Business Strategies In Hearing Healthcare, Synergistic Relationships

Deploying A Hearing Aid & Optical Campaign

English: A pair of reading glasses with LaCost...

English: A pair of reading glasses with LaCoste frames. (Photo credit: Wikipedia)

We should take every opportunity to apply sound business strategies in our hearing healthcare Practices. Particularly as we face even more competitive times. With this in mind we need to consider how synergistic business relationships may be of real benefit to us.

I have spoken before about engaging an associated Medical Professional in a synergistic business relationship. A relationship and business strategy that will drive forward both your business and their business.

A relationship that will bring value on both sides and strengthen both Practice’s value offerings. The idea that I deployed here in this market revolved around building a relationship with an Optician, the campaign was run by a couple of people and was very effective were it was deployed.

The campaign was run around both a mailer and localised advertising. The strength of the campaign is based on the synergy of the two medical device services and their possible combined attractiveness for our particular demographic.

Campaign Deployment

The campaign is based on the premise that when a customer buys a set of hearing instruments they receive a set of spectacles free, or indeed a monetary contribution voucher towards a set of spectacles.

The exact pair of spectacles or indeed the monetary contribution voucher will be based on the level of technology of instruments purchased.

Dependent on hearing instrument price points, there can be three or four levels of contribution such as made by the Dispenser. Key to the strategy is the agreement of a local Optician to partake in the campaign. The campaign is a strong one and should be attractive to any Optician in the current economic climate.

Campaign Key elements

  • Agreement of an Optician to participation
  • Negotiation of discounted pricing on three or four levels of price of spectacles
  • A strong mailer designed for database merging
  • Mail marketing from both Practices
  • Localised advertising elements including possible news media and posters for the two practices

 It would be a key benefit for the Optician to utilise his own database as part of the campaign. The combination of hearing aid services and optical services is an attractive one for our demographic.

It also affords the optical practice the opportunity to mail their database leveraging a strong marketing offer. The campaign also gives strong marketing potential for a, “Hearing Aid Dispensers for hearing aids, Opticians for glasses” type marketing campaign.

This campaign meets needs on both a tactical and strategic level for both the Hearing Aid Dispenser and the Optician. At a tactical level it could encourage business within a set time frame. It raises both brands to a higher level of integrated services and raises the attractiveness of both brands to our demographic.

Strategically, the relationship fostered during this campaign can be leveraged by both parties on a long-term basis for on-going marketing activities, brand awareness and possible further service deliveries.

The offer in the campaign can be cost neutral to the Dispenser, if the Dispenser factors the usual level of discount at each price point as the contribution towards the glasses. In fact with intelligent negotiation with the Optician it should be possible to reduce the contribution below what would be the normal discount within each price point.

Campaign Benefits

  • Lower discount levels on price points
  • Access to a wider targeted database
  • Possible on-going strategic relationship with an allied health professional
  • Cross marketing of specialities
  • A new element to the Dispenser’s referral network
  • Possible future joint route to market with specialised products

I realise that different markets have different operating rules, but if you think in a co-operative manner with a view to adding value across stakeholders, you can find a possible partner and deploy a strategy along these lines. Think outside the norm, perhaps an Optical Practice is not ideal, maybe there is another associated health professional that a differing version of the concept may still work with.

This strategy also allows for a really powerful online marketing campaign. Both you and the allied professional can leverage the campaign across all of your respective on-line channels. You can also build links and back links to your respective core on-line marketing channels. Therefore boosting your organic rankings and driving traffic to your websites not just for the campaign duration but for a good deal of time after.

Hopefully a successful campaign will lead to a long and equally advantageous relationship for you both.  

Regards

Geoff

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About Geoffrey Cooling

my name is Geoffrey Cooling and I am the author here at Just Audiology Stuff. I have been involved in the Hearing Healthcare Profession for several years now. I initially worked as a Hearing Healthcare Professional for a large national retailer in Ireland. After several years in Practice I was approached to work for a manufacturer, where I was employed for five years. I am now the Co Founder of a business called Audiology Engine. We design websites, undertake content marketing and generally look after everything digital for audiological practices. I am also a contributor to many hearing profession periodicals and websites. I have written two commercially available books, The Little Book of Hearing Aids which is written for hearing aid consumers and Audiology Marketing in a Digital World which is written for Audiology Practice Owners. They are both available in Paperback and Kindle versions on Amazon. I also write for consumers on the website Hearing Aid Know, which is a website with the mission of demystifying hearing aids, their types and their technology. I have a great interest in commercial strategy as it applies to Healthcare in general and specifically to Hearing Healthcare. I also have a great interest in the psychology of sales and human interaction. I have been involved with social media for some time, both personally and professionally. I find the engagement and discourse on some social media channels fascinating. I instituted social media strategy for the company I worked for as an experiment. That experiment soon spread throughout the company and I am proud to say that the company is probably one of the most active in the industry. I would like to point out that all views, opinions and thoughts here are mine own. Unless of course they have been planted by the pod people, you just can’t take your eyes off the pod people. Those views do not necessarily reflect upon any views or opinions held by my employer, if I ever get another one. I think that our industry is in the middle of a time of huge change, I think that the change will be forced by both internal and external pressure. I think that private Independent Healthcare Practices will have to be smart and lithe of feet in order to meet these changes. I hope that some of my blatherings are of benefit to those Practices, Independent Hearing Healthcare Practices need to survive. I believe that if that occurs it will be of real benefit to Patients. I hope that I, and my writings will play a small part in their continued success.

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