#107a: Claiming Your Market Part 2

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Dental Marketing #90: Making a Good First Impression

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Dental Marketing #80: I'm Planning to Buy a Practice. But Before I Do...

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DMM #44 - Don't Forget to Close the Back Door

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Dental Marketing Mastery #37

DMM -#37: Rural vs. Urban Marketing | Dental Marketing Mastery Podcast



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Dental Marketing Mastery #34

Dental Marketing Mastery #34: The Boogieman of Dentistry 



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Dental Marketing Mastery #29 NPI Crusader

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Dental Marketing Mastery #19: Value Gap. Dentistry is NOT a Refrigerator!

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Dental Marketing Mastery #7: Interview with Julie Mitchell, FAADOM

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Dental Marketing Mastery 2: Market Characteristics

Dental Marketing Services with New Patients Inc.


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Dental Marketing Mastery 1: The Two Halves of the Market

 

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“If you’re looking for the next big thing & you’re looking where everyone else is, you’re looking in the wrong place.” Mark Cuban - Quote from sideqik.com collection

Dental Marketing - Marketing Message!

Great Marketing Quotes - HubSpot.net

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Internet Word of Mouth...

Great Marketing Quotes - HubSpot.net

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July 2013 Newsletter - Let's talk about barriers - Dental Marketing

Let's talk about barriers

In the last issue of this newsletter, we discussed call tracking and calculating/projecting forward return on investment. Barriers have an awful lot to do with the number of calls you receive from your advertising, and in turn, your return on investment. Our objective with the next several issues of this newsletter is to enlighten you on how the public views the barriers, and how you might be able to mitigate the barriers to get a better result.

Price as a barrier

Price is the #1 consumer concern when choosing a dentist. We know this from testing. We know this from investing in completely independent consumer research. We doubt this is a surprise to any of you.

Is it price or ignorance?

We contend, and have proven for the past quarter century, that you can effectively promote a dental practice WITHOUT focusing (visually) on price incentives. As a matter of fact, in 99% of our work, you would have to search for or listen really hard to find any price incentive.

Females choose healthcare providers for their family. Half of those females are turned off by price incentives offered by healthcare providers as the primary focus of their advertising. These females make up the top half of the dental market.

If you look at the subject of price, one can flip it around and begin to wonder if the market truly understands the value and benefit of what dental practices offer. If they did realize and understand the value and benefit of what the dental practice offers, wouldn't price be less important? Yes, of course, especially with the top half of the dental market.

With the top half of the dental market, what you have is almost pure ignorance. Price is the only known concern. They don't understand the benefits of today's dentistry. The only thing they do know to ask about is either the price, or if their insurance will cover their visit/treatment. Fill their minds with the value and benefit of today's dentistry (in your advertising and during the first phone call to your practice), and the importance of price fades very quickly.

How to mitigate the importance of price in your advertising

In your advertising, you first mitigate the importance of price by talking about it! But, you don't have to make a big deal about some new patient special. You mitigate price by letting your audience know other things about price. You are affordable for the whole family. You offer payment plans. You offer patient friendly financing. You are their advocates, and will do everything you can to maximize their dental insurance benefits. You invest in technology that allows you to find cavities earlier, to help them save money. You provide same day dentistry to save them time and money. There are literally dozens of ways to talk about price with the consumer, without being perceived as the bargain basement dentist, and in turn, turning off exactly the market segment you are going after - the top half.

Don't avoid talking about price. Just talk about price positively without coming across as the low cost provider in your market.

The next thing you do in your advertising to mitigate the importance of price, is to talk about the benefits of the dentistry you provide! Refocus the consumer. They simply do not know what you do. They really do think the dentistry performed today, is the same as the dentistry done 30 years ago. Fill the value void. If you fill the value void, the importance of price is replaced with the importance of the services, conveniences, and technologies you provide.

 

Why does everyone ask about price or insurance during their first phone call to your office?

