How to Market a High-Ticket Service — Transcript

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1. 0:00I run a clinic that's
2. 0:02does mostly telehealth and
3. 0:03part of it is in person highly technical
4. 0:05procedure called TMS for depression.
5. 0:07>> Okay.
6. 0:08>> We do about 3.5 in revenues our eighth
7. 0:10year. I started right after residency. I
8. 0:13would like to be about five million
9. 0:15revenue and what's stopping me is first
10. 0:17of all the in-person procedure is a
11. 0:19highly technical procedure requires a
12. 0:22lot of training and not a lot of other
13. 0:24referral sources know about it.
14. 0:26>> Right.
15. 0:26>> of people are depressed but nobody
16. 0:27really think people think it's ECT or
17. 0:29you're getting electric convulsive
18. 0:31therapy. It's covered by insurance. We
19. 0:33take all insurances. So my for that it's
20. 0:36finding referral sources getting trust
21. 0:38from clinicians who want to refer or
22. 0:40direct to consumer marketing.
23. 0:41>> Mhm.
24. 0:42>> And then for the telehealth portion
25. 0:44retention of clinicians who often quit
26. 0:48and finding patients. So
27. 0:50um it's very hard to hire a nurse
28. 0:53practitioner even who makes $190,000
29. 0:55$180,000.
30. 0:56By the way great career a lot of money
31. 0:58right out of school. But when they leave
32. 1:01we are devastated cuz they have hundreds
33. 1:03of patients and we have to hire again
34. 1:04really fast. So that's limiting our
35. 1:06growth
36. 1:07just off top of my head.
37. 1:08>> Okay.
38. 1:10So what's stopping me is you would like
39. 1:12more patients not sure what source to
40. 1:14get them from. You do have some issues
41. 1:17where if staff leaves that limits your
42. 1:19supply.
43. 1:20And you want to grow by 30%.
44. 1:23>> Yes.
45. 1:23>> Okay. So right now can you handle more
46. 1:26customers or not?
47. 1:28>> Yes.
48. 1:29>> Okay. How many more customers can you
49. 1:30handle?
50. 1:31>> It's a balancing act between
51. 1:33>> more customers?
52. 1:34>> Yeah balance act between like I'm hiring
53. 1:35two or three new clinicians a year.
54. 1:37>> Okay.
55. 1:38>> We can never fill them and then they get
56. 1:40angry and they want they're like I have
57. 1:41I signed up for full time you're only
58. 1:43giving me half time and we won't pay you
59. 1:45per hour. So the way we compensate needs
60. 1:47to probably be thought out.
61. 1:48>> Okay.
62. 1:49>> Yeah.
63. 1:52>> You know I'm not I'm not um
64. 1:55I don't [clears throat] have any MPs
65. 1:56that work for me.
66. 1:57Uh
67. 1:58but I would probably try and ask like,
68. 2:00"What do you want?"
69. 2:02Like what would what would what would
70. 2:04make this uh opportunity compelling
71. 2:05enough for you to stay? Because we want
72. 2:07to just continue to invest in you. Um it
73. 2:10makes it difficult for us to do that if
74. 2:11we're not sure if the investment walks
75. 2:12out the door within 12 months. Now that
76. 2:14being said, someone stays 5 years,
77. 2:16you won. You know what I mean? Like you
78. 2:17had you had a pretty good pretty good
79. 2:18stay.
80. 2:19Um
81. 2:20so
82. 2:22you are demand-constrained. So it's
83. 2:24basically you need to get more patients.
84. 2:26If you get more patients, you can fill
85. 2:27up the MPs. If you can fill up the MPs,
86. 2:29they'll be happy they're more likely to
87. 2:30stay uh because they actually have a
88. 2:31full roster and they're making as much
89. 2:32money as they want.
90. 2:33>> Yeah.
