Published by Madhu Singh on
Wed, Aug 25, 2021 @ 08:08 AM
Sometimes, measuring the same metric everyday is the most effective way to track the smallest changes that could impact your revenue significantly. When it comes to frame sales, it's important to figure out which products you could be selling more of and which high-demand products you might need more supply for.
The following three metrics can help you improve your optical dispensary sales. Before you start calculating, we want to make sure you have the best tools in place to keep track of your inventory, daily sales, popular frames, and optician performance. Consider using a frame board management tool such as EDGEPro, which is embedded in Uprise pro, or ABB Analyze.
3 Game-Changing Optical Dispensary Metrics
Daily Photochromic % Sold
It’s no secret that photochromic lenses are lucrative for your optical sales. That’s why they’ve taken up 23% of all dispensary orders. There are a few reasons your practice’s average might be lower. It’s possible that you mainly sell contact lenses or your patients aren’t as exposed to the sun, which means they have less of a need for photochromic lenses. Many glasses-wearing patients are aware of lenses that are light adapting, but they may not realize why they could be beneficial to their specific lifestyle. If you’re falling beneath the industry average, you can emphasize to your patients that photochromic lenses protect eyes from both UV rays and blue light. This is especially relevant to patients who work remotely on their computers 8 hours of the day. Also, set photochromic lens goals for each optician to ignite their competitive side and incentivize with a bonus for those who exceed the goal.
Daily Anti-Reflective Coating % Sold
Another place you could improve your sales is through marketing different lens coatings. However, some patients aren’t aware of the options they have. Once your optician explains how AR lenses function, you’d be hard pressed to find a patient who doesn’t recognize the value in anti-glare coating. We recommend setting a desired range for this ratio as a quarterly goal for your opticians. Not only will this help improve your revenue, but it is easier to improve spend per patient than to increase the amount of total patient orders.
Daily Multiple % Sold
If there is room for improvement here, you’ll want to make it known to your staff. We know that making a second pair sale is a big challenge for most practices, but the selling responsibility shouldn't be entirely on your opticians. As the OD it's your job to plant the seed early and recommend or prescribe the need for more than one pair of frames. Start out with the plan to sell multiple pairs to a single patient at least once a day and see how your profits improve over a week or a month. Encouraging teamwork and motivation with sales incentives can help your staff provide better service to customers in your dispensary. Popular ideas include a monthly team bonus if a goal is hit, $10 bonus for every second pair sale, or a 20% profit for each multiple frame sale.
Access these calculations and 5 more in our ebook, 8 More Optometry Practice Metrics.