Who Are You Selling To?
Or maybe a better question to ask would be,
“Who are you not?”
You’ve been taught to think that demographically hearing impaired people over the age of 50 or 55 are your target market. But how well do you track the demographics of who actually buys hearing aids from your practice? My guess is that you focus on what brought a patient to your office and you analyze what happens once they cross your threshold.
- Did they buy?
- How many units did they buy?
- What was the average selling price?
- What was the cost of goods?
- What brought them to your office?
But there are a host of other qualitative factors that should be analyzed including,
- Patient age
- Discrimination score
- Degree of loss
Who Isn’t Your Customer?
You should also be analyzing who comes into your office and not just to determine why they walked out without doing anything about their problem. Gather data on who they are,
- Their age
- Zip Code
- Degree of Loss
- Discrimination Scores
There are any number of ways to group individuals, for example, gender, race and employment status also come to mind. You may find (if you dig deeper) that your customer is a much smaller segment of your target market. If that’s the case it might be time to change things up a bit regarding your marketing. Figure out what you have that’s working and for whom. Then experiment with marketing designed for a different niche of your target market.
The ratio of people who wear hearing aids to the number of people who need hearing aids has changed very little over the past 20 years. It’s time to look at everything you’re doing differently or 5, 10, 20 years from now you’ll still only be providing better hearing to 20% of the people who need what you do.