What’s So Great About Market Analysis?
Marketplace analysis…market research…
Many elective surgery practices do not employ market analysis tactics within their practice-building strategies. If you view market research as just another black hole for your budget, you may befalling short in a number of areas, including:
- Staying one, two or three steps ahead of your competition
- Providing patients what they really want
- Remaining relevant in your community
- Spending marketing dollars as effectively as possible
“There is nothing so terrible as activity without insight.” (Johann Wolfgang von Goethe)
Practices that continually analyze their marketplace will have a competitive edge. These are the practices that will adapt to constantly changing trends, rather than being stuck repeating past failures. These are the practices that will boast the best reputation, command control of their markets and reap the monetary rewards.
“Research is to see what everybody else has seen, and to think what nobody else has thought.” (Albert Szent-Gryorgyi)
Armed with solid data about your community, your competitors and insight into your own practice, you can begin to rethink your strategies and devise more effective ways to “speak” to potential patients.
If marketplace analysis seems like a nebulous task, don’t let fear of the unknown stop you from moving forward. Find out how to start the marketplace analysis journey byregistering for the upcoming medical marketing webinar, “5 Ways to Analyze Your Marketplace & Why it is Vital to Your Bottom Line” on Nov. 19 at 4:30pm EST.