Should Acupuncturists Use Groupon, Living Social & Other Online Coupons?
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There seem to be two ‘camps’ when it comes to acupuncturists using Groupon, Living Social and other online coupon programs to promote their services. One camp says, it’s a great opportunity to gain exposure, get new patients and make some money. And another camp says that the deep discounts and high fees make it a financial bust, and worse, devalues the profession.
There’s no doubt that you can lose money using these online coupon programs (as has been well documented in the dining industry), but if you read the coupon program’s fine print, understand your goals, calculate your ‘ break even price point’ and plan accordingly, I believe you can make these programs work for your acupuncture practice.
Here are my recommendations to any practitioner who is thinking about using Groupon, Living Social, or any online coupon company. Understand and plan on ways to optimize:
(1) Front end income
(2) Back end income ** VERY IMPORTANT!
(3) Costs (including time)
(1) Front end income
Front end income is what you get from your coupon sales. When you see service based businesses using Groupon to sell over 1000 coupons at $50 a pop (like a local glass blowing teacher did), it’s pretty easy to get caught up in the “$50,000 payday” and think you’ve found the answer to all your prayers. But if that’s all you see, you could be one of the many business owners who lose money on these deals. So please, pay attention! If we examine an acupuncturist who courageously tried out the Groupon program to sell a $30 coupon for a 45 minute session we can see that $30 x 109 purchases (last I checked) = $3,270. Half goes to Groupon so that leaves $1,635 in front end income. That’s only about $15 per person for 45 minutes of treatment, which stinks! BUT WAIT… here’s what you also have to factor in:
- 15-30% of people who buy the coupon never redeem it before it expires. That free money. Don’t count on it, but just know that it’s there.
- For an acupuncturist who does not have a full schedule and ALL s/he has is TIME, this is a great way to get exposure, create buzz, and generate profit (see back end income below) without laying out any cash.
(2) Back end income
This is the key to generating profits! You need a plan in place to upsell these coupon-purchasing customers. What I like about Mary Ann’s Groupon is she included in her sale an “Individual Wellness Plan”. This is clearly aimed at getting these initial buyers back through her doors for a series of treatments. Even if just 10% of her initial 109 people scheduled 6 treatments as part of her “Individual Wellness Plan” (at her normal rate of $80) that’s 10 (people) x 6 (visits) x $80 = $4,800. Now we’re talkin! Acupuncturists MUST learn how to turn these qualified customers into repeat patients (who refer new patients) in order to make significant long term income. If you add in sales of herbs, oils, books etc., that backend revenue per coupon-paying customer increases. For those of us who understand (and teach) online marketing, the backend income can also significantly increase by offering products like digital products or online wellness coaching and creating automated email campaigns to keep customers interested and coming back. In other words, this is a great way to build a list of qualified customers for future service or product sales.
(3) Costs
The big thing acupuncturists need to watch here is time. (Costs for needles and other office supplies is usually minimal.) The cash infusion from the front end income can help take care of working expenses and pay for upsell items (sold when they receive their session). But time is something that is limited and scheduling must be planned so that full paying patient slots are not taken up by $15 slots. I would recommend dedicating 2-3 days a week just to the Groupon people and get them all scheduled and treated within 3 – 6 months. Personally I think a year is too long to ‘wrap up’ the coupon customers. This may mean working days that you don’t usually work until everyone gets their coupon redeemed.
So before we dismiss Groupons and other social online coupon programs for acupuncture practitioners, I think it’s important do some research (read other business’ deals), think things through, test it out on a small scale then take the lessons learned to larger and larger scales so you can minimize your risk and maximize your potential for generating profits. That’s why I congratulate Mary Ann for having the courage to TRY something new, generate buzz and build her business.
I’d love to hear your thoughts on this (or any other acupuncture marketing) topic. Chime in below!
Peace,
Lisa Hanfileti, LAc
Insights-For-Acupuncturists.com
For Picky Acupuncturists
If you had the chance to learn a marketing system to help you get and keep patients scheduling with you, wouldn’t you jump at the chance?
I wouldn’t.
I’m super picky.
I would need to do some research to make sure that the person who developed the program was:
- An acupuncturist (okay, I’m biased too)
- Genuine and demonstrated an authentic desire to help other acupuncturists succeed
- A “proven commodity” – in other words, someone who already created other reputable products
- Hardcore about testing the program and had proof that it worked
- Accessible and not one of those ‘untouchable gurus’ who hid behind web pages
- So confident in the product that s/he offered a no questions asked, 100% money back guarantee
- Generous and priced the product so it was fair and affordable
- Committed to support and personalized follow up for every customer
When I investigate (or create) a system, program or product that is designed to help acupuncture students and practitioners, I am looking to make sure it is valuable, easy to use and affordable.
