CMEs: Why Competing on Price is a BAD Idea
We take a look at...
How you can charge more, and have patients happy to pay. |
| Some CMEs in town are charging rock-bottom prices
for a DOT physical exam.
What should you do?
Is it possible to build your DOT business faster this way?
This email is not quite as long as the last one.
It's still packed with valuable information to help you with your DOT physical business. So save it!
This is Dr. Kenn and Susan Seals back with you.
In our email letter yesterday, we looked at the broken promise of becoming a CME, and why private practice physicians are not seeing the inflow of truckers they’d hoped for.
We discussed the advantages of NOT competing with the ‘big’ boys, and how to get a bigger piece of the pie.
If you missed that article… click here. (Your access password is: MorePie)
Today, we’ll take a look at Pricing Strategy.
A scenario that could be squeezing any hope of profit out of your business.
If you're frustrated by bottom-feeding CMEs commoditizing their profession, then this subject is important for you.
Enticing Patients With The Lowest Price?
We get questions from private practice doctors…
“XYZ down the road is charging $45 for a DOT physical. What should I do?”
“If I charge the lowest price then truckers will drive miles to come to me. I can build my DOT business faster this way, right?”
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| | Economic Principle
Every business in a competitive market that sells the same commodity products/services becomes undifferentiated.
Since no business has any market power, they must all sell at whatever price the market determines.
If there is money to be made, new businesses will enter the market, increase supply, drive prices down and thereby eliminate the profits that attracted them in the first place.
If too many businesses enter the market, they'll suffer losses, some will fold, and prices will rise back to sustainable levels.
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| | | "By consulting on price / value positioning, I have helped business owners prosper more, than by any other business strategy." ~ Susan Seals |
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You become a commodity when you see yourself as an apple compared with apples.
When you see yourself as competing:
- You put yourself in the me-too lists with everyone else.
- You under-price your services for fear of losing customers to everyone else.
- You attract customers who buy by price.
- Loyalty doesn't exist and you'll always be struggling to find new patients.
- When you compete on price, you have no choice but to be the cheapest. Second cheapest is not good enough.
Commodity thinking is a fast and certain path
to overworked and underpaid,
aka broken and broke.
You Can Charge More Than Your Me-too Competitors, and Have Patients Happy To Pay
Our Premier group of DOTPhysicalDOCTORS distinguish the value of the services they offer.
They set their prices accordingly.
Our promise of a Driver Friendly™ service is that “Prices are all inclusive and fair. No hidden fees or surprises.”
By positioning yourself apart from commodity service providers, and offering a Premier service, you can charge for the value you provide, and have drivers happily pay for your professional service.
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| | “I’m an OTR driver and know that I can get fuel, park my truck
and have my DOT medical card re-certified, right here at the truck-stop.
What a life and time saver, walkin and ‘get r done’.
Thanks for being here for us Doc.”
~ Bret L, OTR driver Wisconsin |
| | In this email we've touched on not getting trapped in the cheap price syndrome.
To learn more about Why Competing On Price Is a BAD Idea, go to this link to read the article. We've listed 26 perspectives, and you’ll get ideas you can start to implement right away.
The article is confidential and password protected.
Please do not share this link with anyone.
Your access password is: ChargeMore (case sensitive)
In the next email we’ll share with you:
How To Grow Your Practice… Without Having To “Sell” Anything.
That's where we share the true secret sauce.
In the meantime, think about the ideas you can implement, to charge what you are really worth.
Our success is a service to others. |
| | Dr. Kenn & Susan Seals
DOTPhysicalDOCTORS
Driver Friendly™ DOT Physical Locations
P.S. Our Premier Plan is for private practice physicians only.
If you’re serious about helping more drivers, and charging what you're worth…
If you’re committed to marketing your own special brand of secret sauce…
Consider joining DOTPhysicalDOCTORS and let us help you with our “marketing-with-you” service.
P.P.S. Membership in our Premier Network of DOTPhysicalDOCTORS is by invitation only. Consider this email your invitation.
Because we offer a personalized “marketing-with-you” service,
we offer a limited number of new memberships.
Our current enrollment period opened on Monday, November 24th.
Enrollment will close on Monday, December 22nd.
(Or before - When we reach our limit of 50 new members.)
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