[Webinar] Finding Well-Educated Patients – Branding Your Practice

Transcript:

Welcome everybody to our weekly webinar you I’m making a big mistake. I can tell by County going a little on the edge because the topics that I’m doing are a little bit politically incorrect and today is no different. So logistics place appropriately. You know a lot of people look at demographics they they all I know it’s important, and though they competition ratio is that’s important. Unfortunately, the truth is when you have a lot of competitors, it actually could mean that you’re going to make more money when you have no competitor. Just ask yourself why does no one else want to practice in the center area, but there’s also the idea that money is going to make a big difference. Oh yeah rich people there going to be the good patient, you know that’s not really true either. It doesn’t mean that rich people are going to pay their bill on time that they’re going to look for friends that they’re going to accept treatment. The simple truth is there a lot of reasons why people are good or bad, and today were to talk about one of those real positive indicators and that’s educational attainment, and here’s the thing you know it’s not as though people that have more education like doctors or any smarter than other people there. Not that the education does tend to be an indicator of other factors in the way that they accept treatment that they’ll refer that they’ll go have a perspective it’s different from other people also little bit more about that in just a second, but to limit going to share my screen so that I cannot go through my brilliant little presentation here. And by the way, it is really our here’s the deal. Just to let you know the finding or well-educated patients or a patient base is not always a simple matter. Ultimately, if you want right next to a university you find more people have PhD’s and if you would go elsewhere. Unfortunately they’re not necessarily a terrific population to go after because faculty and universities don’t make that much money. However people the real live world that have higher education tend to be better now. I want to give you a way of looking at a community. This is all inside baseball you’re not to hear this from anybody else. This is the city sector model of demographics. It is that we start off with a bull’s-eye right in the center of the downtown the people who live and work there are different than people who live in the concentric circles as you go up they call the urban core central business district or CBD as having unique characteristics by the way there either. The very like incredibly wealthy millionaire types are billionaires or their the sleeping on a cardboard box on the heating great for they tend to be great extremes. Then if you go outward from that you find the urban core, inner ring. Now these are usually going to be places that you find hospitals and universities of those that are surrounding the urban area then you get to a thing called the earlier suburb, but no one thinks people don’t understand is why say earlier and later. It’s as though you’re traveling from the center going outward and that’s where the reference to time earlier or later might be now earlier suburbs and later suburbs are usually much more populous than those urban core. So remember, they are not necessarily going to be about the same size or have the same number of people, but they identify the type of neighbor the urine and by the way, the type of practice that will work in an urban area based upon these factors and then on the outer ring the fifth ring or call the exurbs. Now exurbs area usually has far more people than those inner areas, rural areas are not considered part of the city sector model so you just illustrate real briefly my point. This is Las Vegas, Nevada. I chose it because it’s basically flat and they the rings are roughly kind of people size. If you look at that real central downtown part of Las Vegas, but it’s going to be very different. That’s the CBD as you go out. That’s for the hospitals. As for the teaching universities are found also money, but it’s not the same kind of business area and usually in the urban part goes to winter rings property is very very expensive you go out from that. That’s the earlier suburb and then the next largest ring are the later suburbs and then the biggest circle on the outside of the Xers know when you’re trying to find where to all the educated people live by percentage there found in the urban business district write down downtown. However, if you want to find the largest number of very well-educated people. You typically will look at the early suburban model nobody exactly knows what it’s often because these are places that have employment that requires higher education there found in the inner city but not in the super focus in the inner part and that the people who are the exurbs are usually there’s a lot of them but they tend to have not as high educational attainment as those people live in the in the inner part to the purpose of this webinar is to try to explain you guys. This is where you find well-educated people. Now let’s talk to a little bit about the city sector model is at six point they’re not equally popular but you can tell what type of business and what type of residence live in each sector based upon where they are relative to the downtown the businesses and residential types are going to very greatly. They usually don’t go to the exurbs and find more than a two story residential building, sometimes three story walk-up, but they’re usually not very many by comparisons. However, in the inner city you have to have an elevator, no matter how densely populated your area is because the type of place that you’re going need to know it. If you’re looking for a practice site a practice I can survive in any of these five radius Arabia, but there going to be much different in price. The growth patterns are also going to be really quite different. The exurbs will always have more growth than the inner city. However, when it comes to big building projects. The money goes in the court of the city. Now, what