91. 2:34>> Okay. So we have a demand constraint
92. 2:35just from a focus perspective. Okay. So
93. 2:38if you demand-constrained, then you said
94. 2:39you alluded to earlier, we can do uh you
95. 2:41know, there's you know, there's an
96. 2:42affiliate path. That's one way which is
97. 2:44you can find other providers who send
98. 2:45you send you business. Uh but you're
99. 2:46saying a lot of them don't know what you
100. 2:48do. Um obviously you could solve that
101. 2:50with education and outreach.
102. 2:51Um
103. 2:52we could do direct-to-consumer. The
104. 2:54question is
105. 2:56>> The thing is is that we do Google and
106. 2:58Facebook ads currently.
107. 2:59>> Yeah. The I mean I like
108. 3:00direct-to-consumer personally just cuz
109. 3:03most people in that space suck at
110. 3:05advertising, so it's like not that hard.
111. 3:07Um
112. 3:08but the reason so something of this is
113. 3:11I'm going to go like underneath of your
114. 3:12question to something that I think will
115. 3:13be more valuable for you, which is you
116. 3:16have the Harvard medical etc. background
117. 3:19and you're probably a very bright guy.
118. 3:21You have to take how you advertise down
119. 3:24100 [ __ ] levels.
120. 3:25>> Mhm. [snorts]
121. 3:26>> Uh I'm being super real with you. Uh
122. 3:28there's a reason that I run every single
123. 3:29piece of copy through Hemingway and I
124. 3:31get it, you know, below fifth grade, uh
125. 3:34ideally below third grade uh reading
126. 3:36level, because if someone has to pause
127. 3:38when you say a word, you've lost them.
128. 3:40>> Mhm.
129. 3:40>> Because you're already onto the next
130. 3:41word and they're like, "What did that
131. 3:42other word say?" And then they're trying
132. 3:43to think like, "What does this mean?"
133. 3:44They're not listening to what they're
134. 3:46they're trying to decode rather than
135. 3:47just immediately absorb. And so I'm I've
136. 3:50the more I've been doing this, the more
137. 3:51I'm an advocate of clear over clever.
138. 3:53>> Mhm.
139. 3:54>> And
140. 3:55for your marketing, you said
141. 3:57not your marketing for for for the
142. 3:59business, you said it's highly
143. 4:00technical, it's very advanced, it's hard
144. 4:01to train people up on this thing, it's
145. 4:03hard to explain how this works,
146. 4:05insurance covers it.
147. 4:07If I'm if I'm the consumer, I care about
148. 4:10sad face go happy face.
149. 4:12>> Mhm.
150. 4:12>> Right? And I care about insurance
151. 4:14covers.
152. 4:16>> Mhm.
153. 4:16>> So, if you say, "I'm Harvard medical
154. 4:17doctor. I tell you you sad face. I can
155. 4:20make you happy face and insurance covers
156. 4:22it and it's more effective than talky
157. 4:23talk." I'd be like, "Fuck yeah."
158. 4:26Right?
159. 4:27>> Yeah.
160. 4:28>> And I think honestly, that's probably
161. 4:30what's missing in the advertising and
162. 4:33sales process, which is you need to
163. 4:34strip away everything that you currently
164. 4:36say that's medical and just speak to
165. 4:39what the avatar, you know, the customer
166. 4:40who is depressed with meet them where
167. 4:43they're at. And I think that if you if
168. 4:45you can advertise in that way, any of
169. 4:46these channels will work, but I do think
170. 4:48the if I were if I were you swapping
171. 4:50places, I'd probably go the ad channel
172. 4:51personally.
173. 4:52>> Okay. How about telehealth? Is there
174. 4:53something different there?
175. 4:54>> No, same thing.
176. 4:55>> Yeah.
177. 4:56>> Yeah, I would say local is if I had to
178. 4:58pick like what's the easiest button,
179. 5:00local services that are high ticket is
180. 5:02like
181. 5:03like it's hard to lose money.
182. 5:06>> Okay.
