Activate Your Practice Podcast "Outmarket the Competition" with Special Guest Nick Doyle
When was the last time you calculated what a new patient is truly worth to your practice? In this eye-opening conversation with marketing expert Nick Doyle, author of the bestselling "Outmarket the Competition," we explore a revolutionary approach to marketing that's transforming how businesses think about customer acquisition.
Nick reveals why most marketing strategies fail: they focus exclusively on either brand building or performance metrics, missing the powerful synergy created when both work together. "Brand marketing is trust," Nick explains, drawing parallels to the branded products we instinctively choose every day. Meanwhile, performance marketing helps you "fish where the fish are" by targeting those actively seeking your services. The magic happens when these approaches combine.
The conversation takes a fascinating turn when Nick introduces his lifetime value framework—a sophisticated yet practical model that uses patient profitability to determine appropriate marketing spend. Rather than arbitrarily setting monthly budgets, Nick advocates calculating what a new patient is actually worth to your practice, then using that figure to inform acquisition costs. While the math might seem daunting at first, the principles can be applied by any practice that understands its basic patient metrics: visit frequency, average cost, and treatment duration.
What makes this approach particularly valuable for chiropractors? As Nick points out, local businesses often have an advantage since they're targeting a defined geographical area rather than competing nationally. The key is overcoming personal bias—designing marketing that resonates with patients rather than what appeals to the practitioner.
Ready to transform your practice marketing? Listen now and discover why Nick's book has become a bestseller across multiple business categories. The concepts may be advanced, but the potential impact on your practice growth is well worth the learning curve.