How To Increase Hearing Aid Sales By 61%
The Challenge: to Grow Your Audiology Practice
Want to increase your revenue by 61% or more?
If you could, how much more would that be in annual income, $150,000 or $300,000?
Almost everyone we talk to says of course they want to grow their practice, but I wonder: Do they really mean it?
Yes, I’m challenging you to be even more successful.
What’s the first step to growing your practice?
It’s to understand and acknowledge what’s holding you back, and I’m going to tell you upfront, it’s not the economy, it’s not your competition, and it’s not the demise of the Twinkie, horrendous though that may be.
The biggest barrier to growth every audiology and hearing aid practice owner faces is that, while they’re well trained in the science of audiology, no one trained them in the science of running a highly profitable business.
No, the science of making your practice highly profitable isn’t just common sense either, or every audiology and hearing aid practice owner would be making well over a million a year. Right?!
While I’m sure you are an expert in uncovering hearing problems and solutions, until you master the science of growing your practice, you’re always going to struggle or be stuck with stagnant sales.
Learn from Theresa
So, what’s the simple solution? How do you master the science of not only helping people hear better, but being highly successful? How do you become maybe even the most successful practice in your region?
Do what Theresa, one of our clients in Virginia, did to grow her practice by 61%.
Theresa realized the simple truth, that while she was good at her job, she didn’t know how or where to focus her time to grow her practice.
How about you – do you know the top 3 fastest ways to increase acceptance rates or where the hidden gold mine is in your practice?
After getting frustrated with trying to intuit what she needed to do, Theresa signed up with MedPB to help her focus her time and efforts to grow her practice.
Bottom line – in the last 18 months her sales have increased by an average of 61% and she’s gone from selling 16-20 hearing aids a month to selling 28-30 a month!
Growing Your Audiology Practice Takes Work
Clearly, Theresa was no slouch when she started. Twenty hearing aids a month is pretty good, but by having someone to show her what to focus on in her business, to show her the science of running a practice, she was able to prioritize her time and efforts and do far better.
With our periodic consulting calls, simple things like having someone else helping her focus on her goals and hold her accountable had a huge payoff. Just the act of having someone insist she write down her goals worked wonders on giving everything she does new focus and purpose. And instead of spinning her wheels or trying the flavor-of-the-month marketing idea, Theresa could count on getting advice proven in hundreds of other practices to get results.
Of course, marketing is an investment.
As Theresa said, “I’ve been in business now for 10 years total, and when I started I would have looked at it as another start-up cost and that would have been scary – but now, as an experienced practice owner, I see the immense value it provides.”
“Sure it costs money, but when you think about what you’re spending, you know, it pays for itself if you just sell 1-2 more hearing aids a month, and in my case it’s helped me sell another 10-12 a month!”
Theresa’s advice to practice owners: “Don’t wait. We are audiologists; we’re not business owners, so when you’re just starting out you can do the audiology side of things really well, but the business side isn’t so easy.”
“There are so many things to think about that you can be completely overwhelmed with all you need to do, and if you sign with MedPB, they’re gonna have the steps you need to take and the action plan to help you get there.”
Ready to see your practice grow by 61% too?
Already have as many patients as you want? Imagine you had a surplus of patients.
Think you could live with that kind of problem? Talk to Us.
