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Are you maximising revenue potential from existing patients?

Dental practices that want to succeed and thrive in this competitive industry need to ensure they are doing the basics well.

Delivering high standards of patient care and excellent customer service are two fundamental priorities, but other targets such as deriving maximum value from existing customer relationships could prove equally important.

By building up strong, long-term relationships with a base of loyal patients, your practice will benefit from a steady flow of revenue, as well as a higher chance of bringing in new business through advocacy.

Research has indicated that many businesses find it difficult to make the most of the possible value of existing customers.

A survey conducted by the Chief Marketing Officer (CMO) Council back in 2008 found that more than three-quarters (76 per cent) of marketers felt their business was not fully realising the revenue potential of its customers. Ten years on, 77 per cent of respondents still felt the same way, while ten per cent admitted they weren’t sure.

Looking into particular methods of engaging with customers, the latest study by the CMO Council and communication management platform Sendwithus found that less than four out of ten marketers (36 per cent) were using transactional emails to develop customer relationships.

Liz Miller, senior vice-president of marketing for the CMO Council, said: “Collaboration around the customer should not be an afterthought. Consumers are triggering communications, quite literally giving brands the go-ahead to continue communications.”

There are various methods dental practices can use to build stronger, more rewarding relationships with existing patients, such as sending out regular newsletters to engage people and keep them up to date with your services.

Promotional stationery and referral cards can also help to strengthen your brand and encourage satisfied customers to recommend your practice to their friends and family.

Image credit: velvelvel/iStock

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