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lifetime value

Dental Patient Lifetime Value

How to Find More Valuable New Patients

Do you know the average lifetime value of your patients? Knowing the value of your patients is critical. It’s vital in understanding how much you should spend acquiring new patients. It also helps to know how much to spend keeping your existing patients around. But what if you’re bringing in 20 new patients a month from Twitter and only 8 new patients from Facebook? Then it would make sense to spend more with Facebook, wouldn’t it? But what if the new patients from Facebook have a higher Lifetime New Patient Value? They would yield you a higher ROI.

Those new patients would be more valuable, and investing extra bucks into Facebook would offer the next return. Although you receive less new patients than Twitter, the distinction is huge.

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patient value

Acquisition Source

Not all advertising assets are going to supply equal great new patients! If you’re no longer monitoring your acquisition supply, you won’t be capable of discovering what you’re getting back. You would not be capable of tracking which leads are coming from paid advertisements or something like YellowPages or Yelp. Every CMS that I recognize lets you personalize your “advertising and marketing supply”. This is so that whilst you input the brand new patient’s facts into the system, you could identify “where” they got here from. So, do it! Don’t be lazy. Fill it in. The acquisition supply is a critical piece of information that your group must input into your software.

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patient lifetime value

So now let’s go over the metrics we mentioned earlier.

Average Care Acceptance  Amount:

The average dollar amount per accepted treatment.

Acquisition Cost Per New Patient:

How much you spend for each new patient you get.

Average  Per Patient:

The average dollar amount spent per patient.

Your next profits await!

Using these powerful metrics, you’ll be able to optimize your selling dollars, maximize your marketing decisions, and increase the Benjamins in your pocket!

So what is holding you back? Begin increasing your marketing potency and profit today! If you wish to create measuring and decoding the information easier, consider what dentist-marketing.net can do for you and your team today! Contact us below to see if you qualify for a 14-day FREE trial!

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