Hitting the Mark
How to identify and connect with your target market.By Cheryl Whitman For a medspa or medical aesthetic practice to grow and prosper, it's crucial to find and entice the people in your community who can support your business-particularly if your office is in a highly competitive area. To claim your share of the market and connect with that target base, it's also smart to identify the unique characteristics, or differentiating factors, that set your practice apart from the competition.
How can practice owners identify their target markets and entice those prospects to visit their offices? The first step is to conduct a feasability study.
Identify Your Base
A feasibility study consists of two parts-a competitive analysis and a demographic survey. It is used to help businesses identify potential patrons in their regions as well as the number of competitors vying for the same customers.
The Demographic Survey: Several sources can help you analyze the demographics of your local area to determine the size of your...
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