The dreaded “R” word is creeping into the headlines again. And with future economic prospects less than encouraging, you may be eyeing your marketing budget – and sharpening your pencil.
But recessions offer you a great opportunity: Your competitors are no doubt cutting back on their marketing and advertising – leaving the entire field to you. Your fearful competitors are, in effect, handing you the market – and plenty of patients – on a silver platter.
Savvy businesses and practices actually beef up their marketing during slower economic times. Do this, and you can grab large chunks of market share, multiply your patient base, and add extra profit to your bottom line. And you can do it much faster than you ever could in a booming economy.
Still want to cut costs? Talk with your suppliers. In down times, everything is cheaper. Consider adding equipment that was previously too expensive and negotiate to make it more realistic.
And then, of course, let potential patients know about all the benefits they’ll gain from the new services this new equipment allows you to offer.
Have the courage to move forward while your competitors are cutting back, and you’ll never need to dread the “R” word again.