[et_pb_column type=”4_4″][et_pb_text admin_label=”Text”]Strong, well-differentiated, and well-positioned practice “brands” sustain high profit margins, and have pricing power while seeing fewer patients each day. They also secure more patient loyalty and appreciation, grow faster, and ride through economic downturns with less trauma. In contrast, practices with undifferentiated brand images tend to have much lower profit margins, depend on practice promotions and come-on gimmicks, are insurance dependent, and require high patient volume to survive because many people leave “out the back door.”
We only have two choices: Position or be positioned, and this is because even if we have made no effort to position our practice within our community, we have still created a “brand” for our practice by default. Branding in this scenario comes through others making assumptions about you which are likely to be similar to experiences they have had with other dentists. If their previous dentist spent minimal time building truly helping relationships, they will likely assume that you will do the same. If their previous dentist was a family practitioner with little understanding of esthetic or restorative dentistry, they will likely assume the same of you as well.
In the general public’s eyes, all dentists are pretty much the same, unless you have made the effort to help them learn otherwise – and of course YOU ARE substantially, and meaningfully different.
Positioning your practice through strategic branding allows you to promote your strengths and unique selling points (USP’s). This in turn causes others to approach you who are interested in your best and finest services.
How do you know if your practice “brand” is moving you in the right direction? The answer is found in more than just your monthly production numbers and collection statistics.
You can begin by asking yourself these 5 questions:
Do many of my new patients reluctantly accept or not appreciate the value (to them) of a comprehensive exam?
Are you frustrated that you must aggressively “sell” restorative dentistry, in order to cause your patients to choose appropriate and predictable treatment?
Do your patients frequently break appointments and delay treatment plans because proper dentistry is simply not a priority in their life?
Do your practice collections lag behind because many of your patients begrudgingly pay their dental bills?
Do you spend too little time performing the kind of dentistry you really enjoy and feel is the most predictable and valuable to your patients?
If you honestly answered “Yes” to several of these questions, it’s likely that your brand may need either a “makeover” or significant refinement. And you may very well need to get about the business of repositioning your practice to be more attractive to the kinds of patients who value and are interested in your best and finest services.
In future articles, I will cover how to do just that.
Paul A. Henny, DDS
Thought Experiments LLC, ©2018
Read more at www.codiscovery.com[/et_pb_text][/et_pb_column]