How Conducting Market Research Shapes Marketing Strategy
by Ariel Grinspoon
At Dental Revenue, we take pride in our ability to put together an effective marketing strategy for each of our clients to help them to achieve maximum results. Our strength in market research and data analysis make us stand out in the field of online marketing.
When beginning the process of new client acquisition, we start with targeting. We search for practices that meet the criteria that we have found to be successful with our current marketing strategies. While this process is ever-changing, conducting a thorough assessment of a dental practice will help to produce results and, in turn, with client retention.
Steps to Creating an Effective Marketing Strategy
- Conducting Market Research
- Collection of Data
- Data Analytics/ Strategizing with Marketing Team
- Developing a Goal-Oriented Plan of Action for the Client
The Success is all in the Details
The client’s list of offered services is not the only thing to take into account in the development phase of a marketing strategy. The market size, population density, whether or not there is corporate dentistry in the local market, along with a comprehensive analysis of the competitors in the area are all other important aspects to be considered in deciding which marketing services and budget will be successful. This type of research will also help in addressing any potential challenges and determining solutions along the way. The details are what help us to create a productive approach while setting achievable goals to get the best return for our clients.
The success of any marketing plan is directly correlated with the growth/ revenue of the practice(s) involved. The more time that people are spending online, the more they are connecting with our dentists. It is crucial that the client message is clearly stated on the site as well as incorporated into the keywords and campaigns. While the specifics in advertising are important to any client’s success, the content on their website is equally as important. We work as a team to ensure that all parts of our program, from the website design to the paid advertising, are well thought out and executed.
The Effects of Intel on Client Retention
While the acquisition of new clients is crucial for company growth, client retention is how a business’ reliability is measured. By having bi-monthly review calls with our clients and regularly checking our intel to mark any changes in the practice as well as the market, we can make necessary shifts in the program to consistently stay on top of the market trends.
Doing this continued research helps us to find new areas to expand as well as to set achievable goals to drive up practice revenue. By keeping clients happy with their performance, and growing their lifetime value, we are able to grow ourselves.
By instituting these strategies and using the information from our data collection, we hope to improve our customer experience and generate the best return for our clients.