E671 | The Not So Secret Marketing Technique I Learned

In this episode of the podcast, Dr. Danny explores the power of local events and education events in marketing a physical therapy or similar healthcare business. Dr. Danny shares his experience attending a conference on sales and marketing, where he was introduced to a speaker who revealed his number one strategy for 2024 - focusing on local events.

At first, Dr. Danny was surprised because local events are often recommended for healthcare businesses. However, the speaker explained his approach of hosting dinners for a small group of 20-30 people, where he would educate them and build rapport over a few hours. Remarkably, 70-80% of attendees would then go on to purchase his $50,000 program to develop a keynote presentation.

Relying on simple math, Dr. Danny highlights the potential revenue that can be generated from one local event. For instance, if 20 people attend and 70% purchase, that translates to 14 sales at $50,000 each, resulting in a total revenue of $700,000. Although a physical therapy practice may not charge as much, the underlying concept remains the same. Local events provide an opportunity to educate potential clients, establish trust, showcase how the practice can help, and convert attendees into new patients.

Dr. Danny estimates the lifetime value per client to be around $2,000. Using this figure, he demonstrates how a practice hosting an event with just 10 attendees and converting 5 into patients can generate $10,000 in revenue. This highlights the immense leverage of local events, allowing the practice owner to fill staff caseloads and generate substantial income.

Drawing from his experience, Dr. Danny discusses the high conversion rates he has witnessed in physical therapy practices, with 60-80% of local event attendees becoming new patients. He emphasizes that hosting just two events per month can fill the caseloads of two staff members.

In conclusion, this episode advocates for the focus on local education events in the coming years, as they offer predictability, ease of implementation, and remarkable effectiveness in generating qualified leads and building trust for physical therapy and similar healthcare practices.

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Podcast Transcript

Danny: When you look at. It from generation of revenue and you could say, all right, cool. Like I did this one education event and I generated 12,000 in revenue for the practice because of that. Well, that's a very high leverage use of your time. Hey, are you a physical therapist looking to leverage your skillset in a way that helps you create time and financial freedom for yourself and your family?

If so, you're in the right spot. My name is Danny Matta. Over the last 15 years, I've done pretty much everything you can in the profession. I've been a staff PT. I've been an active duty military officer, physical therapist. I've started my own cash practice. I've sold that cash practice. And today my company, physical therapy business helped over a thousand clinicians start growing scale, their own cash practices.

So if this sounds like something you want to do, listen up, cause I'm here to help you.

Hey, what's going on guys. Doc Danny here with the PT entrepreneur podcast. And today I want to share a lesson learned that I got from a recent conference that I was at, uh, that was really all about sales and marketing. But isn't it perspective? The vast majority of people that were at this conference were in some sort of education, business, consulting business, um, you know, businesses that are, I guess, somewhat similar to PT biz adjacent to PT biz, I guess, uh, in some ways, some of them are brick and mortar.

Uh, but either way, they were all sort of. Educating in some capacity and helping either other businesses or people out through that. You could definitely throw in things like we do with cash based practices into that, uh, as well. And one of the speakers who is. Uh, speaks, uh, I would say very high level in terms of, uh, conferences that he speaks at and presentation gigs that he gets, uh, really, really big, you know, 50, 000 person even conferences, this person, um, can keynote.

And what I thought was interesting was, is he was giving his presentation about what his, you know, sort of, um, strategy was going to be for 2024. The number one strategy that he said that he was going to focus on was. Local events, and I kind of laughed out loud when he said this because. We talked to people about this all the time and he made it sound like this was like some sort of new, uh, you know, super secret strategy, but he even brought up, he was like, listen, this is not anything new.

This is something that has been around forever. It's kind of like fashion. It'd come back around. But the thing is, when we talk about. Local events and, uh, education events locally. They are such a powerful part of marketing for a brick and mortar practice and a mainstay of basically every practice that we work with.

Um, because they work, they work really well. And what he did, like this guy basically, uh, Helps people with public speaking and he would do this in all kinds of different cities and he would host Dinners basically, so he would host dinners anywhere between 20 and 30 people that would show up You know, we'd host a dinner that was maybe two hours, three hours long.

And off the back of this, he has a program where he helps people develop a keynote presentation to be, you know, uh, a keynote presenter at, at major conferences and in their, in their niche. And it's like 50, 000, right? Uh, to, to very expensive offer. And he said anywhere between 70 and 80 percent of people in the room that show up, end up converting to his.

