I know what you might be thinking: Why should you be concerned with what other health care professionals are doing? Is it really necessary to "spy" on them? Why can't we just all get along? Unfortunately, in the real world your business will probably not thrive if you don't take a closer look at your direct competitors. This "spying" is very important and is done by virtually every successful business.
Why? People only have so much money to spend, only so much time in a day and only so much attention they can give to the thousands of advertisements that bombard them every single day. If your potential patients feel that another health care professional offers a better solution to the same problem you do, then you stand a chance of losing them. So, I'd say this is one of the most important business strategies you can use to stay progressive in the marketplace.
Who Are Your Potential Direct Competitors?
There is one competitor that deserves a category all their own. I like to call them the "do nothing" competitor, and it's actually your patients themselves. Your potential patients could just not do or buy anything; take no action whatsoever and live with their problems. That's a tough competitor to beat because it costs them nothing and it's really easy to do. Plus, it's already proven that they are really good at doing it. It's the classic line, "I was just hoping it would go away on its own!'"It is human nature to procrastinate in the pain department, so you had better learn techniques to overcome it.
How Can You Learn From Them?
Now that you know who your competitors are, what should you do about it? I know this might be a little uncomfortable for some doctors, and it's not a subject many people talk about, but you know what? They should. Not learning this information will be giving away your advantage. Here are a few simple recommendations on what to do next.
Make an information folder for each of your competitors. Write down what you know about each of them, both good and bad. Here are some suggestions on what to include. Some of the items you may already have knowledge of; others you will need to investigate a little.
Check the Yellow Pages and newspaper ads to see how your competitors market to the public. If their ads have been running for a long period of time, then that strategy is probably working well for them. This is valuable information to know.
Here are some other easy ways to gather information on your competition:
By keeping a close eye on your competition, you will be able to know what they are doing and what does or doesn't work for them. You will also learn how to compare your services to theirs. You will be able to stay one step ahead of them, learning from their successes and avoiding their failures. Think of it as a more efficient way to grow your business and educate more people about the positive benefits of chiropractic. Seems like a win-win to me.
When sports chiropractors first appeared at the Olympic Games in the 1980s, it was alongside individual athletes who had experienced the benefits of chiropractic care in their training and recovery processes at home. Fast forward to Paris 2024, where chiropractic care was available in the polyclinic for all athletes, and the attitude has now evolved to recognize that “every athlete deserves access to sports chiropractic."
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Some doctors thrive in a personality-based clinic and have a loyal following no matter what services or equipment they offer, but for most chiropractic offices who are trying to grow and expand, new equipment purchases help us stay relevant and continue to service our client base in the best, most up-to-date manner possible. So, regarding equipment purchasing: should you lease, get a bank loan, or pay cash?
