The average physical therapy practice spends hundreds of thousands of dollars a year in marketing and referral generation with doctors and patients. The goal is to advertise continuously to remain visible and develop a base of loyal patients.
It’s important to remember that the cost of acquiring a new patient is enormous most physical therapy business owners don’t realize that they should be in the business of generating a list of prospects and patients and not just trying to get new patients.
In most cases, physical therapy management focuses on spending marketing dollars to reach more new patients even though a majority of physical therapy business success comes from a small fraction of your patient audience and referral sources.
So the question is why spend your time and marketing dollars to attract new patients from referral sources who don’t know you (and are very unlikely to refer to you) when there is a much easier and less expensive way to grow your practice with your existing patience base, local businesses and organizations to help you grow your practice?
The best part is you can do so at a fraction of the cost of trying to acquire new patients.
Keep in mind here that we’re not talking about taking clients away from other businesses but adding more value to the existing clients by offering them high quality physical therapy, injury prevention and wellness services.
This is called a local business joined endorsement. One company allows another company to deliver a sales and marketing message to their clients.
Things like this happen all the time.
If you have a visa, MasterCard or American Express card you may have noticed all the other products and services that are advertised in your bill when it arrives each month.
When you participate in a local business joined endorsement as the ‘endorser’ you are boosting the profitability of the local business.
You can expect that that local business would do the same for you and drive more patients to your practice.
The best way to identify a local business joined endorsement relationship to complement your physical therapy marketing efforts is to identify individuals who already have a strong relationship with their clients
It’s also important that those businesses be noncompetitive with each other. They should also provide a related product or service that can benefit your patients.
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Tags: marketing physical therapy, physical therapy business, physical therapy management, physical therapy marketing
Leave A Reply (11 comments So Far)
Steve
777 days ago
Will try this for sure
rose
760 days ago
This is definitely true. It's not like we're stealing clients from other businesses, but those people will come to your doorstep if they received high quality service. Which in fact is a great factor in growing one's practice.
andrew
760 days ago
If not for this post I will not have realized that joined endorsements really does work. I receive my statements for my credit cards and they do exemplify what was written here. You had definitely awaken my senses.
lisa
760 days ago
It's like a give and take relationship, one business will promote the other and thus resulting in high revenue. This is typical in almost all of the businesses nowadays. A good example of complementing the service they have and at the same time attracting more people for profit.
luke
760 days ago
We need to be aware of what are we putting ourselves into. Therefore, the priority must be in generating a list of patients that will be loyal as stated. It's just that I can't help but to get my focus diverted on the mere fact that we are to have new patients that will propagate income. I will consider your word and hopefully it will turn out just fine.
eric
760 days ago
Thanks so much for your guidance, I was able to keep up with the changes in my business and maintain stability. As I always say to my colleagues, it's good to know that someone is out there for you, not knowing you personally but is willing to share everything so that all of us can excel and achieve our goal. Will be looking forward to more of your fantastic posts!
michael
760 days ago
I was reluctant at first to visit your site but because I am very eager to have more knowledge in all areas that will help me and my business, here I am hooked up to reading every post that you have. I find it simply amazing because you are able to cater all my needs in this field. I fervently hope that you will continue writing for everyone else to appreciate your magnificent work. Thanks!
tina
760 days ago
Wow! This is so applicable to my business. I do appreciate your views and insights. I even recommended your site to my family and friends because I am confident that they will also come back for more of your admirable work and great effort.
tyra
760 days ago
You never disappointed me even once. I'm so glad that you keep on coming up with new methods and strategies to further our business. Kudos to you my friend!
mike
760 days ago
High quality service will yield loyal customers. That is proven to work, well it certainly worked for me. It is coexistent in a business and so is marketing message.
kyle
760 days ago
I'll bear in mind that a business must be noncompetitive with each other. Not unless I want to jeopardize my profit. Your solutions here are very appropriate to my needs. Thanks a lot!