Realself Conversion Rate Statistics for 2018
Conversion rate is one of the most important marketing metrics to look at when evaluating the overall health of your sales pipeline. Conversion rate, as it relates to our purposes, represents the number of “contacts” that successfully progress from one stage of the funnel to the next.
The problem is, there are a myriad of variables that can affect conversion rates for aesthetic practices. From first contact with your practice online, all the way through consultation, numerous components can make or break “the sale”. On the bright side, this means there are many things you can adjust in your practice to see your conversion rates improve.
To look at some of these variables in practice, we decided to take a look at one of the lead sources that the majority of our plastic surgery clients use – RealSelf.
We selected 11 practices and pulled data going back for the past two years. Below are some insights discerned from the data on RealSelf leads.
- The average response time to new leads was 5 hours and 48 minutes.
- MyMedLeads recommends calling leads within 21 minutes to maximize the potential of a new lead scheduling a consultation. The faster you call a lead, the higher the likelihood of them becoming a patient. In fact, our research shows that calling leads within 21 minutes results in a 65% higher lead-to-consult conversion rate when compared to practices that wait 3 hours to call leads back.
- The average lead was contacted (manually) 2.3 times before giving up on it.
- MyMedLeads recommends a total of 7 touches per lead before hanging up your hat (at least 3 of which should be outbound calls, manual texts or emails). Automated messages are fine but should not be the only communication the lead receives from you. Never underestimate the power of “personal touch”. Studies show that offices that followed up at least 3 times with leads had a 45% higher conversion rate as well.
- 9,380 leads were generated by RealSelf. Of those, 1,451 scheduled an appointment with the practice.
- These leads produced $5,421,125.86 in revenue for the practices, or approximately $3,831 per converted lead.
- These numbers do not take into account future spend by these patients.
- The practices with the lowest conversion rates did not have drip campaigns set up within MyMedLeads.
- Of the practices with the top 3 highest conversion rates, 2 had procedure-specific lead nurturing campaigns set up.
- Based on revenue produced, compared to the total number of leads received via RealSelf, the value of a RealSelf lead came out to $578.
* Note: Two practices have Automatic Revenue set to On, which means that we pull revenue weekly from their Nextech practice management software. Revenue from other practices is input manually.
Improving Conversion Rates on Your RealSelf Leads
According to Marketo, “Approximately 96% of visitors that come to your website are not ready to buy”.
This stat highlights the importance of proper lead management, and illustrates how much work is required to get your leads to commit to buying from you. Based on the data above, we can see that most practices don’t abide by best lead management practices. All it takes is improving a few elements in your sales process to move your practice to the front of the pack:
- Calling leads faster
- Following up more frequently
- Nurturing leads with relevant content
From the data, we can also see that there is a lot of money being left on the table. Granted, with an online community as large as RealSelf (last year, nearly 94 million people visited the site from more than 100 countries) you are going to get your fair share of tire kickers and individuals just looking for pricing information. But, if you take the time to implement the simple changes mentioned above, you will see your conversion rates start to climb and your revenue quickly start to improve.
Changes Coming with MyMedLeads 2nd Generation
With the release of MyMedLeads 2nd Generation, each practice will be sent a weekly score showing key conversion rate stats, along with how their practice is doing in comparison to all other practices (anonymously).