Do You Know What Your Dental Patient Market Hold Is?
Marketing your dental practice to increase market share
By Joanne Bishop | November 10, 2017
Knowing who your best patients are and where they live is the foundation for every practice marketing initiative, but conducting a true and deep market share analysis requires significant investment. The good news? Patient News provides you with the most advanced market analytics and demographic research tools available in the dental industry. We’ve invested in these tools and technologies to ensure our clients don’t waste time or money marketing their dental practice to households not aligned with practice services and goals.
We help you zero in on your hottest areas.
If you’re in a situation where you would like to increase your share of your marketplace, a complete analysis of your patients, your competitors, area households, demographics, and buying preferences is essential.
Avoid wasting marketing dollars.
By knowing where your existing market share is the most concentrated, and where your opportunities are the highest, predictive analytical tools can precisely identify which neighborhoods you must outright “own” and which homes are primed for further expansion – as well as niche opportunities and areas to let go forever.
Why fight for market share when you won't get it?
Knowing the competition has multiple important impacts. You can determine if any other dentists are eating into your current market share. You can identify whether any barriers to entry are being created, whether you want to fight for that market, and most importantly, you can identify the competitive advantages you offer in comparison to other area practices so that your team is armed to overcome any competitive objections prospective patients may present.
For increased success it’s important that providers of infrequently purchased products – such as dentistry – have the highest level of competitive market share possible.
Understanding of market share is a key to profitability.
According to Harvard Business Review, the understanding of market share is a key to profitability. It’s not rocket science to imagine that the higher your market share, the higher your profits. The more consumers choose your practice, the more awareness you will have, and the easier it will be to attract and onboard a higher rate of new patients. Understanding your existing market share will allow you to market your dental practice to target and attract more great patients.
Want to know your market share and what proportion of the market is ever likely to select your services?
We’re happy to provide a complimentary market analysis for every dental practice. It’s unbelievable how impactful this analysis can be when marketing your dental practice. Call today to request your FREE Area Analysis.
Don’t hesitate! You have nothing to lose and an incredible amount of market intelligence to gain.