The Market has Changed, Have You?

Price-sensitive shoppers and increased competition have finally turned the aesthetic medical market into a traditional marketplace.  The Recession and the explosion of competitors and new procedures offering similar benefits has created the perfect storm to confuse practices who remember “the good old days” from the last decade...

Price-sensitive shoppers and increased competition have finally turned the aesthetic medical market into a traditional marketplace.  The Recession and the explosion of competitors and new procedures offering similar benefits has created the perfect storm to confuse practices who remember “the good old days” from the last decade when patients paid premium rates all the time for real cosmetic procedures without much, or any, comparison shopping.The bad news is that those days are gone for good.  The Recession has conditioned buyers into extreme price sensitivity.  You can’t stop competitors from focusing on price, offering specials and reducing the perception of value along with price-gouging.  This is what happens with choices.   Injectibles for surgeons and teeth whitening for dentists were the first services in their fields to become commodities.  Soon.. and be warned...this will happen with your high value services if it is not happening noticeably already.  You may already be hearing, “Well, I can get a breast augmentation with another doctor for $1000 less.”  This is very alarming.   Statements like this mean that people are not buying on value.If you think this is an urgent problem, you are right.  In general business terms, in 2013 the aesthetic medical market took a huge step toward traditional business functions.  The bloom is off the rose and the now the hard growth starts. I am hearing the same observation over and over this year.  Our marketing stats are up but our billings are down.  More leads are coming in but fewer are becoming patients.  It’s another part of the perfect storm: many practices have got their marketing down but are not prepared to convert in competitive marketplace.  This vast majority of practices know marketing now and it’s working.   However, the prospective patients are a different animal and if your team isn’t prepared to fight for business from the first word, you will miss opportunities.The good news is that there is a way to improve.  Your practice must become a strong selling organization.  You must make the leap to sell cosmetic and high end procedures like high value items are sold in Real Estate or high value cars.   I can hear you bristling when you are reading that.  But, you have the advantage reading this now... at the point where the game is changing.   Dog Star Media has a tool that is debuting this month that can help you find more business in the calls you get.  We call it The Virtual Sales Managers.Our Virtual Sales Managers program is designed to help you turn your organization into a real sales organization one day at a time.  Using your own recorded phone calls from our tracking numbers, we help you make one small adjustment each day with one selling communications tip.   We make it this easy: Enroll, then simply provide the leadership.  Adopt the Virtual Sales Managers’ 5 Guiding Principles and then start using the tips.  You do a little each day and, instead of a drastic training course that everyone will resist, you can enact long-term change now.  With your leadership, we can help you redefine the selling culture of your practice to compete fiercely in the marketplace, but to do so with positive, pressure-free communications.  In short, the 5 Guiding Principles are about relationship building.  They are not about closings, sales techniques or creating pressure. The results will be this: more, better connections with your prospective patients.  The truth is... that is what is missing.  The chance for better communications are what got swept away in the perfect storm.  When a prospective patient says, “I can get that down the street for less.”  Or if they ask for a price, then want to hang up, it means they are conditioned to shop for price, not value, not trust... just the best deal.   We can help you learn to show them that the best deal is with your practice because of the value you offer and the trust you engender.   If they understand that value and trust, why would they feel the need to shop around?Remember this blog.  In a few years, the most successful practices will have made this transition to improved selling of high value.   Those who do not will be left to fight an uphill battle.  The Virtual Sales Managers can help you make that change starting today and we will be there to help you make a little improvement every day in this area.  Interested in learning more?  Email me at donald@dogstarmedia.com or you can sign up directly at The Virtual Sales Managers.