183. 5:07>> Because you have because in person, you
184. 5:09have so much less sophistication in a
185. 5:11local market and local competitors. And
186. 5:13so, it's like if you if you study the
187. 5:14stuff that we do when we're competing on
188. 5:16a global level and you put it in, you
189. 5:17know, Kentucky,
190. 5:19you crush everyone. It's like not even
191. 5:20close.
192. 5:21Like
193. 5:22you just drop a pin on the map, you say,
194. 5:23"Okay, you know, 25-mi radius." And like
195. 5:25you're just competing against everybody
196. 5:26in the 25-mi radius. You're hard
197. 5:28probably the only Harvard guy who's
198. 5:30doing this in the 25-mi radius. So, you
199. 5:32literally
200. 5:32>> I'm in Boston, unfortunately. So, I have
201. 5:33MGH, Brigham, Yeah, they're all there.
202. 5:35They're all
203. 5:35>> Whatever, [ __ ] it. It doesn't matter.
204. 5:36So,
205. 5:37>> [laughter]
206. 5:38>> I stand by my original statement. And
207. 5:39but like but the thing is is here's the
208. 5:41good news is that the thing that makes
209. 5:42you great, right? You're very smart, did
210. 5:45the medical stuff, all that, is actually
211. 5:47is going to be everyone else's weak
212. 5:48point, right? Cuz all of them, you
213. 5:50probably know this, all of them have
214. 5:51massive egos and all of them are like,
215. 5:54"Well, every if they can't understand
216. 5:55me, then they're too dumb to be my
217. 5:56patient." It's like, "Yeah, and you'll
218. 5:57just be poor."
219. 5:59Whatever.
220. 6:00So, if as long as you can just basically
221. 6:02quiet that part of, you know, your brain
222. 6:04and turn on the how do I make this as
223. 6:07simple as possible so they understand
224. 6:08it, you'll still crush them. And then
225. 6:09they'll be upset and assume you're doing
226. 6:11something wrong or you have somehow made
227. 6:14money in a way that they would not
228. 6:15prefer.
229. 6:16>> That's right.
230. 6:17>> And so, I will translate cuz you will
231. 6:19start advertising and the more of my
232. 6:20stuff that you, you know, you go through
233. 6:22it, the work with us on it,
234. 6:24um
235. 6:25the better it will work
236. 6:26and the more they will hate you because
237. 6:28you're doing something that they don't
238. 6:29do. And then they're just going to
239. 6:31decide that morally they're superior to
240. 6:32you because you've lowered yourself uh
241. 6:35to advertise your business.
242. 6:37Just as a prep.
243. 6:37>> Thank you so much.
244. 6:38>> [laughter]
245. 6:38>> Thank you.
246. 6:38>> You bet.
247. 6:41By the way, if you ever get like hateful
248. 6:42comments, the easiest translation in the
249. 6:44world is, um
250. 6:46you live your life in a way that I would
251. 6:48not prefer.
252. 6:50It's just the easiest thing like that's
253. 6:51how I've gotten over
254. 6:53many, many, many, many negative
255. 6:54comments. Like, "I can't believe he's He
256. 6:55lives his life in a way I would not
257. 6:56prefer."
258. 6:57Okay.
259. 6:58You can live your life whatever way you
260. 6:59want. If you're not getting as many
261. 7:01leads as you want and your business is
262. 7:02demand [music] constrained, meaning you
263. 7:04could service more customers than you
264. 7:06currently have, then this is for you.
265. 7:08So, marketing is changing and I think
266. 7:10ACQ [music] tends to be on the bleeding
267. 7:11edge of the stuff. We certainly spend
268. 7:12the money
269. 7:13to do it, but we also build [music] a
270. 7:15custom software and we pay amazing
271. 7:16vendors and very expensive people to
272. 7:18figure out the system that we have right
273. 7:19now and I want to share it with you kind
274. 7:20of open kimono style. If you're not
275. 7:22getting as many leads as you want, boy,
276. 7:23do I have the thing for you. Click
277. 7:24below, book call and
278. 7:27hopefully I'll see you in Vegas.