Episode Transcript
Key Takeaways
- Many practices struggle with managing leads effectively, often relying on inadequate tools like Excel.
- The ability to follow up with leads is crucial for the success or failure of a practice.
- Understanding the difference between Marketing Qualified Leads (MQL) and Sales Qualified Leads (SQL) is essential.
- Consistency in follow-up processes and predefined responses can significantly improve conversion rates.
- Data-driven insights, rather than anecdotal information, are vital for making informed business decisions.
Introduction
Welcome back to another episode of the Practice Perfect podcast. On today’s episode, we’re going to discuss probably the number one thing that leads to success or failure in a practice, and that is the ability to follow up with your leads. Any month you can start generating new leads online.
The Importance of Lead Quality
The quality of a lead varies. We’re going to get into that a little bit, but today we’re going to really dive deep into what makes that work. Back by popular demand, I’ve got with me Isaac Moosley, who is the former CEO and founder of Atlas KPI, one of our most popular episodes. If you haven’t listened to that one, go back and listen to Isaac on that one.
Understanding Conversion Rates
Isaac, you started Atlas KPI because unlike a lot of people that I see in the industry, you are paying attention to some things that other people weren’t and that is basically what makes a practice work, what takes them to success, what numbers they should be paying attention to. I want you to take me through the journey of what you learned through running Atlas and what led to this new venture with your medical PRM software.
Marketing Disconnects
When I started to work with the practices more and more over the dashboard, I started to notice that really what can make the difference is not even the optimization of the business, it’s really the front end of the business. It’s all the part of marketing. There is a whole disconnect from the marketing agency that’s not able to access the EMR or the ability to track the leads activity.
“Without a data, it’s just another opinion.”
Defining a Lead
So let’s start talking about your definition of a lead. So what is a lead to you? How do you define it in your system? So there is really, and not getting too technical, but I’m just going to use two different figures for that. One is going to be MQL, which is Marketing Qualified Leads, and the second one is going to be the SQL, the Sales Qualified Leads.
Consistency in Follow-Up
And I would say, from what I see from the agency side, is that’s one of the biggest things that holds them back is one, not knowing their numbers and two, not being able to follow up with them. And Isaac, I want to get into that a little bit more. So let’s start talking about your definition of a lead.
Data vs. Insights
“If you don’t have the data to back up what you tell me, you most likely just had one bad experience that made you come to this conclusion.”
Leveraging Technology
So it comes in two different areas that are really focusing. I found that most practices that are at least trying to make an effort and follow up, in most cases trying to manage it through Excel, which was really not made for that. They end up just having a huge list of names with phone numbers and sometimes emails.
Conclusion
Isaac, I’m very excited about this software. I know my clients that I’ve spoken to about are excited about this. I know the industry is going to benefit tremendously from it. First I’d like to ask you if there’s anything I didn’t ask you about it that you feel is important for everybody to know.