Have you ever thought about how you can increase your revenue? A great exercise in knowing where your best leads come from is to draw your sales funnel. What is a sales funnel you might ask? It is a way of looking at all potential patients which come in contact with your brand whether it be through advertisements, word of mouth or social media and seeing where you get most of your revenue. You can expect a few interactions or impressions to turn into paying patients depending on each channel.
So to draw it up, get a whiteboard or large sheet of paper. Draw a large cone. At the top, write all of the channels that possible patients can take to learn about your company. It may include email lists, website, your direct sales or referrals from current patients. Spend a little time guessing the number of interactions or impressions at the top of the funnel in each category and then how many become patients at the end. In some of those channels like your emails you will likely be able to see exactly how many people clicked your link. Where you have these conversion points, designate the stages when people become a more qualified lead. You should write the percentage of conversions in each channel in the funnel. It is more difficult to estimate areas like word of mouth leads but even getting rough numbers can help. It will prompt you to ask more questions. For example ask your best patients if they ever tell their friends about your clinic. This kind of qualitative data will help you because in reality you cant measure exactly how much interaction or time it takes from initial contact to having a patient.
The value of this exercise is to get you thinking about where your best patients come from and how you can best spend your time and energy to reach those patients. The next step is to analyze your funnel and see where you can take some action to improve conversions!
What will you work on first?
Material referenced from Hubspot.