9 Ways to Differentiate Yourself in the Marketplace
We often talk about how dental implant practices can market themselves in a competitive landscape. Practices have to put their best foot forward to ensure implant leads are generated… and accept treatment.
One of the best ways to differentiate yourself in the marketplace is by using a unique value proposition. This is also called a buying proposition or a market position. It is your business’s main promise of value to the potential customer.
It can be difficult to come up with your implant practice’s special proposition. Where does one even begin? To help with that, we’ve established 9 ways your dental implant practice can set itself apart from the competition. These are the main differentiators for your business. Take a look, and then choose one or two to use for your practice.
Table of Contents: 9 Ways to Differentiate Yourself in the Marketplace
1. Cost: Differentiate your practice based on how your practice makes dental implants affordable. [top]
Cost is one of the first differentiators that comes to mind. If a consumer is presented with two products that appear similar, they will almost always choose the one with the lower cost. Thus, you can differentiate your implant practice using cost. This cuts both ways.
On one hand, you can market yourself as a “low-cost implant doctor.” The goal here is to make treatment affordable for all by using low-cost materials, offering financing, and setting low markup on the procedures. The goal when differentiating yourself as a low-cost practice is volume. Unless you bring in a higher quantity of cases, then you will fall behind.
On the other end of the spectrum is differentiating yourself as a high-cost practice, which we’ll cover in Service and Materials.
To successfully differentiate yourself based on cost, make sure your marketing targets consumers who match your cost profile. Additionally, make sure to match your messaging to your pricing. By doing so, you’ll achieve much higher consistency with your marketing and close more implant patients.
2. Terms: Differentiate your practice based on flexibility in payment terms to help patients fit implants into their budgets. [top]
You can also differentiate your implant practice by the payment terms you use. Your implants may cost the same as someone else’s, but you can offer more favorable terms to make the purchase easier on your patients.
Many practices do this with a long-term payment plan composed of small payments over time. For example, a practice’s proposition could be, “You can get your smile back for only $99 per month!” You could also offer higher-end implants at a more affordable monthly price.
Some implant practices may offer little or no interest, while others seek to partner with a financing company. In the end, your goal when differentiating yourself based on payment terms is to attract patients by letting them know you will help them get the transformation they desire for a payment amount they can afford.