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Patient Attraction Episode 1144
The quickest way to get to the top of your market is to push hard when things are going well. Right now, the United States is enjoying a huge growth cycle. Dentists who want to dominate that market will seize the opportunity to grow their practices. But not all growth strategies are created equal. When we come back, I’ll tell you about the proven way to overcome the challenges that dentists still face even during the boom times. Stay tuned.
– Thanks for watching the Patient Attraction Podcast™.
– I’m Colin Receveur, founder and CEO of SmartBox.
– Right now, the U.S. economy looks pretty much unstoppable.
– We’re in an 8-year growth cycle that shows no signs of slowing down.
– Growth cycles typically last about 5 years, so this one looks very strong.
– With growth comes both challenge and opportunity for businesses, and that applies to dental practices as well.
– The challenges dentists face have been building for some years.
– Those are the rise of corporate dentistry, record numbers of new dental school graduates, and declining insurance reimbursements.
– It might surprise you to learn that those challenges also present great opportunity.
– That’s because the vast majority of those competitors will focus on offering dental services at low price points.
– They’ll all be focused on the same market segment – people with limited discretionary income.
– That’s about 70 percent of any given market.
– But the other 30 percent is where growth-oriented dental practices will focus their marketing efforts.
– That segment consists of prospects with the ability and willingness to pay more for the right dentist.
– Those prospects don’t care much about what insurance will cover.
– They do care about finding a dentist they like and trust, one they regard as the expert to solve their dental problems.
– If you’re that dentist, you’ll make more money while working less.
– Better prospects are predisposed to accept your case solutions so you won’t need to do very much selling.
– And your practice will grow in a healthy way because these better prospects are very loyal once they’ve chosen a dentist.
– When you’re in a commanding position among this segment of your market, you have the dental high ground.
– That’s ground you can grow on, even during the contraction that will inevitably follow this growth cycle.
– But to claim that high ground, you’ll need to take a different approach to marketing your practice.
– Dr. Dick Davenport decided to embrace that different approach, and here’s what he found.
– “Before we went live with SmartBox, we had 1 practice location, and at that time, we were getting about 20 new patient opportunities a month.
– “Now, 11 months later, we have 2 practice locations and we’re averaging about 70 to 75 new patient opportunities a month.
– “It’s been a big increase for us, and it’s all due to the targeted marketing that SmartBox has done for us.
– “SmartBox has worked very well with us, and very hard for us, to target the type of patients that we need to each of our locations.”
– Dr. Davenport’s practice is positioned to thrive, and our industry-leading Patient Attraction System™ can help your dental practice get there, too.
– Visit smartboxdental.com and click on the “Get Started” button to reserve your free, no-obligation Practice Discovery Session™.
– Invest 25 minutes of your time to discover how you can get more patients, more profits, and more freedom.
– You can join the 550 dentists on 3 continents who enjoy the benefits of working with SmartBox.
– Trust me, you’ll enjoy the view when you occupy the high ground in your market.
– Join me for our next podcast.
– Until then, keep moving forward.