When it comes to running a successful dental practice, the best dental student is not always the best businessman. In fact, when it comes to running a successful dental practice, “winning” in this arena requires expertise in attraction, conversion, and monetization. Your ability to both apply the best tactics within each of these three principles and innovate new ways to attract, convert, and monetize will determine your success.
Attract: The First Principle of Running a Successful Practice
Whether you offer the best dentistry in the world or not, your business is nothing without clients. If you don’t have customers that need your product and are willing to spend money, your practice will sink.
So, how do practices today attract customers? Promotions, advertising, public relations programs, incentives, referrals, call centers, sales forces, search engine optimization, direct mail, social media, and events or programs… to name just a few. Your job (or the job of your staff or dental coach) is to research how other successful dental practices have used these techniques and others to attract the right clients to their front door. Not only that, but the success of your practice also relies on your ability to innovate new ways of attracting clients.
Where do you start? At Platinum Recall, we strengthen a practice’s ability to attract new customers through our live call answering service , which assures that no new lead falls through the cracks. Additionally, we offer Monthly Reports that help you identify the best marketing channels for your practice and where you can improve the patient experience.
Suggested Reading: Marketing a Dental Practice
Convert: Creating a Clientele
Conversion is the process of moving a potential customer from casual observer to client. Conversion takes place on many venues: your website, displays in your office, sales calls, or professional consultation.
Something you need to understand is that the conversion process for dentistry is different depending on the business model you operate. For most practices operating under a traditional model, conversion takes place over the phone or in the office. However, creativity can replace conventionality with new approaches to this business basic. Web-based sales, phone or email lists, referrals, online reviews, testimonials, and other relatively “new” conversion techniques have proven extremely effective in the dental industry since their application.
Be creative! And don’t forget that if you don’t have time to dedicate to developing your own best conversion process, that’s what a dental consultant or coach is for.
Suggested Reading: The Importance of Online Reviews for Your Dental Practice
You monetize a client or patient when you increase the value provided by that client. This is done in several ways. Examples of this found in dentistry include offices who invite their patients to set appointments for their spouse or children, those who use Groupon deals to encourage patients to buy more of a product or service, include deals for whitening or “bundle” deals, or offer a second product or service at a discount, and many others. A famous example of monetization is McDonald’s invitation to “super size” their products, increasing the value of each client that accepts.
At Platinum Recall, an important way we help you monetize your patients is through patient recall . Calling is the best way to reactivate overdue patients, and using our practice management software we engage patients who you may not have seen in up to 5 years!
Monetization within dentistry is different than in any other industry. This is because “upselling” a patient rarely involves enticing the person to buy more of anything, rather inviting them to commit to the more expensive yet more aesthetic, durable, or beneficial solution over others. Most people would choose to have their tooth pulled over anything else if it weren’t for the dentists who know how to teach the benefits of an implant, bridge, root canal, etc. Because “upselling” within dentistry requires the ability to educate, inspire trust, and motivate patients, learning to sell dentistry is one of the most important ways to run a successful practice. In simple terms, improve your chair side communication and watch your profits soar.
Platinum Recall: The Best Way to Attract, Convert, and Monetize
Attracting, converting, and monetizing the right clientele is the bread and butter of a successful business strategy. At Platinum Recall, our services help you do all three! Please call us today at 800.900.2012 to schedule your free consultation and demo. See your profits soar this year.