Aesthetic Marketing 101: Why EVERYONE Is NOT Your Target Market
Yesterday, I was talking on the phone with a client who’s a prominent plastic surgeon. It had been a long day. It was 7:00 at night and my client had just completed his second facelift for the day. That can be a good thing, of course. How many professions are there where you can regularly earn $35,000, in a single day, for your skill set? Not many! However, something occurred to me shortly after we hung up. How many women, I wondered, can really afford to invest $17,500 in a facelift? How many have to tightly budget a car and a mortgage, or college tuition and their daughter’s wedding? While you’ve likely often heard me say that people can always find a way to afford the things that they really want in life (e.g., why do houses in the ghetto have the biggest TVs), the real question is: “Is your marketing reaching the right people, who can easily afford your services? Or are you trying to push water uphill?”
The best patients to work with are those who:
1) Can easily afford your services, and,
2) Have already heard about you and your reputation through your marketing, and are virtually 98% sure that you are the best cosmetic surgeon for them.
One of the most common mistakes all businesses make (not just medical clinics) is that through their marketing, they try to be all things to all people. I call this the “spray and pray” approach to medical marketing. You’re not really 100% sure who your target market is, but if they have a heartbeat (and an XX chromosome, particularly), they’re fair game for your services.
Please repeat after me: “EVERYONE is NOT my target market.” Lather, rinse, repeat.
The reason is simple. If we did a marketing analysis on your patient database as part of our 1-day Practice Transformation Consult, we would discover that Pareto’s 80/20 rule applies: 80% of your results come from 20% of your marketing effort (another reason that we at Premier Physician Marketing are so adamant about scientifically measuring ALL your marketing).
In other words, 20% of your patients are responsible for 80% of your profits. The trick is knowing which 20% of your marketing efforts bring the majority of your results. To double the size of your practice, then, all you have to do is find out who the top 20% of your patients are, identify their common characteristics and then, like a laser beam, focus the majority of your marketing efforts toward attracting those people (instead of doing the alternative — thinly spreading out your marketing budget, trying to reach as many “untargeted people” as possible, in the hope that something, anything sticks!)
Once you understand the power of accurately identifying and laser-focusing in on your target market (and of being able to measurably diagnose the effectiveness of your marketing spend), you’ll be amazed at the difference it makes to the potency of your medical marketing — and to your bottom line!