Do You Have a New Competitor Entering Your Market?
As an established local business, the entry of a new competitor should be considered as an opportunity rather than a threat. It’s a chance to thoroughly evaluate your practice and identify areas for improvement. The central question to consider is: Why should customers continue to choose you and your practice?
This guide will help you think strategically about how to maintain your competitive edge and build stronger connections with both existing and potential patients.
How Does Your Community View You?
Start by assessing how your practice is viewed locally. Does your branding, website, and logo clearly showcase your values? A competitor’s arrival is the perfect moment to amplify your presence. Consider refreshing your logo or signage, updating any marketing materials, and reinvigorating your website and online presence to better communicate what makes your practice unique.
What Does Your Competitive Landscape Look Like?
It’s important to also take the time to understand your competitor’s location, services, and marketing strategy. Identify where they might excel and use this insight to highlight your own advantages.
Emphasise what sets you apart, whether it’s exceptional service, local expertise, or unique offerings. This messaging will build the basis of your campaign. Click the button below to put together your “Why Choose Us” points.
Engage and Reassure Your Patients
A competitor’s entry can certainly spark curiosity among your patients, but it can also work in your favour. When a competitor opens near you, it’s important to be proactive in reinforcing the value you provide, ensuring that your current patients feel appreciated while attracting new ones with clear messaging about the benefits of choosing your practice.
If you feel you haven’t sufficiently nurtured relationships with your existing patients, it may be worthwhile to analyse your communication methods to identify areas for improvement or implement a campaign or initiative to show appreciation for your patients before the competitor moves in.
When attracting new patients, make your “Why Choose Us” message clear and impactful. Use advertising, signage, and your digital presence to confidently communicate what makes your practice stand out.
Timelines
When a competitor arrives, you may have limited time to prepare or a longer lead-in to strategise. If time is short, focus on quick updates like improving your website and online booking system, implementing a social media strategy, and enhancing patient communications. These steps can boost your visibility and strengthen patient relationships.
If you’re aware of their arrival well in advance and your branding needs a refresh, start planning early. While rebranding takes time, updating signage is quicker and can significantly enhance your presence.
You might also use this opportunity to celebrate a milestone, such as an anniversary, with a special campaign. Adding signage that highlights your “Why Choose Us” points can further showcase your unique strengths to the community.
How Can ProVision Help You?
ProVision is here to support you every step of the way. We can help you develop a custom strategy and assist with its implementation. Our competitive design rates ensure affordability, and we can prepare a timeline to ensure a smooth process. We also coordinate branding, marketing collateral, and patient communications, including print and distribution. Additionally, we can assist with signage and installation.
If you are interested in getting support with a new entrant strategy, reach out to marketing@provision.com.au. Alternatively, review the new entrant checklist below to implement your own strategy.
