Is Business Slowing Down? It's Not Your Fault...

Is Business Slowing Down? It's Not Your Fault...

Have you noticed in the last few years that there seems to be more competition than there used to be? If you've noticed this, you're not alone. The reality of the situation is that there are more and more dentists each year, all looking to grow their dental practice, all looking for the same patients. In fact, the American Dental Association estimates that in the 2020s, there will be 16% more than there are today. That means that you have a limited window of opportunity to accelerate growth, and plant the seeds for a successful future today. As you know, the time to do something about business slowing down is now - not months or years later. The longer you wait to turn the ship around, the longer and more expensive it it will be. On average, most thriving dental practices need about twenty new patients per month to "tread water" and thirty to sixty to have a growing business, depending on how many associate doctors, hygienists and administrative support staff you have. If you're not getting at least 10 new patients a month, it's only a matter of time before things dwindle to a standstill. Here is what dentists across the United States have been telling us - see if any of these situations sound familiar to you.

"I know there are lot of young patients out there, but I'm not connecting with them"

One of the ways to build a thriving dental practice is to onboard new patients in their early 20s, and give them the best experience possible. Those "youngsters" that you see today will grow up, get jobs with great benefits, likely get married, have children of their own...all of who need a good dentist. When growing your practice, you have to think long term, and realize that every mouth you work on is future business and referrals. For those of us who did not grow up with a computer screen or cell phone glued to our eyes, it's a challenge to understand how the younger generation can be reached, what's important to them, and most importantly - how to connect with them. The good news is that we know this demographic very, very well - and are able to promote your practice to this younger crowd.

"I have a good base of patients, but they are aging - and revenue is declining"

If you've had your practice for a few decades, this might be you. If you started your practice in the early 1990s, this is something we commonly hear. Those people who you saw early on for cleanings and filling are now twenty to thirty years older, and have different needs. It's quite possible that many of them are now seeing you in a maintenance capacity, which means you're working just as hard, just as long, for less money. Those patients that you're already seeing, who know and trust your practice - just might be the key to opening up new revenue streams for you. Ask us how.

"I feel like I'm getting boxed in by the corporate chains"

Especially in the last ten years, this is something that has become more and more common. The big corporate chains are offering new dental school graduates the "golden handcuffs" of coming to work in a chain or corporate owned practice. The enticement is real - those doctors don't have to worry about overhead, staff, insurance, dental marketing, lab supplies or payroll. Are you finding it difficult to compete with those corporate practices? The good news here is that those practices don't have the personal touch that you can offer - and are based on volume, not dedicated, personal interaction. Increasingly, dental patients are looking for alternatives to the "big box store" approach, and this is where your practice can really stand out from the crowd. In addition to your personal touch, while these large chain operations might appear daunting to go up against, we do have dental marketing strategy that can compete against the chains and get new patients into your practice.

"My marketing isn't working like it used to" or "I hired a local company, but I'm not seeing the results I expected"

Even compared to five years ago, dental marketing has undergone a radical shift. As a dentist, you likely find yourself doing much more than being doctor - you've come to realize that having a solid marketing plan that brings new patients into the practice is key to your growth. The challenge of doing this on your own can be overwhelming. What about Google updates? Should I run pay per click ads? Are Facebook ads worth putting money into? What's the relationship between Instagram and cosmetic dental? Why are younger patients asking me about my LinkedIn profile (or lack thereof!)? Everyone is so busy these days - how do I get patients to show up for their appointments on time? What are my options and what works when I ask for reviews? These questions are just scratching the surface of what solid marketing should, and must encompass for your practice. Let us take care of your dental marketing - you take care of your patients.

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