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Will You Add? - Advertising - Should You Be Advertising Your Services?
How to Finance a Medical Practice That is Growing Quickly nerally speaking, possession and people processing services are more tangible than knowledge or information processing. For possession and people processing services, clients can see/touch/feel the outcomes, and they may even be personally involved in the delivery of the actual service. Additionally, tangible services usually incorporate a higher level of personal contact (intensity or frequency) between the provider and the customer.Regardless of what industry pundits say, opening a medical practice can be both very rewarding and very lucrative. Of course, as with any business, medical offices have their own specific financial challenges. One of the biggest challenges for medical practices of all sizes is adjusting to the long payment cycles of private insurance providers and Medicare/Medicaid. It is not uncommon for bills to insurance companies to take up to 120 days to pay. This slow payment cycle wreaks havoc in the office’s cash flow, forcing the medical office to So, for more tangible services, clients often have more reference Productivity on the Job: Phil's New Nailing Gun You offer a reliable, quality service. You know that if more people knew what you can do, you'd increase sales. So you advertise in the most likely media for potential clients to read about you. But there's no response. Why?Increased productivity means people like Jane and Phil earn effectively higher wages than their parents.Here's why: Every time a company makes an improvement, a productivity improvement, it increases its value and its income. Whether it reduces a cost or adds value for which consumers will pay more, it increases its earnings.Some of those increased earnings go to higher (real) wages for employees, some goes to investors, and some goes back into improving the business. When we say real wages, we mean after inflation.Con If this scenario is familiar to you there's a few likely causes. 1. Maybe your ad's aren't designed well - poor layout, inappropriate offer, etc. 2. Maybe you have selected the wrong media, placement or timing. 3. Maybe you shouldn't be advertising your services. Now I know there's a lot to consider when writing advertisements - creating "killer headlines", long copy versus short copy arguments, using white space, etc - and I could give you some tips on how to buy media. But I'm not getting into that today. I'm going to talk about the third point - maybe you shouldn't advertise. But wait! (I hear you ask)... Why shouldn't I advertise my business? Put simply, some services are not suitable to be advertised in the usual fashion. Most advertising is to stimulate action, usually a purchase or decision to place an order. If you're selling a 'product' this is relatively easy to achieve. Customers know what they are buying. There's usually some sort of benchmark, or product criteria, customers use to judge whether your product will do what they want. But when it comes to services, many potential customers (or clients - I use both terms interchangeably) may not be able to make the same sort of judgement. This is particularly the case for services where the specific outcome is hard to predict, or where there is a large degree of emotional involvement or risk in the customers decision making process. Think about it this way. Services can be broadly classified under the following headings: * People Processing (eg hairdresser, medical) * Possession Processing (eg computer repairs, dog obedience training) * Knowledge Processing (eg education, entertainment) * Information Processing (eg accounting, investment advice) Generally speaking, possession and people processing services are more tangible than knowledge or information processing. For possession and people processing services, clients can see/touch/feel the outcomes, and they may even be personally involved in the delivery of the actual service. Additionally, tangible services usually incorporate a higher level of personal contact (intensity or frequency) between the provider and the customer. So, for more tangible services, clients often have more reference p Opening a Dollar Store - Watch Out for Store Traffic Changes! .Are you opening a dollar store? If so always remember that it is quite easy for those who are very close to a business to lose sight of exactly what is happening with that business. It is very easy for a business to get out of control and for unexpected consequences to result.Make it a practice to routinely examine the different components of your business. For example examining traffic and surrounding area demographics on a routine basis is important after opening a dollar store.Have there been significant changes in traffi Now I know there's a lot to consider when writing advertisements - creating "killer headlines", long copy versus short copy arguments, using white space, etc - and I could give you some tips on how to buy media. But I'm not getting into that today. I'm going to talk about the third point - maybe you shouldn't advertise. But wait! (I hear you ask)... Why shouldn't I advertise my business? Put simply, some services are not suitable to be advertised in the usual fashion. Most advertising is to stimulate action, usually a purchase or decision to place an order. If you're selling a 'product' this is relatively easy to achieve. Customers know what they are buying. There's usually some sort of benchmark, or product criteria, customers use to judge whether your product will do what they want. But when it comes to services, many potential customers (or clients - I use both terms interchangeably) may not be able to make the same sort of judgement. This is particularly the case for services where the specific outcome is hard to predict, or where there is a large degree of emotional involvement or risk in the customers decision making process. Think about it this way. Services can be broadly classified under the following headings: * People Processing (eg hairdresser, medical) * Possession Processing (eg computer repairs, dog obedience training) * Knowledge Processing (eg education, entertainment) * Information Processing (eg accounting, investment advice) Generally speaking, possession and people processing services are more tangible than knowledge or information processing. For possession and people processing services, clients can see/touch/feel the outcomes, and they may even be personally involved in the delivery of the actual service. Additionally, tangible