Winning In Business; Becoming a Patient Magnet, Jobs Depend On It!
Every business keeps it’s doors open because they attract a constant stream of new clients! Medical practices are no different; unless you become a patient magnet, you will eventually have to close your doors.
Recently, author Rhonda Abrams, wrote an exceptional piece for USA Today titled “Strategies: 10 rules for small business success.” Ms. Abrams is a long time business development consultant and strategist provides great insight with solid data that should pay serious dividends for all medical practice owners.
I have dealt with all different types of small businesses, and I’ve learned certain realities always apply. I call these “Rhonda’s Rules.” These rules are keys to small business success. Ignore these rules at your peril: I’ve seen many new entrepreneurs fail because they ignored one or more of these business basics in order to be a patient magnet.
Here are 10 of the most important “Rhonda’s Rules” for small business success:
1. Go small to grow big. What’s the one sure way to fail in small business? Try to sell to everyone. A key to small business success is carving out a niche — a particular specialty or narrow market segment — rather than competing for every customer. Don’t just be a marketing consultant: be a marketing consultant for a certain industry. Don’t be a general store — focus on a specific type of product or customer. Small businesses just don’t have the resources of time or money to be a generalist.
2. Take care of your bread-and-butter business. Entrepreneurs have lots of good ideas, but those can distract you from your core business. Before you consider new directions, clearly define what part of your business brings in the money that pays your bills. Concentrate on that first.
3. Clearly define your target market. Analyze the characteristics of your customers; the only way to become a patient magnet is to understand exactly who buys from you. Having a clear target market enables you to be much more effective and efficient in both your product development and marketing efforts.
This point is the single biggest tip the author provides. Far too many organizations are targeting “everyone” in their message; which unfortunately means, they’re focusing on no one. In order for a business to succeed, they can’t be all things to all people!
Direct Response advertising studies have shown us that up to 95% of all ads are written to target only 5% of the intended audience it hopes to convert to prospect status.
Therefore, the marketing message must be targeted for the “right audience.’ In order to gain the competitive advantage, you need to focus you attention on those members of your audience who have already used the services you provide! In other words, the people who believe in, swear by, and continually use and refer others to your services account for the largest source of annual receipts. Many major advertising studies indicate that this pool accounts for nearly 95% of all services sold annually.
As such, this group of prospects, that has used your service before, accounts for such depth, that it doesn’t make much sense to focus your advertising efforts in any place other than this rich pool in order to attract them.
Plus, if you’re going after your competitors’ clients, your chances for success increase for two important reasons:
First: You’re targeting only those prospects who have already purchased or are in the process of purchasing a service similar to yours. Second: Now, you reward (or incentivize) the competitions’ best clients with rewards for taking immediate action (by contacting you); only after showing you proof of their purchasing intent.
That simple understanding of whom you are targeting and what you are saying (your content) when you contact them gives you a competitive advantage!
In order to position your medical practice to gain a strategic advantage and become a patient magnet, it is important to grasp the reality that anyone, and everyone, who has already bought the services, similar to the ones you offer, makes up the deepest pool of potential new patients for you!
Brought to you from the desk of Steve Cox, co-founder of StevenVonLoren Marketing Strategists, Direct: 916.750.6319, Personal email: StevenVonLoren@gmail.com, Amazon Author Profile, Facebook, Google+, LinkedIn, Twitter