No matter the industry, competition is fierce, but none more so than in dentistry. Significant challenges and disadvantages are always presented in the face of dental marketing, and marketing misconceptions make it more difficult for dentists. Although, in order to be successful, you need to get around them. This is the process of evolving your dental marketing strategy.
Your competition marketing strategy should never be stagnant. Marketing competition is healthy and it will force you, or your marketing team, to innovate. Success comes down to your marketing strategy that not only works in the short-term for the long-term as well.
So, what tips will serve your marketing strategy well to beat off the competition? Read on below to find out.
Know Your Market Audience
Fundamentally, who is your marketing strategy directed to? It’s one of the first parts of your strategy you need to answer. Your marketing data needs to be tailored to who you’re trying to reach. What audiences seek is a personalized approach of your communications so you can express direct value to them to grasp their attention. Known as a unique value proposition (UVP), your data needs to offer clear benefits, demonstrate how you’ll meet the needs of your audience and why they should choose you ahead of other competitors. Offer quality and value at a high speed, but before that, you must know and understand the demographic.
Expose Your Strengths
No matter if a competitor has a better product or service than you if it’s not marketed correctly, it is likely to fail. Every competing company has its weak points but equally has effective strengths. In order to divert attention towards your dental services, expose your competitor’s weaknesses as your strengths and place these strengths in a way that can outperform your competitors. Exploit these strengths through an effective communication strategy so your customers know your selling points, why they’re important and how they make your dental practice the better choice.
Continuous Strategy Improvement
Every facet of your dental practice can always improve, not to mention your competition marketing strategy. Do not fall into the mindset of neglecting your strategy and diverting your attention away from it in the hope that it works for you. Develop a change-oriented mindset that allows you to continue to keep the focus on your competitors, counter their weaknesses, keep track of patient demand and regularly evolve the status quo. The only way to maximise value in your competition marketing strategy is to adapt to patient needs, which change regularly.
Keep Track Of Your Numbers
Do not neglect your numbers. Do not assume your numbers are high enough to be successful. For your practice to remain successful, your numbers need to build. Here are some examples:
- Return on Investment (ROI) – Your true ROI is made up of the number of patients, their average cost value and total revenue. Identify your expenditure and revenue over a yearly period to determine how impactful your ROI numbers are.
- Growth Projections – Maximize your marketing efforts and ensure that you have a future growth projection or target to work towards.
- Patient Cost Acquisition – What does it cost you to acquire new patients? It is considered an expense. You may need to spend more than your competition to acquire them.
- Number of Patients Each Month – Touching on this as part of your ROI, your patient is one of the most powerful assets and a steady flow of patients is the key to success.
One thing that really reflects well on how well your dental practice is doing is through online reviews. This can demonstrate a leading position ahead of your competition. Click here to read more.
Are you seeking support to improve your competition marketing strategy to move ahead of your dental competitors? Contact us for a consultation at Smile and Grow today and we’d be happy to help!