Editor's note: Richard Geller's column, Marketing Madness, appears regularly on the DrBicuspid.com advice and opinion page, Second Opinion.
Are you better off selling people something they need or selling them something they want?
Let's see.
Do people drive the smallest el cheapo cars they can get? I don't see that in my city. I see a lot of SUVs although the nearest muddy off-roads are miles away. Talk about "needing" an SUV?
Do people live in the smallest apartments they can get? Again, I don't see that. I see people living in large houses with one family member to a bedroom even though they could get away with a whole family living in one room, as billions in the world do.
Some of the most expensive purchases people make -- their cars, their homes -- are these the bare minimum they "need," or are they in fact much more than is needed?
Do you remember Maslow's hierarchy of needs from your undergrad days? According to Maslow, people need to do a few things: breathe, eat, drink, sleep, seek shelter. There isn't much money in those basics, but there is a lot of money in the "wants."
Based on this theory, the doctor who does a lot of veneers and cosmetic work will in general do much better financially than one who caters to emergency case patients who come in for a broken tooth, leave with the temporary, and are never seen again.
I'm being extreme of course. Nobody would ever do that. ;)
My point is that "discretionary dentistry = want" and "want = higher profits." Higher production, more enjoyable, more at the end of the month left over.
Am I saying, don't do restorative dentistry?
In 1990, I wrote the book on how to get high case acceptance for restorative dentistry, and it is now in its third edition. (I added cosmetic case presentation to the mix in the second edition.)
I am a huge believer in helping patients reach the right decision for their overall health. But here I am talking about how to get more discretionary dentistry ... and the secret is simple: Increase your flow of quality new patients.
Quality new patients spend much more than existing ones, all things being equal.
Their first year is often the year they spend the most. After that, although they will from time to time want and need major work, they are more likely to be comfortable postponing work.
But when they are new, they are willing to get a lot more done.
And new patients are often delightful to work with. They are appreciative of your fine dentistry and better referral sources. After a while, though, they settle down and take you for granted.
The best new patients are referrals, of course. But Internet patients are right up there, too. If you build a greater flow of new patients, you will experience higher production and profits, or at least you will hold your own in the recession.
The secret to continuing to build profits and production today is to make sure you are investing in a flow of quality new patients. The biggest mistake you can make today is to respond to the recession by cutting back on your new patient efforts.
All I can say is, don't do it.
But please do read my paper that talks about how and why doctors can quit advertising by building and working their own house list of prospects, using e-mail, at www.Cases4Dentists.com.
The comments and observations expressed herein do not necessarily reflect the opinions of DrBicuspid.com, nor should they be construed as an endorsement or admonishment of any particular idea, vendor, or organization.
Copyright © 2008 DrBicuspid.com
