If you’ve researched online marketing or healthcare Internet marketing ideas, you’ve also probably come across the term “brand loyalty.” While this is definitely a business term, it can also be applied to your medical, dental or veterinary practice. Building a brand for your practice is an effective marketing strategy, as we’ve touched on in this blog before. But before we go further, let’s take a look at what the term actually means:
What Is Brand Loyalty?
The meaning is fairly obvious: “It’s when consumers are committed to your brand and make repeat purchases over time.” It also means that those loyal customers become “brand ambassadors” and speak highly of your brand to friends and family, resulting in free word-of-mouth marketing.
Brand loyalty can definitely impact your practice is a few different ways:
If your patients are loyal to your practice, that generally means they’re going to talk about the positive experiences they’ve had there. Having brand ambassadors can help you gain new patients via word-of-mouth.
Brand loyalty can extend past your patients. It’s important that your practice also builds a positive relationship with professional associates because if they’re loyal, they’re also going to positively market your practice to others in their fields.
Did you know that businesses have a 60% to 70% chance of selling to an existing customer compared to the 5% to 20% probability of selling to a new prospect? The same goes for your medical or dental practice – you’re more likely to generate revenue from repeat patients than by converting new patients (although you should still market your practice toward potential patients as well, of course).
Hold Off the Competition
If your patients are happy at your practice, you have less to worry about when it comes to your competitors – if they’re pleased with the service they receive at your practice, why would they want to leave?
If patients are loyal, it means you’ve developed enough goodwill from them that they’re probably going to be lenient when it comes to small mistakes and misunderstandings. This goodwill can also help you maintain a good reputation online and offline.
Have you created a brand for your practice? Whether you want to brand your healthcare practice or create brand loyalty among your patients, we can help! Contact one of our talented healthcare marketing consultants today at 800.679.1263 or firstname.lastname@example.org to learn more.