#104: Marketing in a Slow Economy

In this episode of the Dental Marketing Secrets podcast, Mark Thackeray discusses the impact of economic slowdowns on dental practices and the importance of adapting marketing strategies accordingly. He emphasizes that while demand may not disappear, patient behavior changes, requiring practices to maintain visibility and trust. Mark shares insights on optimizing conversion rates, building authority, and reactivating existing patients, all while focusing on providing value rather than discounts. The conversation highlights the need for proactive marketing efforts to capture market share during downturns and prepare for future growth.

Takeaways

• Economic slowdowns change patient behavior, not demand.
• Cutting marketing can lead to significant revenue loss.
• Maintaining marketing efforts can lead to market share gains.
• Building trust is crucial during economic downturns.
• Optimizing conversion rates can yield better results without additional spend.
• Providing value is more effective than offering discounts.
• Reactivating existing patients is a cost-effective strategy.
• Proactive marketing helps practices recover faster post-downturn.
• Educating patients on treatment options is essential for decision-making.
• Avoid panic selling in marketing; focus on strategic opportunities.

Chapters

00:00 Introduction to Dental Marketing in a Slow Economy
00:57 Understanding Economic Slowdowns and Patient Behavior
03:48 The Importance of Maintaining Marketing Efforts
09:08 Strategies for Marketing During Economic Downturns
11:04 Building Trust and Authority in Marketing
15:59 Optimizing Conversion Rates for Better Results
22:46 Providing Value Over Discounts
28:00 Reactivating Existing Patients for Growth

Get Support

You don’t need to do everything. You just need to do the right things in the right order. If you want help building that plan, we’re here. Contact Maria to get started - maria@markthackeray.com