MATT COFFY: All right, once again, we are going to do some real-time results. Thanks James, for jumping on with me. James runs the portion of the accounts that have a lot to do with multiple medical formats. And we have so many different clients. We try and do a good swath of different ones every couple of weeks. When we do, these systems show you guys or show you, the listener or the viewer, especially if you are an owner of a practice or an owner of a business or a manager of a business, trying to make sense of how to get more patients through the door. You know, we run hundreds of accounts with thousands of campaigns and we see all this data. So we try and get it out to you to show you what's going on. And this one I love, we're going to start off with one where they tell us because it's too much, shut it down, right. Too many leads, too much going on, too successful about that. So talk to me about this one, James.
JAMES KING: Sure. And actually as live as we're doing it, cause I just got the text from the client. I got to shut it off. So there we go. Now they're off because he requested. So yeah, this is sport and spine. He's a physical therapist. He had a certain method which he's created his own method called the Welton method. The client's name is Ryan Welton and we've been running with him for over a year now. And he does a great job. He's a great closer. We send him a ton of leads. He does a lot of videos for what he does to show off his method. You'll see here, we have a ton of videos. These are all the different hands that we kind of pop in and out. He does a $21 evaluation and treatment offer to get them in the door. He closes upwards of 50, 60%. He's like a last resort when you've gone to your typical therapist, your typical chiropractor and they still can't. His method is kind of, helps him get pain relief. And he does it for one, a couple of the Florida Marlins baseball players. And yeah, like I said, he we're at this point now we are basically running ads, maybe three, four days a week and we're turning them off for the others because in those three, four days, he's packing up his schedule. So he's talking
MATT COFFY: How many, leads does he get on a day
JAMES KING: In a day's time he's averaging now he spends a nice amount of money is about a six, $7,000 a month ad buy. He's getting upwards of on average 10, you know, some days it's 15, some days it's 10. So they just 12, but he's somewhere in that range. yeah, he's packing them in. And like I said, he closes more than half of them. Right My closing. I mean, he gets them in the door and paying
MATT COFFY: Well, this is a good lesson for people who are in the physical therapy chiropractic world and the rest of it. Who's involved in, in sort of break fix, right There's a number out there. He figured it out. Like he knows. If he spends five, six grand a month, he's placed will be jammed, right It's worth it for him. And we always talk to a lot of them, the problem with chiropractic and PT shops, they never spend enough. They talk a big game. They want to have a million patients, but they never put the money down to make it happen. This guy says, okay, let's do it. And he knows that he literally, we have to shut the ads off because he's too booked. So the question is, if you're a PT guy or gal or chiropractic or any of the break fix stuff, that's out there where, you know, pain is the issue and you want to do this.
MATT COFFY: We see it all the time. $29 evaluation, $28, $27. Right He does 21. Whatever the thing is that, you know, you want to bring the customer in an offer. The patients is there. It's a matter of repeating the message into the market, but you have to spend enough to get the thresholds that you want. So if you want to be busy all day, if you say, I want my book, my books all filled up, okay, this is how it works. If you want them all booked, it's probably going to be about five grand a month of spend and you will be booked consistently. If that's
JAMES KING: Just to add to it, Matt, this is the only advertising he runs. So if anybody's watching this and they're like, well, maybe he's doing Google ads or he's running, you know, some kind of old traditional average, this is it. This is the only money you spent. This is what, this is, what drives his business. End of story. That's it.
MATT COFFY: And we've seen this before, whether it's New York city, when we did Dr. Perna, we used to run all sorts of stuff for him. And again, he got so busy. He sort of slowed down because it was at a point where even with a 6,000 square foot facility, you know, there's a certain limitation of time and operators and rooms and all this stuff you have to consider. But the moral of the story is, and we learn this ourselves with our own advertising. And now we spend 10 grand a month just for ourselves as, as our business practice member. And we're so busy, I can't even handle it anymore. I'm like now I have to hire salespeople. And I think the questions are always going to come down to, don't go at this thinking you want to limp in because that it makes a negative approach, right
MATT COFFY: You end up with the wrong end of the stick because you don't get algorithmically displayed enough to make enough money. And then you think it doesn't work because you said, well, if I did this and if I ratchet it up, it's going to be worse. Well, that's right, because that's the only way you've seen it. But if you saw it from this side where we see, well, we see people's schedules being completely booked. And we say, okay. Yeah, of course they have to spend 500 bucks a day to do this or whatever the number comes out to be. But if that's what you want, if ideally you say, I want my schedule so booked that I can't even see above the patients. Right. All right, let's do it. And I think that's a big lesson, especially for physical therapy and chiropractic. It is a huge market with a huge demand and a monstrous amount of competitors. The only way to do it is to break through with something like this, where you're just, you're over extending yourself into the network over and over and over, over and over and the retargeting. So talk to me a little bit about that, but we'll move on to the next one about how the retargeting works in this case
JAMES KING: And, physical therapy shore. So I mean, the case of, let me go back to his here. So in his particular case, actually we have the retargeting off right now, but yeah, we would get people, we re target engagement and landing, landing, page views, and completions, right Because after they complete the landing, you know, they're submit their name, email and phone number. They have the ability to book, right So even though Ryan has a great closing, he'll call them back immediately. Right He wants that. He doesn't get, we get on the retargeting end of things. Right. We're targeting people that we know you were there. We know you looked at the landing page. We know you submitted your information, but you've never booked online. And then we'll send them a retargeting ad that tells them, you know, book now. And then he picks up another five, 10%, right.
