Last week – I had the absolute pleasure of interviewing customer experience champion – Iven Frangi – for one of my Profit Club “CD’s of the Month”.
In this interview Iven spoke about the “5 Challenges of Health Business Marketing” and how many health business owners are going to the wall because they do not understand these challenges.
According to Iven the 5 challenges are:
1. The Authority Shift -referring to the fact that our clients and patients are so well informed these days that the clients often hold the power – for example- how many times have you had a patient say to you ” I did some research online and I think I have this problem – and I should do this about it”.
2. Differentiation – this is one of our biggest problems – as Ivan says – most health businesses are too “vanilla” – i.e. – we are all the same and have no differentiating qualities that make us stand out in the marketplace.
3. Exponential Growth – most health business owners are too locked into the “billable hours” concept which means our incomes are limited by the number of therapists we can employ and the number of treatment rooms we can fill.
4. Value versus Price – Iven says that our patients are not “price sensitive” but are “value sensitive” – that is to say because we don’t differentiate ourselves well enough in the eyes of our patients – we are judged as a commodity – and price becomes the only determinant of the worth of our services.
5. We focus too much on the competition – so what if the guy down the road has 10 years more experience than you – stop worrying about what everyone else is doing and get to work on differentiating yourself in the marketplace.
What to Do About It:
– Deliver what the internet cannot – individual care, one on one assessment, personal service and incredible customer experiences in every interaction.
– Differentiate yourself from the “vanilla crowd” by becoming as specialist in a specific condition or problem, create a truly individual experience or create programs that only your business can deliver.
– Look for passive income opportunities and exponential income that is outside of your billable hours.
– Set you prices in relation to the value you add to people’s lives – and never feel bad about the price you charge.
– Forget about the rest of the providers in your area – work on what you can do differently than everyone else and then market the hell out of it.
I hope this makes you think a little more about your current business direction and some ideas on how to take your business to the next level.
Iven is just one of the experts that are part of the “Profit Club” program.
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