Um, you know, his, his program that he, that he does, where he helps them develop their keynote presentation, I did the math on that and I was like, wait a second. So you're telling me, you know, let's say 20 outta 30 people that show up do that, like, do the math on that for a second. This guy is, uh, making a lot of money off of local events as and, uh, education events.

Now, your offer, obviously as a cash practice owner is not gonna be $50,000, but. It very well could be two to three and you got to think of. Your plan of care packages as well as lifetime value, right? Like somebody coming back and buying another package of is from you or doing ongoing continuity work with you, or maybe referring a friend, all these things you can kind of lead into building out your lifetime value of what, what is it worth to acquire a customer?

So when you're at a local event, let's say you're doing some sort of education workshop or injury screen or assessment or whatever it might be, and let's say you get. Five people out of 10 that maybe show up to convert to working with, you know, you and your team with your practice. Now, all of a sudden you can put a number on that, right?

Let's say your lifetime value is 2, 000 and you got five people. That means that one event you did was worth 10, 000 to the business. This is why this guy, this is like his main focus is these, these education events, because every time that he does one, it ends up generating, you know, half a million to a million dollars in revenue for his.

Business that's not necessarily fulfilled all by him, but his team and the actual company that he's built in the same thing with you and your practice. So you've got to look at your marketing and particularly these local events as a way to get your target audience. It grouped together to where you can with leverage, educate, or inform people about something that you can help them with.

Uh, help them like sort of have a light bulb moment, learn something, build some trust and some rapport. And if you can truly help them, then try and convert them over to an initial, you know, plan of care and initial visit. Um, and just keeping in mind that like, sometimes it can be frustrating. Like I, I did so many of these and I used to just be like, man, I don't want to go to this gym to talk about squatting or whatever it was again.

And I never really, I mean, I always did it because I knew I had to, because I wanted my business to continue to grow and it was, uh, one of the primary, you know, forms of marketing. But when you look at it from generation of revenue and you could say, all right, cool. Like I did this one education event and I generated 12, 000 in revenue for the practice because of that.

Well. That's a very high leverage use of your time. Keep that in mind. So your one to two hours you spent there, you're, that means you're generating, you know, 5, 000 an hour basically, uh, of, uh, of work just by you being there and being good at that and with what you do, I think about it now, like for us with PT business, not like I can, um, just go to, I don't even know what, what it would be like a local.

Uh, area here in Atlanta and have a bunch of cash practice owners that, uh, that I could group together and do some sort of, you know, workshop easily. It would take a lot of effort. They'd have to come in from a lot of places. We have to do a lot of marketing for that. I mean, it's possible that I could do something like that, but like for you to get.

Into a gym or a personal training studio or some sort of adjacent health care provider that has your target audience right there and they're easily accessible to you and you can educate them or you can see what kind of movement deficiencies they have and give them an idea of what they need to work on.

Like it is such a low hanging fruit, low tech way of. Building caseload for yourself and your staff, and you just do the math on close percentage of number of people you move over and work on improving that, but even with some of our clients we're seeing, I mean, they're moving 60 to 80 percent of people that show up to an event over to working with them like it's insane, right?

You get 10 people there all of a sudden get 68 new patients to do that. Twice in a month. And all of a sudden you're, you're basically filling two people's caseloads just by two education events, uh, events a month, not including any other things you're doing on the marketing side. So I thought it was interesting, you know, I, as I sat there and I heard this guy talk about all the reasons why you need to do local marketing, uh, and he's like, you know, education events.

And I just started, you know, thinking, well, yeah, of course, you know, we, we talk about this all the time. It works. It's great to hear this from another. Industry where they're doing the same thing and they're really pushing it on. It's working so well for them in this capacity, too. So if you're not dialing in your local marketing in 2024, you really need to because it is so much more predictable, so much easier to do, uh, and so much more effective than trying to learn.

Something like digital ads initially, like I think that's something that you sprinkle on and you, you add in once you have a really good reputation and a digital presence. And then from there, you can really accelerate your, um, your business via adding on other digital elements that are more leveraged, uh, with your time.

But even still that local. Component is like just such a big part of the business. Don't forget about it. Really prioritize it. Try to schedule these, these things out, uh, and really make it a focus in 2024. And I think that will lead to a really significant amount of new patients that you'll see that are highly qualified.

They're like really, really ready to make a change and you've already built a lot of trust for them.

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