Grow Your Professional Practice in a Lagging Economy
Many professionals suffer during an economic downturn, and today’s lagging economy is likely hurting practices of all kinds. Regardless of the economic state, it is important to be well regarded by prospective clients or patients. This doesn’t mean spending tens of thousands of dollars. A small investment in marketing can grow your practice, even in a sluggish economy.
Top of mind when it counts
By continuing—or even increasing—your marketing budget during this slow recovery, you stand to gain by being top-of-mind with patients or clients. Also, while your competitors may be cutting their marketing expenses during the downturn, by staying the course or increasing yours, you will benefit exponentially. With fewer competitors spending on marketing and advertising, your visibility will go further. And this will go a very long way to shape perception.
Special offers
Many professionals tend to be uncomfortable with the “sales” side of their business. However, consider the times in which we live. Free consultations or treatment discounts offered on your Web site or in newsletters, mailings and advertisements will attract those who may not otherwise come to your practice. By marketing now, you will position your practice to be the one they choose, whether it be today, tomorrow or six months from now.
Referral marketing
Referral marketing is always important, but it is even more critical during tough economic times. When revenue is lean, professionals turn to the people they trust. Dentists need to protect patient relationships and trust implicitly the dental specialists to whom they refer their patients. Similarly, accountants, bank officers, insurance agents and real estate brokers rely on trusted attorneys for legal services. This means you will need to market your practice to referral sources to remain on their short list. You will also need to take excellent care of those referred patients or clients.
For you to build a successful professional practice, patients and clients must have a great impression of you when it is time to decide on treatments or services. This means that you must fuel your marketing engine now. Do this and you will shape mindshare today and influence the buying decisions made tomorrow.
A marketing tool as simple as a quarterly newsletter can be an ideal way to keep your name in front of referral sources, in good economic times as well as bad.
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