Similar to our Clinical Pearl Wednesday and new Finance Tip Friday, the Elite Nurse Practitioner is proud to begin a regular Monday “Marketing Tip.” The goal of these tips will be to help every nurse practitioner entrepreneur successfully market their practice more efficiently and with more effectiveness. Remember, marketing is the number ONE function of your practice, and it should be one of the BIGGEST EXPENSES in your business. It is critically important to your practice’s success, which is a reason I am delivering this to the Elite Nurse Practitioner readership. So, tip number one:
Obtaining new patients, clients, and/or customers can get expensive. Your cost for each new customer acquisition is going to be more expensive than just marketing to your established patient/customer base…
Remember, promoting and selling to your established patient base has a higher return on investment than obtaining new clients. Why is this? Because they are an already established patient and you know what they want, plus it costs practically nothing to promote directly to them.
So, instead of spending thousands upon thousands of dollars obtaining new patients and/or clients, use your marketing budget, time, and energy to capitalize on your established patient base. Increasing the revenue you obtain from each established patient will pay off FAR GREATER than spending money marketing to new patients! Simply promoting an additional service to your established patient base will increase your profits and it will cost you little.
A great way to do this is to simply create an email list of your established patients and send out mass emails to them promoting a new service. You can use email marketing platforms like AWeber or MailChimp for this very cheaply!