Dental Marketing Boosts Practice Value
What’s the future asset value of your practice?
By Joanne Bishop | December 1, 2017
Do you sometimes think, “Let’s just do what we can today and worry about tomorrow when it comes”?
With the focus on the immediate need – your 2018 dental marketing strategies – have you lost sight of the bigger picture?
Where do you want your practice to be in three years? In five years? What lifestyle do YOU want in the next several years? If you’re in your mid-late 50s, now is the time to think about 2018 as the transition year.
Which short-term decisions will move you closer to your long-term goals?
- Boost investment in new-patient growth
- Revitalize and energize your team with training
- Reconnect with patients in a meaningful way.
The scary thing in our industry is that a majority of dental practices are in a plateaued state. Without additional marketing investment or focus on improvements to new-patient call conversion, patient experience, and referrals, practice revenues can continue to plateau or even decline. As your competitors start to recognize that their production is plateaued or lagging, more and more will start (and may have already started) to aggressively market to your neighborhood. Not only will this put more pressure on your practice because they will be capturing prospective patients, but because these competitors will also begin stealing some of your quality patients as your patients become more aware of their choices.
Just this week at our weekly huddle we re-read a blog that Wayne posted in October last year. The message remains very relevant to 2018 strategic planning.
You, as business owners, control your practice.
It was “Dental Marketing and Practice Value.” Wayne tells the story about talking to a buddy about future asset value. You, as business owners, control your practice. You choose the employees, labs, supplies, vendors, etc. You have the opportunity to hire other dentists to increase practice revenues.
You control your marketing and your practice’s ability to grow.
As a dental marketing agency of record, we are here to help you make the best business decisions for practice growth. We want to contribute to your future. We can make your practice stand out and secure your practice future. In 2018 and beyond. Start now – call for an updated 2018 strategic marketing session and free market area analysis.