The traditional wisdom of a one-day markdown is that it’s a good way to boost a slow month or clear unwanted or stale inventory. And all that could apply to your practice. The downside, according to retail marketing wisdom, is that you hurt regular sales revenues ahead of the sale, you may not turn a profit, and, long-term, if you do them too often, you might very well hurt your brand.
Is the Goal Short-Term Profits?
An optometry practice isn’t a retail vendor (only). There’s value in engaging new faces as potential patients. That’s why a well-planned and carefully executed single-day sale can be more than inventory clearance or just a shot in the dark to make a buck. When what you do is inextricably tied to optometric services, not simply retail, that changes the dynamic in the long run. A well-executed sale could be just the thing to re-engage old patients and engage new ones too.
I Want to Discuss A Strategy For My Practice Growth
Take a look at this recent promotion from one of our clients:
Sure, their profit margins on individual glasses will be lower. And yes, people might avoid buying optical in the leadup to the event. But think about it this way: purchasing new glasses is rarely recommended without a refractive, and once you’re doing that, it might as well be a full comprehensive exam. Once you’re at that point, it’s easy to impress new or returning patients with just how great a patient experience you deliver. What’s more, you stand to make something off the lens upgrades if you play your medical cards right—don’t know what I mean? Check this out!
This Campaign is Actually Genius!
Notice how this practice also offered discounted dry eye services, with screenings and demos. Think about the long-term potential here. Even if the optical sales produce minimal profit, it’s a chance for a practice specializing in dry eye treatments to demo and discuss dry eye treatments to a captive yet engaged audience. Whatever the discount for treatment, dry eye treatments are typically long-term. So this doctor is leveraging an optical sale to build up a relationship with high-revenue specialty patients.
It all comes down to engagement and strategy. The more you can draw an audience, engage them with your practice brand, and set them down the path of being long-term patients, rather than short-term customers, the more you have to gain from a promotion like this one.
Want help planning and implementing events that grow your practice? We’re optometry marketers—it’s what we do. Talk to us.
Did You Know?
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Marketing Makes All the Difference.
ODSite - Get a premium website designed with your brand and business goals in mind enhanced with optometry’s best practices. Having a website doesn't eliminate the need for broader marketing but it's a start.
ODEssentials- Take the first steps towards new patient marketing with improved local presence in Google search, reputation management, social media and comprehensive integrated marketing campaigns.
ODCapture - Advanced marketing for any practice, ODCapture takes things up a notch by combining advanced content with beauty, branding, and SEO. ODCapture builds your practice into a recognizable brand to be reckoned with.
ODSpecialty - Become the expert and bring in new patients with expansive content, videos, campaigns, marketing material, and referral resources to grow your Vision Therapy, Dry Eye, Scleral Lens, Low Vision, or Myopia Management/Ortho K specialty practice.
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