How The 80/20 Rule Can Boost Your Practice’s Business
In the early 20th century, Italian economist Vilfred Pareto discovered something curious – 80% of the real estate in his country was owned by 20% of the population. Then he noticed that 80% of the peas in his garden came from 20% of the plants that he grew.
This rule kept appearing in other forms, and it became known as the Pareto Principle or the 80/20 rule. Quite simply, it states that about 80% of the results come from 20% of the causes.
So how does this apply to your health practice? When you hone in on the 20% of activities that bring you 80% of your results, you can get better results for your clients and grow your practice faster.
Using the 80 / 20 Rule to Improve Patient Accountability
It may sound cliche, but it remains true: what gets measured gets managed.
Tracking movement, nutrition, sleep, and health conditions may seem tedious to some patients. But the more data they track, the more likely they are to stick with their plan.
It’s been well documented that food journaling can help patients lose more weight and keep it off. The daily habit of journaling can help patients reinforce their commitment to their health goals.
Seeing their progress in numbers reinforces their commitment. Everything from lower numbers on the scale to lower blood pressure and improved lab results supports that commitment.
As their health practitioner, you benefit from seeing which patients are tracking more data and making more progress. With the Well World practitioner portal, you can see in a glance which patients are meeting goals versus patients who are going “off-plan” and away from their goals.
The 80 / 20 Rule to Streamline Communications
Patients are more likely to track and journal if they know that it is important to you, and when they know you’re paying attention.
You can communicate with your patients individually through emails, weekly video chats, or phone calls. All of these actions can be very time consuming. Instead, you could use the Well World Practitioner Portal to help you reach out to all of your patients at once, saving you precious time and effort.
With all of your patient data in one place, Well World will show you exactly which 20% of your patients are getting 80% of the way to their goals.
For the patients that are falling off track, you can add encouraging messages into their plan to give them nudges throughout each week. These messages pop up on your patient’s smartphone automatically – no need to click any buttons to get them to go.
And for patients who are crushing their goals, you can send a personal message of congratulations or even upload a video of you celebrating their success.
The 80 / 20 Rule of Time Management and Client Attraction
Maybe you’re already following all the rules of marketing:
Writing blog posts
Sending emails to your mailing list
Writing and sending out newsletters
Recording videos and Facebook Live sessions
Hosting live webinars
Getting interviewed on podcasts
Speaking in virtual summits
But where do you find most of your patients?
Chances are that 80% of your best patients come from just 20% of your marketing efforts or through other patient referrals.
How can you tell?
Think back to your last several patients. Write down how they came to your practice. They may have found you through:
- Friend or family referrals
- Referrals from past patients
- Business networking referrals
- An online Search
- Online marketing efforts
- Corporate health fairs
When you write down the referral source next to each patient, there will be a clear pattern.
Once you find that best source for new patients, you can focus 80% of your time marketing to that area. That will free up time spent marketing in other areas that don’t bring in more patients.
Want to find more of your ideal patients?
When you’re narrowing down your best patient sources, you can also take note of which patients have been the most successful and the most enjoyable for you.
By focusing on getting more of those patients that are perfect for you and your business, you’ll build a practice that has engaged, enthusiastic patients that refer more patients to you.
When you put more effort into the areas that are working practice, you can accomplish a lot more in less time. You will be able to support more patients with less effort. And you can grow your business faster.
Reason #4: Sell more of your programs and products on your website
According to recent statistics, 72% of customers would rather learn about a product or service via video. Viewers also retain 95% of a message when they watch it in a video, compared to 10% when they read it in text.
So it makes sense to include a video message in your website landing pages where you are selling your products or programs.
You can record a video of you talking about the benefits of your programs or products and what result patients can expect to get when they work with you.
If you can share specific results from real patients, even better.
The best way to do this is to ask past patients if they would be willing to give you a video testimonial. Even a one-minute video of a past patient talking about how great they feel, how much weight they lost, or how much better their labs are will give your program a credibility boost that can help convert prospects to patients.
Reason #5: Increase Patient Engagement through Well World
Your Well World app and practitioner platform can help you streamline your communication and increase patient engagement. Adding your own videos into Well World personalizes the patient experience.
Patients improve plan compliance when they review your advice. With videos, they can watch and review your advice on their own time. They can reabsorb what they learn from you and put your advice into practice.
You save time through repurposing. You record once and upload videos to your practitioner portal. Then you can share them to multiple patients going through your self-paced plans or group programs. It’s like you’re walking them through the program, though you’re not there.
You can repurpose some of the videos that you create for your social content. Or you can record specific messages for self-paced plans or group programs.
Reason #6: Get more publicity with speaking opportunities
Would you love to be interviewed on your local news channel? Or featured in a prominent podcast? Or be invited as a speaker in a virtual summit or on a live stage?
Your videos can pave the way for bigger stages.
When you practice speaking on video, you become more comfortable in front of cameras and on stages. And as you develop your speaking skills, you will get new opportunities to share your practice.
Becoming a speaker gives you greater exposure to more people, which can increase your pool of prospective patients. It also raises your profile, and you become known as an expert in your field.
Video marketing has a compounding effect. The more good video content you create and send out, the more potential patients and opportunities you can attract to your practice.