Marketing in Today’s EconomyI

I believe that marketing is about problems and opportunities. Depending on our marketing attitude and our marketing perspective, most situations can either be viewed as problems, or seen as opportunities. The economy is one such issue. Is this a problem or an opportunity.

I realize that times are tough, but let’s make lemonade out of the lemon.

Here’s what I recently told a client, that he admits has changed his attitude and given him a new perspective. He has 500 active patients. In his town, there are two other chiropractors. Each has about the same number of patients. So we can estimate that there are 1,500 chiropractic patients in that town.

I asked my client, in a worse case scenario, how many patients he felt he would lose due to the economy. He said that as many as 10%. I asked if he was better than the other two doctors. Did he care more? Did he provide value added service? Did he provide a greater exchange of value to his patients than the other doctors do? 

He answered ‘yes’ to all three questions, which led us to guesstimate that the other two would then lose more than 10% of their patients. After all, if my client is going to lose 10% and he provides better care and better value than the other two, then it is safe to guess that they will lose more than 10%, right?

That means that currently my client has a 33% market share. And that if he does nothing different, bad economy and all, at the end of the year he will have a little better than 33% market share [since his competition will lose a few more patients than he will] WITHOUT DOING ANYTHING AT ALL.

But I then asked him, ‘what could you do, to let your patients know that you REALLY care, that your TRULY understand their situation?’ Are you willing to work an extra afternoon to show them how much you really care?

What if you offered care to anybody in the community that was unemployed? Do you think your unemployed patients would appreciate it? Heck yes. Even if they are too embarrassed to accept, they would remember. And they would tell others. 

Do you think word would get out? Do you think that maybe some of the other chiropractic patients would hear about it? Absolutely!

My client is now seeing patients on Thursday afternoon and Thursday evenings. He is overwhelmed with patients who really appreciate what he is doing. Yes, some from the other doctors, but many who have never been to a chiropractor. Many who have traditionally depended on their insurance coverage.

Now he understands that this strategic effort, with no hidden strings, simply offered because his community is in need, is paying off for him, now and in the long run.

What do you think his market share will be at the end of this year?

As always make sure you are within your state rules and regulations.

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