In 2018, Dunkin Donuts made a move that seemed minor: they dropped “donuts” and simply became Dunkin. This brand shift reflected an underlying streamlined approach and a new purpose as a beverage-first resource. Dunkin didn’t take the task lightly and invested over $100 million in its new direction.
Some dental practices are motivated to follow a similar path, and a full-scale effort can introduce a new logo, color scheme, physical signs, and business suite. This effort may include a new name, especially if a regional office expands into new geographic areas.
But the good news is that you don’t need to recreate your entire brand to support your practice’s evolution and increase marketability. Visible changes help freshen your image and appeal to patients and prospective buyers. Of course, marketing and branding should always involve a thoughtful plan tied to other business-growth strategies. And your practice’s digital representation must be consistent, so consumers don’t experience brand confusion.
Consider these five ways to refresh your brand as part of your overall growth and marketing plans. Implement one or all of them, and you’ll add value to everyone that looks your way.
1. Evolve your practice name and logo.
A long-time dental practice name may carry a perception you’ve outgrown. For example, Smith Family Dentistry projects a different message than Smith Dental Arts. Both work, but if you’ve developed a reputation for cosmetic dentistry and your growth plan includes focusing on smile makeovers, you may want to consider a name revision. This evolution may lead to digital and physical brand asset updates, so you must be prepared to update everything from stationary to social media banners.
2. Spruce up your physical space.
A complete remodel sounds enticing for an older office, but the costs and disruption present obstacles that don’t often make sense as you consider a practice sale. Fortunately, you can make a few simpler moves without increasing debt and undercutting profitability. For example, fresh paint, flooring, and reception area furniture make a positive impression on any visitor that steps through the doors. In addition, consider creative touches such as LED lighting, artwork, and accent walls that provide intangible value at a reasonable cost.
3. Update your website with a modern look.
The world moves fast, and some color schemes, images, and websites look dated after a few years. It takes less than two-tenths of a second for website visitors to form a first impression, and a click away doesn’t usually return for another look. You could modify your existing pages, but it’s usually best to use the opportunity to introduce a fresh image that generates interest in your practice. You can also consider incorporating video and interactive assessments that make your website more than a digital billboard. A quality site engages patients at every stage of their decision-making, especially on mobile devices; more than 54% of viewers visit websites on mobile devices.
4. Boost patient-generated reviews to tell your story.
We live in a competitive world, and brands often struggle to rise above the noise. However, reviews provide essential support to the consumer’s decision-making process; Over 30% of people read online reviews as the first step when choosing healthcare providers, even before talking to family and friends. In addition, positive reviews help encourage new patient visits and differentiate our practice for prospective buyers. Add consistent automated review requests via text or email to make leaving reviews easy.
5. Add convenience tools for a win-win.
Consumers value convenience and contactless solutions, a trend accelerated by the pandemic. Over half of consumers report convenience as the most decisive factor when they choose a new provider. Physical convenience is essential, but online services offer distinct advantages for everyone. Online booking and payment portals streamline the patient journey while increasing your team’s efficiency. Consider adding one or more of the latest convenience tools for your patients and the added benefit that this innovation shows a prospective buyer.
Bringing it all together for maximum value.
A dental practice moves through various stages and may build an excellent reputation for quality care and service. But the visible brand may not match the underlying fundamentals, and perception may hinder growth in a competitive environment.
The average person spends 147 minutes daily on social media and sees up to 10,000 ads daily. If your brand is tired, non-descriptive, or confusing, you miss a chance to attract attention in a fast-paced world. Memorable branding sticks, even in dentistry. When someone visits your website, the branding, content, and messaging combine to convince them to look further or move on. Since most site visitors click away after 10-20 seconds, these components carry weight.
At DDS Match, we take a comprehensive approach to practice growth and value. The financial fundamentals play a vital role in your practice value, but other components influence the big picture. We understand the current market and the best way to bolster your brand, operations, and long-term goals. We can connect you with trusted resources to fine-tune your operation.
All of the pieces you put in place help us determine the current projected value of your practice and identify areas that help support growth and profitability. Contact us today to discuss the possibilities for an ideal exit into the next phase of your life.
