• Doctors CFO

What are the Top Priorities of the Practice Owner? Part 3

Updated: Oct 25, 2019

"Building a Winning Team" was the focus of our last blog post. Our poll asked "Are you delegating all tasks that DO NOT require your expertise?". Eighty percent of poll participants said "No". Part of having a great group of employees means being able to delegate as much as possible to mid-level providers and office staff.

This post is about the owner providing their unique vision to serve as the focal point of all marketing strategies. First, the importance of marketing for your business must be recognized. It is the vitality of your business and effects everything you do. During our series of posts regarding office manager duties, we emphasized "Leading the Marketing Effort". Owners may be able to delegate most marketing functions to their office manager and other business partners, but they must first "own" and "share" their story. Depending on levels of success, marketing strategies evolve individually over time, but the owner's fingerprint must always be apparent in marketing actions.

Marketing: Lead with Your Story

Know Your Story

  • Your story is what makes you unique and special to clients.

  • Know Your Audience

  • This sounds simple but the more you narrow in on your audience the more effective you can speak to them.

Be Consistent

  • Because Marketing is the lifeblood of your business, it must be done every day. Write one blog a week and post to social media several times weekly.

  • Outsource Technical Help

  • You should use professionals to help make your story look awesome. However, you must fiercely protect your "story" and don't let anyone else take ownership of it.

Track Results

  • Know what channel your marketing is coming from (Location, TV, Social Media, Referrals from Doctors, Patients and Insurance Companies, Radio, Print Media, Internet Searches): Focus on Internal Marketing Efforts 60% if not more.

Track Spend

  • Know what it's costing you by channel for each source.

Whether you are just beginning your journey as an owner or have an established practice that has brought you years of success, marketing your business is an essential duty that can only be started with the owners story.

To participate in this week's poll "Are you tracking your marketing efforts?", please subscribe or visit our Facebook Page.

We hope you are enjoying these articles and are passing them along to other practice owners and office managers. If you have a question that you would like answers to in a blog post, please email it to info@drcfo.com. If you have not signed up for our blog, please do, so you can continue to receive these important insights and participate in our weekly polls.

Doctors CFO is now launching a FREE tool to help you track your MACRO KPIs. The basic model is free for one user. You might also be interested in our New Patient Tracking Solution and a Salary Planning Solution, please email us at info@drcfo.com for pricing.

Developing a management report is not easy and Doctors CFO currently has a robust model for most practice types that is customized for our monthly and bi-monthly clients. If you have questions on how this model applies to your practice or you are interested in applying the Doctors CFO model in your practice, via one of our annual, bi-monthly or monthly assessments, please reach out to us as info@drcfo.com. Doctors CFO provides financial analysis and valuations for doctors and dentists in the United States. We also offer programs for new patient marketing, revenue and collection management, medical practice consultant, dental consultant, and practice analysis.

(c) 2018 Doctors CFO, All Rights Reserved

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