How to STOP the Price Resistance Cycle

How to Stop Price Resistance

Hey Dr. Jeff, “It seems like everybody that comes into our practice is ONLY concerned with how much something costs!”

This statement is a recurring theme for many specialists & typically boils down to this…it stems from patients being SKEPTICAL and having ANXIETY.

If consumers don’t know you or are not confident what to expect from you then yes, you will continue butting heads with the price resistance bull. MOOOOO!

Think about it, if they don’t know anything about you then they don’t know if they are getting a fair price or not (nothing to compare to). So for this reason, they’ll keep shopping around until they find someone who will low ball you.

Do you remember the Rick Springfield “Don’t Talk to Strangers” 80’s hit? People’s don’t like dealing with strangers & tend to NOT want to do business with them.

Think about your practice. When you walk into your op to meet a patient for the 1st time, do they really know you?

Why not?

What could you do in order to attract people looking for an “Implant Expert” or “Soft Tissue Expert” that does NOT care only about price?

Million Dollar Lesson

Here’s a million dollar lesson that my marketing mentor, Dan Kennedy, taught businesses/practices to do over 30 years ago. Let me explain….

Dan used to write ads and copy write for Miracle Ear. He worked with over 1,200 hearing aid stores nationwide and pushed the franchise owners to find/partner with an implant/dentures dentist in their local area to offer some type of “benefit” to each others’ customers/patients. Unfortunately, only a handful heeded his advice.

One of the reasons it was difficult to him was based on dealing with a national company.

For you, at the local level, this would be MUCH easier to make an arrangement.

Why We Should Partner 

The two main reasons to partner this way are:

  1. there is NOTHING more expensive in any business than acquiring a new patient/customer, so being able to share this with someone is extremely important
  2. Obtaining an endorsement by someone already trusted makes all of the marketing and advertising to get new patients work much better. Think about it, if want to buy a new lawn mower and your neighbor, whom you trust, says to buy one from his reputable go-to place, Dealer X, then he has just made it that much easier to make your mind up where to shop.

THE Million Dollar Question

  • What businesses in your area could you potentially partner with? (Hearing aid centers, MDs, hospitals, eye docs,etc.)
  • What patients in your practices own businesses that you could ask to partner with?

Basically if you scratch their back, they’ll scratch yours.

I partnered with our local hospital after treating the CEO of said hospital at that time. I offered them a “special” that they could pass on to their employees (over 2,400). This way, they benefited from being employed by the hospital. Basically they can offer their employees “perks” because of you.

If you truly want to take your practice to the next level, brainstorm this strategy and let me know how it works out for you.

Have you partnered with outside businesses in the past? Let us know by leaving a comment below in the Comment Section.

 

 

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