In the following case studies, we have changed the names of the Optic2000 Club Members to protect their identity.
Prudence Woods owns a long established, town centre practice. Her excellent standards of care meant that many of the local GPs referred their Px to Prudence. This resulted in a disproportionate amount of clinical work coupled with poor conversion rates.
The initial Optic2000 Club analysis demonstrated that Prudence's conversion rate was 16% below the median figure. Prudence called the free telephone support service to help define precise financial objectives for the following twelve months. Her marketing expert was able to recommend several tactics to introduce more Px who actually wanted to buy quality spectacles following their eye examination. Within two months conversion rates had reached the average level in the UK. In addition, dispensing values had risen to a level slightly higher than the UK median.
Adam Pankhurst is an optometrist in partnership with DO James Carroll. They have two branches, one on the outskirts of the city, the other about 20 minute’s drive away. Both are general practices, although the suburban practice is relatively up-market. Anecdotal discussions with their local tax office led them to believe that their profits were less than HMRC had expected. This prompted a tax investigation.
Their Optic2000 Club Report demonstrated that the dispensing values were about 40% below average. Our marketing consultant showed the partners how to increase dispensing values without altering the culture of the firm. Almost immediately sales turnover increased by £450 per day. After three months net profit margin had exceeded the expected profile and HMRC were satisfied that everything was above board and dropped the investigation.
Stephen Newton is an optometrist who owns two, part-time, country branches. A recent advertising campaign had led many Px to believe that a chain store that was about a 15 minute drive from both practices was cheaper than Mr Newton's practices. Px throughput and profit had declined at both of Mr Newton's practices.
The first Optic2000 Club Report showed that the numbers of private Px were 11% below average. Sales were almost 28% below average. Compared with the other independent opticians in that month’s Optic2000 Club sample, Stephen was in the bottom 10%. When Stephen called the free telephone support line, our marketing expert recommended a simple technique to increase the number of private Px. The following month, sales increased by over £3,200.
Dipak Patel runs a busy suburban practice. Although successful, Mr Patel felt that he tested more Px than other OOs.
Dipak's first Optic2000 Club Report confirmed that his examination rate was 45% higher than the average optometrist and that his dispensing values were in the lower quartile. One of our marketing consultants showed him how to cut the daily number of tests and boost the sales revenue. Dipak now spends more time managing his business and less time churning out sight tests. He even has time for the occasional game of golf!
Mr & Mrs Forde own five practices. Over the last three years sales have plateaued (at about £1m) but costs had risen. Profits were under severe pressure.
Their Optic2000 Club Report highlighted a relatively poor dispensing rate (8% to 18% below average) at four of the five branches and comparatively high staffing ratios across all branches. Our consultants gave Mrs Forde some instant help that not only increased sales by the equivalent of £270,000 per annum but also improved Px care.
Jack and Gill Lewes are partners in a busy town centre practice with an affluent population. When they received their first Optic2000 Club analusis they were shocked to learn that their sales per Px were among the bottom 20% of independent opticians but their work rates were among the top 30%.
A quick call to our free telephone support line identified a faulty frame/lens price structure. Our consultants recommended a Pricing Policy, which they implemented immediately. One month later, the Lewes’ second Optic2000Club analysis showed monthly sales up by £4,100.
George Carpenter is the owner of an independent OO in a small town. His local bucket shop introduced a never-ending BOGOF deal coupled with free eye examinations. Mr Carpenter appeared to have lost market share as a consequence.
The first Optic2000 Club Report confirmed that George’s dispensing values were about average but that the dispensing rate was 18% lower than expected. At the same time, the firm employed about 25% more support staff than expected for the existing workload. One of our marketing experts suggested a simple case presentation technique that stopped Px drifting towards the cheap competitor. Later Optic2000 Club Reports showed that average monthly turnover had increased by almost £3,500.
Peter Winter is one of three independent opticians in town. The nearest optical superstore is 6 miles away. Recently, a new independent moved in, with a focus on designer eyewear. Mr Winter noticed that a significant number of the more affluent Px were not responding to recall letters.
Peter’s first Optic2000 Club Report showed that the Px volume had fallen by almost 7%. The sales were down by 13% in the same period. One of our marketing consultants recommended a Recall and Reminder Pack which Peter used to improve the response rate from his existing Px. Dispensing values and conversion rates also increased.
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