I am so glad to be able to report that Jeffrey Grossman, LAc did a great job when he created his Patient Reactivation Program For Acupuncturists. Not only did he meet all of my criteria above, but he did a few other things that I’m not sure most people realize.
For instance, Jeffrey is including in this program:
- Weekly live calls so you can interact directly with Jeffrey to ask questions and get help
- A members-only forum where you can network and interact with other acupuncturists from all over the planet
- Templates for letters and emails that you can customize so you don’t have to waste time and energy re-inventing the wheel
- A payment plan to make it easier for every acupuncturist (regardless of income bracket) to participate
You do not have any patients (or even be in practice yet for that matter) to benefit from this program!
Even students who are just thinking about their practice can learn from Jeffrey how to put a system in place that ‘automatically’ educates (current or potential) patients so that the reactivation process is rarely necessary.
And when it is necessary, you get even better results.
So if you haven’t investigated Jeffrey’s Patient Reactivation Program yet, please go ahead and take this important step. He has done all the work for you, laid out the plan, handed you the templates so that all you have to do is say YES!
The 4-week live course starts in 1 week, so don’t wait.
Here’s the link to Jeffery’s video about the course and everything included in it:
http://www.mcssl.com/app/?af=1301880
If you have any questions, go ahead and let me know. I’m here for you because I know The World Needs More Acupuncturists!
Peace,
Lisa Hanfileti, LAc
Are You Sure You Want To Be An Acupuncturist?
Although my acupuncture practice has been in existence for over 10 years now, something terrible happened just a few short years after I opened my acupuncture business. It caused me to ask myself the question, “are you sure you want to be an acupuncturist?”
I’ve learned that my story is really not all that unusual (which is kinda scary). I won’t bore you right now with all the details, just suffice it to say, I had been confronted with some unexpected circumstances that led to a financial crisis in my business. It was a horrible “do or die” situation and I was faced with a very serious decision with only two choices:
CHOICE #1: Quit. I’m not a quitter, but honestly no one would blame me… it had been a tough year, enough to break anyone’s will. I could walk away proud for giving it a go.
CHOICE #2: Learn how to build a successful acupuncture business. Crap! I hated the B word! Learning business skills meant I would have to face my fears and dig deep… I hated practice management mumbo jumbo and only wanted to immerse myself in the healing arts. It would be easier to quit… I just didn’t know if I had what it takes?
Before I really had a chance to methodically weigh the pros and cons of each choice (something I always do with important decisions), I felt something deep inside that overwhelmed my thought processes. If the feeling had words they would be, “I AM AN ACUPUNCTURIST!”
It wasn’t a question. It was a statement.
And I knew then and there I had to do what it took to learn how to take control of my practice and build a sustainable and profitable business. (I felt SICK!)
That was about 5 years ago and I can look back now and smile. Learning business and marketing skills was not as difficult as I had thought.
The hardest part was trying to figure everything out on my own. Back then, there wasn’t a whole lot of support for acupuncturists trying to build a business. It was super difficult for me to tell the difference between legitimate marketing methods and unproven schemes promoted by so-called experts.
I’ll admit it, I was lucky. I connected myself with the right people, attended awesome training programs and got top notch coaching from experienced teachers. They continue to inspire me and motivate me.
I could have taken everything I learned and built my practice and lived a very happy, quiet life. But the thing is, when I had my epiphany, that I AM an acupuncturist, I also made the commitment right then and there to find a way to teach everything I learned to YOU and anyone else in the entire acupuncture community who wanted to learn.
It has taken me a little longer than I anticipated. My research, testing and re-testing is part of the reason you haven’t heard much from me in recent months. But I’m happy to say, I am confident that my business partner, Alicia Bausley, and I at Empowered Business Entrepreneurs, LLC have developed the ultimate business and marketing course specifically for acupuncturists.
I’ll be launching it soon and it will culminate in a 2-day live event (that we’re tentatively calling the Acupuncture Business Academy Super Summit). I already have some top notch speakers lined up and two full days of training that will absolutely change the way you approach your practice, business and LIFE!
The Acupuncture Business Academy will solve many of your marketing challenges and set you up with everything you need to build a successful practice. How do I know? Because I have spent several YEARS ‘in the trenches’, listening to you, talking to you and working with you. I’ve learned that business and marketing techniques that work well in other fields (like chiropractic, dentistry, internet business, etc) do NOT work for acupuncturists, and I’ve refined and simplified everything to make this course easy to learn and effective to implement.
