Chapter 10

From ADA Wiki

How To Do Cost Effective Marketing in a Static or Declining Market

Original Author: James M. McDonald, ScD

Creative marketing doesn’t have to cost a lot to be effective

The following outline provides an overview of a marketing plan, which every business and professional practice (no matter how big or small) should develop.

A. Situation Analysis

• how do YOU perceive your current business or practice
• your competition, your position relative to your competition
• the overall environment as it affects your business (economy, trends, etc.)
• market opportunity areas
• potential new product/market research be conducted - it is recommended that some market research be conducted to develop a situation analysis, particularly a periodic patient survey.

B. Objectives
Try to make objectives quantifiable and subject to a time line so you can measure results. You can include long-term and short-term; some of your tactics may have tactic-specific objectives (ex.- to get 25 people to a seminar on hearing loss in August). In general, your overall objective will be to increase your patient base or revenue by x (dollars or people).

C. Target Markets
For most professional service providers, there are multiple target markets for the marketing
communications effort. The primary ones include:

• current patients
• prospective patients (primary vs. secondary)
• media
• referral sources
• suppliers/employees

D. Strategy Statement
If your objective is where you’re going, strategy is how you’re going to get there. In general, a safe strategy for most professional service providers is to: "Increase visibility and credibility through a carefully orchestrated series of activities and events that position________ as an authority in his/her field." Strategically integrating tactics from the following communications areas is intended to increase visibility and credibility: public relations, media relations, clients relations, collateral, direct selling, advertising.

E. Tactics
Tactics are actual activities or events that facilitate implementing the strategy in order to achieve the stated objectives. This is also where budgeting comes in… what can you afford?

Public Relations. . . . . .the "soft sell" of marketing intended to sell an image and foster goodwill.

Media Relations. . . . . .keeping your name in the public’s eye through serving as media resource (thirdparty
endorsement; "he must be somebody to be quoted by the news") Look for community "hooks; warm-fuzzy to pitch stories.

Client Relations. . . . . ."a bird in the hand is worth two in the bush"; contact minimum 4 X year,
non-selling.

Collateral . . . . . . . . . . .anything printed that represents the practice.

Direct Selling. . . . . . . .networking, cold calls, trade shows, referrals.

Advertising . . . . . . . . . .try to keep event-specific to keep budget down.

F. Evaluation
As with stating objective, evaluating a marketing plan should occur in stages (short-term
accomplishments and long-term). Setting realistic objectives and making sure to be CONSISTENT with the message and the communications effort is key to long-run success. You do not need to tackle a lot to be effective; just pick a simple strategy and implement it.

G. Action Plan/Budget
This is where you prioritize and actually schedule your implementation, developing or working within a specific budget.