services usually incorporate a higher level of personal contact (intensity or frequency) between the provider and the customer. So, for more tangible services, clients often have more reference China Manufacturing Secrets s to stimulate action, usually a purchase or decision to place an order. If you're selling a 'product' this is relatively easy to achieve. Customers know what they are buying. There's usually some sort of benchmark, or product criteria, customers use to judge whether your product will do what they want.China's focus is to become the manufacturer to the world. Their rate of expansion is 15% or higher over the last few years and is maxing out many of the resources of the country and world. Commodity prices for metal, concrete and other natural resources have skyrocketed. Chinese power plants can not produce enough electricity to keep up with the industrial production that is going on in their country.What is their secret to such prolonged manufacturing growth? First and most important, the government in Beijing decided many year But when it comes to services, many potential customers (or clients - I use both terms interchangeably) may not be able to make the same sort of judgement. This is particularly the case for services where the specific outcome is hard to predict, or where there is a large degree of emotional involvement or risk in the customers decision making process. Think about it this way. Services can be broadly classified under the following headings: * People Processing (eg hairdresser, medical) * Possession Processing (eg computer repairs, dog obedience training) * Knowledge Processing (eg education, entertainment) * Information Processing (eg accounting, investment advice) Generally speaking, possession and people processing services are more tangible than knowledge or information processing. For possession and people processing services, clients can see/touch/feel the outcomes, and they may even be personally involved in the delivery of the actual service. Additionally, tangible services usually incorporate a higher level of personal contact (intensity or frequency) between the provider and the customer. So, for more tangible services, clients often have more reference Six Sigma For The Non-Manufacturing Sector here the specific outcome is hard to predict, or where there is a large degree of emotional involvement or risk in the customers decision making process.The Six Sigma revolution has systematically taken over various sectors of the industry owing to its methodological process variations of working towards achieving targets and eliminating any defects occurring in them throughout the procedure. Since it aims at providing top class service and works towards being a reliable and valuable enterprise for its customers, it has made an entry into areas such as banking, telecommunications, marketing, insurance, healthcare, software and construction.Range Of Six SigmaEarlier the scope Think about it this way. Services can be broadly classified under the following headings: * People Processing (eg hairdresser, medical) * Possession Processing (eg computer repairs, dog obedience training) * Knowledge Processing (eg education, entertainment) * Information Processing (eg accounting, investment advice) Generally speaking, possession and people processing services are more tangible than knowledge or information processing. For possession and people processing services, clients can see/touch/feel the outcomes, and they may even be personally involved in the delivery of the actual service. Additionally, tangible services usually incorporate a higher level of personal contact (intensity or frequency) between the provider and the customer. So, for more tangible services, clients often have more reference Telecom Audit Software nerally speaking, possession and people processing services are more tangible than knowledge or information processing. For possession and people processing services, clients can see/touch/feel the outcomes, and they may even be personally involved in the delivery of the actual service. Additionally, tangible services usually incorporate a higher level of personal contact (intensity or frequency) between the provider and the customer.If you own a business, you also have to install a communication system to run it. It is simply unthinkable to run a business without the right type of communication system, which is the backbone of your business. Each and every member of your staff needs to have a telephone or other communication device for running business operations smoothly.With as many communication devices as the number of staff in your business establishment, the chances of over-billing and even the misuse of the communication network can never be ruled out. T So, for more tangible services, clients often have more reference points on which to base a future purchase decision. If your business provides services with less tangible, and more variable, outcomes then media advertising may not be the best answer for you. For your type of services customers will be very interested to understand 'how' you deliver your service and will need to develop a suitable degree of trust in you before they will make the decision to use your services. These criteria cannot be fully met through advertising alone. So what should you do to get more business? Here are a few ideas: * Perform your service to an excellent standard - surpassing mere customer satisfaction. * Provide information to educate your potential clients. * Develop sales processes that identify real problems you can solve. * Make sure you address the true concerns and risks of your clients. * Understand the clues customers use to decide whether they will use you. * Create a network of related service providers who may refer prospects to you. * Develop mutually beneficial joint-promotional activities with well-respected businesses in complementary fields. Please don't misunderstand my message. Advertising can be very productive. If you can clearly state specific benefits (i.e. outcomes) and overcome the initial concerns of prospective clients, then advertising may work for you. That's why possession processing services such as lawn mowing can be easily advertised. For your average lawn the customer can recognise and understand what they are buying. However, if your business provides relatively intangible services that deliver outcomes dependent upon a variety of factors, then media advertising should not be high on your list of marketing activities. (c) 2004 Marketing Nous Pty Ltd
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