May 30, 2007

Why so many people ask about “PRICE”

A belated Happy Memorial Day to you! I hope you had a wonderful long weekend.

As you know, it's my mission as founder of Dental Insiders Alliance to help you grow your practice beyond your wildest expectations. These messages deliver hard hitting content to you that will either reinforce "proper" thinking, or perhaps even open your eyes to concepts you may not yet have considered.

In this message I'll reveal why so many dental prospects (potential patients) and existing patients ask about "price"... and what you can do about it.

Understanding the concepts in this message could well be worth hundreds of thousands to you in new business for your practice. That is IF you apply them! So, let's get started.

OK, there are two main reasons why people ask about your fees. First, they are at least partially INTERESTED in BUYING what they're asking about! That's a good thing. Think about it. Who would ask how much a crown is if that person didn't need or want one?

Second, they are often comparing your fees with other dentists' fees. This is not necessarily a good thing, but that doesn't mean that it must have a negative effect on your practice...even if your fees are among the highest in your area.

Here's the "secret". The more SIMILAR people perceive a product or service to be, the more sensitive they become to differences in price. The same is true in dentistry. Very little if anything is done by ANY dental practice to differentiate itself from all the other practices. Services are listed in ads as commodities, with no explanations that describe those services as uniquely distinctive in any way.

If people perceive all dentists to be about the same (which they DO), and thus all crowns to be about the same (which they DO), then all they have to use as a basis of comparison is PRICE. Hence the famous question: "How much is a __________?"

So what can you do about it? The answer lies in the previous two paragraphs. When you can DIFFERENTIATE your practice from the others in your area, you immediately become the desirable office for those who appreciate and are willing to pay for higher levels of service. Price becomes far less an issue, even eliminated for those who want "the best".

What differentiates your practice from the others in your area? Aye, that's the big question that you need to answer. The sooner you and your team determine what sets you apart from the rest - AND actively get the word out about it - the more likely you'll become the "go to" practice in your area. Best of all, you'll develop relative immunity to questions about price!

My mission: your success!

All my best,
Chris

No comments: