Alex Nottingham, JD, MBA highlights the toll of poor call conversions on profit. Team training is vital for reducing this loss.
Resources:
- Dental Practice Growth Webinar
- All-Star Live Dental Training Events
- Dental Coaching
- All-Star Online Training
About Alex Nottingham JD MBA
Alex is the CEO and Founder of All-Star Dental Academy®. He is a former Tony Robbins top coach and consultant, having worked with companies upwards of $100 million. His passion is to help others create personal wealth and make a positive impact on the people around them. Alex received his Juris Doctor (JD) and Master of Business Administration (MBA) from Florida International University.
Episode Transcript
Transcript performed by A.I. Please excuse the typos. 00:00 This is Dental All-Stars, where we bring you the best in dentistry on marketing, management, and training. Here’s your host, Alex Nottingham. Welcome to Dental All-Stars. Our topic is poor call conversions, and this is our first silent killer in a sequence of three silent killers. So why is poor call conversion important to overcome? Well, it’s a loss of revenue if you have poor call conversion. 00:29 And let’s look at the math here. When a patient calls, they’ve acknowledged a need, they researched your office, they found your phone number, and they made the time to call. And what we found in call tracking research, auditing thousands of calls, is that the average practice gets 135 new patient opportunities per month. Of those, only 48 book appointments. That’s that 35% conversion rate right there. And that means that 87 appointments are not booked. That’s a lot. 00:59 And then we look at the American Dental Association and that the average first year value of a new patient is $642. And this is before inflation. So when we do the math here and we say, okay, we work four days per week, four weeks per month for a month, that’s 16 working days. And then of that, let’s be conservative. We’re not saying we’re missing out on those 87. We’re just going to miss out on one per working day. 01:28 So 16 missed call opportunities by that poor call conversion process, and then you multiply that by $642 for one month, that’s $10,000 per month. And that would have been three or four or five times that if it was based on the call tracking research. But I’m going easy on you. So $10,000 per month in missed opportunities by not converting one phone call per working day. 01:56 And then we say, okay, well, what is the lifetime value of a patient? It’s 10 years. So that one month costed us $100,000 in lifetime revenue that we’re never gonna see from those patients and their referrals, which is a multiplier. So by that happening, we are working harder, not smarter, and it’s a big drain on energy. So I implore you to improve. 02:25 your phone call conversion. Be mindful of the costs of not converting phone calls and not training your team on phone calls. So I’m going to give you a great resource. It’s allstardentalacademy.com backslash webinar. And in this webinar, I go into the solutions on how to improve your phone call conversion, how to improve scheduling, how to overcome these silent killers. And take a look at that. And until next time. 02:55 Go out there and be an All-Star. 03:00 We hope you enjoyed this episode of Dental All-Stars. Visit us online at allstardentalacademy.com.