makes educated people different than this is what the real point of this webinar is people with more education have a different perspective and that this perspective is why there often desirable but the people who are watching this you doctors, you know most of you have got more education than you know what to do with their not smarter guys. You all went to a professional school of medical or dental veterinary school and you know some of these people are just as dumb as much. But one thing about people who are well educated as their children also tend to follow along in being educated their parents want them to be well educated. It’s a legacy. In other words know the people in these inner areas and talk about, particularly in the inner suburbs something most people don’t understand they may be politically liberal but their socially conservative. In this they don’t live together they get married they want their kids to get married. They want their kids to go to a nice university. They have expectations of an old-fashioned life and they find themselves doing a lot less self-destructive behavior except for those people who are in the very poor super less educated trigger part-time, but those people can be found the exurbs not in the interest of the area so they tend to act like people with more conservative lifestyles. The income is a correlation it’s not the cause and effect of education on the explainer of brief college professors don’t make as much money as people with a Masters degree you probably all know that attention that, given the fact that these people are educated and it just means their perspective will mean that they tend to look in the future, which then makes it so that there’s likelihood of greater income. They little more stable life educated people in and of themselves are going to be rich, but they are going to have a more profitable life if you will something it is less dramatic in the range of where they go. Educated people are not always better patients, but their choices tend to be wiser and I give you in dental perspective. What this means. If you have people who are well educated there going to be better orthodontic patients. Two years is a long time for treatment and let’s face it, the embraces can be, you know, 22 to 26 when the eight months he they recognize that the benefit of orthodontic care is felt long after treatment. So at the kid maybe 14 when they start braces and baby 16 when they get out, but it’s when they’re 25 that the benefits of orthodontic care will really be felt endodontics is painful and it’s expensive and a lot of people without education was a jacket docket read of it, but people who are a little better educated will look more for, or the endodontic care they see the benefit of keeping her original teeth. The other thing is true of periodontal care not. Let’s face it periodontics it doesn’t hurt. Usually when you have gingivitis or another, and soft tissue problem, but it’s knowing that when a doctor says you got a Perio pocket we need to take care of you may lose the tooth they’re perceiving something that has a greater benefit in dental implants is another example to look at denture. Not a bad option to be better than not having attention but the dental implant is a much better option because of what it will do the benefit of having educated patients in in dental care is these are the procedures that people get because they see longer-term perspective. At the same is true of dermatology by the way, in the same is true of just about every kind of healthcare practice. The people were educated have a better perspective on time and the benefits also well-educated people tend to refer to other well-educated people. That’s their social class as with the people they hang so therefore don’t be surprised if a practice that has a well-educated population grows to referral pretty well and people follow through with more expensive and longer term procedures whatever that might be nowhere. Can these people be found a couple things to keep in mind 35% of the population in the United States have a bachelors degree or more Masters, PhD the highest percentage is found in the urban core CBD, but the largest numbers of well-educated people are found in the earlier suburbs. In other words, 40% or more, often 50 or 60% of the people in that earlier suburb area have more education. That’s why they’re going to tend to be more profitable for the practice of just about any time. Now I’m in a say couple of politically incorrect things. I am not criticizing. I’m not saying these people are good and just saying if you want to know where educated people can be found. Here’s a couple truths the black intelligentsia. Black people have a greater amount of schooling are usually found in enclave communities. Now I’m saying by that is the tend to cluster together and very often based upon the school that they went to so they wanted Meharry or they went to see any of the other. Yet Bob traditional black universities, which produce a large number of very well educated black people. They tend to live in the same neighborhood. If you went to Chicago or Washington DC or Atlanta you would particularly notice that if you want to see a black doctor wanted to serve the black well-educated people. You have to know the neighborhood to go to there not spread out. By contrast agent intellect intelligentsia are usually cluster based upon their country of origin but generally there spread out and that’s because Asians generally speaking, have a greater desire for educational attainment that other ethnic groups. No well-educated are not necessarily better people or at the moral superiority, but it’s hard to tell them that this is true because you see, well-educated people tend to think they’re better than other people was ironic about that being a doctor yourself. You may notice that though argue with you all the time. I was smart as you, I got a big degree to and that makes it sometimes get up and however based upon the choices of what their their their choosing within your practice. The services yeah they may be the most profitable group you go after. Now the media will vary