Dental Practice Broker Articles
Unique Business Tips for your Dental Practice
Dentistry can be a tough business.
Many young dentists are entering the industry with tech and marketing experience. In the emerging market, simply having more experience than the next practice won’t necessarily cut it. Business acuity is now vital if you are going to compete with a Generation Y driven demographic. It is also important if you are looking to create a valuable asset and at some point sell your practice.
Here are some unique business tips to keep in mind for your Dental Practice.
Build an inviting waiting room. The waiting room is where most of the stress happens for clients. Remember that creating a relaxing customer experience is important to the patient, and is going to help ensure repeat business. Consider the colors, lighting, and seating arrangements of your waiting room. Make sure the room is well-lit but not too bright, the colors are inviting but subtle and the seats are comfortable and accessible. Also, make sure there is adequate reading material and that sound coming from the dentist office is minimal – you may want to consider playing some music.
Teach your patients with visual aids. Patients want to take care of their teeth and most of them want to know how things work. Don’t hesitate to use visual aids such as models or charts which can be much more memorable than dry explanations.
Identify your patient base. Knowing your segment of the market helps you in two ways. Firstly, it allows you to best target your customers when it comes to marketing and strategy. Secondly, it helps you in a competitive market by allowing you to take on a manageable and profitable niche.
Send cards to clients. Dentistry is a business based on customer services. Most people feel anxious going to a dental office and therefore the dentists who can develop the best relationship with clients and their families (particularly children), are more likely to get repeat business. Strengthen this relationship and build new ones by sending out postcards to clients during holiday times or after check-ups – the more personalized the better.
Hire employees based on chemistry. If you are hiring dental assistants, receptionists or anyone else for that matter, understand that a lot of skills can be trained, what you probably can’t teach however, is chemistry. It is the relationships between your staff and clients that will keep them coming back.
Leverage deal based websites like GroupOn. A lot of practices start by offering free check-ups for first time customers, but if you are already established and don’t have the time to offer free services, you can try and leverage GroupOn or other coupon related sites to promote your service in other ways. Many mobile users now look for deals in their area and if you are nearby they’ll at least be aware of your brand even if they don’t purchase the coupon.
Remember that dentistry isn’t just an art, it’s a business. Make sure you are constantly looking to improve your business skills and knowledge so when you are ready to sell your practice, you have a well-oiled machine that is worth the investment.
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