JAMES KING: Without him ever even touching them, you know what I'm saying Calling them, emailing them. It's just straight. They call they book. Right. It's on top of him. Great closing. In-house closing. Right. We add on to that with the retargeting. And if they, like I said, we retarget people that like you can retarget on Facebook. You can retarget engagement. You can re target people that have just watched a video, you know, left a comment, you know, landed on a landing page, but never moved anywhere further than, than that. And that's what we do. So we, we target people, new eyeballs, and then we get the new eyeballs. Brian closes, we can close and the ones you can close or get in, can't get in touch with, we come behind with the retarget ads and then sweep them up. So yeah, he's got quite an operation. We've, we've really perfected it with him. And, and we built up a great relationship too. Yeah.
MATT COFFY: So 10 to 15 patients getting booked a day. I mean, this is where these guys all want to be. So now, you know the numbers, you know how it works, this is the, this is it. I mean, if you, if you think there's a better way than this, good go do it. But this is working and these guys are making plenty of profit, especially with the fact that this is, you know, in a good area. I mean, all of this stuff has to count. You have to think about the fact, especially when you talk a population density, you know, Florida, Texas, you know, these big, big monster areas. I've got millions of people. I mean, there's just, you think about the spot. This is 10 to 15 patients out of those millions of people. I mean, it's, it's just, you have to scale this in your head to see what's going on with Facebook. It's touching everybody and you know, you have the opportunity to play right now. and it makes a lot of sense. There's no gambling here. This is like mathematics at the end of the day.
JAMES KING: I mean, just, just look, you know, and is just in total, in total, since, you know, February of 2020, which I think is right around where we started with them or no, it was a few months after, but look, this man has spent over $134,000 and he's made it back, you know, five X, seven X, 10 X, you know, depending on what month it is, he's making it back way more than he's investing in it on a monthly basis. So I know some people get a little scared with these big numbers, but you do make your money back and he's a proof of it. You know, he does a well job. So yeah,
MATT COFFY: Well, after what, 200, almost 3000 consultations over that period of time, I mean, how many patients is that 1500 patients is 1500 patients, worse, worth $130,000. I think that's probably 1500 patients is, you know, if you did the math and the average lifetime value, I mean, that's what 600 to $800 on average.
JAMES KING: And this particular case on average lifetime value is upwards of 2,500, 3000. Something like that, you know, until he gets them where they want to be. So do the math. Yeah.
MATT COFFY: Yeah. I'd say from the initial, just the initial consultation and going through, let's say their first couple of sessions, this is just say $600 on the very low end. You know, you're looking at a million dollars right there, $600, you know, from that, from the 134,000. So that's on the first turns. Right. And if they go further, yeah, sure. I mean, this is multi-millions, but I think the reality is the big numbers scare people. You're right. But break it down to like what this means for you as a business owner and the lifetime value of building an official basis. It's not going to bring in other clients, you know, this is another piece of the puzzle that people don't get, which is that your expense you're taking. I think this is the thing that people get confused with. You know, you have a referral network when you first get started as a business and you have all these people who know you and you kind of grow it slowly because you've got friends and family and you need more people that you see.
MATT COFFY: But when you do something like this, where you're expanding to 3000 patients that you've never had before, or let's just say 15 hundreds, because he closes 50% of these people. It's 1500 new relationships. Times four is really the number, because now you're looking at those people typically referring over their life for people. So you really think about all the new network you're building with these new patients and people don't put that into thought process when they start spending, it's more than just what you see here on paper or paper. I must be old more than you see on the screen. It's actually, you know, a lot more that's going to come through. So,
JAMES KING: And, and, and, and to it, just add it back. You're, you're absolutely right, because those referrals are the reason why he's only running half the week. Now you understand, like, it, it, it, it took a while to get to that point. Cause he wasn't always like this. It's only the last, I would say three to four months where we now turn off after week and on it was him building up for about a year and a half spending what you see on the screen, right there getting in those 1500 times of three, four referrals. And now the referrals are, you know, are an added bonus. You know what I'm saying It's part of the lifetime value of one customer of one patient. So that that's, that this is a new thing that we're starting to see with this client, you know, with the shutting off half the week, we don't do that with everybody, but he obviously made the investment and now it's paying dividends.
