Your consultations are the little hinges that swing open the floodgates to practice profits - even incremental improvements can lead to huge increases in revenue.
How rusty are your hinges?
The fact is, your consultations require constant attention and care to maximize your revenue-making potential. Relentlessly improving your consultations should be your #1 priority.
If in your mind your consultations can’t be improved, you have already lost because you no-longer have a mindset of continuous improvement.
Your consultations are never perfect and they can always be made better
My consultations are far from perfect and I am working everyday to improve them. It’s the mindset of focused effort and continuous progress that matters most.
If you’re still not convinced that you need to put more effort into improving your consults, here’s a little scenario of how powerful incremental improvements can be…
Say you’re currently performing 10, 1-hour consults per month and you’re converting 50% of these consultations into treatment packages averaging $2000 each. Your monthly income from these consults would then be (10 x .5 x 2000) = $10,000.
Now what if you started to more aggressively offer full consultations to people already coming into your clinic right now? Instead of just performing 1-off treatments, you recommend people come back for a full consultation so you can give them a complete assessment. Let’s say from doing this you go from 10 consults per month to 14 per month.
Next, what if you improved the quality of your consults by offering a more complete selection of what you have to offer? For example, you start to offer Botox for neck line treatment and filler for hollow temple enhancement. By being more thorough, you added just one more syringe of filler and one more area of botox for an extra $900.00 to each converted consult.
Finally, what if you improved your conversion rate from 50% to 60% by improving the educational quality of your consults, and providing better proof of the results with B&A photos for each treatment mentioned? You now convert 60% of the 14 people which is an increase from 5 to ~8 people purchasing a $2600 package each month.
By marginally increasing 3 metrics (consultation volume, conversion rate, and average sale), you have just increased your monthly income from $10,000 (5 x $2000) to $23,200 (8 x $2900) per month - an increase of $13,200 in monthly revenue.
These numbers are conservative and very possible. I have no idea what your current practice numbers are, but no matter where you are now, this proves that with just minor improvements in the volume of consultations, conversion rate, and average sale, you can dramatically improve your clinic’s gross income. Imagine what would happen in a year if you improved all these factors by just 2% every month!
How much additional revenue can you make if you improve any of these areas?