Minoa’s President, Naomi Cooper, was recently featured as a guest on Gary Takacs’ podcast Thriving Dentist Show. Click the link below to listen to the podcast, and discover…Attracting Quality New Patients
And our thanks to Gary Takacs for the opportunity to work together once again!
Many questions – and emotions – arise when the topics of retirement and the potential sale of a dental practice come up. While it may not be obvious at first glance, marketing and branding will play major roles in facilitating the sale and transition.
The importance of branding should not be minimized. Branding distinguishes a practice from its competitors. Some dentists may mistakenly believe that branding is just for group practices or large corporations. But in reality, it serves to enhance the practice’s local affinity, small business sensibility, and professional feel.
Any dentist within 10 years of retirement needs to consider whether having his or her own name on the shingle makes for the best exit strategy. It’s key to be able to maximize the practice’s value when it’s time to sell, and having all of its brand equity wrapped up in the primary dentist’s name means that one of the practice’s major assets isn’t transferrable.
Additionally, branding strategy is not something that can be created overnight. It takes time and effort to build and sustain a strong brand that inspires recognition and loyalty in patients and the community. So, there is no time like the present to begin building your dental practice brand! Even dentists who are just starting to think about retirement will benefit from honing their branding strategy now.
Every dental practice owner desires to find a suitable buyer of their practice – one who will maintain the quality of care, someone the dentist feels comfortable handing off their patients of record to. Having a solid branding strategy already in place will attract more qualified and desirable buyers to the practice, thereby easing the transition.
Just as you coach your patients on the benefits of preventative care, put your recommendations to work for your dental practice. Don’t wait until retirement is just a few years away to develop a marketing strategy. Having a plan in place ahead of time is one way of ensuring a smooth transition for you and your patients.
Here on the blog I often speak to the importance for dentists to engage in social media and online marketing. New modern tactics like these are essential for dentists to keep their marketing fresh and relevant. With that being said, a solid marketing plan includes a mix of new and old methods. And nothing can replace the value of professional networking.
Many dentists shy away from networking. Their reasons (ahem, excuses) range from not wanting to be too “sales-y” to simply not understanding the importance of networking.
No amount of advertising can replace face-to-face communication. Fostering relationships with fellow dentists, specialists, other healthcare providers and even other business owners is a way to market your practice and stay in touch with the local community.
Networking does not have to be cheesy or phony. Instead, approach networking as an opportunity to meet other business professionals with the same goal in mind – to grow their business.
Here are few ways for dentists to jumpstart their professional network:
In the end, if you are not talking about your practice, who will be? Operating a successful dental practice is not just about quality patient care. Meeting people and establishing professional relationships must be an element of your dental marketing plan.
Unless you’ve been living under a rock, you are probably aware of Facebook and the effect this social network has had on our culture. According to Mashable.com, as of October 2012, Facebook has approximately 1 billion active users who access the site each month!
While you may already be comfortable using Facebook on a personal level, it’s important from a business owner’s perspective to know that having a Facebook business page for your dental practice is a great way to increase the reach of your online profile – and to connect with patients and your community. If you do not yet have a Facebook page for your practice, now is as good a time as any to start.
Here are 7 simple ways to build a page for your dental practice:
Now that you have set up your dental practice business page, it’s up to you to keep it updated. Posting often and consistently will help to build your Facebook following. For more ideas, be sure to check back here for our next Social Media 101 posting on the 3 Best Practice Tips for Your Facebook Business Page.
Do you use Facebook for your dental practice? Why or why not? Start a conversation below.