Medical Marketing: Improving Patient Conversions Is The Key To Website Profitability

Conversion (rate) optimization should be an essential component of any comprehensive digital marketing effort. Conversion Optimization, Website Profitability 7 25

Conversion Rate= Patient Inquiries (Leads) / Website Visitors

Simply put, when website conversion rates are measured accurately, and managed proactively, it is one of the single greatest levers of website profitability.  Conversion optimization is an on-going process of understanding how and where your website’s conversion rate can be improved.  For some, it might mean adding a tracking phone number, while for others, conversion optimization might require a complete redesign.  Over the course of six months, a year, or even two years, driving a conversion rate higher will mean greater profitability for your practice.

 

Conversion Rate Optimization (CRO) - Funnel Analysis

Consider the following example of a medical practice with revenue per procedure at $3500 and a website that attracts 500 visits per month.  Driving conversion rates up by a few percentage points will have a dramatic effect; adding over $150,000 to your medical practice revenue.

Example of Conversion Optimization

Non Optimized

Optimized

6000 Visits Per Year

6000 Visits Per Year

4% Conversion Rate

6% Conversion Rate

240 Patient Inquires Via Web

360 Patient Inquiries Via Web

120 Appointments

180 Appointments

90 Procedures

135 Procedures

$315,000 Procedure Revenue

$473,0000 Procedure Revenue

Gross Revenue Increase$158,000

On the whole, moving from 4% conversion to 6% is achievable through optimization efforts and sustained focus.  Over the course of five years, hosting and maintaining practice websites while engaging in online marketing initiatives for physicians, MD Connect has created over 250,000 patient inquires for our clients.  We have established an optimal conversion rate range and sub optimal ranges that necessitate conversion optimization.  If your conversion rate is greater than 8% congratulations!  If your conversion rate is less than 5%, you should consider changes to your website that will result in a higher conversion rate and ultimately, a better ROI on your digital marketing efforts. 

 

Medical Practice Online Visibility