How To Boost Profit Margin with Aquatic Therapy

For wellness, recreational and physical therapy centers looking to increase profit margin and their client base, adding aquatic therapy to your facility seems like the perfect thing to do. ‘But how do I know it will be a worthwhile investment? How can I increase our facilities profit margin?’ These are the questions that Executive Director of WSPT (Physical Therapy, Aquatic Therapy and Wellness) Daniel Seidler, PT discusses in his article featured in ADVANCE.

After investing the time and money to add aquatic therapy to your organization, it is vital to focus on marketing! Marketing a new product or service of any kind is a huge commitment, but if you are willing to put in the work, there is no doubt you will reap the benefits.

5 Steps For Boosting Profit Margin With Hydrotherapy

Step One: Investigation

It is important to do some digging through various data collection techniques (phone calls, interviews, e-mailing, etc.) to learn more about your customers. In addition to dealing directly with customers, investigate more by speaking with other organizations in the industry to hear what the needs and desires are for their clients.

As a result of this process you will:

Know how to proceed with the aquatic therapy program
Know your organization previous failures due to unwanted campaigns
Bring your into the spotlight by publicly announcing the changes you are making to your clinic.

Step Two: Evaluation

Next, gather all the information from the investigation process and then develop various aquatic therapy services, offerings and strategies to suit the needs of your clients. This step is very exciting because you learn about the unmet needs of individuals, therefore enabling your facility to have that extra edge!

Step Three: Equipment Investment and Pricing

Throughout this process, it is important to make sure that you have invested your money in the aquatic therapy equipment that suits the needs and desires of your customers.

In addition, at the time of purchase, be sure to look over the financials of this new investment and how long it will take to generate a profit. This step cannot be done properly without the research of your customer’s needs and desires.

Step Four: Marketing, Marketing and more Marketing

Once you have evaluated your customers and decided what equipment to invest, then it’s time for marketing!

Never become complacent or comfortable with your marketing strategy because a competitor will come in and take over when you back off even just a little. Seidler, speaking from experience, says “for instance, if we had rested on our laurels, we would have missed the whole social media marketing trend.”

Building credibility is a must in order to generate any new leads or interest with your products and your company, as well as maintain your current customers. Building credibility is a result of your marketing campaign, which can be done in many ways:

Create exciting programs
Provide educational information about your therapy
Discuss and publicize your company’s experiences and accolades
Attend wellness expos, events and trade shows
Develop a presence in the community

Step Five: Consistent Re-Evaluation and Re-Invention

The last step, but not the stopping point for your program, is to track your results, regularly update and “re-evaluate” your strategies. Look for new innovative ways to market your aquatic therapy services as well as reduce costs.

Knowing your customers and marketing your aquatic therapy products effectively has been proven beneficial for companies working on increasing their profit margins.

This post was last modified on May 23, 2023 2:27 pm