Marketing During a Recession

Minty Dental Marketing - Feb. 2023

How Do I Market My Dental Practice During a Recession?

Financial downturns are nothing new, but if your dental marketing practices feel like they're taking a dip due to external circumstances, it's important to remember that marketing during a recession can be challenging. While people are finding costs rising and profits stagnating or heading in the other direction, the reality is that you can market your business effectively during a recession. Why is this and how can you do this?

Making Simple Changes to Your Marketing Strategy

One of the major oversights businesses make when it comes to marketing during a recession is not understanding why their marketing campaigns were really successful before. You must invest strategically in your dental marketing strategy by doing some of the following: 

Prioritizing Customer Retention

It's not just about getting new customers, but about making the most of your current customer base. You will need to depend on your current customers and appreciate their worth. The bulk of income generation will depend on your existing customers. 

Consider What You Are Offering Your Customers

When recessions hit, your customer will look at their purchases more carefully, and weigh up the pros and cons. Affordable dental marketing is achievable when you understand that it's not just about promotion in terms of marketing practices, but about evaluating your entire service package and making it more cost-effective, for example, offering a cheaper version of your top-of-the-range service under a different name. 

Outsourcing Your Marketing

A dental advertising expert such as us can help you to understand the best practices for your dental business. Marketing strategies must adapt or fall by the wayside. Financial downturns can result in businesses struggling to retain customers, but also retain experts. This is where dental advertising experts could help you to provide affordable dental marketing practices.

Monitoring Your Expenditure

In addition to changing your marketing strategies, you must also recognize that the way you spend on your strategies requires a more carefully considered approach. If you want to achieve your ROI, you need to pay more attention to detail in terms of your services, but also monitor your expenditure. Market downturns place pressure on the relationships between sales and marketing, but the solution is about aligning your sales and marketing more closely. You can develop more detailed personas to ensure that you are focusing on new, high-quality quality customers.

Maintaining the Visibility of Your Marketing Dynamics

In an unpredictable environment, it is far more critical for your business to have a clearer picture of what is happening in your customers' behavior, and how your competitors are keeping themselves afloat. Having insight into your marketing and your sales will inform you of the best strategies to guarantee you operate with a leaner approach to marketing. 

There are a number of critical components to ensure you can conduct dental marketing during a recession. If you are finding it difficult to retain customers or maintain competitiveness, it's critical that you find a dental advertising expert that can help you do the job you are meant to do. Minty Dental Marketing can provide all this support at a much more affordable cost in comparison to other dental marketing agencies.

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