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Why Market Research Is Key to A Successful Dental Practice

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Why Market Research Is Key to A Successful Dental Practice

At all stages of your dental practice, it’s essential to have a clearly defined marketing plan in place to guide your business decisions objectively through true, current, real-time, factual data. But before you can devise your plan, you must of course have a good sense of the community you’re going to serve.

Identify Your Ideal Patients

You must partner with a dental marketing company that can help you assess who your ideal patients are, where they live, and how to target your marketing and telephone skills so that you can capture them and appoint them. Their analysis will be granular and offer you more marketing ideas for dental practices than you could ever discover on your own through subjective gut feeling. Data points should include reports on:

  • Market area diagnostics – increase your marketing ROI and know where your best patients are coming from
  • Market share analysis – identify areas with the best opportunities
  • Competitor analysis – maximize your marketing dollars
  • Digital presence analysis – get a free web audit
  • Call recording, tracking, and scoring – monitor and enhance call handling and more!

Establish Your Unique Value Proposition

What sets you apart from your competitors? To quote Sun Tzu’s The Art Of War, “Know your enemy and know yourself.”

By researching dental practices in your area, you’ll understand the level of service you’re up against and what is readily available to prospective patients. How do you set yourself and your practice apart?

For example, do any of your competitors…

  • Stay open in the evenings?  
  • Offer free consultations or 2nd opinions?  
  • Provide new patients with their first appointment within 48 hours?

The list goes on and on. And if you can offer the same (in most things), plus more, new, different, unique… you’ll set yourself apart.

Continual Evolution

Whether you’re opening up shop, purchasing a new practice, are in a growth phase, or are continually in a holding pattern (which actually means decline), you need a vigorous, effective marketing plan to increase your high-quality new patients who will increase your production, which will increase your bottom line.

Patient News is a dental marketing agency ready to go the extra mile and give you a holistic view of the market you’re hoping to be a part of that will help you own your neighborhood and make business decisions with practice intelligence. We’re here to help you STAND OUT and Grow! Call today.