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Building a successful dental practice is a long-term prospect. Marketing that practice is an essential element in the quest for new patients. But the marketing that works when the economy is good won’t necessarily work when things get tough.
We saw the last example of that during the Great Recession of 2008-2010. Dentists’ incomes took a hit. Retirement plans were put on hold. Sales of dental practices slumped. Collections were down overall. And all of these downturns occurred despite the fact that dentists kept on advertising.
The problem was that people who had been laid off due to the economic contraction didn’t have the money for dental care. They were busy trying to pay the bills, feed their families, put gas in the car, and meet the other mundane responsibilities of everyday life. Dental care was reduced to an emergency basis for many families, rather than a program of regular cleanings and exams. And when care was needed, it was often the lowest-cost provider who got the nod.
Elective dentistry was simply off the table for tens of millions of Americans. That boat was pretty well sunk for many dentists.
However, An Ebbing Tide Doesn’t Sink All Boats
Not everyone was equally affected by the Great Recession. There were many individuals and families who might have tightened their belts a notch or two, but otherwise kept on living just as they had before things went south.
These fortunate individuals make up the “better” patients in any given market. They’re not better patients because they’re more deserving of care. They’re better for your practice because they have the ability and willingness to pay more for the right dentist. Even when times are tough.
The recent market correction was a reminder of just how fast economic conditions can change. Those better patients will make your practice successful during the good times, and more than keep it afloat during the bad times.
You won’t attract better patients, however, by advertising insurance acceptance, low prices, and specials. That segment of your market is motivated by different considerations.
Attracting The Patients You Want
The prospects you need to ensure your success are motivated by intangibles. They’re looking for the right dentist – someone who they regard as likeable, relatable, trustworthy, and expert. They’re looking for a superior, if not outstanding, experience with your dental practice.
You can be that dentist for them. One they’ve chosen you, better patients are likely to remain fiercely loyal to your practice. And it’s a no-brainer that the lifetime value of one patient far outweighs the one-off dental crown, cleaning and exam, or drill-and-fill.
Not only that, but with a significant number of highly committed patients, you’ll need to spend less to keep your chairs filled.
In essence, that what SmartBox does. We provide a steady stream of more and better patients so that our doctors can focus on doing the dentistry, not on overseeing the marketing.
If you’re ready to shift your marketing focus to patients with higher lifetime value to your practice, click on the green “Get Started” button on the page. Schedule your free, no-obligation Practice Discovery Session™. After the 25-minute phone call, we’ll send you your free, personalized Patient Attraction Roadmap™.
When times are good, SmartBox will help you make the most of it. But when times are bad – and bad times are inevitable – SmartBox’s unique, industry-leading Patient Attraction System™ will help your practice stay in the black.