upon the educational attainment. In other words, what they watch what they read is very different than what everybody else is doing. This is also true for the basic motivations of life so educated people are not quite like everybody else and they can be a wonderful population upon which to build a practice and in case I haven’t mentioned this, we can help you to find the Dr. demographics. We track educational attainment scores almost no one else in about demography and healthcare does and that’s because they haven’t quite figured out the things that I’ve already told you see and that you’re so much more than you were before. Now ultimately he dry on the new edition of our GP book go to dentist site selection.com if you’d like to get a copy or to register or refer someone to come to our webinar podcasts dental practice inside.com is great for students. We strongly recommend now might yes talk to me I’m going to talk to his as it is a well-educated man yourself Scott, thank you, Mike and I appreciate that you are you. You definitely are and you know it and I think that the point from a marketing perspective is if you go down the path or at 80 even if your urban practice for the percentages. Five. You have high educated people your staff has to know that and and be ready and frankly you have to hire that front desk person to be able to communicate with that person that might be a little argumentative right and that person is being are embedded not because they’re necessarily a jerk. While sometimes they are, but that’s just their nature and the best front desk people can guide that conversation did a really positive place you need to make sure you’re hiring someone that’s not going to power your you’re hiring somebody who’s going to just to roll up their sleeves and start punching back. You gotta find someone that that does that. I was out of practice of a target doctor last week and they were saying that they don’t ever have a staff meeting and I think that’s crazy because you have to that is your opportunity to role-play to practice with your staff these situations and this is one of it. If you’re in that area where you got that kind of patient base. You gotta be ready for that true and that I will be a nice trip» how to think about so many shift gears is for a little bit if that’s okay Scott, that it is something a little different this week. So as many of you know the web watches for a while, I provide the that the mastery program I which is a series of a bunch of trainings and a question that I gotten a lot the last couple weeks of it on branding and so I thought I would do is ask to grab one of those trainings and show it here today as is kind of a little bonus and so I need a jeopardy took us about 10 minutes and that’s what we have left so Scott and to share my screen and to share my computer sound right. Hopefully it’s Scott. Are you seeing the brand identity why rent so important screen. Yes, that yes God pray with faith you’re muted that I can area Scott you’re muted. Okay, I should be on muted now. Yes I see the up to get our I will go ahead and click on that again and working to start that video him and him and Bo to the first section of the brand and identity training. I get money was my dream, but the deal practice insiders. I am your host on this particular section and I decided to talk to you about brand brand is one of those words is turning into a buzzword a little bit. He may have heard of the fact that the phraseology your personal brand that’s kind of something’s been through a lot. You’ll these guys are becoming you to stars and Instagram stars. But the reality is dentistry’s have personal brand as an important factor for a very long time now. The other thing to really talk about and I will warn you little bit because it does get a little bit for the philosophical it does get a little bit of what you might have gotten a marketing textbook had you I got working degree, but we are to talk about how brand doesn’t have people emotionally and that’s really important consideration is that Dennis and his practice or is how is it that your brand is going to convey your message. The message that you want to convey anyways how is it that that is going to impact the community you serve as definition goes the brand is more than just a logo as part of the brand, but it’s more than just a loan was more than just an icon is more than just the makers Mark it really is who you are or who your business is taken out for a second so the brands that that you connect with in your personal life if you like golf and maybe like to fish and maybe like to drive cars. I know for me personally. I have an Apple fan as I love my iPhone. I love my MacBook, I love all these things that utilize and connect with the Apple brand have done for very long time although I probably connect less of it today than what I did when Steve Jobs was zoning Apple just because it feels like it’s lost maybe a little bit of the magic is so that brand is a lesson for me and another friend. I love this past weekend I spent way too much time and money at Cabelas love to fly fish flyfishing is is what I do when I’m not doing this and that I spend time at Cabelas and I spent time there, looking at all the new equipment and all the flies and blah blah blah all the things my wife is crazy for about these are all things and brands that I connect with personally. So think about that what what brands you connect with them. It might seem a little silly that somebody would connect with their dentist for their dental practice as a brand and that would have any swelling in life that I think you actually might be a little surprised by that I think of some of the dental work that I had done personally or even more importantly, the dental work that I had done on my children were on my wife and how important it was for me that I connected with my doctor that I connect with my Dennis and I knew that that his practice was going to take care my family dollars and that brand is something that I’m pretty passionate about it is pretty important to me now. On the other side, it seems, but I also share that brand with my friends and I