Establishing a business is one of the avenues used by many self-made millionaires to grow their wealth. Undoubtedly, building their own business helped them achieve financial freedom. Success will not come overnight. It will involve hard work and determination to make the business work.
Review Wave Matt Prados shared that getting new customers and turning them into loyal clients is hard work. It is inevitable to turn a business into a success story. One of those success stories is about how Matt built a multi-million-dollar company from scratch. In 2012, he established the software company, Review Wave, which provides the leading platform on reputation management and review marketing.
Getting To Know Matt
Matt had only six weeks of traditional college and a non-technical founder, yet he successfully built a thriving software company. His success is a confirmation that anything is possible in entrepreneurship if you will put your heart into it.
Matt’s entrepreneurship journey began not as the founder of a software company. He started the first of his two companies 12 years ago. It is a digital marketing company that offers AdWords, Facebook ads, conversion optimization, and other digital marketing strategies to chiropractors. “We grew from zero to a million dollars annually, pretty much immediately,” he said.
Meanwhile, his second company, Review Wave, started several years later. The software company helps chiropractors, doctors, dentists, and other healthcare professionals provide a better healthcare experience to their patients through automation.
Matt admitted that he never ran a software company before, but he has a good idea of the metrics to monitor carefully. He said that running a digital marketing company became his foundation in managing a software company.
“Honestly, I am a non-technical founder, but I have a superpower to talk to developers and geeks and get what I want. My ability to communicate properly is among my greatest advantages. Communication is the basis of all success in everything in life. And I had sales and executive backgrounds, so running my software company was completely new to me,” Matt explained.
Learning Patient Experience
Six years ago, Matt asked some of his best clients what made them do better with their digital marketing. “We discovered that the common denominator among them is reviews,” Matt noted. His team urged their clients to get more reviews and started coaching them to boost their reviews. When the results came, Matt saw something puzzling about it. Clients who were already doing well in reviews got slightly better, while those who did not have any reviews continue to struggle to get one. He realized that data was showing there was a problem.
Matt thought that automating the feedback request could solve the problem. He developed the first version of their software on feedback process automation. “The first software version replaces the staff and the confrontation part with the patient with email and texting,” Matt explained. Everybody got results due to automation. Once again, they discovered that the results were vastly different. Clients who were already getting good reviews got way more reviews, while those who already have fewer reviews only got a limited number of reviews. The results baffled Matt for quite some time.
Matt was determined to find the root cause of the disparity. Hence, he examined the negative feedback to know what people are saying and why they are unhappy. In due time, the answer became evident – the patient experience. His team focused their effort on streamlining specific business processes of healthcare professionals so people will have a better healthcare experience. They start adding various features that provide convenience to patients. “We added mobile apps for the patients, allowing them to book a schedule online,” he said.
“We all had good doctors or unpleasant bedside manners, and that is not a great experience. We also had those not-so-great doctors but with great bedside manners. It did not lead to a good outcome either. That is why we developed the software for doctors who are among the top in their field to become better with the personal side of healthcare,” Matt narrated.
Matt said that they utilized technology so healthcare providers can boost the healthcare experience of their patients. “We made our software super easy to use. We also kept the interface clean. Our software offers convenience to patients,” he added.
Impact On Their Clients
Matt shared that their software helped chiropractors, doctors, dentists, and other healthcare professionals get good reviews and acquire hundreds of new patients every year. “We have clients who are a good number of new patients annually using our software. In some instances, they even canceled other marketing programs and only used our platform for their marketing efforts,” Matt explained.
Matt said that they have a recent client who is now reaping the benefits of the software. Previously, the client utilized marketing programs that brought him an average of 280 new patients every year. But when he started using Review Wave in 2019, things got better. The client acquired 307 new patients in the first year and 400 new patients in the following year with no external marketing.
Another success story is about a female chiropractor who previously hates going to work on Monday. She could not enjoy the weekend because she is worried about the tons of messages from people who want to set a schedule or change their appointment date. “Our software solved all her problems. Now, she is getting excellent statistics while enjoying her work and her family life,” Matt added.
Matt said that their software brought good results to their clients, which allowed the company to acquire active clients from zero to 2,500 in only five years. “We became successful because we focus our efforts on improving patient experience. Our software made life easier for the healthcare providers and their patients,” he continued.
Learn how to automate your healthcare business to create a better patient experience with Review Wave founder Matt Prados by visiting https://www.reviewwave.com/.
