To hone in on an appropriate target market, orthopedic practices can choose any number of tactics. One that some find effective is limiting the types of clinical challenges the practice takes on, such as deciding to see only those patients with low back problems.
Consider an orthopedic group in the greater Atlanta area that specializes in pediatric orthopedics. If they were to develop a target market definition, it might look something like this: “Parents with incomes of $60,000 and up, in white-collar positions, with insurance, who live in the greater Atlanta metro area in zip codes 30342 near Buckhead in Atlanta, 30329 near Emory University, 30319 and the like.” Such a highly specific market definition would definitely increase the practice’s ability to do targeted marketing. It might at some point decide, for example, to purchase metro edition advertising in the Atlanta Constitution that targets just these particular areas and minimizes coverage beyond the group’s target market.
The advantage in having a target market? Their message becomes highly refined. They can advertise in very defined publications that appeal to women and the service mix can be tailored clinically to this population.
Having a succinct marketing strategy forces the orthopedic group to decide on exactly whom it is trying to reach in terms of patients and referral sources, and to uncover their needs. That's a good thing, actually. First of all, having a "targeted marketing" mentality just makes good business sense. It results in an office filled with the types of patients and cases the partners have pre-determined are desirable from the standpoint of clinical challenge, revenue potential or both.
In essence, targeted marketing makes orthopedic practices be selective about who they attract, but it also enables them to truly help those who need their particular services most.
Another benefit: This approach helps groups better target their promotional and marketing efforts right at the patients and referral sources they want to treat, which is essential. Because what undoubtedly turns off many physicians to this concept of medical practice marketing is what is seen in most metro markets today in terms of health care advertising by hospitals: large catchy advertisements on billboards by the highways or on transit boards on the sides of buses.
From a marketing strategy perspective, the question that must be asked about such campaigns is: Who are these advertisements dollars trying to reach?
The question comes down to whether it is wasted coverage or not. Practices, of course, need to remember that advertising is not marketing.
But, when an orthopedic practice knows in great detail who its target market is and customizes its marketing programs accordingly, the partners can rest assured they are not wasting coverage nor are they committing any ethical errors