10] Last year, 23, I didn't do one.

[00:17:15] But in 2022, I did a $1 deal.

[00:17:18] In 2021, I did that.

[00:17:19] In 2020, it didn't work.

[00:17:21] That's right.

[00:17:21] 2018, 2019, I crushed it.

[00:17:23] Then the pandemic came in 2020.

[00:17:25] No one paid for the high ticket offer that I had been doing.

[00:17:29] I was like, yeah, people do it.

[00:17:31] It's still the whole enchilada.

[00:17:32] And then we changed up the deal and I did a $1 deal.

[00:17:36] I did that twice.

[00:17:38] And then I did that in 2021 and 2022.

[00:17:42] And then last year, I didn't do it.

[00:17:44] Because I was like, you know what?

[00:17:45] It was really difficult.

[00:17:47] And I'm just not going to do it.

[00:17:48] It was probably a mistake.

[00:17:49] I just didn't have the time, capacity to come up with something.

[00:17:52] The clinic, we've run a BOGO deal, which is really awesome.

[00:17:55] Especially if you have a service that's like fitness, massage, Pilates, wellness.

[00:17:59] It's a buy one, buy one for yourself, give one to a friend.

[00:18:02] Kind of a gift thing.

[00:18:04] Also, you know, Derek Nielsen, who was our first Cash PG resident, he's run it where you

[00:18:10] buy a gift card and a package.

[00:18:12] You get, you know, you buy a package.

[00:18:13] Existing clients buy a package and they get gift cards.

[00:18:16] And so we're going to run a combination of the two this year.

[00:18:19] In the clinic, we're here basically, it's for existing clients or former clients.

[00:18:24] When they buy a, like a chunk of visits.

[00:18:29] And this isn't really for new people because new people, I don't know how many they need.

[00:18:32] But when you buy a chunk of visits or you join our Wellness Warrior program, you're going

[00:18:36] to get some gift cards.

[00:18:37] You're going to get some clinic swag.

[00:18:39] You're going to get some other valuable items.

[00:18:40] And I'm going to stack it out.

[00:18:44] And they're going to get a, like a free TBD card to give to a friend or family member as

[00:18:48] well.

[00:18:48] So I'm going to build in a little bit of a referral there.

[00:18:51] And we're going to run a five day email sequence.

[00:18:54] And let me tell you how we got to do it.

[00:18:55] We got to warm up the list.

[00:18:57] We got to let them know this is coming.

[00:18:59] We're also going to let them know.

[00:19:02] I'm probably going to send that on Monday or Tuesday.

[00:19:04] And then the day of Thanksgiving, I send a gratitude email.

[00:19:09] And then Friday, I'll send three emails.

[00:19:11] Like the deal is on.

[00:19:13] Number two is reminder of the deal with a testimonial.

[00:19:16] Number three is, hey, the deal goes away.

[00:19:20] And each one of them is going to have a link to go to a landing page with the deal and a

[00:19:24] checkout.

[00:19:26] Optionally, I could extend that through the weekend or I could resurface it on Monday.

[00:19:31] I can do a lot of things like that.

[00:19:32] But we definitely need a deadline and a limit.

[00:19:34] And maybe there's only 10 available, etc.

[00:19:38] But each email needs to have a CTA.

[00:19:41] The CTA of email number one is, hey, this is coming up on Friday.

[00:19:45] The CTA of the thanks one is like, you know, reply here.

[00:19:50] Let me know what you're thankful for.

[00:19:52] Or comment below.

[00:19:52] Let me know what you're thankful for.

[00:19:55] And then don't forget about the sale tomorrow, etc.

[00:20:00] So that's kind of how we're going to do it.

[00:20:02] And that's going to be like a Monday, Thursday, Friday, five emails.

[00:20:06] Like I said, we can extend it over the weekend.

[00:20:07] You can send an email Saturday, an email Sunday, and three emails on Monday for Cyber Monday.

[00:20:13] And I've done that most years.

[00:20:16] But that day, it's an extra step.

[00:20:21] Beyond just the emails, you need an online checkout system.

[00:20:24] You need a thank you page, a confirmation page, and a follow-up email.

[00:20:30] And sometimes if you really want to do something dope, you can have a one-time offer to get another package or something else.

[00:20:40] That's in general how to do it.

[00:20:41] And that sounds like a lot.

[00:20:43] And I'm like, hmm.

