As a dental practice owner, you know that it is important to attract new patients. However, did you know that it is also important to attract small business owners and their employees? Small businesses are an important part of the economy, and they can be a great source of revenue for your dental practice. In this blog post, we will discuss the benefits of signing up small business owners and their employees for your dental membership program. We will also provide tips on how you can market your program to these individuals.
What is a dental membership program?
A dental membership program is a service that provides discounted or free dental care to its members. This type of program is often offered by dental practices as a way to attract new patients, retain existing patients, and increase revenue. There are many different types of membership programs available, so it is important to choose one that best fits the needs of your practice. Patients pay a monthly or yearly recurring fee in exchange for the benefits and savings your practice creates. A great example of this is Amazon Prime membership or a Costco membership but for your patients oral health care.
Why it’s a Win-Win
One of the main benefits of signing up small business owners and their employees for your dental membership program is that you will be able to tap into a new source of revenue. Small businesses are often looking for ways to save money, A dental membership program can be a great way for them to do just that. In addition, many small businesses offer their employees dental benefits as a way to attract and retain top talent. A dental membership program can be a great way for these businesses to provide their employees with affordable dental care.
Another benefit of signing up small business owners and their employees for your dental membership program is that you will be able to build long-term relationships with these individuals. When small businesses sign up for a dental membership program, they are typically committing to a long-term relationship with your practice. This can be beneficial for both the business and the practice owner. The business will have access to affordable dental care, and the practice owner will have a steady stream of recurring revenue.
How to Attract Small Businesses
If you are looking for ways to attract small business owners and their employees to your dental membership program, there are a few things you can do. First, you can offer discounts to businesses that sign up multiple employees. You can also offer free or discounted services for businesses that refer new members to your program. Finally, you can market your program to small businesses through online directories and social media.
Starting with Existing Business Owners
Most practices have existing patients that own a business and have many employees. Reach out to them and invite them to join along with their employees. You can even offer a group discount for signing up multiple employees at once. You’re already providing them with quality dental care, so they should be more than happy to sign up their employees as well.
Reaching Out on Linkedin
There are a number of ways to reach out to small business owners online. One way is to connect with them on LinkedIn. LinkedIn is a great platform for networking, and it allows you to connect with individuals in your local market. When reaching out to small business owners on LinkedIn, be sure to personalize your message and include information about your dental membership program.
Step 1: Search for industries that are health conscious:
- Medical Spas
- CPA firms
- Marketing Agencies
- Medical Practices
- Software Companies
- Car Dealerships/ sales people
Step 2: Send them a Linkedin message:
Here is an example:
Hi [First Name],
My name is Dr. [Your First Name] and I’m a dentist in [City, State]. I recently started a dental membership program that provides discounted or free dental care to its members. I think your business would benefit from this program, and I wanted to reach out and see if you’re interested.
Step 3: Follow up and visit the business owner (bring gifts)
Here is an example:
If you’re interested in learning more about my dental membership program, I’d be happy to meet with you and provide more information. I’m also happy to answer any questions you have. Thanks for your time, and I hope to hear from you soon.
[Your First Name]
By using these tips, you can connect with small business owners online and attract them to your dental membership program. By building long-term relationships with these individuals, you can benefit from the recurring revenue they provide.
Assign a Team Member to Manage Business Outreach
In order to make the most of your marketing efforts, it is important to assign a team member to manage business outreach. This team member should be responsible for connecting with small businesses and inviting them to join your dental membership program. By assigning someone to this task, you can ensure that your marketing efforts are focused and effective.
The best way to assign this task is to create a quota and compensation plan for the team member. This will motivate them to reach out to as many small businesses as possible. Additionally, it will help ensure that they are effective in their outreach efforts.
Creating a Quota
When creating a quota for the team member, be sure to consider the size of the business. You want to set a goal that is achievable, but also challenging. The team member should be able to reach out to a number of businesses each day and/or week.
The team member’s compensation plan should be based on their success in reaching out to small businesses. This could include a commission or bonus for every business that joins your dental membership program. By creating a compensation plan, you can motivate the team member to reach out to as many businesses as possible. I recommend you pay a bonus from a percentage of revenue generated from the membership program. For example:
20% of the first month’s revenue generated from each new business that signs up
This bonus can be paid out on a monthly or quarterly basis. It’s important to have a system in place that rewards the team member for their hard work and dedication.
Jennifer sign up a business with 100 employees paying $35 a month in recurring revenue. Her bonus would be $700 (20% of the first month’s revenue generated from each new business that signs up).
What your Practice can Achieve
If you sign up 2 business per month with 100 employees paying $35/mo by the end of the year you would generate an additional $84,000 in monthly recurring revenue or $1 million in annual recurring revenue from membership subscription fees.
Reaching out to small business owners is a great way to attract new members to your dental membership program. By using LinkedIn and creating a quota and compensation plan for a team member, you can maximize your marketing efforts. These tips will help you build long-term relationships with small businesses and generate recurring revenue.
Schedule a demo and learn how BoomCloud can help you grow and scale your membership program!