MATT COFFY: Okay, well, let's move to the next one because we've kind of, I think we've worn this one through, but I love this next one because it's something that we don't see all the time, but the cost per acquisition is so cheap, which is great.
JAMES KING: Yup. So this is, this is Texas tele-health. They offer, connected devices to monitor diabetes and high blood pressure at home. Right. They send you the free, it's a free, it's like a monthly, I think it's a monthly fee that they pay the clients, but it's nominal. It's not really not much. but it gets them in. They get the, the devices in their hands. We've had the clients, since there we go. let's now we're looking at a 30 day snap here. I can do maximum. I think he started when April yeah.
MATT COFFY: Minimalist. He was in the middle of the COVID. I can remember having a conversation with him. It was just getting out of COVID. He was just getting, just coming through.
JAMES KING: Yup. It was just coming through. I mean, you can take a look here. He's got thousand people claimed, you know, opens up another one, spend the money, you make the money back. Right. where is he And he's not there, but yeah, that's what he does. And it's simple as that. I mean, they, they submit the, the equipment is free, like their monthly fee to, to manage this as really nothing in most of it, a lot of it's covered by insurance. So it's a win-win for him. I think the lifetime value of these customers that he's paying $9, you know, per, per act, what not, you know, when you add in our fee, maybe that goes to maybe 15, $20 per acquisition, but the lifetime value on this is, is over 500, 600, $700 or something like that. So, I mean, again, do the math, right.
JAMES KING: Numbers don't lie and he's doing wonderfully. I mean, and, and the great part about this client is, you know, I've clients like the one previously Ryan Welton, we're in conversation week to week and that's great. It's fantastic. And then I have a client like this, where we just deliver him up all of these leads. We really never even talked to each other. It's on a monthly basis. Right. Just catch up, everything's working great. Terrific. And he's busy doing his business, we're doing our job and he does his job and it's a wonderful relationship. So, you know yeah.
MATT COFFY: And the cost per acquisition is when you're under $10 for acquisition. I mean, you just, you've got to swing the bat as hard as you want, because that's sort of like, you're just going to get volume, you know And, and the funny thing is I know what this guy does because of this monthly retainer can last forever because these go on these monitoring programs and are usually diabetics. And we said, and they have to be monitored. And, you know, especially with COVID, there's all sorts of new rules. So, you know, again, Medicaid, Medicare stuff, you know, we play in this space every once in a while where it's, it's specific to sort of a justification of some of the things that are part of those programs. And that you're right, is that the insurance or Medicaid or Medicare will take care of this stuff.
MATT COFFY: So, you know, there's, there's lots of little spaces in the medical world where there's, you know, spaces to play that have got good return. And also don't take a hell of a lot of work. As you mentioned, we're not killing ourselves. Neither is he, we're switching up ads where maybe changing, you know, the locations and maybe the demographics of the audience every other couple of weeks, but, you know, reality, this is the type of stuff where, you know, we get nice solid results because we we've just asked the customer, just get in the game, spend a decent amount and you'll be fine and let us do our work. And those are the best clients for us. And that's the best for him too, because he doesn't have to bother with it. He just says, basically turn it on and turn it off.
JAMES KING: And I, the guy wakes up every morning to, you know, at least a dozen new leads a day, you know, so we keeping them busy. That's fantastic. That's, that's our job. We're doing it. And we're doing it well with him. So yeah,
MATT COFFY: Let's get onto the next one then, since this was an easy one, I think this one, this one just
JAMES KING: Launched like literally days ago.
