Many Physical Therapy Practice Owners Make This Mistake

Did you know that...

• 5 to 10% of your clients could probably do more business with you almost immediately?


• If you don't ask for referrals, you won't get them?


• To generate new clients and retain your existing ones, you need to make strong personal connections with your clients?

Attracting new clients is the lifeblood of all successful businesses. And I want to tell you that this is only half of the story. Strategizing on how to retain existing clients is the other half of the equation in building a successful business.

I recently read a business article that stated: the critical mistake 95% of business owners make is they spend virtually all of their energy on attracting new clients.

Let me give you an example of a physical therapy practice.

I recently worked with a physical therapy practice which was struggling with increasing their client numbers; their focus was entirely on getting new clients.

I asked this practice owner these questions about her existing clients:

• How many of her clients complete their treatment plans?


• How many of her existing clients refer to their families and friends, that is, have given her more clients?


• How many of her clients use the other services provided by her clinic?


• What is the average length of time her clients work with them?

What we uncovered was that she was putting very little time, energy, and attention on client retention. By focusing on retention, it would be much easier for her to maintain a full and lucrative client load.

By this example, I mean to show you where the potential lies in client retention. I would like you to answer these very same questions and see what is revealed to you about your practice and client retention.

It's a very good business move to shift some of your energy to thinking about retaining clients. In addition, focusing on retention is much easier (and profitable) than focusing only on getting new clients.

Here are the reasons why...

A 1% increase in client retention enhances your business value by 5%.

Businesses can boost profits by almost 100% by retaining just 5% more of their customers.