The bottom half of the market is asking about price or insurance because that's all they really care about. Your chances of flipping them into a good quality new patient are slim. Many frogs, and the occasional prince.

The top half is asking you about price or their insurance coverage because that's all they know to ask. They don't know anything about the dentist, services, technology, or conveniences your practice offers - they ask about the only thing they know. A properly trained staff person answering that phone call will immediately begin talking up the dentist, the quality of the services, the technology, and the conveniences your practice offers.

Your advertising primes the pump. If your advertising is filling the value void (talking about reasons to choose you other than price), and your staff is also talking about the value of seeing you - you will attract more than your fair share of the top half of the dental market. When that happens, you begin moving toward your objective.

Let everyone else compete to be the cheapest dentist

There are 75,000,000 females in the US who are not going to choose the overt, lowest cost provider anyway (the top half of the market). It's funny, the more overt and cheaper the advertising appears, the more the top half of the market moves away from those dentists.

Mitigate their initial concern about price and their ignorance about the benefits of today's dentistry by proactively talking about how your practice helps them afford and save money. Then fill the value void with the benefits of choosing you as their dentist.

Watch what happens.

Next month we talk about the barrier of convenience. Too many of you "think" you are a convenient dental practice to choose. The barrier of convenience is typically a fairly easy one to mitigate. So, pay attention next month.

If any of you need us, just call 866.336.8237. We will be here for you.

Got questions? Want to learn more?   

You can reach Mark & Howie at:

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Mark: markd@newpatientsinc.com

Check out our latest dental marketing book

Dental Marketing - 14 How Can I Compete in a Very Saturated Dental Market?

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Dental Marketing - 12 Do I Have to Be an NPI Client to Get Results?

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Why 2013 May Be a Big Rebound Year - Get Ready

According to the ADA's website, dentistry as a whole has shed 18% since March of 2008. Many of you haven't seen that drop. But for every dentist that hasn't seen that kind of a drop, another dentist has experienced a greater than 18% drop in the past 4 years. It's just simple math.

NPI has been doing this a long time. And, you probably already know that we have statistical analysis on most things related to consumers and dental revenues. With every recession in history, there is a rebound. As we've written numerous times in almost every major trade journal in dentistry these past four years - this particular recession is interesting and unique when compared to others in the past 25 years.

This recession, or the reason why it is hanging on so long, is being prolonged (primarily) by the lack of consumer borrowing power. Remember 2002 through 2007 when everyone in the country racked up credit card debt and paid it off with home equity? Well, that home equity vanished in 08. That's where the majority of your elective dental procedures went. Poof!

There are five main general reasons why 2013 could be a big rebound year for dentistry.     They are as follows.

1.    Presidential election: Every presidential election cycle causes consumers to hold off spending. Usually from June through December of an election year. This is nothing new. This is not tied to the overall recession. But it is a fact. Consumer spending will slow down until a decision is made the first week of November 2012. Regardless of who wins the election, once the election is over, there will be an economic rebound from pent up demand.

2.    Who wins the election will make a difference: This is not a political blog. We are not taking sides. We are not debating ideological points or economic principle. If one side wins this election, there will be a slight bump in dentistry in the first quarter of 2013 from the pent up demand created by the election cycle itself, then things will flatten out. If the other side wins this election, there will be slow steady uninterrupted growth for dentistry throughout the year.

3.    Housing Prices are stabilizing: Consumers haven't stopped wanting to spend. They just stopped being able to run their credit up to historic levels. Look around you. Look at the housing numbers around the country. For the majority of the country, housing prices have stabilized. It may be another few months before prices start to tick up, but for most of the country - the floor has been found. This bodes well for future consumer spending.

4.    Interest rates are still historically low: This will further clear out the housing market and balance the supply and demand. This also allows more people to fund more elective treatment within the window of months just ahead of us.

5.    What happens to teeth and gums that are ignored for five years? Do you see the balloon of emergency treatment, extractions, implants, perio, sedation, and dentures coming?  Oh, it's coming!