[00:20:45] You might be like, oh, Aaron, you know, okay, great.

[00:20:47] So what you need is you need to put together your offer.

[00:20:50] You need to put together your emails.

[00:20:51] And then we need to have the system to make the sales, to follow up with people, to get them to refer, and the email out.

[00:20:58] And if you'd like some help with that, or you'd even like me to write the emails for you,

[00:21:03] and even set up a landing page for you and thank you and help you write out your offer,

[00:21:08] and value stack out your program, your prices, etc.,

[00:21:12] then we should hop on a call and chat.

[00:21:15] You can go to callwitharin.com.

[00:21:17] Because we're rolling out a Black Friday special,

[00:21:20] and we've also got a stocking stuffer promotion coming up in December that we're going to give to our clients.

[00:21:27] Because over the holidays, people start to kind of fade,

[00:21:33] or they cancel their appointments because they have to go make turkey, or stew,

[00:21:38] or a Christmas cake, or chicken, or something for the family.

[00:21:42] And we want to leverage this time where people are willing to spend and give to others

[00:21:49] for our own businesses and for ourselves.

[00:21:52] So we can get more people.

[00:21:53] We get more people on our list, more referrals.

[00:21:55] We're really getting...

[00:21:57] The stocking stuffer promotion is teeing us up for a big January.

[00:22:02] Not only are we helping our clients buy things, we're getting new clients in the door.

[00:22:06] We're teeing up for January when everyone wants to take care of their body.

[00:22:10] And with the Black Friday promo, we're bringing in more cash now.

[00:22:14] And so it's a cash now from current clients.

[00:22:19] Referrals tee us up for January, and we'll drop a January promotion.

[00:22:22] A new year, new you type of promotion.

[00:22:25] So if you'd like us to help you get this set up and take a lot of the heavy lifting off for you,

[00:22:31] and give you these promotions, and even give you a monthly marketing promotion,

[00:22:35] you might be a great fit for our PT Marketing Machine Accelerator program.

[00:22:39] This is a new program that we've put together where we're doing monthly marketing drops.

[00:22:43] We're setting up with the systems, the emails, the software,

[00:22:47] and the backend help implementation that you need,

[00:22:51] training on all the monthly marketing drops and monthly master classes and trainings.

[00:22:59] But first, what I need to do is figure out if your business qualifies

[00:23:03] and if we can actually help you.

[00:23:05] Because if you want us to give you these exact scripts, emails, texts, and systems,

[00:23:10] I'm not going to give them to you if you're not going to use them,

[00:23:12] and your business doesn't qualify and you don't have enough people,

[00:23:15] because it'd just be a waste of time for both of us.

[00:23:17] But we will help you install it directly in your business.

[00:23:19] And this done right, in the right way, should add a minimum of $5,000 in new patients

[00:23:25] and revenue from existing patients by the end of 2024, if not more.

[00:23:31] So if that sounds interesting to you, let's hop on a new patient strategy call

[00:23:35] to see if your business qualifies and we'll start to make a plan

[00:23:39] and build a marketing plan on how to get there.

[00:23:41] So you can go to callwithaaron.com and book in a time,

[00:23:44] or you can message me over on Instagram.

[00:23:47] Just message me the word Black Friday over on Instagram.

[00:23:52] And I will make sure that we hop on a call.

[00:23:54] And by the way, if it's January and you hear this,

[00:23:57] just message me the word Black Friday too.

[00:23:59] And I'll send you the details.

[00:24:01] So we can hop on a call.

[00:24:03] And just, it's a free 15-minute call.

[00:24:05] All we're going to do is make sure we're going to check in, get to know each other.

[00:24:09] I'm going to figure out where you are now, where you want to go,

[00:24:11] what are the bottlenecks and opportunities,

[00:24:13] and see if we're a good fit to work together.

[00:24:15] And if we are, if it feels like we're a good fit to give you these systems

[00:24:19] and set this up for you,

[00:24:20] we'll book in a second time to talk about how

[00:24:22] and go deeper into building a strategy

[00:24:25] before I ever make an offer to you to work together.

[00:24:28] So go to callwithaaron.com

[00:24:30] or shoot me a message over on Instagram with the word Black Friday

[00:24:33] so I can get you this Black Friday promo.

[00:24:35] And I'll see you on the next episode.

[00:24:36] Peace.