The Remarkable CEO for Chiropractors 203 - Price Testing
In this episode, you'll discover:
- What is your conversion rate telling you about your pricing?
- Why 65% of people won’t notice a 15% price increase.
- Key metrics to watch as you increase your prices.
- When it comes to price testing the juice is worth the squeeze
Episode Highlights
02:37 - The goal of price testing is to ensure that you are capturing as much value as you are delivering and getting paid what you are worth.
05:01 - It is necessary to create, deliver and capture value for a higher level of patient experience and fair exchange.
08:54 - Chiropractors should increase prices as demand for their services is going up. High conversion rates may indicate that prices are too low.
15:02 - You need to test prices and monitor relevant factions while adjusting them to avoid undermining the long term goals of the business.
20:01 - Have conviction in the pricing decision to avoid reverting back to old prices at the first sign of opposition.
27:56 - Success Partner, Dr. Steven Kirby from Chirolaunch, joins Dr. Pete to discuss the importance of marketing in business growth and highlights his experience utilizing digital marketing to expand his practice in Melbourne. The episode delves into the current marketing landscape, emphasizing reactivation campaigns and exploring the effectiveness of platforms like TikTok and VPNs. Understanding your current practice is also crucial in marketing and this insightful conversation is a must-listen for business owners looking to grow their own ventures.
Resources Mentioned
To learn more about the REM CEO Program, please visit: www.theremarkablepractice.com/rem-ceo
For more information about ChiroLaunch please visit: www.thechirolaunch.com
Schedule a Brainstorming call with Dr. Pete
Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business