share with my family and I share with my new neighbor. They just moved to town across the street from me I should share these things will you gotta check out XYZ dentistry because like because I connected to the brand is so branding is one of those things that I think as professional. Sometimes we minimize a little bit, or maybe were even a little embarrassed by and so we don’t really invest in them personal brand like a little before dentistry is been investing in personal brand for very very long time, so much so that we even put our whole name in the logo and plaster right on the door and we don’t feel any shame about that and you should because that is the kind brand and that is the kind of impact you want to have on that community. So with that in mind, and that that kind of set up for what a brand is want talk about maybe that next level brand and maybe haven’t considered, but you really ought to. Especially if you’re the planning stage, your practice now so you are old timers into doing this for very long time and you’re just trying to sharpen the saw. When it comes to marketing still applicable to some of you are more at the beginning of your career or maybe you just purchased practice and that you’re looking to really make some good decisions going forward. I want you to think of two words, brand and legacy of those two words are can become very important to you and I talked to a lot of doctors at the end of their career where there, reminiscing about the legacy and what that brand meant to them and assure if they were in my position that they would tell many of your doctors that you need to really think through what the end of life is for your brand did you purchase the practice with the thought of having a flip and selling five years or is it can be placed here to raise your family and retire of those Questions and that kind of forward thinking is what is really needed not only as a business owner but as a marker you as a marketer and a business owner and it is dentistry that goes hand-in-hand. You have got to really have that plan now and that’s the mapping that you need to do so you’re you’ll be able to continue to cultivate and curate your brand so that at the end of your career or at the end of this year will even be where you want to be. So there’s a couple factors with Fred that you maybe haven’t thought about for what is this word culture and when I say culture I mean a capital CULT sure it really is called what I want to do and I might sound weird is you really are building a tribe of individuals that are going to follow your advice. They are going to follow you on social media there to look forward to coming to see you and they are to take your word is absolute gospel when it comes to dentistry. Why because everyone your doctors and people listing doctors and that way but number two. They are bought into your brand and so when we think about what we want our brand to be and how it’s demonstrated we really have to consider what are tribe or or hold that we’ve created. I know that where it has a lot of baggage to the literature you there. But, but it is what our tribe that takes and does the program both internally annexed or right your internal staff. They have to be part of your brand. They have to be able to take that bread and holes have some ownership in it and hold be advocates be great proclaimers of your brand to the general community and on the same hand your external try your patience, your friends people that are coming in and utilizing you as the doctor. They also are advocates of your brand and as they continue to invest deeper and deeper into your practice into the things that you’re doing what you’ll find is that brand will strengthen and you will gain momentum skeezy and it will become larger than yourself and that’s really where the magic happens. That’s when marketing is so much about dollars and cents, but it is about just maintaining and curating and cultivating that’s the goal. The brand is so that for this first section is really where I want your mind to be in that you need to make sure that you chart the path for your brand that you know exactly where it’s going to go and that you know exactly what I write so I was in that first section of the branding element and I think that the key take away here for a doctor and I know I said Dennis lifetime in this training with very very applicable really any professional practice over is you have to think of your brand where you organically and you have to think of your brand in terms of how your your patients are your customers also to think about. Assure the story of the connection that I made with the doctors that dad take care of my wife and my kids. I’m obviously a very strong emotional tie. In fact, I always refer back to the doctor that delivered all my kids. Still, a person that when I see him across the store. All I’ll go over and shake his head, because I have a very strong emotional tie to you how well he took care of our family during that time and so it if you minimize that if you don’t think that that your patients are going to create that emotional bond with you as you take care little Fido. Rather, Fido is your child or fight with your dog. You are going to your you’re wrong that emotional type does happen if you allow your brand to infiltrate that emotion. If you will, you’ll find you have a great marketability that brand now of a few other sections that I have any share these later webinars is that you have the opportunity to plan that Brent brand out on dictating what you want to do that brand will talk about that and maybe it it it it it a few weeks but Scott that’s my eyes for training on I realize I was much more hairy when I recorded that video. If you notice that I like to get a vote from our viewers who we like the bear or do we like the clean-shaven night yeah I will. I would like to be riches in those results to be honest with you. All right, everybody. Thank you so much for watching today. Please don’t forget to share us on Facebook at Dr. demographics and also let us know what you think. We look to handle topics that are of interest to you and thanks so much for watching