I decided to let Professor “H.” take over this week’s episode of “A Drink with the Hurricane.” He has some great tips on growing your Home Care business and how to execute them in a practical way.
Let’s talk about prioritizing for a minute. We’re all familiar with it. In life and at work, we have to organize ourselves and focus on tackling certain tasks before others. The same principle applies to your Home Care marketing efforts. It’s important to organize your accounts into lists, but it has to be done in stages.
To organize your Home Care accounts:
- Make a Target List — This will likely consist of 35 to 40 accounts, but not all of these accounts are created equal. Do some online research and ask around as to what might be the best 35 to 40 referral sources in your territory. Once you gather these figures, you’ll want to—
- Qualify the accounts — Go ahead and tour these places; check them out for yourself, learn and see if there’s potential they’ll send you referrals. Once you determine if they have an abundance of potential referrals to give you, it’s then time to—
- Create a Top 20 List – Take your original target list and break it down to the best 20 places in your area. Then focus on visiting them frequently to develop a solid, professional referring relationship with them. From this list, it’s time to develop —
- Build the Core 4 – I always say that 80% of your business comes from 20% of your accounts. As time moves on, you’ll likely develop professional relationships with 3-4 of your accounts that will give you patients on a regular basis. These accounts typically send you a new client every two weeks, which is broken down to about 25 clients per year. With four accounts lined up, you could earn 100 NEW clients a year. Let’s do the math here: 100 new clients annually with a lifetime value of $11,000 (per Home Care Pulse Report) equals $1.1 million in yearly revenue. Not too shabby!
If you build upon what you already have, I guarantee you’ll see great success. You, my friends—will blow away the competition just by following these basic principles! Tune in next week as Professor “H.” provides more tips on how to grow your Home Care business.