Although the Internet is a great tools and I’ve enjoyed meeting many of you online, I am looking forward to connecting with you in person. I’ll be sharing more details as everything gets finalized. There is A LOT to get done and I am personally overseeing every detail so that you have the best training and awesome experience.
I hope you are as excited about the Acupuncture Business Academy Super Summit as I am! I’d love to hear your thoughts! Go ahead and share your feedback below. After all, we’re in this together!
Peace,
Lisa Hanfileti, LAc
Insights-For-Acupuncturists.com
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Other News For Acupuncturists
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Business Coaching For Acupuncturists With Kevin Doherty, LAc
“Inner Freedom, Outer Success” Starts January 18th, 2011
Click here for more info.
Tapping For Health-Ancient Chinese Acupressure and Modern Pyschology Meet
UPDATE: The Tapping World Summit 2011 Starts Feb 1st, 2011!
Here’s how you can join that tapping party: Learn More
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Tapping for health with BodyTalk, EFT (Emotional Freedom Technique), and many other acupressure tapping techniques utilize the principles of the Chinese acupuncture meridian system. A new movie has recently been released in DVD format called, “The Tapping Solution”.
To learn more and refer your patients for excellent information, there is a free online event to teach people the basics of tapping for health. Imagine if everyone could do simple self-treatments or treat their kids and family members with these effective acupressure tapping techniques!
Whether you want to address with emotional blocks, anxiety, anger, past traumas or phobias, or you want to release physical pain and drop extra pounds, this tapping is a gateway to making that happen for you. They’re teaching both the basics and advanced strategies for this technique in a free online event this month.
They ran a similar event last year and had over 100,000 people attend! Check it out:
Peace,
Lisa Hanfileti, LAc
Michael Port’s Booked Solid University Coaching Program
I have been following Michael Port for years. He wrote a book a while back called “Book Yourself Solid”.
Honestly, at first I was reluctant to embrace him because I wondered if he was one of those ‘slick’ salesmen. (Which I now see was a reflection of my own discomfort with marketing and not a true picture of him.)
Nonetheless, as I studied him and his materials I was cautious but remained open minded. After all, I wanted my acupuncture practice to succeed and I needed to learn everything I could to ensure that would happen.
What I learned about Michael Port is that he is nothing like my initial (erroneous) perception! He is authentic and very passionate about providing business training to the service-based business community.
He recently created an innovative online small business coaching program that I think is perfect for the acupuncture community. He shows you the fastest and most effective ways to book yourself solid and then build a business that runs without you. Listen, I hate to say it but if you are struggling to run your business and you have not developed systems to automate your marketing and referrals, then you are always going to struggle to make it. It’s just a fact.
Michael Port’s new program is called Booked Solid University and he offers everything you need to know about building your business in one extraordinary e-learning environment.
I know e-learning can take a little getting used to, but for acupuncturists who are no longer in their college environment, it is the next best thing. The structure is the same, in that you have regular class times to meet and you have a community of virtual classmates to interact with. I think the reason many acupuncturists fail in business is because they do not have a disciplined schedule for learning marketing and implementing what they learn.
Booked Solid University keeps you on task and accountable so you are always putting into action what you learn in a sequential, logical manner (just like acupuncture college).
Here’s what’s amazing. You get all of his courses and programs under one roof for just a few dollars a day. His program includes an Entrepreneur’s Mastery Program and Booked Solid Electives that show you exactly how to:
- Get clients with ease and integrity.
- Improve focus on what’s most important.
- Increase free time and improve your lifestyle.
- Maximize wealth and influence.
And, better yet, right now he’s offering a 50% DISCOUNT to the next few people who enroll. It was for the next 50 people but I know those spots are getting nabbed faster than you can say Booked Solid, so there can’t be many left.
I heard he created Booked Solid U because he was sick of all the other so called “gurus” charging ridiculous fees for business education. He just doesn’t think you should pay a lot to learn how to get booked solid. Now, that’s a good man. That’s the right thing to do.
I’ve read every word about the coaching program on his website and it is the most comprehensive, breakthrough interactive, go-at-your-own pace, self-guided, online education community, offering easy-to-use, yet advanced educational technology for the small business owner. Seriously, I know which specific coaching programs are available to acupuncturists and this is one of the best for those of us who are planning a lengthy and successful career in the acupuncture profession.
The ribbon has been cut and the doors flung open to Booked Solid University. I recommend you rush out and grab one of the 50% OFF spots while they still last. Just imagine what your business could look like in one short year from now.
Please do not be one of the (all too many) acupuncturists who will look back and WISH they had taken advantage of this opportunity.
Check it out now:
http://www.insights-for-acupuncturists.com/bookedsolid-coaching
Lisa Hanfileti, LAc
Insights-For-Acupuncturists.com
