Picture this: An independent dental practice established for 30+ years in an affluent area has always relied on referrals and word of mouth to attract new patients. However, over the last decade or so, there’s been a noticeable decline in the number of new patients coming through the doors. At first, it wasn’t much of a concern. More recently, though, it has begun to impact the practice’s revenue. The dentist is hoping to retire in 5 to 10 years, but sustained negative growth is threatening their plans.
Here’s the kicker. This is not a hypothetical scenario but rather the reality for mature dental practices across the country. Can you guess what’s causing it, and do you think it’s possible to reverse the trend?
The Challenges of an Established Practice
I love meeting with dentists who have been in business for 20, 30, or 40 years because they’ve seen it all and have a lot of wisdom to share. In many cases, their practices have never relied on marketing to attract new patients because their existing patients are loyal and great at referring. However, I am finding that these veteran dentists are noticing fewer and fewer new patients every year, and they don’t know why.
The reason mature practices are seeing stagnant or negative growth lately is twofold:
- Intensified competition from more practices moving into their markets
- Zero or limited digital marketing
This is happening all over, especially in affluent suburban areas. New independent and corporate practices springing up on every corner, saturating the market and spending big bucks on marketing to attract new patients.
What’s a dental practice to do in the face of all this change? The answer is marketing! Yes, even a practice that has been in the same location for 30 years can benefit from a customized, long-term digital marketing strategy. And here’s why:
Everything Is Online!
Like it or not, the vast majority of people use the internet to find their healthcare providers, including their dentist. Patients do still call because they happened to drive by and saw the marquis or got the practice’s name from a friend. However, that number has been in steady decline for years, and even those patients are likely to look the practice up online before making the call.
It’s becoming increasingly unusual for someone to schedule an appointment with a new dentist without first reading their online reviews and visiting the practice’s website. If the practice they’re interested in has not put a concerted effort into its digital marketing, the chances of that person becoming a new patient are low.
Even if a practice has never had to invest in digital marketing to attract new patients, I recommend they start doing so today. Digital marketing enhances word-of-mouth referrals and helps a practice reach new pools of potential patients who use the internet to make their buying decisions. A new, refreshed, or redesigned website plus a campaign to solicit online reviews from existing patients is a good initiation point that will boost new patient appointments over the long term. For practices that want more immediate results, we can add social media, monthly emails and blog posts, SEO, online ads, and PatientCapture Now to bring them fully into the digital age.
Patients Want Personalized Care
Corporate practices are aggressive when entering a market. They have huge marketing budgets and name recognition on their side. Plus, they contract with most major insurance providers. All of these “advantages” can be discouraging for independent practices competing with these giants. In my experience, however, the bigger they are, the easier it is to outshine them. A privately owned, fee-for-service dental practice may have a fraction of a national corporation’s marketing budget, but it has other, far more valuable attributes in abundance.
Like all retail chains, corporate dental practices rely on homogeneity and volume. Every office looks the same, feels the same, plays the same music, and offers the same services. Chain practices provide only basic services to maximize scheduling. Anything specialized gets referred out. The quality patients most independently owned dental practices are looking to attract don’t want that kind of cookie-cutter dental care. They seek a more refined and personalized experience and are willing to pay for it. That’s where an independent dental practice shines!
In a saturated market, uniqueness is key, and a practice with a strong online presence that includes online reviews, a modern website, and social media will stand out. By taking advantage of multiple digital marketing channels to emphasize the traits you won’t find in a corporate practice — such as personalized care, a family feel, spa-like amenities, advanced treatments, and specialty services like facial aesthetics, sleep apnea, and TMJ therapy — private dental practices can reach the patients who want more from their dentist.
It’s Not Too Late!
I’ve worked with dentists at every stage in their careers, and I can say from experience that digital marketing is equally important for everyone. Dentists nearing retirement who are either handing off their practice to a partner or looking to sell should seriously consider implementing a robust digital marketing strategy if they want to go out with a bang. Winding down doesn’t necessarily have to mean earning less. Instead, it can mean working fewer hours and concentrating on high-value cases. Plus, a practice is more attractive to a potential buyer when revenue is rising and the practice can show a track record of year-over-year growth. Digital marketing can make that happen.