What should you do?

If you are already promoting to the right segment of the dental market surrounding your practice and you have been consistent with it through this recession - you are WAY ahead. ALL those consumers who know about you through your promotion, but have yet to call - will call in greater numbers and greater quality!

If you went through the recession with little/no promotion or inconsistent promotion, establish your momentum now!

If you are not sure what to do, you can call us to chat, you can complete an online survey and have us build a marketing plan, you can read our latest book, or you can take our online CE.

All of you, to some degree, have been challenged by this recession. It's time to set up for the rebound.

Got questions? Want to learn more? 

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Howie: whh@newpatientsinc.com

Mark: markd@newpatientsinc.com

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Social Media Marketing Trends for 2012

21 Social Media Trends to watch out for in 2012.

1. Social media marketing disappears

Social media is going to be integral part of everything we do when promoting our business. This will make social media an integral part of marketing and it will not be a separate activity. Much like SEO or email marketing, social media will be just one tool in the box.

2. Integrating social media to corporate websites

Brands start large scale integration of social media content into their digital properties. Big brands will use social media connect and user generated content to get closer to customers. This will help them get most out of true fans and brand advocates by linking their web properties to conversations.

3. More support through social media

The integration of social media will lead to people reporting their problems in their channel of choice. Social media integration lets some of those problems be handled by the peers. However, companies should find ways to avoid their social media channels becoming a glorified helpdesk.

4. Social CRM will make inroads in larger organizations

Social data will be added to the CRM systems to find trends in sentiment and indivitual preferences of customers. The goal is to engage the customer in a conversation and give value that binds them tighter to the brand. As brands lose control of online interaction social CRM will help them react and predict how conversations are taking place. Findings from IBM showed that in the next three to five years, 81% plan to focus on customer analytics and customer relationship management (CRM) solutions.

5. Social media will influence more sales

Social media integration will allow customers to get real user opinions before making purchase decisions. Social commerce is not web shop on Facebook. It’s a digital property where people can make their decision based on marketing materials from the brand and augmented with feedback from existing customers in a form of ratings, reviews and comments.

6. Social commerce on mobile devices

We will lead into a new era in eCommerce where you can directly purchase from your Facebook account. With proliferation of mobile platforms social commerce will become popular on mobile devices. Facebook’s Open Graph will also let you directly purchase with Facebook credits based on recommendations by your friends.

7. Social media budgets will grow

Most companies will increase their social media budgets. This includes in-house spending on and outsourced services. Part of the investments go to boost their own social presence through blogs and product reviews. Rest goes to external sites like Facebook.

8. Social media advertising will grow

Social media channels are looking to turn a profit so they are looking for ways to get at your advertising budget. Facebook, LinkedIn, Twitter and others are looking into way to display more marketing messages to their users. This will increase budgets dedicated to social media advertising.

Social media advertising will grow to $5 Billion in 2012, 25% of that vill be locally targeted social advertising.

9. Social media ROI is a must

More result oriented. Still less than half of the marketers measure results from social media. Social media ROI is a hot topic but less than half of the marketers report seeing it. We see that the budgets will grow and social gets more important in the brand’s marketing mix. This means that C-level will demand results. Dollars in sales. It can be as easy as direct sales from Facebook or a bit more vague as in conversion rate of people from social channels is higher than average.

In the course of our conversations with CMOs worldwide, an overwhelming consensus emerged. The vast majority of CMOs believe there are three key areas for improvement. They must understand and deliver value to empowered customers; create lasting relationships with those customers; and measure marketing’s contribution to the business in relevant, quantifiable terms.

10. Rise of the branded content

Next to advertising there will be a push be in the user’s stream. This means brands need to create content that is good enough to be curated and shared. Content has longer shelf life, can be reused in different channels, has higher perceived value for customers. This means that content creation budgets may in many cases exceed the social advertising budgets. It wouldn’t be surprising if some brands will kill advertising in favor of content creation.

