Business success is an ongoing endeavor to triumph. Robust marketing strategies equal market dominance. In the process, you legally steal your competitor’s best patients!
The idea of stealing may seem rather provocative as business development strategy plans go. Rest assured; we are not speaking about doing anything that is improper or felonious! However, if you want more patients, read on and learn why it makes sense to legally steal your biggest competitor’s best patients.
For the record, we’re discussing something that occurs on any given day, in any number of businesses throughout the country. Every day, at least one company is trying to get more clients/patients. That means they are calling, emailing, sending 4-color brochures, or knocking on the door of new prospects.
Question: Where do you think these clients come from?
They either come to your competitors, or you try to convince people who have never used your service before to say “yes!” Additionally, those patients who have never used your service before, they only account for 5% of the available market.
An astute business development strategy focuses on the 95% of proven believers in your medical services. Incidentally, those patients are available from you and every other practice owners in town (generally within a 15-mile radius). Hence, legally steal your biggest competitor’s best patients.
Actually, being able to woo your competitors’ best patients away is only a few steps away. So let’s begin…
Securing Your Competitor’s Best Patients and Prospects –
This is something a clinic owner can learn and easily implement. At its base, it comes down to advertising, something successful entrepreneurs are doing anyway.
However, if you’re going after your competitors’ patients, your chances for successful increase for two reasons: You’re targeting only those prospects who have already purchased. Maybe they’re in the process of purchasing services similar to yours. Your promotional effort need to focus on these key elements. Now, you reward the competitions’ best patients for taking immediate action while showing you proof of their purchasing intent.
The simple understanding of whom you are targeting gives you a significant competitive advantage.
In order to position your practice to gain a strategic advantage, it is important to grasp the reality that anyone, and everyone, who has already bought the services similar to the ones you offer, which makes up the deepest pool of potential new highly profitable patients for you.
The Common Sense approach to Dominating your Market –
We can thank our biggest competitors for several things. They paid heavily to attract our perfect patients. These patients already believe, trust, and have paid for services similar to yours.
Think of how much money it costs to acquire a brand new patient with advertising expenses, overhead, employees, etc. These costs can be astronomical.
Your biggest competitors have gone through all the trouble, time, effort, and money to find qualified people, get them to raise their hand and actually make a purchasing decision. Your competitors have saved you a fortune both in time and money.
Emotional Purchases –
How and Why they are made by the Prospects you want
What logical steps do your best prospects go through before they even consider a cosmetic procedure (for example)? These prospects will begin their emotional purchases in the following ways: They will start to collect brochures, compare doctor’s credentials, facilities, patient testimonials, price, etc. They will view websites and read testimonials — anything that will help the prospect facilitate their decision.
Your main goal, on a consistent basis, is to get the full attention and attraction of those prospects that have proven they are preparing to make that purchase. Begin featuring patient centric, procedure specific testimonial videos on your website, your blogs, newsletters, and so on.
Make sure their [the patients’] emotional buying process always leads back to you.
Never forget that every time they make an emotional step: i.e., collect brochures, sales material, quotes, or consultations, they’re a little bit closer to a sale. And you never want to ignore these people, they are ones that represent 95% of your most profitable patients.
The people who already believe in the benefits of plastic surgery have already identified themselves. There is no need to waste valuable time and money trying to convince people who aren’t interested in what you’re selling.
Consider providing these patients with special reports. Remember, your goal is to create distance between you and the competition. Try something like this: “10 most popular cosmetic procedures, and the precautions to take to avoid disastrous results.” Or, “Best remedies to get rid of stretch marks after pregnancy.” Maybe something like this, “7 tips to help overcome dental fears.”
These prospects have already made the emotional decision to begin the buying process. You’re simply rewarding them for their decision to take action by offering incentives for allowing you to solve their problems.
Rewarding Emotional Purchasing Decisions –
The psychology behind this strategy is to grab the full attention of these prospects immediately. Then, you want to make them feel that they are very wise for having made a decision to have a dental implant procedure (yet another example).
They should be congratulated for having taken some action trying to solve their problem. Let these prospects know that you understand their dilemma and that you’re willing to help them.
You must offer these prospects a reward incentive. Let the prospects know that all they have to do to qualify for your reward is to show some proof that they actually made an emotional purchase. It could be that they bring in one of your competitors’ brochures, business cards, pricing quotation, computer imaging – whatever they received from your competitor will work. This is extremely important.
By having the prospects show proof of their emotional purchase, they are qualifying themselves for your services. Your incentive can be whatever you believe has a high perceived value to these prospects. It could be a certain dollar amount available as an instant credit with your office good toward their choice of any procedure you perform.
Reward Prospects for Taking Action –
Again, you’re targeting only those prospects that already purchased or are in the process of purchasing a service similar to yours.
You’re rewarding your competitors’ best prospects for taking immediate action while showing you proof of his or her purchasing intent.
Please remember that you’re initial rebate or special incentive you’re offering is only a one-time acquisition cost to your practice. The lifetime value of acquiring this new patient could easily be worth thousands of dollars or more to your practice.
There is so much more value in those patients who have done business with your competitor! They’re just waiting for a reason to change loyalties. It is certainly better than investing your hopes and marketing budget on the small stream of future prospects that have never purchased services similar to yours.
You must start rethinking your marketing campaign strategy, or at least a portion of it, in order to specifically target and appeal to people in the process of making the decision, or who may even have your competitors’ information on their desk. This should be the focus of your strategy; this is the prospective patient you want to find.
This strategy is immensely valuable especially when you consider a patient’s lifetime value.
This strategy has been around for millennia. You too can benefit from the connections that other people have painstakingly made and are willing to pass on.
To conclude, we understand that learning and applying these techniques for business growth takes time. Your practice may not be setup to do something immediately. For this reason, we want to help you; further, we are offering a free comprehensive analysis of your current patient development game-plan. Click here To get your free, thorough review.
We invite you to learn how Steve and Claudio can help you immediately increase your profits, give them a call at 1-530-268-2448.