MATT COFFY: you show the ad sets on this one. Sure,
JAMES KING: Absolutely. So this is what they call a lunchtime lipo. It's a, nonsurgical liposuction service. these are the ads we're running real simple, straightforward stuff. They're getting 25% off. They, they, you know, they they're marketing it as it's so simple that you could just do it during your lunchtime period. Right. And it's working and people are coming in, it's affordable. like I said, anything that's simple to do and in a short period of time, and people can understand this goes with Facebook ads, right. They, you have to simplify the offers, right You tell him, listen, if you come in for a half hour, 45 minutes, we're able to take X amount of body fat off of you. Wow. Okay. You know, and 25% off, which is already an affordable price, I think for that time period, you know, it's 25% off, it's a couple hundred dollars. Right. compared to the other offers like this in the space that do, you know, fat reduction and fat burning and so forth. So it's competitive. Yeah. So yeah, I mean, we just, like I said, we just started this one, I think out of those eight, they might've booked two already two or three. So I'm already at a 15, 20% closing rate. And literally just launched it a couple of days ago. They're already
MATT COFFY: Net positive a couple of days,
JAMES KING: A few days, you know what I'm saying And the cost and this cost per result, each one is right in the, in the market range for their, cost per leads, which is, yeah. It should be anywhere from 12 to $20 for the, you know, fat burning fat loss field. So they're right in there. Yeah.
MATT COFFY: This is isn't, let's make that correction. This isn't non-surgical, it's minimally invasive, minimally invasive. Yes. I don't think that'd be clear about what it is. I mean, obviously there's a million different ways from Sunday that we have all these different variables on weight loss strategies, which go from full lifeboat to minimally invasive light bulb, all
JAMES KING: Light bulb
MATT COFFY: You're in, or you're out is cost per acquisition at 18 bucks for a lead holy cow. And, you know, we know what that means, which is that the turn on this stuff is going to be a hundred X, you know, if they can, well, they won't book everybody, but you know, you're, you're definitely north when you see a cost per acquisition, around 18 bucks of, a light bulb. I mean, you're talking, you know, I'd say a 15 X return on your investment or return on your marketing spend. Right I mean, things are, are lottery tickets. If you can get these people who are ready to go, especially with lunchtime, cause they know it's fast. So they're going to come in and go out pretty quick. You know, it's timing, it's it's strategy. So this is just great stuff, James, I really appreciate everything today that you and I have gone through.
MATT COFFY: And for these, these accounts, one question I had for you, and this is sort of, it's part of the overall strategy. We, we know we, our theme for this session has been spent. It's been, you know, if you're really putting a decent spend in, you really get a much better result. and I, again, I don't like to say it's the gambling aspect here, but if you go to Vegas or Atlantic city and you put $20 on the table, you know, you're going to get something back. If you put $2,000 on the table, it's going to be so much greater of a, of a difference. If you're winning, not that this is gambling, but I'm just trying to put the correlation together. Is that the scale for Facebook, especially because of how the algorithm works and because of the ability to get above your competitors, it just is such a different thing. It, it, you know, Google's one thing where, you know, you sort of, you're either shown or you're not shown Facebook's algorithm. Facebook is like, you're playing their games. So if you want to do this, if you spend it works and it works a hell of a lot better when you have real spend and that's, that's just the rules of the road. We don't make it, we don't make up the rules. It's just, that's what it is.
JAMES KING: We here to advise you. And I'll be honest with you. That's that's I would say that's the problem with half of the advertisers on Facebook they don't spend. And, you know, we're honest when you sign up with us, you know, we know the spaces, we know the medical spaces, the spa spaces, and a bunch of different verticals, and we know what the spend is to compete. Right. And that's why you pay professionals to tell you that.
MATT COFFY: Yeah. Well, that's what I'm saying. It's the same thing. You know, we've done this a thousand times and we know the people that are going to be troublesome with us are the ones that are already asking like, oh, can I do less You know, do I have to spend that much And we're like, well, yeah, you can spend less, but that's that you're going the wrong direction. You should be asking us how to spend more because that is the real small, the solution to all of this is that you got to figure out how to ratchet your spin up. So you eat your spinning of what I would consider, like the flywheel of this business, the faster you get this thing to spin, it just goes, and then it just, it's an unstoppable then you're going to say,
JAMES KING: And the other, the other thing is also with an increased spend, Facebook optimizes your campaigns, which means, you know, the more people that click in, the more data is collected, the more they can precisely deliver the ads. So with the higher spend, that happens so quickly too. So a lot of people will come in and they'll spend a lot less and it just inhibits the technical optimization of these EDS and they don't perform and they spend less for three, four months and they're like, that's not working. You know So besides the obvious results, end of things, where people actually coming into your place and doing business with you, the increased spend also increases the technical end of things, where now the ads are going to the right, you know, even better, more targeted eyeballs, you know, as you spend more and more people click in and, and the, the artificial intelligence, the AI is learning who these people are clicking in. Yeah, it's, it, it, it has a technical and a business benefit to spend, you know, spend more, make more, but it does it on, on, on all aspects. It just helps out the campaigns, but,
MATT COFFY: Alright, awesome. We'll see you then our next meeting. Thanks James for your time today. And, thank you listener for watching or listening to this episode.
JAMES KING: See you later.