February 22, 2013 (Happy Birthday Dr. J!
I have a homework assignment for you! Dive in, complete it, and post your results in the comment section below. I will draw a name from among the brave respondents and give that lucky person a fancy prize (probably a t-shirt or something cool).
This is a bit of a math problem, but I’m sure you are up for it. Here’s what you’ll need:
- A list of all your sessions in 2012 (I hope you have this in hand), detailed by client.
- A calculator, or computer, or your big fat brain.
Now that you have gathered that information, please do the following:
Determine how many unique clients you had in 2012;
- Determine how many sessions each of those clients came for. This means you’ll have one number for each client;
- Add the numbers together and divide it by the number of clients;
- Post your answer in the comments below.
Here’s an example using my semi-fictitious practice:
Unique clients in 2012 = 4
Sessions: Joe 3, Peter 6, Casey 2, Sarah 8
Total: 3 + 6 + 2 + 8 = 19
Frequency: 19 ÷ 4 = 4.75 or rounding to one decimal, 4.8
My average client saw me 4.8 times in 2012.
What’s the purpose of doing this—other than winning a prize? Well, a healthy practice is one that is supported by clients who return. Repeat business costs less, and therefore is more profitable. What if you sold 1,000 gift certificates last year, and none of those people came back? Your repeat factor would be 1.0, which means you’d start 2013 needing to get all new clients.
What’s a good number, an indicator of a successful, healthy practice? You tell me. We are establishing a baseline here, and once you know your 2012 number, it can give you something to aim for in 2013.
So get your client book out (or look on your computer), but by all means get to work!
Road to Boston: Week 19
A little good, a little bad. Winter has returned to Colorado; I enjoyed a weekend training in sunny warm LA, but am now back in the throes of 20-degree weather. And just for fun, my right calf has started acting up (it must have felt left out). So the grind continues.
Care to receive more from Les, but in smaller bites? Follow him on Twitter at @abmp_les.