11. Content Curation and Discovery

Information explosion has created an attention deficit and people want to have a quick overview of what’s important and easily find what they need. Aggregation and content curation are going to be very important and brands start filtering information to give value to their customers.Brands will integrate curation into their IT or use third party services. News aggregation apps like Flipboard and magazine apps will find a market in corporate circles.

12. Tabletizing and mobilizing websites

Not exactly a social media thing but businesses start to make their sites mobile. Like 10 years ago companies made websites because everybody else did, now they will make their sites mobile because everybody else does. People will use more social networks’ messaging instead of regular email and IM.

13. Social gaming will grow and spill over to real world

Social Media Games have more players than prime time TV shows have viewers. In-game ads and branded game items will become important promotional tools. As social media will become more mobile so will social gaming. This means that games that are hosted on social networks, such as Zynga and EA on Facebook, will be playable on mobile devices. These kinds of games will be played on-the-go – when you’re traveling by bus, sitting in a boring lecture, waiting for your lunch. Social gaming will be integrated with real life to physically perform tasks offline that have effect in the virtual world. Engage real friends, go to locations, flash mobs, etc. The potential growth of mobile social gaming will be huge.

14. Location! Location! Location!

Location based services will be everywhere. Local information, reviews, coupons, loyalty programs and more. All tied in with your social graph. We are moving towards an era of real-time need for information. More and more people will be checking for recommendations about nearby restaurants, bars, hotels, etc. Location based services will be part of many marketing campaigns. Near-field communication chips in mobile devices get more common and will pave the way to the new era of “tap & pay” commerce. Loyalty programs will start moving towards NFC and location based solutions. NFC will be a convenient way for you to connect, share and react.

15. Most social media usage will be on mobile devices

Social media is happening in real time and people share content when it’s happening! As smartphone penetrations reaches majority and tablets become increasingly popular, sharing content will move towards mobile devices. Smartphones gives us extra depth into personalization – we can share what we want, when we want. The limits are fading! You will always be connected with social media, no matter where you are!

16. Group buying sites will add location based services

Let’s face it, it is a brain dead model. Grow a huge list by offering really cheap deals and then sell that list to businesses to get really cheap deals. Group buying will not go away but businesses will understand better what it is and use it accordingly. To spell it out: businesses buy an opportunity to let potential customers sample their offering at a hugely discounted rate in hopes of repeat business. New layer of value can be added by integrating with location based services that will alert users to deals when they are in the neighborhood.

17. Interacting with live TV in social media

Live TV shows will react to user interactions such as votes, suggestions, etc. We have the ability to change what’s happening by providing real-time feedback on social networks. TV is going to be everywhere through mobile apps.

18. News will be social

News websites will gradually be replaced by applications integrated with social media technology such as Facebook’s Open Graph. While this won’t happen instantly, we’re going down that road as we speak. People will be reading news from their dedicated applications such as iPad’s Flipboard or Washington Post Social Reader. We will take in a lot of recommendations and read the same things that our friends are reading.

19. Mobile apps will become more social

All of the successful new mobile apps will be deeply integrated with social networks allowing you to share and engage more than ever before. We will be taking in a lot of suggestions and recommendations from our friends, colleagues and other trustworthy peers.

20. Your social media footprint will grow

Frictionless sharing capabilities and social gestures will make our lives increasingly visible on social networking sites. Music, TV shows, check-ins, purchases and more will be automatically posted to social media sites. Always connected, always sharing! If you don’t share, your friends will. Some may rise privacy concerns but most people will ignore the implications and their lives are going to be more open than ever before.

21. Facebook will break the 1 Billion people mark

Where does that more than 1 billion Facebook users come from? The countries with more than 20 million people and Facebook penetration below 20% will add most of this growth in 2012. Add the potential growth of other countries and you get to a cool billion or 1.1 billion even. And that does not include China.

Above article from:  Dreamgrow.com

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